BILL DRAFTING – AUSTRALIA

Swift axe for carbon tax

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 7-Jul-14

The Australian Senate is expected to pass legislation repealing the carbon tax in early July 2014. It has the support of crossbench senators, which will stop the Australian Labor Party and Australian Greens from delaying the vote. Business leaders, academic economists and the Climate Change Authority have called on the Government to retain a carbon price mechanism

CORPORATES
AUSTRALIA. CLIMATE CHANGE AUTHORITY, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, PALMER UNITED PARTY, AUSTRALIA. DEPT OF THE ENVIRONMENT, LIBERAL PARTY OF AUSTRALIA, THE AUSTRALIAN INDUSTRY GROUP

ASIC won’t act on FoFA changes

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Original article by Sally Patten
The Australian Financial Review – Page: 20 : 23-Jun-14

Both new regulations and legislative amendments will be used by the Australian Government to change some aspects of the Future of Financial Advice (FoFA) laws, effective 1 July 2014. However, there is resistance to the amendments in the Senate by the Australian Labor Party, Australian Greens and Palmer United Party. The Australian Securities & Investments Commission is currently not penalising any breaches of those sections of the FoFA laws that are to be repealed, and will maintain this approach if the deadline of 1 July is missed by the Federal Government

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN GREENS, PALMER UNITED PARTY, FINANCIAL SERVICES COUNCIL, AUSTRALIAN FINANCIAL MARKETS ASSOCIATION INCORPORATED

Abbott dared to call double dissolution

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1-Apr : 6/19/2014

The Senate has for a second time rejected the Australian Government’s bill to scrap the Clean Energy Finance Corporation. This has provided the Government with a trigger for a double dissolution election, although Deputy Liberal Party leader Julie Bishop has downplayed such talk. She argues that voters do not want the instability and uncertainty that characterised the previous administration. The Government’s poor showing in recent public opinion polls also makes an election unlikely

CORPORATES
AUSTRALIA. CLEAN ENERGY FINANCE CORPORATION, LIBERAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AUSTRALIA. DEPT OF THE ENVIRONMENT, INFRASTRUCTURE PARTNERSHIPS AUSTRALIA, THE ASSOCIATION OF SUPERANNUATION FUNDS OF AUSTRALIA LIMITED