IMPROVING CORPORATIONS AND FINANCIAL SERVICES LAW
The Law Council is pleased to make this submission in response to the Treasury’s consultation on improving corporations and financial services law.
This submission has been developed with the assistance of the Corporations Committee and Financial Services Committee of the Law Council’s Business Law Section, and the Law Society of New South Wales.
Law Council position
The Law Council appreciates the opportunity to comment on the Treasury Laws Amendment (Measures for Consultation) Bill 2022 (draft Bill), the Treasury Laws Amendment (Measures for Consultation) Regulations 2022 (draft Regulations) and the accompanying explanatory materials.
The Law Council supports the proposed implementation by the draft Bill and draft Regulations of the recommendations and suggestions made by the Australian Law Reform Commission (ALRC) in Interim Report A of its Review of the Legislative Framework for Corporations and Financial Services Regulation (Inquiry).