📜 Insurance Commission of Western Australia Amendment Bill 2013
Assented toLABill 1512 June 2013
The Insurance Commission of Western Australia Amendment Bill 2013 amends the Insurance Commission of Western Australia Act 1986 to allow the Commission to pay dividends to the State. This aims to align the ICWA with the State's Policy on Competitive Neutrality.
Impact
This bill affects the Insurance Commission of Western Australia and the State's finances. It aims to make the ICWA operate more like a private company in terms of returning profits to the government.
Key Changes
["Introduces provisions for the ICWA to pay interim dividends to the State.", "Introduces provisions for the ICWA to pay annual dividends to the State.", "Requires the Commission to provide the Minister with reports forecasting profits and recommending dividend amounts.", "Gives the Minister the power to accept or reject the Commission's dividend recommendations, with the Treasurer's concurrence."]
Parliamentary Progress
- LA IntroducedLA12 June 2013
- LA Second Reading MovedLA12 June 2013
- LA Second Reading AgreedLA19 June 2013
- LA Consideration in DetailLA20 June 2013
- LC Second Reading MovedLC25 June 2013
- LA Third ReadingLA25 June 2013
- LC Second Reading AgreedLC6 Aug 2013
- LC Third ReadingLC7 Aug 2013
- Royal Assent19 Aug 2013
Affected Sectors
financepublic_sector
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