📜 Corporations (Commonwealth Powers) Bill 2001
This Bill refers certain matters relating to corporations and financial products and services to the Commonwealth Parliament, allowing them to make laws that apply in Western Australia instead of the existing Corporations Law. It aims to streamline corporate regulation by enabling Commonwealth legislation to operate directly in the state.
Impact
Corporations and businesses operating in Western Australia will be affected, as they will be subject to Commonwealth laws regarding corporate regulation and financial products/services. This aims to create a more uniform national system, potentially reducing compliance costs and complexities. The WA parliament retains the ability to terminate the reference.
Key Changes
Parliamentary Progress
- LC Second Reading MovedLC29 May 2001
- LC Second Reading AgreedLC20 June 2001
- LC Third ReadingLC21 June 2001
- LA Second Reading MovedLA26 June 2001
- LA Second Reading AgreedLA27 June 2001
- LA Third ReadingLA27 June 2001
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