An exposure draft of the Corporations Legislation Amendment (Financial Services Modernisation) Bill 2009 has been published: see here (pdf) or here (rtf). A commentary is available here (pdf) and here (rtf). One of the purposes of the Bill is to introduce national regulation of trustee companies - those that provide personal trustee and estate administration services - for the first time in Australia's history. Further information is available in this press release. For background information about trustee companies see the green paper published by the Australian Treasury in 2008.
Wednesday, 13 May 2009
Australia: the Corporations Legislation Amendment (Financial Services Modernisation) Bill 2009
An exposure draft of the Corporations Legislation Amendment (Financial Services Modernisation) Bill 2009 has been published: see here (pdf) or here (rtf). A commentary is available here (pdf) and here (rtf). One of the purposes of the Bill is to introduce national regulation of trustee companies - those that provide personal trustee and estate administration services - for the first time in Australia's history. Further information is available in this press release. For background information about trustee companies see the green paper published by the Australian Treasury in 2008.
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