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Treasury Laws Amendment (Mutual entities) Bill 2018

Key documents

On 8 November 2017 the Government committed to implementing the recommendations of the inquiry into Reforms for Cooperatives, Mutuals and Member-owned Firmed, conducted by Greg Hammond OAM.

The Government has today released for public consultation an exposure draft of the Treasury Laws Amendment (Mutual Entities) Bill 2018 and explanatory materials.

The Bill introduces a definition of a mutual entity and removes the uncertainty for transferring financial institutions and friendly societies in respect of the demutualisation provisions in Part 5 of Schedule 4 of the Corporations Act 2001.