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.
- Australian Securities & Investment Commission - PDF 90KB
- Australian Small Business and Family Enterprise Ombudsman - PDF 644KB
- Australian Unity - PDF 283KB
- Business Council for Co-operatives and Mutuals (BCCM) and Customer Owned Banking Association (COBA) - DOCX 51KB
- Clubs Australia - PDF 340KB
- Customer Owned Banking Association - PDF 252KB
- Friendly Societies of Australia - PDF 344KB
- King & Wood Mallesons - PDF 354KB
- Piper Alderman - PDF 60KB