The government has released exposure draft legislation to move matters in legislative instruments made by the Australian Securities and Investments Commission (ASIC) into the primary law and regulations. This will provide greater certainty making it easier for stakeholders to identify their rights and obligations under the financial services law.
The draft legislation supports the regulatory stewardship of Treasury portfolio legislation. The government pursues regular improvement and maintenance opportunities to ensure Treasury laws remain current and fit-for-purpose.
The government welcomes comments or feedback from stakeholders on the draft legislation and explanatory materials.