Treasury Laws Amendment (Measures for Consultation) Bill 2023: Anti-avoidance rule for product intervention orders
The Financial Services Committee (the Committee) of the Business Law Section of the Law Council of Australia provided a submission to Treasury in response to the consultation on the exposure draft Treasury Laws Amendment (Measures for Consultation) Bill 2023: Anti-avoidance rule for product interventionorders (the Bill) and accompanying exposure draft Explanatory Memorandum, which was released for public consultation on 21 February 2023.
The Bill proposes to amend the Corporations Act 2001 (Cth) to introduce anti-avoidance measures relating to credit product intervention orders.
Although it falls within the separate “Consumer Credit Regulations” consultation as tothe proposed National Consumer Credit Protection Amendment (Financial SectorReform) Regulations 2023, the Committee notes that the proposed Regulation 41 (the Regulation) would be made under powers that the Bill would introduce into the Corporations Act.
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