Document ID: chunk:federal_register_of_legislation:C2025C00148:section:3
Version: federal_register_of_legislation:C2025C00148
Segment Type: section
Provision Reference: s 3
Character Range: 9117–9715

3  Objects of this Act
  The objects of this Act are:
 (a) to provide for a strengthened accountability framework for:
 (i) financial entities in the banking, insurance and superannuation industries; and
 (ii) persons who hold certain positions, or have certain responsibilities, related to those financial entities; and
 (b) to confer on APRA and ASIC functions and powers (including information gathering, investigation and enforcement powers) that:
 (i) relate to obligations under that framework; and
 (ii) can be performed and exercised in aid of their functions and powers under other laws.