Document ID: chunk:federal_register_of_legislation:C2020A00135:front:0
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Financial Sector Reform (Hayne Royal Commission Response) Act 2020

No. 135, 2020

An Act to amend the law in relation to the financial sector, and for related purposes

Contents
1 Short title
2 Commencement
3 Schedules
Schedule 1—Enforceable code provisions
Corporations Act 2001
National Consumer Credit Protection Act 2009
Schedule 2—Insurer avoidance of life insurance contracts, and duty to take reasonable care not to make a misrepresentation
Part 1—Insurer avoidance of life insurance contracts
Insurance Contracts Act 1984
Part 2—Duty to take reasonable care not to make a misrepresentation
Insurance Contracts Act 1984
Schedule 3—Deferred sales model for add‑on insurance
Australian Securities and Investments Commission Act 2001
Corporations Act 2001
Schedule 4—Caps on commissions
Australian Securities and Investments Commission Act 2001
National Consumer Credit Protection Act 2009
Schedule 5—Hawking of financial products
Part 1—Main amendments
Corporations Act 2001
Part 2—Other amendments
Competition and Consumer Act 2010
Corporations Act 2001
Schedule 6—Use of terms "insurance" and "insurer"
Insurance Act 1973
Schedule 7—Claims handling and settling services
Corporations Act 2001
Schedule 8—Trustees of registrable superannuation entities should have no other duty
Superannuation Industry (Supervision) Act 1993
Schedule 9—Adjustment of APRA and ASIC's roles in superannuation
Part 1—Adjustments relating to industry supervision
Superannuation Industry (Supervision) Act 1993
Part 2—Adjustments relating to financial services
Australian Securities and Investments Commission Act 2001
Corporations Act 2001
Superannuation Industry (Supervision) Act 1993
Schedule 10—Reference Checking and Information Sharing Protocol
Corporations Act 2001
National Consumer Credit Protection Act 2009
National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009
Schedule 11—Breach reporting and remediation
Corporations Act 2001
National Consumer Credit Protection Act 2009
National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009
Schedule 12—Statutory obligation to cooperate and formalising ASIC meeting procedures
Part 1—Cooperation obligation
Australian Prudential Regulation Authority Act 1998
Australian Securities and Investments Commission Act 2001
Part 2—Financial regulator information
Australian Prudential Regulation Authority Act 1998
Australian Securities and Investments Commission Act 2001
Insurance Act 1973
Life Insurance Act 1995
Part 3—ASIC meeting procedures
Australian Securities and Investments Commission Act 2001

Financial Sector Reform (Hayne Royal Commission Response) Act 2020
No. 135, 2020

An Act to amend the law in relation to the financial sector, and for related purposes

[Assented to 17 December 2020]

The Parliament of Australia enacts: