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senate vote 2018-02-07#3
Edited by
mackay staff
on
2023-07-28 08:14:15
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Title
Bills — Treasury Laws Amendment (Banking Executive Accountability and Related Measures) Bill 2018; Third Reading- Treasury Laws Amendment (Banking Executive Accountability and Related Measures) Bill 2018 - Third Reading - Pass the bill
Description
<p class="speaker">Mathias Cormann</p><p>I move:</p>-
- The majority voted in favour of a [motion](https://www.openaustralia.org.au/senate/?id=2018-02-07.36.1) to read the bill for a third time. In other words, they voted to pass the bill. Because it had already been passed in the House of Representatives, it will now become law.
- ### What does the bill do?
- According to the [bills digest](https://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/bd/bd1718a/18bd070), the bill was introduced to:
- * *apply new accountability obligations to senior executives of authorised deposit-taking institutions (ADIs) and*
- * *introduce a civil penalty regime alongside enhanced powers for the Australian Prudential Regulation Authority (APRA) to rely on in the event ADIs and certain accountable persons fail to meet the new obligations.*
<p class="italic">That the bill be read a third time.</p> <p class="speaker">Malarndirri McCarthy</p><p>The question is that the bill be read a third time.</p><p></p><p></p> -
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