Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) 2024

✦ Plain-English Summary

# Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) 2024

## What it does
This bill strengthens the rules around Australia's financial plumbing—the systems that let people buy and sell shares, bonds and other investments. It gives regulators (mainly ASIC and the Reserve Bank) tougher powers to step in during financial crises, monitor the companies running stock exchanges and clearing houses, and stop foreign operators from dodging Australian rules.

## Why it matters
Financial market infrastructure is invisible but critical—if the ASX or clearing systems fail, regular investors and superannuation funds lose access to their money. This bill makes sure regulators can act faster and more decisively to prevent meltdowns, and reduces the risk that a major financial company could be secretly taken over by a foreign buyer.

## Key details

- **Crisis powers**: Regulators can now resolve financial emergencies by forcing the sale or restructure of troubled infrastructure operators, without waiting for normal court processes.

- **Foreign ownership controls**: The government can now block or approve foreign takeovers of ASX Limited and other critical financial infrastructure, similar to national security screening for other industries.

- **Tougher compliance rules**: Stock exchanges and clearing houses must now meet stricter fitness and competency standards, with regulators able to suspend or cancel licenses more easily if standards slip.

Official Description

Amends the: Corporations Act 2001 and 8 other Acts to implement recommendations by the Council of Financial Regulators in relation to Australia’s financial market infrastructure by: introducing a crisis management and resolution regime for domestic clearing and settlement (CS) facilities; expanding the licensing, supervisory and enforcement powers of the Australian Securities and Investments Commission (ASIC) and the Reserve Bank of Australia (RBA); and transferring certain powers relating to the licensing and supervision of CS facilities and financial markets to ASIC and the RBA; Australian Securities and Investments Commission Act 2001 and Corporations Act 2001 to phase-in new climate-related financial reporting requirements for entities; and Australian Securities and Investments Commission Act 2001 , Corporations Act 2001 and Insurance Act 1973 to make minor and technical amendments.

Committee Referrals

Senate Economics Legislation Committee; Senate Standing Committee for the Scrutiny of Bills

Full bill PDF →APH page →

Audit History

Introduced

27 Mar 2024

Last updated on APH

10 Apr 2026

Outcome date

17 Sept 2024

Last checked by Crossbench

today

Full text indexed

today

🗳️

No formal division recorded

This bill passed by voice vote — parliament agreed without calling a formal count. A division is only recorded when a member explicitly requests one.

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