Commonwealth Numbered Acts

FINANCIAL ACCOUNTABILITY REGIME ACT 2023 (NO. 67, 2023) - SECT 3

                   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.