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

The majority voted against a motion that part 4 and item 127 of schedule 2 stand as printed. In other words, they voted to oppose those parts, which was proposed by the Government. The parts related to the ASX Limited and CS facility licensees.

What are the opposed parts?

Schedule 2, Part 4

Part 4 — Ministerial power to approve increases in voting power in ASX Limited

Corporations Act 2001

36 Subsection 850B(1)

Omit “(1)”.

37 Paragraphs 850B(1)(b) and (c)

Repeal the paragraphs, substitute:

(b) if an approval of a higher percentage is in force under Subdivision B in relation to the body and in relation to the person—that higher percentage.

38 Subsection 850B(2)

Repeal the subsection.

39 Subsection 851A(1)

Omit “(other than the Australian Stock Exchange Limited)”.

Schedule 2, item 127

127 Subsection 821A(2)

Omit “ paragraph (1)(aa), (a), (c), (d), (e), (f), (g) or (h)”, substitute “a paragraph of subsection (1) other than paragraph (b)”.