The legislation, the Taxation Laws (Clearing and Settlement Facility Support) Bill 2003, concerns the proposed transfer of funds from the National Guarantee Fund under Section 891A of the Corporations Act.
As foreshadowed by ASX in November 2002, ASX has sought Ministerial approval for the transfer to ACH commensurate with the clearing guarantee liabilities it will be taking on.
ASX also understands a period of public consultation will occur before any Ministerial decision is made.