Bankruptcy Regulations 2021 Exposure Draft
Submission to: Attorney-General’s Department
201216_Joint Submission Bktcy Regs_FINAL
Related Projects
Superannuation Binding Death Benefit Nominations and Kinship Structures
Submission to: Treasury
Submission recommends that kinship be included as a specific category in legislation as an option for a binding death benefit nomination. This area of superannuation is complex, and binding death benefit nominations can be ruled invalid for a number of reasons. People of Aboriginal and Torres Strait Islander descent are very clear about their kinship relationships but are not able to choose their appropriate beneficiaries because such relationships are not legally recognised.
Submission recommends that kinship be included as a specific category in legislation as an option for a binding death benefit nomination. This area of superannuation is complex, and binding death benefit nominations can be ruled invalid for a number of reasons. People of Aboriginal and Torres Strait Islander descent are very clear about their kinship relationships but are not able to choose their appropriate beneficiaries because such relationships are not legally recognised.
Modernising the Telecommunications Industry Ombudsman Terms of Reference
Submission to: Telecommunications Industry Ombudsman
FCA’s submission is limited to the consideration of proposed changes to the TIO’s jurisdiction, specifically the inclusion of a new small business definition. Financial counsellors are increasingly assisting small business clients. We support the inclusion of an explicit definition of small business into the terms of reference, based on the number of employees. This is simple to understand and explain. We recommend that the definition be that a small business employs less than 100 employees. This is the definition used by the Australian Financial Complaints Authority (AFCA), the Australian Small Business and Family Enterprise Ombudsman and also reflects the ASIC exemption applying to financial counselling agencies under the Corporations Act.
FCA’s submission is limited to the consideration of proposed changes to the TIO’s jurisdiction, specifically the inclusion of a new small business definition. Financial counsellors are increasingly assisting small business clients. We support the inclusion of an explicit definition of small business into the terms of reference, based on the number of employees. This is simple to understand and explain. We recommend that the definition be that a small business employs less than 100 employees. This is the definition used by the Australian Financial Complaints Authority (AFCA), the Australian Small Business and Family Enterprise Ombudsman and also reflects the ASIC exemption applying to financial counselling agencies under the Corporations Act.