royal_assent
Financial Services Compensation Scheme of Last Resort Levy (Collection) Bill 2023
Portfolio: Treasury
Introduced8 March 2023
Passed House22 March 2023
Passed Senate22 June 2023
Royal assent3 July 2023
In plain English
Banks and financial companies must now pay a levy to fund compensation for customers who lose money when their provider fails.
Source: Australian Parliament House bill record
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