Treasury
Australian Securities and Investments Commission — electronic registration of charges
| 2006-07 | 2007-08 | 2008-09 | 2009-10 | |
|---|---|---|---|---|
| Australian Securities and Investments Commission | 1.8 | - | - | - |
| Related expense ($m) | ||||
| Australian Securities and Investments Commission | 0.2 | -0.4 | -0.8 | -0.8 |
The Government will provide $2.0 million in 2006-07 (including expense funding of $0.2 million) to the Australian Securities and Investments Commission (ASIC) to implement an electronic registration and payments system to enhance the convenience of registering company charges with ASIC. The capital funding is for software development and hardware.
The improvements in the registering of company charges will result in offsetting savings in staff costs for ASIC, which will be returned to the budget in 2007-08, 2008-09 and 2009-10.