Australian Government, 2012‑13 Budget
Budget

Part 3: Capital Measures (Continued)

Treasury

Insolvency practitioners — modernisation and harmonisation of the regulatory framework

Capital ($m)
2011‑12 2012‑13 2013‑14 2014‑15 2015‑16
Australian Securities and Investments Commission 5.3 1.2
Australian Securities and Investments Commission 6.4 3.7 2.7 2.8
Australian Securities and Investments Commission 1.1 1.5 1.2 1.2

The Government will provide $11.4 million over four years, (including expense funding of $5.0 million) to the Australian Securities and Investments Commission to improve the corporate insolvency practitioner registration process, practice requirements, disciplinary mechanisms and to harmonise the personal and corporate insolvency regimes.

The cost of this measure will be offset by fees charged for the lodgement of corporate insolvency notices.

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