{"id":"C2004L06632","name":"Financial Services Reform Act 2001 - Proclamation (08/10/2001)","slug":"financial-services-reform-act-2001-proclamation-08-10-2001","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":28275,"registerId":"commonwealth-C2004L06632-current","compilationNumber":null,"startDate":"2026-04-01","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Financial Services Reform Act 2001 - Proclamation (08/10/2001)","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\nmeta-generator: Aspose.Words for .NET 20.2\n---\n\n?xml version=\"1.0\" encoding=\"utf-8\" standalone=\"no\"?>\n\n![](image.001.png)\n\nProclamation\n\nFinancial Services Reform Act 2001\n\nI, PETER JOHN HOLLINGWORTH, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council and under subsection 2 (2) of the Financial Services Reform Act 2001, fix 11 March 2002 as the day on which that Act, other than sections 1 and 2 and Part 1 of Schedule 3 to that Act, commences.\n\nSigned and sealed with the  Great Seal of Australia  on 8 October 2001   \n\nPETER HOLLINGWORTH\n\nGovernor-General\n\nBy His Excellency's Command\n\nJOE HOCKEY\n\nMinister for Financial Services and Regulation\n\n \n\n \n","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1216},"content_quality":"ok","complexity_score":1,"scope_assessment":{"changed":false,"description":"This is a commencement proclamation that does not alter the substantive scope or policy content of the Financial Services Reform Act 2001; it merely specifies the date on which the Act comes into force."},"complexity_factors":["Single operative provision with no subsections","Zero defined terms","No conditional or contingent provisions","Extremely short length (under 200 words)","No cross-references to other legislation beyond the basic empowering provision"],"plain_english_summary":"This document is a formal proclamation by the Governor-General that switches on most of the *Financial Services Reform Act 2001*.\n\n**What it does:**\n*   It sets **11 March 2002** as the date when the Act officially becomes law and enforceable.\n*   It carves out exceptions: **sections 1 and 2** (which contain the Act's name and formal commencement rules) and **Part 1 of Schedule 3** begin earlier (typically on the day the Act receives Royal Assent).\n\n**Why it matters:**\nThe *Financial Services Reform Act 2001* was a major overhaul of Australia's financial sector. It introduced the Australian Financial Services Licence (AFSL) system, new disclosure rules for financial products, and consumer protections. This proclamation gave the finance industry a five-month transition period (from October 2001 to March 2002) to prepare for the new regime before it became legally binding."}},"importantCases":[],"_links":{"self":"/api/acts/financial-services-reform-act-2001-proclamation-08-10-2001","history":"/api/acts/financial-services-reform-act-2001-proclamation-08-10-2001/history","analysis":"/api/acts/financial-services-reform-act-2001-proclamation-08-10-2001/analysis","conflicts":"/api/acts/financial-services-reform-act-2001-proclamation-08-10-2001/conflicts","importantCases":"/api/acts/financial-services-reform-act-2001-proclamation-08-10-2001/important-cases","documents":"/api/acts/financial-services-reform-act-2001-proclamation-08-10-2001/documents"}}