Commonwealth legislation

Financial Sector (Collection of Data) Act 2001 - Proclamation (28/09/2001)

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Collection

legislative instrument

Plain English Summary

1/10 complexity

This is a commencement proclamation — a formal declaration by the Governor-General that activates specific sections of an Act of Parliament.

What it does This instrument sets 1 October 2001 as the date when Parts 3 and 4 of the Financial Sector (Collection of Data) Act 2001 come into force (become legally operational).

Why this matters Parliament often passes laws where some sections start immediately, while others need a specific trigger. This proclamation acts as that trigger, switching on the substantive provisions in Parts 3 and 4 that govern how financial data is collected from institutions.

Key details

Legal basis: Subsection 2(2) of the Act
Commencement date: 1 October 2001
Effect: Parts 3 and 4 become enforceable law from this date

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Current sections

Direct links to the current provisions in Financial Sector (Collection of Data) Act 2001 - Proclamation (28/09/2001).

Financial Sector (Collection of Data) Act 2001 - Proclamation (28/09/2001)

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Proclamation

Financial Sector (Collection of Data) Act 2001

I, 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 Sector (Collection of Data) Act 2001, fix 1 October 2001 as the day on which Parts 3 and 4 of that Act commence.

Signed and sealed with the Great Seal of Australia on 28 September 2001

PETER HOLLINGWORTH

Governor-General

By His Excellency's Command

JOE HOCKEY

Minister for Financial Services and Regulation

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.