Last updated Wednesday 20 January, 2021 1:22 PM
Western Australian Legislation and Gazettes
The Capital Monitor digital archive now includes more than 8,800 pieces of Western Australian Subsidiary Legislation, including all legislation from 1996 to present day. Our editorial team is currently in the process of auditing the WA Gazettes collection back to 1996 to ensure there are no gaps. Current Subsidiary Legislation and Gazettes continue to be published as they become available.
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Inland Rail contracts turnout big for Aussie made
Regional Victoria will reap ongoing benefits after the Australian Rail Track Corporation signed an $80 million contract for the local manufacture of Inland Rail turnouts by Vossloh Cogifer's Australian facilities. Deputy Prime Minister and Minister for Infrastructure, Transport and Regional Development Michael McCormack said this was further evidence of the significant economic benefits the 1,700 kilometre Inland Rail connecting Melbourne to Brisbane. "The Australian Government's investment in Inland Rail is delivering a world-class freight backbone that will stimulate economic growth, build supply chain resilience and enhance market access," the Deputy Prime Minister said. "But local industries and suppliers will benefit right now as shown by the signing of this major contract. Over the next five years, Vossloh will need 32 additional people to support the design and manufacture of more than 200 turnouts primarily in Castlemaine in central Victoria."
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APRA progresses consultation on prudential standard governing insurance in superannuation
The Australian Prudential Regulation Authority (APRA) has commenced a second round of consultation on revisions to Prudential Standard SPS 250 Insurance in Superannuation (SPS 250). The proposed changes are aimed at improving superannuation member outcomes by helping trustees select the most appropriate insurance policies for their members, and monitor their ongoing relationships with insurers. The key changes to the standard address two recommendations from the financial services Royal Commission1, and reflect Government recommendations that trustees make it easier for members to opt-out of insurance, and ensure that premiums don't inappropriately erode members' retirement income.
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The Role of Collateral in Borrowing
This Reserve Bank of Australia (RBA) paper studies the role of collateral in credit markets under stress. Australian interbank markets at the time of the Lehman Brothers failure present a platform for identification, because the collateral is liquid and homogenous across borrowers (unlike in retail credit markets), the shock is large and exogenous (unlike in countries with bank failures), and there is comprehensive administrative collateralised and uncollateralised loan-level data. After the exogenous shock, collateralised and uncollateralised borrowing compositions diverge. Uncollateralised borrowing declines for ex ante riskier borrowers while collateralised borrowing increases for borrowers ex ante holding more highquality collateral. Moreover, riskier banks with sufficient high-quality collateral substitute from uncollateralised to collateralised borrowing. In aggregate, collateralised borrowing expands substantially, predominantly collateralised against second-best (but still high quality) collateral, while interest rates on loans against first-best collateral fall substantially, indicating scarcity of the mostliquid safe assets. This liquid asset demand encourages collateralised lending, contrary to cash hoarding.
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See Capital Monitor's Federal Bills Monitor and Acts Assented pages for detailed coverage.
| Act Name | Date of Assent | Act No. |
|---|---|---|
| City Renewal Authority and Suburban Land Agency Amendment Act 2020 | 03/09 | 45 |
| Public Interest Disclosure Amendment Act 2020 | 04/09 | 46 |
| Emergencies Amendment Act 2020 | 03/09 | 47 |
| Residential Tenancies Amendment Act 2020 (No 2) | 03/09 | 48 |
| Sexuality and Gender Identity Conversion Practices Act 2020 | 04/09 | 49 |
| Electricity Feed-in (Large-scale Renewable Energy Generation) Amendment Act 2020 | 03/09 | 50 |
| Electoral Amendment Act 2020 | 04/09 | 51 |
See Capital Monitor's Australian Capital Territory Bills Monitor and Acts Assented pages for detailed coverage.
| Act Name | Date of Assent | Act No. |
|---|---|---|
| Retirement Villages Amendment Act 2020 | 25/11 | 35 |
| Stronger Communities Legislation Amendment (Domestic Violence) Act 2020 | 25/11 | 36 |
| Bushfires Legislation Amendment Act 2020 | 25/11 | 37 |
| National Parks and Wildlife Legislation Amendment (Reservations) Act 2020 | 25/11 | 38 |
| Drug Supply Prohibition Order Pilot Scheme Act 2020 | 25/11 | 39 |
| Liquor Amendment (24-hour Economy) Act 2020 | 27/11 | 40 |
| Appropriation Act 2020 | 27/11 | 41 |
| Appropriation (Parliament) Act 2020 | 27/11 | 42 |
| Payroll Tax Amendment Act 2020 | 27/11 | 43 |
| Electricity Infrastructure Investment Bill 2020 | 02/12 | 44 |
See Capital Monitor's New South Wales Bills Monitor and Acts Assented pages for detailed coverage.
| Act Name | Date of Assent | Act No. |
|---|---|---|
| Appropriation (2020-2021) Act 2020 | 15/12 | 27 |
| Treasury and Finance Legislation Amendment Act 2020 | 15/12 | 28 |
See Capital Monitor's Northern Territory Bills Monitor and Acts Assented pages for detailed coverage.
See Capital Monitor's Queensland Bills Monitor and Acts Assented pages for detailed coverage.
| Act Name | Date of Assent | Act No. |
|---|---|---|
| Health Care (Safe Access) Amendment Act 2020 | 19/11 | 39 |
| Training and Skills Development (Miscellaneous) Amendment Act 2020 | 19/11 | 40 |
| Defamation (Miscellaneous) Amendment Act 2020 | 26/11 | 41 |
See Capital Monitor's South Australian Bills Monitor and Acts Assented pages for detailed coverage.
| Act Name | Date of Assent | Act No. |
|---|---|---|
| Appropriation Act (No. 1) 2020 | 17/12 | 44 |
| Appropriation Act (No. 2) 2020 | 17/12 | 45 |
| Payroll Tax Rebate (Apprentices, Trainees and Youth Employees) Amendment Act 2020 | 16/12 | 46 |
See Capital Monitor's Tasmanian Bills Monitor and Acts Assented pages for detailed coverage.
| Act Name | Date of Assent | Act No. |
|---|---|---|
| Appropriation (2020-2021) Act 2020 | 15/12 | 45 |
| Appropriation (Parliament 2020-2021) Act 2020 | 15/12 | 46 |
| State Taxation Acts Amendment Act 2020 | 15/12 | 47 |
See Capital Monitor's Victorian Bills Monitor and Acts Assented pages for detailed coverage.
| Act Name | Date of Assent | Act No. |
|---|---|---|
| Appropriation (Recurrent 2020-21) Act 2020 | 30/11 | 42 |
| Appropriation (Capital 2020-21) Act 2020 | 30/11 | 43 |
| Mutual Recognition (Western Australia) Act 2020 | 30/11 | 44 |
See Capital Monitor's Western Australian Bills Monitor and Acts Assented pages for detailed coverage.
The Federal Parliament will next sit from 2-4 February 2021.
The Budget will be handed down on 11 May 2021.
Estimates hearings will be held from were held from 24 May-4 June 2021.
The next Federal election is scheduled for 2022.
The Australian Capital Territory Parliament will next sit from 9-11 February 2021.
The next Budget will be handed down in 2021.
Estimates hearings will next be held in 2021.
The next ACT election is scheduled for 2024.
The New South Wales Parliament will next sit from 9-11 February 2021.
The Budget was handed down on 17 November 2020.
Estimates hearings are scheduled for 25 February-12 March 2021.
The next NSW election is scheduled for
25 March 2023.
The Northern Territory Parliament will next sit from 16-18 February 2021.
The Budget was handed down on 10 November 2020.
Estimates hearings are being held from for 7-10 December 2020.
The next NT election is scheduled for 2024.
The Queensland Parliament will next sit from 23-25 February 2021.
The Budget was handed down on 1 December 2020.
Estimates hearings were held from 7-15 December 2020.
The next QLD election is scheduled for 2024.
The South Australian Parliament will next sit from 2-4 February 2021.
The Budget was handed down 10 November 2020.
Estimates hearings were held from 18-24 November 2020.
The next SA election is scheduled for 19 March 2022.
The Tasmanian Parliament will next sit from 2-4 March 2021.
The Budget will be handed down 26 August 2021.
Estimates hearings were held from 23-26 November.
The next Tasmanian election is scheduled for 2022.
The Victorian Parliament will next sit from 2-4 February 2021.
The Budget was handed down on 24 November 2020.
Estimates hearings have been delayed until a date to be advised.
The next Victorian election is scheduled for 26 November 2022.
The 40th Western Australian Parliament prorogued on 7 December 2020. The Parliament will resume sitting after the 2021 State Election.
The Budget was handed down on 8 October 2020.
Estimates hearings were held from 20-22 October 2020.
The next Western Australian election is scheduled for 13 March 2021.
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