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Last updated Wednesday 20 January, 2021 1:22 PM

CapMon Updates

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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Today's Events

Calendar

See our Diary and Calendar pages for more detailed information.

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Top Headlines

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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20 JAN 2021: PRODUCTIVITY COMMISSION: Report on Government Services 2021 - Part A: Approach to performance reporting - Report

20 JAN 2021: PRODUCTIVITY COMMISSION: Report on Government Services 2021 - Part F: Community Services - Report

20 JAN 2021: PRODUCTIVITY COMMISSION: Report on Government Services 2021 - Part G: Housing and homelessness - Report

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Recent Acts

Federal
Act Name Date of Assent Act No.
Wine Australia Amendment (Label Directory) Act 2020 17/12 132
Anti-Money Laundering and Counter-Terrorism Financing and Other Legislation Amendment Act 2020 17/12 133
Australian Security Intelligence Organisation Amendment Act 2020 17/12 134
Financial Sector Reform (Hayne Royal Commission Response) Act 2020 17/12 135
Social Security (Administration) Amendment (Continuation of Cashless Welfare) Act 2020 17/12 136
Corporations (Fees) Amendment (Hayne Royal Commission Response) Act 2020 17/12 137
Export Market Development Grants Legislation Amendment Act 2020 17/12 138
Immigration (Education) Amendment (Expanding Access to English Tuition) Act 2020 17/12 139
Social Services and Other Legislation Amendment (Extension of Coronavirus Support) Act 2020 17/12 140
Treasury Laws Amendment (2020 Measures No. 6) Act 2020 17/12 141
Civil Aviation (Unmanned Aircraft Levy) Act 2020 17/12 142
Civil Aviation Amendment (Unmanned Aircraft Levy Collection and Payment) Act 2020 17/12 143
Customs Charges and Levies Legislation Amendment (Sheep and Lamb) Act 2020 17/12 144
Excise Levies Legislation Amendment (Sheep and Lamb) Act 2020 17/12 145
Defence Legislation Amendment (Enhancement of Defence Force Response to Emergencies) Act 2020 17/12 146
Aged Care Amendment (Aged Care Recipient Classification) Act 2020 17/12 147
Aviation Legislation Amendment (Liability and Insurance) Act 2020 17/12 148
Bankruptcy (Estate Charges) Amendment (Norfolk Island) Act 2020 17/12 149
Health Insurance Amendment (Compliance Administration) Act 2020 17/12 150
Radiocommunications Legislation Amendment (Reform and Modernisation) Act 2020 17/12 151
Radiocommunications (Receiver Licence Tax) Amendment Act 2020 17/12 152
Radiocommunications (Transmitter Licence Tax) Amendment Act 2020 17/12 153
Territories Legislation Amendment Act 2020 17/12 154

See Capital Monitor's Federal Bills Monitor and Acts Assented pages for detailed coverage.

Australian Capital Territory
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.

New South Wales
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.

Northern Territory
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.

Queensland
Act Name Date of Assent Act No.
Criminal Code (Child Sexual Offences Reform) and Other Legislation Amendment Act 2020 14/09 32
Meriba Omasker Kaziw Kazipa (Torres Strait Islander Traditional Child Rearing Practice) Act 2020 14/09 33
Criminal Code and Other Legislation (Wage Theft) Amendment Act 2020 14/09 34
Public Service and Other Legislation Amendment Act 2020 14/09 35
Appropriation (Parliament) Act 2020 14/09 36
Appropriation Act 2020 14/09 37
COVID-19 Emergency Response and Other Legislation Amendment Act 2020 04/12 38

See Capital Monitor's Queensland Bills Monitor and Acts Assented pages for detailed coverage.

South Australia
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.

Tasmania
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.

Victoria
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.

Western Australia
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.

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Political Calendar

Federal

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.

Australian Capital Territory

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.

New South Wales

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.

Northern Territory

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.

Queensland

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.

South Australia

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.

Tasmania

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.

Victoria

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.

Western Australia

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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