Parliamentary path cleared for Australian covered bond issuance in 2011 [UPDATED]
- Thursday, 15 September 2011
The amendment to Australia's Banking Act that will pave the way for a domestic covered bonds regime has now cleared the parliamentary process, having passed through the upper house on the nod on October 13 and received royal assent on October 17. The bill completed its passage through the lower house – with bipartisan support – on October 12 and was immediately fast-tracked in the Senate.
