The amendments to the FOFA legislation, tabled in parliament on Wednesday morning, have been referred Economics Legislative Committee for inquiry.
Speaking to ifa, FPA general manager, policy and conduct, Dante De Gori said the Senate Selection of Bills Committee on Wednesday night decided to refer the bill to an inquiry.
"On Wednesday night they decided to refer the FOFA bill to an inquiry. Originally they had referred it to the Finance and Administration and Public Administration Committee, but later the next day they changed their mind and re-referred it to the Economics Legislative Committee, which is where it's at at the moment," said Mr De Gori.
"What they've done is they've decided this bill needs to be referred to a committee. It's quite early days, but they've posted on the website that the committee itself – which is chaired by Senator Bushby – will meet in the next week or so and they'll decide on things like the closing date for submissions and whether they're likely to have any hearings," he said.
The committee is set to report on its inquiry by 16 June.
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