The government and opposition have reached an agreement on FOFA, with implications for advisers and licensees.
A statement issued just now from finance minister Mathias Cormann reveals that the two major parties have agreed to progress a slightly amended FOFA through the parliament before year’s end, delivering crucial relief on the issue of grandfathering.
The statement explains that regulations that were disallowed will now be re-made to include:
All other elements of the government’s amendment agenda will remain disallowed and the original FOFA legislation will stand.
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