AUSSIE BANK BAIL IN LAWS NOW IN FORCE

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TheBlackStump
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AUSSIE BANK BAIL IN LAWS NOW IN FORCE

Unread post by TheBlackStump » Thu May 17, 2018 2:14 pm

During the impending global financial crisis a relatively unknown Aussie Act of Parliament is now officially in place. The Turnbull Liberal Govt can and will legally, without warning, freeze everyones bank and other financial accounts including superannuation. The Liberals will enact this legislation on Australians when the time is right. Remember Greece and Cyprus. It can all happen with just a few keystrokes of a computer.

http://cecaust.com.au/main.asp?sub=bail ... n2017.html

On February 14 2018, the Federal Parliament passed the Financial Sector Legislation Amendment (Crisis Resolution Powers and Other Measures) Bill 2017, which gives the Australian Prudential Regulation Authority (APRA) extraordinary powers during a financial crisis, including the possibility to confiscate deposits in order to rescue collapsing banks ("bail-in"). The Bill was examined by the Senate Economics Legislation committee, after great pressure on MPs from our mobilisation. The Bill became an Act on Monday 5 March when it was given Royal Assent.

https://en.wikipedia.org/wiki/Royal_assent

Royal assent or sanction is the method by which a country's monarch (possibly through a delegated official) formally approves an act of that nation's parliament. In certain nations, such assent makes the act law (promulgation) while in other nations assent is distinct from promulgation. In the vast majority of contemporary monarchies, this act is considered to be little more than a formality; even in those nations which still permit their monarchs to withhold royal assent (such as the United Kingdom, Norway, and Liechtenstein), the monarch almost never does so, save in a dire political emergency or upon the advice of their government. While the power to withhold royal assent was once exercised often in European monarchies, it is exceedingly rare in the modern, democratic political atmosphere that has developed there since the 18th century.

TheBlackStump
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Posts: 261
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Re: AUSSIE BANK BAIL IN LAWS NOW IN FORCE

Unread post by TheBlackStump » Thu May 17, 2018 2:29 pm

Financial Sector Legislation Amendment (Crisis Resolution Powers and Other Measures) Act 2018

https://www.legislation.gov.au/Details/C2018A00010

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