Financial Framework (Supplementary Powers) Amendment (Treasury Measures No. 1) Regulations 2022 (Cth)

Financial Framework (Supplementary Powers) Amendment (Treasury Measures No. 1) Regulations 2022

I, General the Honourable David Hurley AC DSC (Retd), Governor‑General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulations.

Dated 18 August 2022

David Hurley

Governor‑General

By His Excellency’s Command

Katy Gallagher

Minister for Finance

Contents

1Name

This instrument is the Financial Framework (Supplementary Powers) Amendment (Treasury Measures No. 1) Regulations 2022.

2Commencement

1. (1)

   Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Commencement information
Column 1	Column 2	Column 3
Provisions	Commencement	Date/Details
1. The whole of this instrument	The day after this instrument is registered.	19 August 2022

Note: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

1. (2)

   Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3Authority

This instrument is made under the Financial Framework (Supplementary Powers) Act 1997.

4Schedules

Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Schedule 1Amendments

Financial Framework (Supplementary Powers) Regulations 1997

1. 1

   In the appropriate position in Part 4 of Schedule 1AB (table)

Insert:

556 Youpla Group Funeral Benefits Program To make payments to eligible persons in respect of the death of a person whose death was covered by an eligible funeral insurance policy issued by a company in the group of companies known as the Youpla Group, in circumstances where the policy has been affected by the collapse and liquidation of those companies. This objective has the effect it would have if it were limited to measures: (a) with respect to insurance, other than State insurance (within the meaning of paragraph 51(xiv) of the Constitution); or (b) with respect to bankruptcy or insolvency (within the meaning of paragraph 51(xvii) of the Constitution); or (c) with respect to Indigenous Australians and particular groups of Indigenous Australians.