The Financial Sector Legislation Amendment (Prudential Refinements and Other Measures) Bill 2010 has been passed by both Houses of Parliament and is awaiting assent.

The Bill expand APRA’s supervisory powers.

UPDATE: The Bill received Royal Assent on 29 June 2010.

Financial Sector Legislation Amendment (Prudential Refinements and Other Measures) Act 2010 now available on ComLaw here.