Title page
Contents
Chair's foreword 3
Membership of the Committee 7
Abbreviations 8
List of recommendations 9
1. Analysis of the bill 10
Overview 10
Referral of the Bill 10
Objective and scope of the inquiry 11
Purpose and overview of the Bill 11
Definitions 13
Context 14
Evidence to the Royal Commission 14
Implementing the Hayne Royal Commission reforms 16
Key provisions of the bill 19
Key fact sheet 19
Valuations 19
Catch-all material adverse change clauses 20
Audits 21
30-business day notice period for general restriction covenant 21
Meeting between borrower and lender six months prior to expiry of a loan term 21
Ban on unilaterally varying terms or conditions of loans 22
Issues raised during the public hearing 22
Codification 22
Definition of a small business 25
Conclusion 27
Appendix A - Hearing and witnesses 30
Appendix B - List of Submissions 31