"The bill proposes legislative amendments to the Corporations Act 2001 (the Corporations Act) which include: streamlining the disclosure regime for simple corporate bonds; changing directors' civil liability provisions in respect to simple corporate bonds issued to retail investors; clarifying the application of directors' defences in respect to misleading and deceptive statements and omissions in disclosure documents relating to simple corporate bonds issued to retail investors; and restricting the use of the terms 'financial planner' and 'financial adviser'. The bill has two distinct schedules which relate to: simple corporate bonds (Schedule 1); and the use of the expressions 'financial planner' and 'financial adviser' (Schedule 2)."--Introduction and conduct of the inquiry.
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