The responsibilities of the consumer director are provided for in the Bill. In essence, they are to monitor the provision of financial services to consumers and also to exercise important consumer protection powers under the Consumer Credit Act, the Investment Intermediaries Act, the Stock Exchange Act and Central Bank and insurance legislation. The Bill also sets out the reporting arrangements, etc., of the consumer director. In this regard, I draw the attention of Senators to the new section 33V(6), which will be inserted into the principal Act by section 26 of the Bill and which provides that the consumer director can report directly to the regulatory authority on any matter.