Division Description Changes — Bills — Treasury Laws Amendment (Mergers and Acquisitions Reform) Bill 2024; Report from Federation Chamber — 21st Nov 2024

Change	Division
representatives vote 2024-11-21#1 Edited by mackay staff on 2024-11-24 12:48:15	Title Bills — Treasury Laws Amendment (Mergers and Acquisitions Reform) Bill 2024; Report from Federation Chamber Treasury Laws Amendment (Mergers and Acquisitions Reform) Bill 2024 - Report from Federation Chamber - Coalition amendment Description ~~<p class="speaker">Milton Dick</p>~~ ~~<p>The question before the House is the amendment be agreed to.</p>~~ ~~<p></p>~~ ~~<p></p>~~ The majority voted against an [amendment](https://www.aph.gov.au/Parliamentary_Business/Hansard/Hansard_Display?bid=chamber/hansardr/28041/&sid=0000) to the usual second reading motion, which is "that the bill be read a second time" (parliamentary jargon for agreeing with the main idea of the bill). The amendment was introduced by Hume MP [Angus Taylor](https://theyvoteforyou.org.au/people/representatives/hume/angus_taylor) (Liberal). ### Amendment text > That all words after "That" be omitted with a view to substituting the following words: > *> "whilst not declining to give** the bill a second reading, the House notes:* > >> (1) the government has failed to recognise competition risks and sector-specific challenges within the supermarket, hardware, and aviation sectors, and failed to make meaningful progress on the Consumer Data Right, and News Media Bargaining Code; >> >> (2) the Coalition support strong competition policy and the principle of an aligning our merger laws with international best practice; and >> >> (3) the Coalition has concerns about this legislation, namely: >> >>> (a) the feasibility of scaled pre-approval and the risk for cost blowouts for the ACCC; >>> >>> (b) the impact on business activity, innovation—particularly for SMEs and start ups; >>> >>> (c) the compliance burden being imposed across the economy, compared to targeted and structural ex-post remedies; and >>> >>> (d) the need to balance regulatory action with market confidence".

~~Milton Dick~~
~~The question before the House is the amendment be agreed to.~~
~~~~
~~~~
The majority voted against an [amendment](https://www.aph.gov.au/Parliamentary_Business/Hansard/Hansard_Display?bid=chamber/hansardr/28041/&sid=0000) to the usual second reading motion, which is "*that the bill be read a second time*" (parliamentary jargon for agreeing with the main idea of the bill). The amendment was introduced by Hume MP [Angus Taylor](https://theyvoteforyou.org.au/people/representatives/hume/angus_taylor) (Liberal).
### Amendment text
> *That all words after "That" be omitted with a view to substituting the following words:*
>
> *"whilst not declining to give the bill a second reading, the House notes:*
>
>> *(1) the government has failed to recognise competition risks and sector-specific challenges within the supermarket, hardware, and aviation sectors, and failed to make meaningful progress on the Consumer Data Right, and News Media Bargaining Code;*
>>
>> *(2) the Coalition support strong competition policy and the principle of an aligning our merger laws with international best practice; and*
>>
>> *(3) the Coalition has concerns about this legislation, namely:*
>>
>>> *(a) the feasibility of scaled pre-approval and the risk for cost blowouts for the ACCC;*
>>>
>>> *(b) the impact on business activity, innovation—particularly for SMEs and start ups;*
>>>
>>> *(c) the compliance burden being imposed across the economy, compared to targeted and structural ex-post remedies; and*
>>>
>>> *(d) the need to balance regulatory action with market confidence".*