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senate vote 2014-07-17#12

Edited by system

on 2014-10-07 16:22:20

Title

Description

  • The majority voted in favour of a [http://www.openaustralia.org/senate/?gid=2014-07-17.80.3 motion] "''that [http://www.openaustralia.org/senate/?gid=2014-07-17.76.1 amendments] (1) to (5) and (14) to (16) be agreed to''",(Read the amendments [http://www.openaustralia.org/senate/?gid=2014-07-17.76.1 here]. ) which means that they were successful. The amendments were introduced by Labor Senator [http://publicwhip-rails.openaustraliafoundation.org.au/mp.php?mpn=Kim_Carr&mpc=Senate&house=senate Kim Carr].
  • Senator Carr explained that the purpose of the amendments is to "save the [https://www.education.gov.au/education-investment-fund Education Investment Fund]" ('EIF'),(Read Senator Carr's full explanation of the amendment and the related debate [http://www.openaustralia.org/senate/?id=2014-07-17.70.1 here], after 1.35 pm. ) which the bill in its current form will abolish after its funds are redirected to the newly created Asset Recycling Fund. The EIF was established by the [http://www.finance.gov.au/investment-funds/nation-building-funds/act/ Nation-building Funds Act 2008] to replace the Higher Education Endowment Fund (HEEF). It provides funding to projects that "create or develop significant infrastructure in higher education, research and vocational education and training institutions".(Read more about the EIF [https://www.education.gov.au/education-investment-fund here]. )
  • ''Background to the bills''
  • The [http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22legislation%2Fbillhome%2Fr5255%22 Asset Recycling Fund Bill 2014] and the related [http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22legislation%2Fbillhome%2Fr5256%22 Asset Recycling Fund (Consequential Amendments) Bill 2014] were introduced to create the Asset Recycling Fund ('ARF').
  • The ARF is the fund from which grants to states and territories will be sourced under the Asset Recycling Initiative ('ARI'), which was developed to assist states to privatise assets and to speed up the construction of transport infrastructure in capital cities.(Read the Deputy Prime Minister [http://publicwhip-rails.openaustraliafoundation.org.au/mp.php?mpn=Warren_Truss&mpc=Wide%20Bay&house=representatives Warren Truss]'s comments on the initiative on ABC's PM program [http://www.abc.net.au/pm/content/2014/s4000807.htm here]. ) Under the ARI, states and territories will be encouraged to sell assets, including transport infrastructure, and use the proceeds to fund new public infrastructure. By way of encouragement, the Commonwealth will provide a financial contribution of 15 per cent of the asset value of the sale that is used to fund the new infrastructure.(See the [http://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/bd/bd1314a/14bd090 bills digest] for more information. )
  • The [http://en.wikipedia.org/wiki/COAG Council of Australian Governments] voted in favour of the ARI on 2 May 2014.(Read more about COAG's decision to agree with the ARI on ABC News [http://www.abc.net.au/news/2014-05-02/coag-agrees-to-hockeys-asset-sale-plans/5424964 here].)
  • The majority voted in favour of a [motion](http://www.openaustralia.org/senate/?gid=2014-07-17.80.3) "_that [amendments](http://www.openaustralia.org/senate/?gid=2014-07-17.76.1) (1) to (5) and (14) to (16) be agreed to_",(Read the amendments [here](http://www.openaustralia.org/senate/?gid=2014-07-17.76.1). ) which means that they were successful. The amendments were introduced by Labor Senator [Kim Carr](http://publicwhip-rails.openaustraliafoundation.org.au/mp.php?mpn=Kim_Carr&mpc=Senate&house=senate).
  • Senator Carr explained that the purpose of the amendments is to "save the [Education Investment Fund](https://www.education.gov.au/education-investment-fund)" ('EIF'),(Read Senator Carr's full explanation of the amendment and the related debate [here](http://www.openaustralia.org/senate/?id=2014-07-17.70.1), after 1.35 pm. ) which the bill in its current form will abolish after its funds are redirected to the newly created Asset Recycling Fund. The EIF was established by the [Nation-building Funds Act 2008](http://www.finance.gov.au/investment-funds/nation-building-funds/act/) to replace the Higher Education Endowment Fund (HEEF). It provides funding to projects that "create or develop significant infrastructure in higher education, research and vocational education and training institutions".(Read more about the EIF [here](https://www.education.gov.au/education-investment-fund). )
  • _Background to the bills_
  • The [Asset Recycling Fund Bill 2014](http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22legislation%2Fbillhome%2Fr5255%22) and the related [Asset Recycling Fund (Consequential Amendments) Bill 2014](http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22legislation%2Fbillhome%2Fr5256%22) were introduced to create the Asset Recycling Fund ('ARF').
  • The ARF is the fund from which grants to states and territories will be sourced under the Asset Recycling Initiative ('ARI'), which was developed to assist states to privatise assets and to speed up the construction of transport infrastructure in capital cities.(Read the Deputy Prime Minister [Warren Truss](http://publicwhip-rails.openaustraliafoundation.org.au/mp.php?mpn=Warren_Truss&mpc=Wide%20Bay&house=representatives)'s comments on the initiative on ABC's PM program [here](http://www.abc.net.au/pm/content/2014/s4000807.htm). ) Under the ARI, states and territories will be encouraged to sell assets, including transport infrastructure, and use the proceeds to fund new public infrastructure. By way of encouragement, the Commonwealth will provide a financial contribution of 15 per cent of the asset value of the sale that is used to fund the new infrastructure.(See the [bills digest](http://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/bd/bd1314a/14bd090) for more information. )
  • The [Council of Australian Governments](http://en.wikipedia.org/wiki/COAG) voted in favour of the ARI on 2 May 2014.(Read more about COAG's decision to agree with the ARI on ABC News [here](http://www.abc.net.au/news/2014-05-02/coag-agrees-to-hockeys-asset-sale-plans/5424964).)
senate vote 2014-07-17#12

Edited by system

on 2014-10-07 16:17:01

Title

Description

  • The majority voted in favour of a [http://www.openaustralia.org/senate/?gid=2014-07-17.80.3 motion] "''that [http://www.openaustralia.org/senate/?gid=2014-07-17.76.1 amendments] (1) to (5) and (14) to (16) be agreed to''",[1] which means that they were successful. The amendments were introduced by Labor Senator [http://publicwhip-rails.openaustraliafoundation.org.au/mp.php?mpn=Kim_Carr&mpc=Senate&house=senate Kim Carr].
  • The majority voted in favour of a [http://www.openaustralia.org/senate/?gid=2014-07-17.80.3 motion] "''that [http://www.openaustralia.org/senate/?gid=2014-07-17.76.1 amendments] (1) to (5) and (14) to (16) be agreed to''",(Read the amendments [http://www.openaustralia.org/senate/?gid=2014-07-17.76.1 here]. ) which means that they were successful. The amendments were introduced by Labor Senator [http://publicwhip-rails.openaustraliafoundation.org.au/mp.php?mpn=Kim_Carr&mpc=Senate&house=senate Kim Carr].
  • Senator Carr explained that the purpose of the amendments is to "save the [https://www.education.gov.au/education-investment-fund Education Investment Fund]" ('EIF'),[2] which the bill in its current form will abolish after its funds are redirected to the newly created Asset Recycling Fund. The EIF was established by the [http://www.finance.gov.au/investment-funds/nation-building-funds/act/ Nation-building Funds Act 2008] to replace the Higher Education Endowment Fund (HEEF). It provides funding to projects that "create or develop significant infrastructure in higher education, research and vocational education and training institutions".[3]
  • Senator Carr explained that the purpose of the amendments is to "save the [https://www.education.gov.au/education-investment-fund Education Investment Fund]" ('EIF'),(Read Senator Carr's full explanation of the amendment and the related debate [http://www.openaustralia.org/senate/?id=2014-07-17.70.1 here], after 1.35 pm. ) which the bill in its current form will abolish after its funds are redirected to the newly created Asset Recycling Fund. The EIF was established by the [http://www.finance.gov.au/investment-funds/nation-building-funds/act/ Nation-building Funds Act 2008] to replace the Higher Education Endowment Fund (HEEF). It provides funding to projects that "create or develop significant infrastructure in higher education, research and vocational education and training institutions".(Read more about the EIF [https://www.education.gov.au/education-investment-fund here]. )
  • ''Background to the bills''
  • The [http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22legislation%2Fbillhome%2Fr5255%22 Asset Recycling Fund Bill 2014] and the related [http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22legislation%2Fbillhome%2Fr5256%22 Asset Recycling Fund (Consequential Amendments) Bill 2014] were introduced to create the Asset Recycling Fund ('ARF').
  • The ARF is the fund from which grants to states and territories will be sourced under the Asset Recycling Initiative ('ARI'), which was developed to assist states to privatise assets and to speed up the construction of transport infrastructure in capital cities.[4] Under the ARI, states and territories will be encouraged to sell assets, including transport infrastructure, and use the proceeds to fund new public infrastructure. By way of encouragement, the Commonwealth will provide a financial contribution of 15 per cent of the asset value of the sale that is used to fund the new infrastructure.[5]
  • The ARF is the fund from which grants to states and territories will be sourced under the Asset Recycling Initiative ('ARI'), which was developed to assist states to privatise assets and to speed up the construction of transport infrastructure in capital cities.(Read the Deputy Prime Minister [http://publicwhip-rails.openaustraliafoundation.org.au/mp.php?mpn=Warren_Truss&mpc=Wide%20Bay&house=representatives Warren Truss]'s comments on the initiative on ABC's PM program [http://www.abc.net.au/pm/content/2014/s4000807.htm here]. ) Under the ARI, states and territories will be encouraged to sell assets, including transport infrastructure, and use the proceeds to fund new public infrastructure. By way of encouragement, the Commonwealth will provide a financial contribution of 15 per cent of the asset value of the sale that is used to fund the new infrastructure.(See the [http://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/bd/bd1314a/14bd090 bills digest] for more information. )
  • The [http://en.wikipedia.org/wiki/COAG Council of Australian Governments] voted in favour of the ARI on 2 May 2014.[6]
  • The [http://en.wikipedia.org/wiki/COAG Council of Australian Governments] voted in favour of the ARI on 2 May 2014.(Read more about COAG's decision to agree with the ARI on ABC News [http://www.abc.net.au/news/2014-05-02/coag-agrees-to-hockeys-asset-sale-plans/5424964 here].)
  • ''References''
  • * [1] Read the amendments [http://www.openaustralia.org/senate/?gid=2014-07-17.76.1 here].
  • * [2] Read Senator Carr's full explanation of the amendment and the related debate [http://www.openaustralia.org/senate/?id=2014-07-17.70.1 here], after 1.35 pm.
  • * [3] Read more about the EIF [https://www.education.gov.au/education-investment-fund here].
  • * [4] Read the Deputy Prime Minister [http://publicwhip-rails.openaustraliafoundation.org.au/mp.php?mpn=Warren_Truss&mpc=Wide%20Bay&house=representatives Warren Truss]'s comments on the initiative on ABC's PM program [http://www.abc.net.au/pm/content/2014/s4000807.htm here].
  • * [5] See the [http://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/bd/bd1314a/14bd090 bills digest] for more information.
  • * [6] Read more about COAG's decision to agree with the ARI on ABC News [http://www.abc.net.au/news/2014-05-02/coag-agrees-to-hockeys-asset-sale-plans/5424964 here].
senate vote 2014-07-17#12

Edited by MA

on 2014-07-24 12:19:21

Title

  • Asset Recycling Fund Bill 2014 and Asset Recycling Fund (Consequential Amendments) Bill 2014 - In Committee - Education Investment Fund
  • Asset Recycling Fund Bill 2014 and Asset Recycling Fund (Consequential Amendments) Bill 2014 In Committee Education Investment Fund

Description

  • The majority voted in favour of a [http://www.openaustralia.org/senate/?gid=2014-07-17.80.3 motion] "''that [http://www.openaustralia.org/senate/?gid=2014-07-17.76.1 amendments] (1) to (5) and (14) to (16) be agreed to''",[1] which means that they were successful. The amendments were introduced by Labor Senator [http://publicwhip-rails.openaustraliafoundation.org.au/mp.php?mpn=Kim_Carr&mpc=Senate&house=senate Kim Carr].
  • Senator Carr explained that the purpose of the amendments is to "save the [https://www.education.gov.au/education-investment-fund Education Investment Fund]" ('EIF'),[2] which the bill in its current form will abolish after its funds are redirected to the newly created Asset Recycling Fund. The EIF was established by the [http://www.finance.gov.au/investment-funds/nation-building-funds/act/ Nation-building Funds Act 2008] to replace the Higher Education Endowment Fund (HEEF). It provides funding to projects that "create or develop significant infrastructure in higher education, research and vocational education and training institutions".[3]
  • ''Background to the bill''
  • ''Background to the bills''
  • The Asset Recycling Fund ('ARF') is the fund from which grants to states and territories will be sourced under the Asset Recycling Initiative ('ARI'), which was developed to assist states to privatise assets and to speed up the construction of transport infrastructure in capital cities.[4] Under the ARI, states and territories will be encouraged to sell assets, including transport infrastructure, and use the proceeds to fund new public infrastructure. By way of encouragement, the Commonwealth will provide a financial contribution of 15 per cent of the asset value of the sale that is used to fund the new infrastructure.[5]
  • The [http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22legislation%2Fbillhome%2Fr5255%22 Asset Recycling Fund Bill 2014] and the related [http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22legislation%2Fbillhome%2Fr5256%22 Asset Recycling Fund (Consequential Amendments) Bill 2014] were introduced to create the Asset Recycling Fund ('ARF').
  • The ARF is the fund from which grants to states and territories will be sourced under the Asset Recycling Initiative ('ARI'), which was developed to assist states to privatise assets and to speed up the construction of transport infrastructure in capital cities.[4] Under the ARI, states and territories will be encouraged to sell assets, including transport infrastructure, and use the proceeds to fund new public infrastructure. By way of encouragement, the Commonwealth will provide a financial contribution of 15 per cent of the asset value of the sale that is used to fund the new infrastructure.[5]
  • The [http://en.wikipedia.org/wiki/COAG Council of Australian Governments] voted in favour of the ARI on 2 May 2014.[6]
  • ''References''
  • * [1] Read the amendments [http://www.openaustralia.org/senate/?gid=2014-07-17.76.1 here].
  • * [2] Read Senator Carr's full explanation of the amendment and the related debate [http://www.openaustralia.org/senate/?id=2014-07-17.70.1 here], after 1.35 pm.
  • * [3] Read more about the EIF [https://www.education.gov.au/education-investment-fund here].
  • * [4] Read the Deputy Prime Minister [http://publicwhip-rails.openaustraliafoundation.org.au/mp.php?mpn=Warren_Truss&mpc=Wide%20Bay&house=representatives Warren Truss]'s comments on the initiative on ABC's PM program [http://www.abc.net.au/pm/content/2014/s4000807.htm here].
  • * [5] See the [http://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/bd/bd1314a/14bd090 bills digest] for more information.
  • * [6] Read more about COAG's decision to agree with the ARI on ABC News [http://www.abc.net.au/news/2014-05-02/coag-agrees-to-hockeys-asset-sale-plans/5424964 here].
senate vote 2014-07-17#12

Edited by MA

on 2014-07-24 11:40:25

Title

  • Bills — Asset Recycling Fund Bill 2014, Asset Recycling Fund (Consequential Amendments) Bill 2014; in Committee
  • Asset Recycling Fund Bill 2014 and Asset Recycling Fund (Consequential Amendments) Bill 2014 - In Committee - Education Investment Fund

Description

  • <p class="speaker">Mathias Cormann</p>
  • <p>I table a supplementary explanatory memorandum relating to the government amendments to be moved to the Asset Recycling Fund Bill 2014.</p>
  • <p class="speaker">Stephen Conroy</p>
  • The majority voted in favour of a [http://www.openaustralia.org/senate/?gid=2014-07-17.80.3 motion] "''that [http://www.openaustralia.org/senate/?gid=2014-07-17.76.1 amendments] (1) to (5) and (14) to (16) be agreed to''",[1] which means that they were successful. The amendments were introduced by Labor Senator [http://publicwhip-rails.openaustraliafoundation.org.au/mp.php?mpn=Kim_Carr&mpc=Senate&house=senate Kim Carr].
  • Senator Carr explained that the purpose of the amendments is to "save the [https://www.education.gov.au/education-investment-fund Education Investment Fund]" ('EIF'),[2] which the bill in its current form will abolish after its funds are redirected to the newly created Asset Recycling Fund. The EIF was established by the [http://www.finance.gov.au/investment-funds/nation-building-funds/act/ Nation-building Funds Act 2008] to replace the Higher Education Endowment Fund (HEEF). It provides funding to projects that "create or develop significant infrastructure in higher education, research and vocational education and training institutions".[3]
  • ''Background to the bill''
  • The Asset Recycling Fund ('ARF') is the fund from which grants to states and territories will be sourced under the Asset Recycling Initiative ('ARI'), which was developed to assist states to privatise assets and to speed up the construction of transport infrastructure in capital cities.[4] Under the ARI, states and territories will be encouraged to sell assets, including transport infrastructure, and use the proceeds to fund new public infrastructure. By way of encouragement, the Commonwealth will provide a financial contribution of 15 per cent of the asset value of the sale that is used to fund the new infrastructure.[5]
  • The [http://en.wikipedia.org/wiki/COAG Council of Australian Governments] voted in favour of the ARI on 2 May 2014.[6]
  • ''References''
  • * [1] Read the amendments [http://www.openaustralia.org/senate/?gid=2014-07-17.76.1 here].
  • * [2] Read Senator Carr's full explanation of the amendment and the related debate [http://www.openaustralia.org/senate/?id=2014-07-17.70.1 here], after 1.35 pm.
  • * [3] Read more about the EIF [https://www.education.gov.au/education-investment-fund here].
  • * [4] Read the Deputy Prime Minister [http://publicwhip-rails.openaustraliafoundation.org.au/mp.php?mpn=Warren_Truss&mpc=Wide%20Bay&house=representatives Warren Truss]'s comments on the initiative on ABC's PM program [http://www.abc.net.au/pm/content/2014/s4000807.htm here].
  • * [5] See the [http://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/bd/bd1314a/14bd090 bills digest] for more information.
  • * [6] Read more about COAG's decision to agree with the ARI on ABC News [http://www.abc.net.au/news/2014-05-02/coag-agrees-to-hockeys-asset-sale-plans/5424964 here].
  • <p>I have a suggestion that may assist our progress. Given that the opposition is supporting all of the government's amendments, I am offering the minister the opportunity to move them together. I am not sure if the Greens have an alternative view, but I am offering that opportunity.</p>
  • <p class="speaker">Scott Ludlam</p>
  • <p>In speaking on behalf of the Australian Greens, I am happy, Senator Cormann, if you want to move government amendments en bloc. The Greens will be supporting them all.</p>
  • <p class="speaker">Mathias Cormann</p>
  • <p>by leave&#8212;I move government amendments (1) to (20) on sheet HT101:</p>
  • <p class="italic">(1) Clause 2, page 1 (line 9), omit "1 July 2014", substitute "the day after this Act receives the Royal Assent".</p>
  • <p class="italic">(2) Clause 4, page 3 (lines 30 and 31), omit "<i>Financial Management and Accountability Act 1997</i>", substitute "<i>Public Governance, Performance and Accountability Act 2013</i>".</p>
  • <p class="italic">(3) Clause 4, page 4 (lines 24 and 25), omit "<i>Financial Management and Accountability Act 1997</i>", substitute "<i>Public Governance, Performance and Accountability Act 2013</i>".</p>
  • <p class="italic">(4) Clause 8, page 9 (line 1), omit "appropriate", substitute "permissible".</p>
  • <p class="italic">(5) Clause 8, page 9 (line 3), omit "powers", substitute "power".</p>
  • <p class="italic">(6) Clause 12, page 11 (lines 10 to 12), omit "Special Account for the purposes of the <i>Financial Management and Accountability Act 1997</i>", substitute "special account for the purposes of the <i>Public Governance, Performance and Accountability Act 2013</i>".</p>
  • <p class="italic">(7) Clause 12, page 11 (lines 13 to 17), omit "Special Account" (wherever occurring), substitute "special account".</p>
  • <p class="italic">(8) Clause 13, page 12 (line 5), omit "On the commencement of this section", substitute "At the start of the 28th day after this section commences".</p>
  • <p class="italic">(9) Clause 13, page 12 (line 17), omit "On the commencement of this section", substitute "At the start of the 28th day after this section commences".</p>
  • <p class="italic">(10) Clause 16, page 15 (lines 16 and 17), omit the note, substitute:</p>
  • <p class="italic">Note: See section 80 of the <i>Public Governance, Performance and Accountability Act 2013 </i>(which deals with special accounts).</p>
  • <p class="italic">(11) Clause 17, page 17 (lines 13 and 14), omit the note, substitute:</p>
  • <p class="italic">&#160;&#160;Note: See section 80 of the <i>Public Governance, Performance and Accountability Act 2013 </i>(which deals with special accounts).</p>
  • <p class="italic">(12) Clause 21, page 19 (line 22), at the end of subclause (2), add "The State or Territory must comply with any such terms and conditions.".</p>
  • <p class="italic">(13) Clause 22, page 20 (lines 2 and 3), omit "Special Account for the purposes of the <i>Financial Management and Accountability Act 1997</i>", substitute "special account for the purposes of the <i>Public Governance, Performance and Accountability Act 2013</i>".</p>
  • <p class="italic">(14) Clause 22, page 20 (lines 4 to 8), omit "Special Account" (wherever occurring), substitute "special account".</p>
  • <p class="italic">(15) Clause 23, page 20 (lines 14 and 15), omit the note, substitute:</p>
  • <p class="italic">&#160;&#160;Note: See section 80 of the <i>Public Governance, Performance and Accountability Act 2013 </i>(which deals with special accounts).</p>
  • <p class="italic">(16) Clause 27, page 22 (line 12), at the end of subclause (2), add "The person must comply with any such terms and conditions.".</p>
  • <p class="italic">(17) Clause 28, page 22 (line 26), at the end of subclause (2), add "The person must comply with any such terms and conditions.".</p>
  • <p class="italic">(18) Clause 34, page 26 (line 23), omit "On the day that this section commences", substitute "On the 28th day after this section commences".</p>
  • <p class="italic">(19) Clause 34, page 27 (line 14), omit "On the day that this section commences", substitute "On the 28th day after this section commences".</p>
  • <p class="italic">(20) Clause 35, page 28 (lines 17 and 18), omit "Section 39 of the <i>Financial Management and Accountability Act 1997</i>", substitute "Section 58 of the <i>Public Governance, Performance and Accountability Act 2013</i> (which deals with investment by the Commonwealth)".</p>
  • <p>We also appose clause 47 in the following terms:</p>
  • <p class="italic">(21) Clause 47, page 36 (lines 26 to 28), to be opposed.</p>
  • <p>The Asset Recycling Fund Bill 2014 and the Asset Recycling Fund (Consequential Amendments) Bill 2014 establish a new fund as a vehicle for providing financial assistance and incentives to states and territories to invest in infrastructure. The new fund is necessary, as I have just said in my summing up speech, to support the government's asset recycling initiatives. The amendments being introduced by the government are primarily a necessary consequence of delays to the passage of the bill through parliament. Amendment (1) revises the commencement date from 1 July 2014 to the day after the bill receives royal assent. This will ensure that the parliament does not pass legislation that has retrospective effect.</p>
  • <p>Amendments (2), (3), (6), (7), (10), (11), (13) to (15), (20) and (21) are minor amendments taking into account that the Public Governance, Performance and Accountability Act 2013 took effect on 1 July. Amendments (4) and (5) clarify the Commonwealth can only make payments where it is permissible to do so under its executive power. These amendments provide clarity on what the government has the power to do under the Constitution. They ensure that this government and future governments cannot do anything under the bill that is inconsistent with this power. Amendments (8), (9), (18) and (19) ensure the Future Fund board of guardians has sufficient time to transfer $5.9 billion of uncommitted balances from the Education Investment Fund and the Building Australia Fund to the Asset Recycling Fund. Amendments (12), (16) and (17) ensure that the recipients of incentives and contributions towards large-scale infrastructure, including states and territories, are bound by the terms and conditions of the agreements under which funding is provided. The amendments strengthen accountability requirements that provide taxpayers with further confidence that funding is used for purposes allowed under the proposed legislation.</p>
  • <p class="speaker">Stephen Conroy</p>
  • <p>Labor do not oppose these amendments. These amendments are just dates of effect, correcting new legislation and make miscellaneous minor amendments to the bill. Once again, we note the government is being forced to amend its own bill.</p>
  • <p class="speaker">Scott Ludlam</p>
  • <p>There is always a sting in the tail, isn't there? If the bill had been properly drafted in the first place, we would not be here. Nonetheless, as far as the Australian Greens are concerned, while opposing the entire intent of the bill and the thinking that underlies it, these amendments are technical and largely administrative in nature. I think Senator Cormann has reflected accurately their intent and the Greens will not be opposing them.</p>
  • <p class="speaker">Dean Smith</p>
  • <p>Before putting the question, I advise that amendments (1) to (20) will be put and then amendment (21) will need to be put separately. The question is that amendments (1) to (20) moved by Senator Cormann be agreed.</p>
  • <p>Question agreed to.</p>
  • <p>The TEMPORARY CHAIRMAN: The question now is that amendment (21) moved by Senator Cormann be dealt with. The question is that clause 47 stand as printed.</p>
  • <p>Question negatived.</p>
  • <p class='motion-notice motion-notice-truncated'>Long debate text truncated.</p>