The majority voted against amendments introduced by Tasmanian Senator Peter Whish-Wilson, which means they failed.

What do these amendments do?

Senator Whish-Wilson explained that:

This amendment in a nutshell directly relates any penalties or punitive measures to accountable persons or executives to their size under this scheme. We believe that an ADI, an authorised deposit-taking institution, which is liable for pecuniary penalties, should receive a penalty in line with their company size or their value. So the bigger the bank the bigger the fine. It's pretty simple and it's outlined in the amendment. We believe that the maximum amount of pecuniary penalties is an amount at the rate 10 penalty units for every million dollars in assets for those ADIs that are captured by this legislation.

Amendment text

(1) Schedule 1, item 1, page 20 (lines 8 to 25), omit section 37G, substitute:

37G Pecuniary penalty for non-compliance with this Part.

(1) An ADI is liable to a pecuniary penalty if:

(a) an ADI contravenes its obligations under this Part (other than this Division); and

(b) the contravention relates to prudential matters.

(2) The maximum amount of pecuniary penalty is an amount at the rate of 10 penalty units for every $1,000,000 in assets, of the ADI within the control (however described) of the part of the ADI's banking business that is carried out in Australia.

(3) In determining the pecuniary penalty, the Federal Court of Australia must have regard to the impact that the penalty would have on the viability of the ADI.

(4) Subsection (3) does not limit subclause 1(3) of Schedule 2.

(5) This section is a civil penalty provision.

Votes Not passed by a modest majority

Nobody rebelled against their party.

Party Votes
Cory Bernardi SA Australian Conservatives No
Australian Greens (100% turnout) 9 Yes 0 No
Andrew Bartlett Queensland Yes
Richard Di Natale Victoria Yes
Sarah Hanson-Young SA Yes
Nick McKim Tasmania Yes
Lee Rhiannon NSW Yes
Janet Rice Victoria Yes
Rachel Siewert WA Yes
Jordon Steele-John WA Yes
Peter Whish-Wilson Tasmania Yes
Australian Labor Party (42% turnout) 0 Yes 10 No
Don Farrell SA No
Alex Gallacher SA No
Chris Ketter Queensland No
Gavin Marshall Victoria No
Jenny McAllister NSW No
Malarndirri McCarthy NT No
Claire Moore Queensland No
Deborah O'Neill NSW No
Louise Pratt WA No
Glenn Sterle WA No
Catryna Bilyk Tasmania Absent
Carol Brown Tasmania Absent
Doug Cameron NSW Absent
Kim Carr Victoria Absent
Anthony Chisholm Queensland Absent
Jacinta Collins Victoria Absent
Patrick Dodson WA Absent
Katy Gallagher ACT Absent
Kimberley Kitching Victoria Absent
Helen Polley Tasmania Absent
Lisa Singh Tasmania Absent
Anne Urquhart Tasmania Absent
Murray Watt Queensland Absent
Penny Wong SA Absent
Nigel Scullion NT Country Liberal Party Absent
Derryn Hinch Victoria Derryn Hinch's Justice Party Absent
Sue Lines WA Deputy President Absent
Fraser Anning Queensland Independent No
Lucy Gichuhi SA Independent No
David Leyonhjelm NSW Liberal Democratic Party No
Liberal National Party (0% turnout) Absent
Matthew Canavan Queensland Absent
James McGrath Queensland Absent
Liberal Party (64% turnout) 0 Yes 14 No
Eric Abetz Tasmania No
Simon Birmingham SA No
Slade Brockman WA No
David Bushby Tasmania No
Mathias Cormann WA No
Jonathon Duniam Tasmania No
David Fawcett SA No
Concetta Fierravanti-Wells NSW No
Jane Hume Victoria No
Jim Molan NSW No
James Paterson Victoria No
Linda Reynolds WA No
Zed Seselja ACT No
Dean Smith WA No
George Brandis Queensland Absent
Michaelia Cash WA Absent
Mitch Fifield Victoria Absent
Lucy Gichuhi SA Absent
Ian Macdonald Queensland Absent
Marise Payne NSW Absent
Anne Ruston SA Absent
Arthur Sinodinos NSW Absent
National Party (33% turnout) 0 Yes 1 No
Barry O'Sullivan Queensland No
Bridget McKenzie Victoria Absent
John Williams NSW Absent
Nick Xenophon Team (100% turnout) 2 Yes 0 No
Stirling Griff SA Yes
Rex Patrick SA Yes
Pauline Hanson's One Nation Party (100% turnout) 3 Yes 0 No
Brian Burston NSW Yes
Peter Georgiou WA Yes
Pauline Hanson Queensland Yes
Scott Ryan Victoria President Absent
Totals (60% turnout) 14 Yes – 29 No