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senate vote 2018-06-28#7
Edited by
mackay staff
on
2018-07-20 13:03:49
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Title
Motions — Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry- Motions - Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry - Funding and farmers
Description
<p class="speaker">Fraser Anning</p><p>I move:</p><p class="italic">That the Senate—</p>- The majority voted against a [motion](https://www.openaustralia.org.au/senate/?id=2018-06-28.118.1), which means it failed.
- ### Motion text
- > *That the Senate—*
- > *(a) notes that:*
- >> *(i) the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry ('the Royal Commission') has received more than 6800 submissions,*
- >> *(ii) the Royal Commission is underfunded and does not have adequate time to hear submissions from many regional farmers, and*
- >> *(iii) as reported in TheAustralian on 26 June 2018, the Royal Commission's Letters Patent are drafted in a way that excludes receivers, administrators and insolvency professionals who often act unconscionably and unethically towards farmers; and*
- > *(b) calls on the government to:*
- >> *(i) facilitate the amendment of the Letters Patent to include examination of the conduct of administrators, receivers, controllers, restructuring advisors, turnaround advisors, pre-insolvency advisors or insolvency practitioners, particularly when these entities act against farmers,*
- >> *(ii) extend the final reporting period by 12 months to enable the Royal Commission to hear more submissions, and*
- >> *(iii) increase funding to the Royal Commission to enable it to hear more submissions.*
<p class="italic">(a) notes that:</p><p class="italic">(i) the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry ('the Royal Commission') has received more than 6800 submissions,</p><p class="italic">(ii) the Royal Commission is underfunded and does not have adequate time to hear submissions from many regional farmers, and</p><p class="italic">(iii) as reported in <i>The</i><i>Australian</i> on 26 June 2018, the Royal Commission's Letters Patent are drafted in a way that excludes receivers, administrators and insolvency professionals who often act unconscionably and unethically towards farmers; and</p><p class="italic">(b) calls on the government to:</p><p class="italic">(i) facilitate the amendment of the Letters Patent to include examination of the conduct of administrators, receivers, controllers, restructuring advisors, turnaround advisors, pre-insolvency advisors or insolvency practitioners, particularly when these entities act against farmers,</p><p class="italic">(ii) extend the final reporting period by 12 months to enable the Royal Commission to hear more submissions, and</p><p class="italic">(iii) increase funding to the Royal Commission to enable it to hear more submissions.</p> <p class="speaker">James McGrath</p><p>I seek leave to make a short statement.</p> <p class="speaker">Scott Ryan</p><p>Leave is granted for one minute.</p> <p class="speaker">James McGrath</p><p>While established by the government, the royal commission is independent of government, and the specific matters that the commission may decide to examine will be the commission's alone. The commissioner may, under provision (a) of the letters patent, consider the actions of anyone acting on behalf of financial services entities. The government would consider any request by the independent royal commission.</p> <p class="speaker">Peter Georgiou</p><p>I seek leave to make a short statement.</p> <p class="speaker">Scott Ryan</p><p>Leave is granted for one minute.</p> <p class="speaker">Peter Georgiou</p><p>One Nation supports this motion, and I would refer to my speech to the chamber yesterday demanding that the current royal commission be granted wider powers to investigate the actions of receivers and managers once appointed by the bank. With such ongoing admissions of wrongful practices by all concerned, the banks should be held liable to cover the royal commission costs of hearing in light of their collective disgraceful behaviour to their customers.</p> <p class="speaker">Scott Ryan</p><p>The question is that motion No. 920 be agreed to.</p>
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