Summary

Edit

The majority voted against a motion to disallow the ASIC Corporations (Banking Code of Practice) Instrument, which means it failed. In other words, the majority voted against taking away the legal effect of that Instrument, so it will continue to be in force. This motion was introduced by Tasmanian Senator Peter Whish-Wilson (Greens).

This instrument was introduced in order to give "ASIC’s approval of the ABA’s Banking Code of Practice". Senator Whish-Wilson explained that he wanted this Instrument disallowed because it "has no effect in law":

To be clear, the Senate is considering whether to approve ASIC's endorsement of an unenforceable code written by the banks—a voluntary code—when the banks have admitted that the version of the code that has been endorsed by ASIC isn't good enough to stop them charging fees to dead people. That's what you will be allowing today if you don't support the Greens' disallowance of this voluntary code of conduct.

This regulation is useless. It does nothing in light of the revelations of the royal commission. ASIC can't enforce the code of conduct, and it's not covered by the Competition and Consumer Act. Because it does nothing, that makes it dangerous, and I would argue that it also makes it a highly political document. This is a PR exercise for the banks.

Votes Not passed by a modest majority

Nobody rebelled against their party.

Party Votes
Cory Bernardi SA Australian Conservatives Absent
Australian Greens (100% turnout) 9 Yes 0 No
Richard Di Natale Victoria Yes
Mehreen Faruqi NSW Yes
Sarah Hanson-Young SA Yes
Nick McKim Tasmania Yes
Janet Rice Victoria Yes
Rachel Siewert WA Yes
Jordon Steele-John WA Yes
Larissa Waters Queensland Yes
Peter Whish-Wilson Tasmania Yes
Australian Labor Party (40% turnout) 0 Yes 10 No
Catryna Bilyk Tasmania No
Anthony Chisholm Queensland No
Alex Gallacher SA No
Chris Ketter Queensland No
Kimberley Kitching Victoria No
Malarndirri McCarthy NT No
Louise Pratt WA No
David Smith ACT No
Glenn Sterle WA No
Anne Urquhart Tasmania No
Carol Brown Tasmania Absent
Doug Cameron NSW Absent
Kim Carr Victoria Absent
Jacinta Collins Victoria Absent
Patrick Dodson WA Absent
Don Farrell SA Absent
Kristina Keneally NSW Absent
Gavin Marshall Victoria Absent
Jenny McAllister NSW Absent
Claire Moore Queensland Absent
Deborah O'Neill NSW Absent
Helen Polley Tasmania Absent
Lisa Singh Tasmania Absent
Murray Watt Queensland Absent
Penny Wong SA Absent
Centre Alliance (100% turnout) 0 Yes 2 No
Stirling Griff SA No
Rex Patrick SA No
Nigel Scullion NT Country Liberal Party Absent
Derryn Hinch Victoria Derryn Hinch's Justice Party Yes
Sue Lines WA Deputy President No
Tim Storer SA Independent No
Fraser Anning Queensland Independent Absent
Steve Martin Tasmania Independent Absent
David Leyonhjelm NSW Liberal Democratic Party Absent
Liberal National Party (100% turnout) 0 Yes 2 No
Matthew Canavan Queensland No
James McGrath Queensland No
Liberal Party (48% turnout) 0 Yes 11 No
Eric Abetz Tasmania No
Slade Brockman WA No
David Bushby Tasmania No
Richard Colbeck Tasmania No
Jonathon Duniam Tasmania No
David Fawcett SA No
Concetta Fierravanti-Wells NSW No
Jane Hume Victoria No
Jim Molan NSW No
Dean Smith WA No
Amanda Stoker Queensland No
Simon Birmingham SA Absent
Michaelia Cash WA Absent
Mathias Cormann WA Absent
Mitch Fifield Victoria Absent
Lucy Gichuhi SA Absent
Ian Macdonald Queensland Absent
James Paterson Victoria Absent
Marise Payne NSW Absent
Linda Reynolds WA Absent
Anne Ruston SA Absent
Zed Seselja ACT Absent
Arthur Sinodinos NSW Absent
National Party (100% turnout) 0 Yes 3 No
Bridget McKenzie Victoria No
Barry O'Sullivan Queensland No
John Williams NSW No
Pauline Hanson's One Nation Party (0.0% turnout) Absent
Peter Georgiou WA Absent
Pauline Hanson Queensland Absent
Scott Ryan Victoria President No
Brian Burston NSW United Australia Party Absent
Totals (54% turnout) 10 Yes – 31 No