Division Description Changes — Committees — Economics References Committee; Reference — 16th Mar 2021

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senate vote 2021-03-16#1

Edited by mackay staff

on 2022-07-08 12:20:57

Title

  • Committees — Economics References Committee; Reference
  • Committees - Economics References Committee - Reference

Description

  • <p class="speaker">Anne Urquhart</p>
  • <p>At the request of Senator Gallacher, I move:</p>
  • The majority voted in favour of the [motion](https://www.openaustralia.org.au/senate/?id=2021-03-16.95.2) below, which means it passed.
  • ### Motion text
  • > *That—*
  • >
  • > *(1) The Senate notes:*
  • >
  • >> *(a) the Treasury Laws Amendment (2021 Measures No.1) Bill 2021 was introduced in the House of Representatives and read a first time on 17 February 2021;*
  • >>
  • >> *(b) on 18 February 2021, the Senate referred the provisions of the bill to the Economics Legislation Committee (the committee) for inquiry and report by 12 March 2021;*
  • >>
  • >> *(c) on 25 February 2021, the Senate extended the reporting date to 30 June 2021;*
  • >>
  • >> *(d) despite the decision of the Senate on 25 February 2021, the committee tabled its report on the bill on 12 March 2021, with many interested parties unable to make submissions to the shorter inquiry; and*
  • >
  • > *(2) The provisions of the Treasury Laws Amendment (2021 Measures No. 1) Bill 2021 be referred to the Economics References Committee for inquiry and report by 30 June 2021.*
  • >
  • > *(3) Notwithstanding any earlier committee report on the bill, following introduction in the Senate debate on the bill be adjourned until the first sitting day in August 2021.*
  • <p class="italic">That&#8212;</p>
  • <p class="italic">(1) The Senate notes:</p>
  • <p class="italic">(a) the Treasury Laws Amendment (2021 Measures No.1) Bill 2021 was introduced in the House of Representatives and read a first time on 17 February 2021;</p>
  • <p class="italic">(b) on 18 February 2021, the Senate referred the provisions of the bill to the Economics Legislation Committee (the committee) for inquiry and report by 12 March 2021;</p>
  • <p class="italic">(c) on 25 February 2021, the Senate extended the reporting date to 30 June 2021;</p>
  • <p class="italic">(d) despite the decision of the Senate on 25 February 2021, the committee tabled its report on the bill on 12 March 2021, with many interested parties unable to make submissions to the shorter inquiry; and</p>
  • <p class="italic">(2) The provisions of the Treasury Laws Amendment (2021 Measures No. 1) Bill 2021 be referred to the Economics References Committee for inquiry and report by 30 June 2021.</p>
  • <p class="italic">(3) Notwithstanding any earlier committee report on the bill, following introduction in the Senate debate on the bill be adjourned until the first sitting day in August 2021.</p>
  • <p class="speaker">Jonathon Duniam</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">Jonathon Duniam</p>
  • <p>The bill extends the expiry date of existing temporary relief, allowing companies and their officers to meet regulatory requirements in respect of, amongst other things, document execution and virtual meetings using digital technologies, to 15 September 2021 and makes permanent the temporary changes made to continuous disclosure laws in May 2020, which are due to expire on 22 March this year. The government consulted extensively on these measures, including via submissions, reports and stakeholder meetings on the temporary reforms, hearings as part of the Senate Select Committee on Financial Technology and Regulatory Technology and a consultation on exposure draft legislation.</p>
  • <p class="speaker">Scott Ryan</p>
  • <p>The question is that business of the Senate matter No. 1 be agreed to.</p>