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senate vote 2023-03-28#18

Edited by mackay staff

on 2023-04-07 09:54:56

Title

  • Bills — National Reconstruction Fund Corporation Bill 2023; in Committee
  • National Reconstruction Fund Corporation Bill 2023 - in Committee - No financing goal, gas and native forest logging

Description

  • <p class="speaker">Andrew McLachlan</p>
  • <p>I will now deal with the amendments circulated by the opposition.</p>
  • The majority voted in favour of keeping subclauses 63(3) and (4) as they are. This division took place after the Opposition proposed that they be opposed.
  • ### What are subclauses 63(3) and (4)?
  • > *63 Investment functions*
  • >
  • > *(3) An investment of a Corporation body must not:*
  • >
  • >> *(a) directly finance the extraction of coal or natural gas; or*
  • >>
  • >> *(b) directly finance the construction of pipeline infrastructure primarily for the extraction of natural gas; or*
  • >>
  • >> *(c) directly finance the logging of native forests.*
  • >
  • > *(4) In this section:*
  • >
  • >> *native forest does not include a plantation.*
  • >>
  • >> *plantation means an intensively managed stand of trees that is created by the regular placement of seedlings or seed.*
  • <p class="italic"> <i>Opposition's circulated amendments&#8212;</i></p>
  • <p class="italic">SHEET 1872</p>
  • <p class="italic">(1) Clause 63, page 39 (lines 4 to 13), subclauses (3) and (4) to be opposed.</p>
  • <p>The question before the chair is that subclauses 63(3) and (4) stand as printed.</p>
  • <p></p>
  • <p></p>