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senate vote 2023-03-28#18
Edited by
mackay staff
on
2023-04-07 09:54:56
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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*
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- > *(3) An investment of a Corporation body must not:*
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- >> *(a) directly finance the extraction of coal or natural gas; or*
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- >> *(b) directly finance the construction of pipeline infrastructure primarily for the extraction of natural gas; or*
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- >> *(c) directly finance the logging of native forests.*
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- > *(4) In this section:*
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- >> *native forest does not include a plantation.*
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- >> *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—</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> -
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