The majority voted in favour of a motion to read the bill for a third time.(Read more about the stages a bill must pass through here. ) This means that the majority reject the main idea of the bill and that it will no longer be considered.
Because this is the second time this bill has been rejected in the Senate (see below), it is potentially a trigger for a double dissolution. However, it is up to the Government to use it to call a full Senate and House of Representatives election.(Read more on ABC News here. )
Background to the bill
The Clean Energy Finance Corporation (Abolition) Bill 2013 (No. 2) was introduced after the Clean Energy Finance Corporation (Abolition) Bill 2013 was rejected in the Senate last year.(See that division here.)
The bill has been introduced to abolish the Clean Energy Finance Corporation, which was created by the previous Labor Government with the Clean Energy Finance Corporation Bill 2012. It is a fund dedicated to investing in renewable energy generation.