Stephen Conroy (Victoria, Australian Labor Party, Deputy Leader of the Government in the Senate) Share this | Hansard source

I would like to thank all senators who have contributed to the debate. The establishment of the ACNC is positive and future-focused reform. It is evidence-based structural reform which review after review has recommended. It is reform which the NFP sector strongly supports.

The NFP sector is large and diverse, forming a key part of Australia's community and providing many important services to the disadvantaged and to those in need. As the NFP sector grows it is important to support the sector by smarter and better regulation. The NFP sector has made it clear that it wants an independent regulator with a greater focus on the needs of the sector. The ACNC will be that independent and dedicated regulator. The ACNC will drive a reduction in the regulatory burden on the NFP sector.

With the establishment of the ACNC we will have a platform for a national approach to NFP regulation. As the NFP sector grows it will be vital to support this growth by enabling the sector to consolidate its standing in the community through improved transparency and accountability.