Thursday, 16 February 2017
Lending to Primary Production Customers Committee; Appointment
That a select committee, to be known as the Select Committee on Lending to Primary Production Customers, be established to inquire into and report on the regulation and practices of financial institutions in relation to primary production industries, including agriculture, fisheries and forestry, with particular reference to:
(a) the lending, and foreclosure and default practices, including constructive and non-monetary default processes;
(b) the roles of other service providers to, and agents of, financial institutions, including valuers and insolvency practitioners, and the impact of these services;
(c) the appropriateness of internal complaints handling and dispute management procedures within financial institutions; and
(d) the appropriateness of loan contract terms particular to the primary production industries, including loan-to-value ratios and provision of reasonable written notice.
(2) That the committee present its final report on or before 18 October 2017.
(3) That the committee consist of seven senators:
(a) three nominated by the Leader of the Government in the Senate;
(b) two nominated by the Leader of the Opposition in the Senate;
(c) one nominated by the Leader of the Australian Greens; and
(d) one nominated by the Leader of the Pauline Hanson's One Nation.
(a) participating members may be appointed to the committee on the nomination of the Leader of the Government in the Senate, the Leader of the Opposition in the Senate or any minority party or independent senator; and
(b) participating members may participate in hearings of evidence and deliberations of the committee, and have all the rights of members of the committee, but may not vote on any questions before the committee.
(5) That the presence of a quorum for the committee and any subcommittee be determined in accordance with the provisions of standing order 29.
(6) That the committee may proceed to the dispatch of business notwithstanding that not all members have been duly nominated and appointed and notwithstanding any vacancy.
(7) That the committee elect as chair the member nominated by the Leader of Pauline Hanson's One Nation and as deputy chair one of the members nominated by the Leader of the Government in the Senate.
(8) That the deputy chair shall act as chair when the chair is absent from a meeting of the committee or the position of chair is temporarily vacant.
(9) That, in the event of an equality of voting, the chair, or the deputy chair when acting as chair, have a casting vote.
(10) That the committee and any subcommittee have power to send for and examine persons and documents, to move from place to place, to sit in public or in private, notwithstanding any prorogation of the Parliament or dissolution of the House of Representatives, and have leave to report from time to time its proceedings and the evidence taken and such interim recommendations as it may deem fit.
(11) That the committee be provided with all necessary staff, facilities and resources and be empowered to appoint persons with specialist knowledge for the purposes of the committee with the approval of the President.
(12) That the committee be empowered to print from day to day such papers and evidence as may be ordered by it, and a daily Hansard be published of such proceedings as take place in public.