House debates

Thursday, 12 May 2011


Corporations Amendment (Improving Accountability on Director and Executive Remuneration) Bill 2011; Consideration in Detail

11:47 am

Photo of Tony SmithTony Smith (Casey, Liberal Party, Deputy Chairman , Coalition Policy Development Committee) Share this | Hansard source

These late amendments to the government's own bill—which were circulated on Tuesday, on budget day—are obviously, for the reasons the parliamentary secretary has outlined, mechanical amendments to assist with the smooth introduction of this bill. On this occasion the opposition is glad that the government has listened to concerns about the smooth introduction of this bill and these amendments delay three provisions—I think the parliamentary secretary said—for just one month.

Given that we are now debating this in May, I take it from the parliamentary secretary that the necessity for these amendments has arisen because it was his expectation that this bill would have been dealt with on 24 March. My recollection is that we got very close to finalising debate on 24 March, which was a long day, from memory, as we were waiting for things to return from the Senate. I take it that the length of the break—which I do not blame the parliamentary secretary for—in the sitting schedule from 24 March to 10 May, is the reason that it has become necessary to delay for one month. Taking his assurance that that is the case, I can understand how in those circumstances, with these measures due to come into effect very soon and with the bill to go to the Senate following our conclusion today, it has become necessary for him to move these amendments to deal with the implementation.

Question agreed to.

Bill, as amended, agreed to.


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