Chris Ellison (WA, Liberal Party, Minister for Justice and Customs) Share this | Hansard source

The changes as provided for by amendment (2) were the result of industry’s requests to amend the definitions that Senator Ludwig has referred to. That was the reason for the amendment. I might just say that I have received very positive feedback from the industry in relation to the way in which the Attorney-General’s Department has handled the consultation process. I think it is fair to say that was across the board from different sectors of the financial industry in this country. As I have said, we plan to introduce the broader bill in these sittings. An exposure draft, which is almost in its final form, will be introduced in these sittings—I cannot be clearer than that—and it will naturally go to a committee. These amendments are the result of industry suggestions and we thought they were sensible.