Nick Sherry (Tasmania, Australian Labor Party, Minister for Superannuation and Corporate Law) Share this | Hansard source

It is regulation; spot on. It is regulation and supervision that is entirely necessary in the current market circumstances. We are going to ban short selling. We are going to boost the powers of ASIC to ensure that the corporate watchdog has the necessary powers, and we are going to put in place the world’s best practice disclosure regime—that is if those opposite will allow us to, because what they are proposing to do is to defer for three months this vital bill to underpin confidence in the Australian stock market. They are going to defer this bill, on a motion to come to the Senate later today, for a further three months. Let me be very, very clear. Every day that the legislative gap remains open on disclosure— (Time expired)