Helen Coonan (NSW, Liberal Party, Manager of Opposition Business in the Senate) Share this | Hansard source

by leave—Prior to the second reading vote, I wish to make a short statement. It was brought to my attention that I may have inadvertently mentioned a figure which is not correct. I do not think that I did, but just in case I did I will state the correct position. When I was addressing the question of thresholds, I said: ‘A substantial holding threshold has been argued to be required by industry and market participants. Industry participants argue that a disclosure exemption for positions accounting for, say’—at this point I thought I said ‘0.25 per cent’ but I may have inadvertently said ‘25 per cent’, which is not what I intended. I want to indicate that I meant to say, ‘0.25 per cent or less of the total percentage of the shares could be helpful in exempting small participants from undue administrative costs’.

Question agreed to.

Bill read a second time.