Arthur Sinodinos (NSW, Liberal Party, Minister for Industry, Innovation and Science) Share this | Hansard source

The first point is this: Efic has a policy to manage conflicts, and that policy would have been applied in this particular case. The other point to make is that this organisation is subject, I believe, to a higher degree of public scrutiny than any so-called private bank, because of budget estimates, for example, and other processes of government. So I am satisfied that, subject to things like commercial-in-confidence requirements and the rest, this is an organisation that meets appropriate levels of transparency and openness. I'll have more to say about particular amendments that the senator wants to run in relation to FOI exemption in a second, when that matter is raised, but I'll leave it there for now.