Senate debates

Wednesday, 18 October 2017

Bills

Regional Investment Corporation Bill 2017; In Committee

11:01 am

Photo of Anne RustonAnne Ruston (SA, Liberal Party, Assistant Minister for Agriculture and Water Resources) Share this | Hansard source

As I've said previously, we believe that the level of control, governance and oversight that is contained in the proposal that is before us is appropriate for the actions and the operations of the instrumentality. We believe there are roles for executive government, there are roles for this parliament and obviously there are roles that will be delegated to the board of the organisation. I particularly reiterate that this entity is required to have the reporting obligations of the corporation exist under the Public Governance, Performance and Accountability Act. These obligations require that a corporate plan be prepared and published on the corporation's website. The corporation must also prepare annual reports to be tabled in parliament by the responsible ministers. The corporation's annual reports must include a statement of performance which sets out the results, measurements and assessment identified in the entity's corporate plan, and the annual reports also need to detail any directions issued by the responsible ministers.

So I would just reiterate that there are a number of existing requirements that are set out by normal government procedure that will apply to this organisation, not the least of which is the PGPA Act. Also, as we've mentioned before, the Senate has appropriate levels of scrutiny in relation to the Senate estimates process, through which you have the capacity to prosecute any of the issues that you are raising.

The CHAIR: The question is that the amendments as moved by Senator Brown on sheet 8225, being amendments (1), (3), (4) and (6), be agreed to.

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