Senate debates

Wednesday, 18 October 2017

Bills

Regional Investment Corporation Bill 2017; In Committee

12:33 pm

Photo of Janet RiceJanet Rice (Victoria, Australian Greens) Share this | Hansard source

The Greens will be supporting this amendment from the Labor Party and think that having the level of disclosure is an important extra element to be adding to this. Again, given the issues that we've been discussing this morning about how much power is vested in the minister, having elements of transparency and accountability by the board, and particularly with a potentially small board, is really critical. I note the minister saying that the board can be up to five. You may as well say that the board could be up to 11. If you can have a board of only three, that's the minimum. If you've got a board of only three and you don't necessarily have to have the high levels of disclosure that would be required by this amendment, you have serious potential issues of accountability.

The whole way this legislation has been drafted leads us to have really serious concerns about the accountability at the ministerial level and then at the board level. As to the sorts of processes that have occurred—or the lack of process, as we have previously discussed—on significant issues, as to where the corporation is going to be located: it is very clear there was a lack of process. And this goes to the heart of the problems with this whole corporation in the way it is being set up: the lack of transparency, accountability and good governance process in its establishment.

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