Thursday, 27 February 2020
Australian Business Growth Fund Bill 2019; In Committee
The minister is forgiven. I understand that it's not in the bill, but the bill seeks to allow for an appropriation and the Senate has a job to make sure, when we are appropriating money, that there are appropriate safeguards in place. Minister, rather than leaving it ambiguous and saying that the independent directors would likely look at it and the board may be familiar with this, simply say back to me, 'Senator, the government would actually place that requirement in any agreements that are set up subsequent to the bill passing.' And then there can be no doubt that there is an obligation upon these board members to ensure that we have transparency in respect of whether or not taxpayers' funds are being used to in some way assist a company that may have related entities in a tax haven.