Fraser Anning (Queensland, Katter's Australian Party) Share this | Link to this | Hansard source

I move:

That the Senate—

(a) notes that:

(i) the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry ('the Royal Commission') has received more than 6800 submissions,

(ii) the Royal Commission is underfunded and does not have adequate time to hear submissions from many regional farmers, and

(iii) as reported in TheAustralian on 26 June 2018, the Royal Commission's Letters Patent are drafted in a way that excludes receivers, administrators and insolvency professionals who often act unconscionably and unethically towards farmers; and

(b) calls on the government to:

(i) facilitate the amendment of the Letters Patent to include examination of the conduct of administrators, receivers, controllers, restructuring advisors, turnaround advisors, pre-insolvency advisors or insolvency practitioners, particularly when these entities act against farmers,

(ii) extend the final reporting period by 12 months to enable the Royal Commission to hear more submissions, and

(iii) increase funding to the Royal Commission to enable it to hear more submissions.

James McGrath (Queensland, Liberal National Party, Assistant Minister to the Prime Minister) Share this | Link to this | Hansard source

I seek leave to make a short statement.

Scott Ryan (President) Share this | Link to this | Hansard source

Leave is granted for one minute.

James McGrath (Queensland, Liberal National Party, Assistant Minister to the Prime Minister) Share this | Link to this | Hansard source

While established by the government, the royal commission is independent of government, and the specific matters that the commission may decide to examine will be the commission's alone. The commissioner may, under provision (a) of the letters patent, consider the actions of anyone acting on behalf of financial services entities. The government would consider any request by the independent royal commission.

Peter Georgiou (WA, Pauline Hanson's One Nation Party) Share this | Link to this | Hansard source

I seek leave to make a short statement.

Scott Ryan (President) Share this | Link to this | Hansard source

Leave is granted for one minute.

Peter Georgiou (WA, Pauline Hanson's One Nation Party) Share this | Link to this | Hansard source

One Nation supports this motion, and I would refer to my speech to the chamber yesterday demanding that the current royal commission be granted wider powers to investigate the actions of receivers and managers once appointed by the bank. With such ongoing admissions of wrongful practices by all concerned, the banks should be held liable to cover the royal commission costs of hearing in light of their collective disgraceful behaviour to their customers.

Scott Ryan (President) Share this | Link to this | Hansard source

The question is that motion No. 920 be agreed to.

Peter Whish-Wilson (Tasmania, Australian Greens) Share this | Link to this | Hansard source

I, and also on behalf of Senators Burston, Hinch, Anning, Patrick, Leyonhjelm and Georgiou, move:

That the Senate—

(a) notes that, at the Brisbane hearings of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, Commissioner Hayne has:

  (i) stated that not everyone who wants their case to be dealt with publicly will be called before the Royal Commission, and

  (ii) stated that examination of farm finance case studies was going to take longer than expected, and has delayed examination of natural disaster insurance cases as a result;

(b) notes that the above illustrates that the Royal Commission has not been given sufficient time to properly examine all of the issues within its terms of reference; and

(c) calls upon the government to extend the Royal Commission by a period of at least twelve months.

James McGrath (Queensland, Liberal National Party, Assistant Minister to the Prime Minister) Share this | Link to this | Hansard source

I seek leave to make a short statement.

Scott Ryan (President) Share this | Link to this | Hansard source

Leave is granted for one minute.

James McGrath (Queensland, Liberal National Party, Assistant Minister to the Prime Minister) Share this | Link to this | Hansard source

While established by the government, the royal commission is independent of government and the specific matters that the commission may decide to examine are the commission's alone. The government would consider any request by the independent royal commission.

Question agreed to.