Chris Bowen (Prospect, Australian Labor Party, Minister for Financial Services, Superannuation and Corporate Law) Share this | Hansard source

I move:

(1)    Clause 2, page 1 (lines 7 and 8), omit the clause, substitute:

2  Commencement

                 This Act commences on the day after this Act receives the Royal Assent.

This is a very straightforward amendment. The passage of this bill has been delayed in the Senate. The original bill had a commencement date of 1 January 2010. Clearly, that is not now possible unless the legislation were to be retrospective, which the government does not believe is appropriate. Accordingly, this amendment changes the commencement date to the day after it receives royal consent.

Also, I have tabled some very minor and technical amendments to the explanatory memorandum which correct small errors. Subsection 129AEB(5) deals with the application of a 50 per cent increase to the penalty in certain circumstances, including when the total amount of the previous debts is more than $30,000. The EM incorrectly states that the threshold is $2,500, which is corrected in the amendment I have handed forward.

As I said in my earlier remarks, there has been very good engagement between the government and the opposition on this bill, both with the former shadow minister for human services, Senator Scullion, and the current shadow minister for human services, the member for Menzies. I acknowledge that and I acknowledge the good faith in which these matters have been discussed between the government and the opposition.

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