Senate debates

Wednesday, 26 November 2008

Guarantee Scheme for Large Deposits and Wholesale Funding Appropriation Bill 2008

In Committee

6:45 pm

Photo of Helen CoonanHelen Coonan (NSW, Liberal Party, Manager of Opposition Business in the Senate) Share this | Hansard source

I will make a very brief comment, given the hour, and just indicate to Senator Brown that, whilst I appreciate the sentiments behind seeking a sunset clause, if you think it through, obviously this act and the operation of the act need to stay in place for the life of the guarantee. The amendment does not contemplate any provision for the act to continue so long as there are deeds of guarantee in place, so it would not be appropriate in those circumstances for the opposition to be supporting a sunset clause of the kind contemplated.

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