Nick Sherry (Tasmania, Australian Labor Party, Minister for Superannuation and Corporate Law) Share this | Hansard source

As I have said, we have acted to restore confidence in the market. Certainly, it is particularly important. With the lifting of the recent temporary ban on covered short selling in respect of non-financial stock, the regulator has introduced an interim disclosure regime in respect of covered short selling, but it needs legislative support. It needs a legislative framework. Therefore, we presented legislation to the parliament that will come into the Senate next week. But, unfortunately, there is a threat to ensuring certainty around this legislative framework. The Liberal opposition, after three inquiries, have indicated that they are going to remove the disclosure requirements—the reporting requirements—and the penalties in respect of nondisclosure of covered short selling. After a year and three inquiries, including one they initiated, the Liberal opposition cannot make up their mind. (Time expired)