Nick Xenophon (SA, Independent) Share this | Hansard source

I seek leave to amend business of the Senate notice of motion No. 3 by deleting the word ‘foreign’ in subsection (b).

Leave granted.

Senator XENOPHON—I move the motion as amended:

That the following matter be referred to the Economics References Committee for inquiry and report by 30 June 2011:The proposed acquisition of the Australian Stock Exchange (ASX) by Singapore Exchange Limited (SGX), with particular reference to:

(a)

whether such an acquisition would be in the national interest;

(b)

whether the 15 per cent ownership cap on the ASX is appropriate;

(c)

whether the revised proposed composition of the merged board and governance arrangements (as announced on 15 February 2011) are appropriate;

(d)

the Government of Singapore’s interest in the SGX and its role in the proposed merged entity;

(e)

what impact such an acquisition might have on Australia’s ability to attract investment; and

(f)

any other related matters.