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

by leave—I appreciate the comments and the sentiments expressed by Senator Joyce in relation to this matter. However, I believe it is appropriate to proceed with such an inquiry at this stage for a number of reasons including, notwithstanding that the Foreign Investment Review Board is looking at this matter now, that the committee could do some very useful work looking at the 15 per cent ownership cap of the ASX and whether it is appropriate, what role the government in Singapore plays in relation to the Singapore Exchange, what role it will play in any proposed merged entity and what impact such an acquisition could have on Australia’s ability to attract investment. I believe useful work could be done by the committee notwithstanding that the matter is still being reviewed by the Foreign Investment Review Board. It is in the public interest to look at these matters sooner rather than later.

Question put.