John Faulkner (NSW, Australian Labor Party) Share this | Hansard source

I was going to say that he would have had some understanding of their involvement in the Labor Party and the Australian political process. But, although he had meetings with Eddie Obeid Jr—who is from a very notorious family, I might say—he has indicated that he did not know that the Obeid family had an interest in Australian Water Holdings. I am perplexed by that. I am perplexed that someone who has had such a long experience in politics attended meetings with the person about such matters and it apparently never occurred to him that he had interest in the company.

Let me be clear about this. I am not suggesting that Senator Sinodinos acted corruptly. Not for one moment am I suggesting that Senator Sinodinos acted corruptly. I would not do that. I am not doing it. I would not do that. But I do suggest that Senator Sinodinos, in these circumstances, should make a full and complete statement to the Senate about his involvement in Australia Water Holdings, particularly as the only statement he has made—which he stands by—was made more than a year ago and on at least three parts that statement warrants further explanation to this chamber.

I am not going to take the time of the Senate to make clear again my view about those individuals in the Labor Party who I do know have acted corruptly in certain matters. Everyone knows the contempt in which I hold those individuals. And I do not accept an argument, and I will never accept the argument that appears to be being mounted, that if someone acts improperly in one political party then that is apparently some sort of defence broadly for the political behaviours of others. I do not accept that and I state again: in fact, unlike others, I do not argue wrongdoing on Senator Sinodinos's part. I am not arguing he has acted corruptly. I am arguing he should make a full explanation to the Senate for the reasons I have outlined.

I happen to believe that that is even more important given Senator Sinodinos's ministerial responsibility for the Corporations Act, for corporate governance. I have mentioned before the duties of company directors: care and diligence, good faith, proper use of position and proper use of information. We all know that ministers in any government must be able to assure the parliament—and, of course, to assure the Australian public—at all times that, in their private capacity, they have upheld the law and have demonstrated high standards of personal integrity. Of course, any individual who is the director of a company also has serious responsibilities about their conduct.

But what I argue for is full transparency on these matters. That is what this motion calls for: a full explanation from Senator Sinodinos. In these circumstances I would say to the Australian Senate that the case is absolutely overwhelming. I would urge Senator Sinodinos to make such a statement. I happen to believe, as I said yesterday, that it is very much in his interest to make such a statement. Any minister in that circumstance, I believe, should make such a statement, and I believe that Senator Sinodinos in this case simply has no choice.