Eric Abetz (Tasmania, Liberal Party, Minister for Employment) Share this | Hansard source

I thank the Senator for the question. Our registered organisations commission legislation will have an educative aspect to it. It will also have a penalty aspect to it, bringing the officials of registered organisations into line with company directors. If as a company director you rip off your shareholders, you face five years imprisonment and over $300,000 worth of fines. If you are a union official ripping off union members, you only face a $10,000 fine. There is no material or moral difference between a company director ripping off shareholders and a union official ripping off union members. That is why we are bringing in this legislation. I can therefore indicate to the Senate that I am very pleased to advise that the government will tomorrow list the Fair Work (Registered Organisations) Amendment Bill 2014 for the Senate to reconsider.