George Brandis (Queensland, Liberal Party, Attorney-General) Share this | Hansard source

Can I perhaps deal with Senator Xenophon's questions. Senator Xenophon, in relation to the quantum of the assets seized under the legislation which this bill amends, I am advised that because of limitations in the existing act, which this legislation seeks to correct, there have been no assets seized. The legislation, as I am advised, as currently written, has been ineffective and that is why this bill is being brought forward by the government, to make it more effective through the various measures that the chamber has been discussing.

Secondly, Senator, you asked whether the government has given any consideration to whether or not organised criminal gangs or organised criminal syndicates will seek to, as it were, siphon or launder assets through associated entities. Of course, the government has considered that. That is always an issue in legislation of this kind and the legislation does, as I understand it, contain associated entity provisions and the capacity to trace through associated entities, trusts, third-party structures so that the purpose of the legislation cannot be thwarted by channelling or funnelling money through devices of that character.