Katy Gallagher (ACT, Australian Labor Party) Share this | Hansard source

In my speech in the second reading debate I flagged a number of questions and indicated that I would be moving two amendments. I seek leave to move the amendments on page 8047 together.

Leave granted.

I move:

(1) Schedule 1, item 14, page 10 (line 17), omit paragraph 738H(1) (a), substitute:

(a) the company has an agreement with a CSF intermediary that is legally enforceable;

(2) Schedule 1, item 14, page 32 (line 27), omit "48 hours", substitute "5 business days".

I would also like to flag that I want the questions put separately when the time is appropriate. I will not delay the Senate further with the amendments I am moving. Amendment (1) on page 8047 would allow privately held companies access to this important capital market. I indicated in my speech that we are moving this amendment so small businesses and start-ups are not denied access to this important new capital-raising facility due to the onerous reporting burdens and regulations of becoming a public company. Amendment (2) simply increases the investor cooling off rights from two days to five days. I hope that I can get support from the Senate for both of these important amendments.