Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

What Senator Whish-Wilson has said is not quite right. Firstly, there's the provision where payments of variable parts of the remuneration can be deferred for at least four years. But, if there is conduct in breach of the Banking Executive Accountability Regime, my advice is that there is a requirement for the bank to reduce your variable remuneration. There is a penalty, which we are confident will focus the relevant people's minds.