Zed Seselja (ACT, Liberal Party, Assistant Minister for Treasury and Finance) Share this | Hansard source

Just briefly, as I indicated earlier, the government will be supporting the opposition amendment. The government is committed to fostering a more innovative and creative Australian economy, and crowdfunding enables start-ups and early-stage businesses to access the funding they need. Of course, in order to secure legislative passage and to implement this important reform as soon as possible the government agrees with this amendment.

Since this bill was introduced, the CSF framework for public companies has been implemented, intermediaries have been licensed, offers successfully made and preparation for the extension to proprietary companies has been advanced considerably. The government has conducted consultations on the draft regulations needed to support this extension and is ready to put them in place promptly following the passage of the bill.

Bill, as amended, agreed to.

Bill reported with an amendment; report adopted.