Jane Hume (Victoria, Liberal Party, Assistant Minister for Superannuation, Financial Services and Financial Technology) Share this | Hansard source

This fund has an enormous responsibility. I think that's something that the government is very aware of, but it's also something that the other shareholders will be aware of, too, as will the independent directors that participate in the Business Growth Fund. While there isn't anything explicit in this bill that says that the ownership structures well down the food chain will be looked at, there is no reason why that wouldn't be something that would be considered. In fact, I'd be surprised if it weren't. But, that's not what this bill is about. This bill is about enabling the Commonwealth to be a part of this Business Growth Fund and to invest in the Business Growth Fund. And that investment mandate and all the decisions that are made in choosing the companies in which the Business Growth Fund will invest have to be made down the track. They can't be made at this early stage. I think, too, that you should feel comfort, Senator Patrick, in the safeguards provided by a three-year review, which is Labor's amendment—which I would love you to move. I hope we can get around to moving Labor's amendment, because I think that that three-year review should provide you with the comfort that there is an opportunity to look back on what it is that this fund is going to invest in and decide whether it's doing the job that it set out to do.