Katy Gallagher (ACT, Australian Labor Party, Shadow Minister for Finance) Share this | Hansard source

Labor will not be supporting this amendment. This amendment would require a review of the amendments relating to schedule 2 within six months after the second anniversary of it commencing. Also, it removes the changes to schedule 2 if a review isn't conducted within that time period or isn't tabled in the parliament within 15 sitting days after the minister receives it or if a statement outlining the government's response to a review isn't made public. Let's call this out for what it is. This is an agreement or a deal reached between the government and One Nation that duds mum and dad shareholders. Putting in a statutory review two years after the measures in schedule 2 take effect does absolutely nothing for these shareholders or for retirees. They will still be kept in the dark by potentially dodgy directors who will be allowed to get away with misleading or incorrect disclosures. We didn't support the changes in the original bill and we certainly do not support the amendments proposed here by the government in their attempts to get One Nation's support.