Senate debates

Wednesday, 30 March 2022

Bills

Treasury Laws Amendment (Cyclone and Flood Damage Reinsurance Pool) Bill 2022; In Committee

12:08 pm

Photo of Nick McKimNick McKim (Tasmania, Australian Greens) Share this | Hansard source

I move amendment (1) on sheet 1570, standing in my name.

(1) Schedule 1, item 26, page 20 (lines 15 to 20), omit section 41, substitute:

41 Review of Act

(1) The Minister must prepare a report that reviews the need:

(a) to extend the cyclone reinsurance scheme to cover loss or damage caused by any and all natural disasters, including bushfires, storms and hail; and

(b) for this Act to continue in operation.

(2) The report must be prepared:

(a) as soon as practicable after 1 July 2025; and

(b) at least once every 5 years after that day.

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