Jenny McAllister (NSW, Australian Labor Party, Assistant Minister for Climate Change and Energy) Share this | Hansard source

Thanks for the question, Senator Pocock. I did step through that in my second reading remarks, but I am happy to touch on it in brief terms again. I think, for a number of reasons, we didn't support the Senate making a direction of this kind. The first reason is that, essentially, this power exists with the ACCC. The Treasurer has a capacity to require an inquiry of this kind, but, in the end, the ACCC has a capacity for investigation, and they establish their priorities according to their resources and the issues before them. I think the second one was really about time frames. There is a new compliance framework being developed. It includes the ability to gather information from stakeholders and share information with relevant regulators on matters of noncompliance. There is a framework which is being brought forward. In the meantime, as I indicated in the second reading remarks, there are a number of existing powers which apply to participants in this market.