Senate debates

Tuesday, 28 March 2023

Bills

National Reconstruction Fund Corporation Bill 2023; In Committee

7:32 pm

Photo of Don FarrellDon Farrell (SA, Australian Labor Party, Minister for Trade and Tourism) Share this | Hansard source

I thank Senator Scarr for his question. The structure is there. The structure speaks for itself. There is a skills matrix. We originally started with the proposition of six board members. Following consultation with those people who have been prepared to negotiate about this, we're going to increase that number to eight. So you've got eight people that you need to match with that skills matrix, as I explained earlier. The department will look at the requirements under that skills matrix. They'll come forward with a set of names of people who they believe meet those criteria. I have the greatest confidence that in that process we're going to get some of the best people in this country, who will be able to establish this board and give advice about how the fund should be best spent in the spirit of the legislation. Having prepared those names, the department is going to then forward those names to the minister. There are no surprises about this. This is how boards—

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