Dean Smith (WA, Liberal Party, Shadow Assistant Minister for Competition, Charities and Treasury) Share this | Hansard source

I rise to share with the chamber that the coalition, having supported the Intellectual Property Laws Amendment (Regulator Performance) Bill 2023 in the House of Representatives, will be supporting the bill in this place. On this side of the Senate, we know that regulation must continue to serve that which it seeks to regulate and remain fit for purpose.

To comprehend this bill, we must consider first the importance of the Trade Marks Act 1995 in the regulation of intellectual property in Australia. The Trade Marks Act provides protection for logos, phrases, colours and sounds to the extent to which these trademarks serve as the distinctive markers of brands and their offerings. Further, the Olympic Insignia Protection Act 1987 safeguards the symbolic elements associated with the Olympic Games. The act bestows exclusive rights to the Australian Olympic Committee for the use and exploitation of Olympic symbols and expressions aiming to protect the sanctity and identity of the Olympics. This, of course, is crucial as we prepare for the 2032 summer Olympic Games in Brisbane. The evolving nature of intellectual property laws does, however, necessitate periodic reassessment. The existing framework, though robust, encounters challenges in certain facets, particularly in the realm of the Olympic insignia. The bill, comprised of six parts, endeavours to address these challenges whilst also ensuring that regulatory amendments stay true to the principles of effectiveness and capability.

I'm pleased to say that the bill seeks to legislate changes that were originally contained in the Regulator Performance Omnibus Bill 2022, first introduced by the former coalition government in February 2022. The omnibus bill sought to update or remove outdated administrative provisions across Commonwealth legislation that, firstly, imposed unnecessary regulatory burdens; secondly, prevented regulators from engaging with business; and, thirdly, supported compliance in a modern and flexible way. The omnibus bill of 2022 subsequently lapsed with the dissolution of the last parliament.

The coalition believes that the provisions in this bill, which are congruent with those contained in the omnibus bill of 2022, will have a positive regulatory impact and will give effect to technical improvements identified in the 2021 whole-of-government review of regulator performance, initiated by the former coalition government. The coalition is proud to have contributed to this body of work and is pleased to see it debated in the Senate today. The former coalition government's deregulation agenda has delivered dividends, and will continue to do so, with reforms including simplified business activity statements, Single Touch Payroll and the online hiring employees checklist—an employment contract tool that enables employers to generate an employment contract in just five minutes. These regulatory reforms taken together are expected to generate economic benefits to the tune of $21 billion over a decade, and it is precisely this long-term thinking that can establish the necessary preconditions for industry to thrive in our country once again.

In conclusion, the coalition believes the Intellectual Property Laws Amendment (Regulator Performance) Bill 2023 endeavours to uphold the principle that regulation should serve that which it seeks to regulate and remain adaptable to the times. It is on this basis that the bill should be supported. Whilst ensuring support from key stakeholders, including the Australian and international Olympic committees, the coalition supports this bill, which recognises the intricacies it identified when in government. These are the intricacies that are inherent in maintaining a regulatory framework that can stand the test of time and provide certainty to Australian industry.