Paul Scarr (Queensland, Liberal Party) Share this | Hansard source

Minister, you referred to the fact that there are ways in which companies can self-report. I note that there was a case that occurred last year where an agreement was entered into. It was reported by the Australian Federal Police that a company called Oxiana Ltd, which became part of the OZ Minerals Ltd group, had self-reported actions of foreign bribery in Cambodia, and an agreement had been entered into between that company and the Australian Federal Police. The guidelines for prosecutions were applied, and a total of $9.3 million was paid in both penalties and forfeitures under that agreement. So for all intents and purposes, that was a deferred prosecution agreement. But the difference is that it was made under guidelines which aren't part of the laws of Australia. Wouldn't it be better to have a deferred prosecution scheme made under a bill passed by this parliament, as opposed to agreements, as the agreement was made last year, under guidelines which have not been passed by this parliament?