Amanda Stoker (Queensland, Liberal Party) Share this | Link to this | Hansard source

I will now deal with the second reading and other remaining stages of the bills. The question is that the second reading amendment on sheet 1163, circulated by the opposition, be agreed to.

Opposition's circulated amendment

At the end of the motion, add:

", but the Senate notes the concerns and uncertainty around the implementation of this bill and the Coalition Government's broader failures on foreign investment."

Question negatived.

The question now is that the second reading amendment on sheet 1157, circulated by the Australian Greens, be agreed to.

Greens' circulated amendment

At the end of the motion, add ", but the Senate:

(a) notes that:

  (i) the definition of a notifiable national security action in the Foreign Investment Reform (Protecting Australia's National Security) Bill 2020 includes infrastructure defined as a critical infrastructure asset under the Security of Critical Infrastructure Act 2018,

  (ii) the Department of Home Affairs is undertaking consultation on the Exposure Draft of the Security Legislation Amendment (Critical Infrastructure) Bill 2020, and

  (iii) in respect of critical electricity assets, the Explanatory Document to the Exposure Draft states, "It is likely that an expanded set of generator assets will be captured, building on the existing approach in the rules.",

(b) calls on the Government to ensure that the threshold for critical electricity assets established under the Security of Critical Infrastructure Act 2018 is set at a level that does not have a disproportionate impact on renewable energy".

Question negatived.

I will now deal with the committee stage amendments circulated on the bill, starting with the amendments circulated by the opposition in respect of the Foreign Investment Reform (Protecting Australia's National Security) Bill 2020. The question now is that the amendments on sheet 1132, circulated by the opposition, be agreed to.

Opposition ' s circulated amendments—

(1) Clause 2, page 2 (table item 1), omit "Sections 1 to 3", substitute "Sections 1 to 5".

(2) Page 3 (after line 5), after clause 3, insert:

4 Evaluation of operation of this Act and related legislation

(1) The Secretary must conduct an evaluation of the reforms implemented by this Act and the Foreign Acquisitions and Takeovers Fees Imposition Amendment Act 2020 (the foreign investment reform Acts), including:

(a) legislative instruments made under the Foreign Acquisitions and Takeovers Act 1975 and the Foreign Acquisitions and Takeovers Fees Imposition Act 2015 to implement the foreign investment reform Acts; and

(b) administrative changes made to implement the foreign investment reform Acts.

(2) The evaluation must start as soon as practicable, and in any event within 1 month, after this section commences.

(3) The Secretary must give the Treasurer a written report of the evaluation before the end of the period of 12 months beginning on the day this section commences.

(3) Without limiting subsection (1), the evaluation and report must consider:

(a) the impact that the foreign investment reform Acts and their implementation have had on foreign investment in Australia and the broader Australian economy; and

(b) whether the right balance is struck between welcoming foreign investment and protecting Australia's national interests.

(4) The Treasurer must cause a copy of the report to be tabled in each House of the Parliament within 15 sitting days of that House after the report is given to the Treasurer.

(5) The Secretary must publish a copy of the report on the Department's website by no later than the day on which the report is tabled.

5 Delegation

(1) The Secretary may, in writing, delegate the Secretary's powers or functions under section 4 to a person engaged under the Public Service Act 1999 who is employed in the Department.

Question agreed to.

The question now is that the amendments on sheets 1138 and 1139, in respect of the Foreign Investment Reform (Protecting Australia's National Security) Bill 2020, circulated by the Australian Greens, be agreed to.

Australian Greens ' circulated amendments—

SHEET 1138

(1) Schedule 3, item 8, page 195 (after line 28), after subsection 130ZY(1), insert:

(1A) Without limiting subsection (1), the report must include statistics on the area, value, tenure and use of land in which there is a foreign interest.

SHEET 1139

(1) Schedule 1, page 34 (after line 1), after item 80, insert:

80A After section 63

Insert:

63A Publication of exemption certificate

(1) For each exemption certificate given under Division 5 of Part 2, or under the regulations, the Treasurer must, as soon as practicable after giving the certificate, publish on a website maintained by the Department:

(a) the exemption certificate; and

(b) the reasons the exemption certificate was given, including the matters of which the Treasurer was satisfied before giving the exemption certificate.

(2) For each exemption certificate varied or revoked under section 62, the Treasurer must, as soon as practicable after varying or revoking the certificate, publish on a website maintained by the Department:

(a) the exemption certificate; and

(b) the reasons the exemption certificate was varied or revoked, including the matters of which the Treasurer was satisfied before varying or revoking the exemption certificate.

(3) The Treasurer may redact from each exemption certificate and reasons required to be published under subsections (1) or (2), any information that would be contrary to national security to publicly disclose.

(2) Schedule 1, item 126, page 48 (after line 3), after section 76A, insert:

76B Publication of no objection notification

(1) For each no objection notification given under sections 74 or 75, the Treasurer must, as soon as practicable after giving the notification, publish on a website maintained by the Department:

(a) the no objection notification; and

(b) the reasons the no objection notification was given, including the matters of which the Treasurer was satisfied before giving the no objection notification.

(2) For each no objection notification varied under sections 74, 76 or 79G or revoked under section 76A, the Treasurer must, as soon as practicable after varying or revoking the notification, publish on a website maintained by the Department:

(a) the no objection notification; and

(b) the reasons the no objection notification was varied or revoked, including the matters of which the Treasurer was satisfied before varying or revoking the no objection notification.

(3) The Treasurer may redact from each no objection notification and reasons required to be published under subsections (1) or (2), any information that would be contrary to national security to publicly disclose.

(3) Schedule 2, item 40, page 150 (line 26) to page 151 (line 10), omit section 101D, substitute:

101D Publication of undertakings

(1) If the Treasurer accepts an undertaking in relation to a provision mentioned in subsection 101C(1), the Treasurer must, as soon as practicable after accepting the undertaking, publish on a website maintained by the Department:

(a) the undertaking; and

(b) the reasons the undertaking was accepted, including the matters of which the Treasurer was satisfied before accepting the undertaking.

(2) If the Treasurer varies or withdraws an undertaking in relation to a provision mentioned in subsection 101C(1), the Treasurer must, as soon as practicable after varying or withdrawing the undertaking, publish on a website maintained by the Department:

(a) the undertaking; and

(b) the reasons the undertaking was varied or withdrawn, including the matters of which the Treasurer was satisfied before varying or withdrawing the undertaking.

(3) The Treasurer may redact from each undertaking and reasons required to be published under subsections (1) or (2), any information that would be contrary to national security to publicly disclose.

(4) A failure to comply with subsections (1) or (2) in relation to an undertaking does not affect the enforceability of the undertaking under Part 6 of the Regulatory Powers Act, as that Part applies in relation to the provisions of this Act.

The question is that the Greens amendments on sheets 1138 and 1139 be agreed to.

I will now deal with the amendments circulated by Pauline Hanson's One Nation. The question is that the amendments on sheets 1131, 1165 and 1174, in respect of the Foreign Investment Reform (Protecting Australia's National Security) Bill 2020, circulated by Pauline Hanson's One Nation, be agreed to.

Pauline Hanson's One Nation's circulated amendments—

Sheet 1131

(1) Schedule 1, item 132, page 75 (after line 16), after Division 5, insert:

Division 6—Benefit to Australia test

79Z Treasurer must consider the benefit to Australia

Application of this section

(1) This section applies if:

(a) the Treasurer receives a notice from a person stating that an action under Part 2 is proposed to be taken; or

(b) the Treasurer is satisfied that an action under Part 2 has been taken.

Note: Actions taken under Part 2 include significant action, notifiable action, notifiable national security action and reviewable national security action.

Benefit to Australia test

(2) The Treasurer must consider whether the action under subsection (1) meets the benefit to Australia test.

(3) The benefit to Australia test is met if the action will, or is likely to, result in one or more of the following:

(a) the creation of new jobs in Australia or the retention of existing jobs in Australia that would or might otherwise be lost;

(b) the introduction of new technology into Australia;

(c) the introduction of new business expertise into Australia;

(d) increased export operations (within the meaning of the Export Control Act 2020) for Australian exporters.

(4) The Treasurer must not give a no objection notification under section 74 or 75 unless, in addition to the requirements in the relevant section, the Treasurer is also satisfied that the action meets the benefit to Australia test.

(5) If the Treasurer is not satisfied that the action meets the benefit to Australia test, the Treasurer must:

(a) make an order under section 67 or 79D to prohibit the proposed action; or

(b) make an order under section 69 or 79E for the disposal of the interest if the action has been taken.

Sheet 1165

(1) Schedule 3, item 8, page 165 (line 18), omit the heading to section 130V, substitute "Disclosure and publication of information in the Register".

(2) Schedule 3, item 8, page 166 (after line 5), after subsection 130V(2), insert:

(2A) The Registrar must cause to be published, on a website maintained by the Department, all information in the Register in relation to:

(a) interests in agricultural land; and

(b) registrable water interests.

(3) Schedule 3, Part 1, page 198 (after line 6), at the end of the Part, add:

Register of Foreign Ownership of Water or Agricultural Land Act 2015

13A Section 17

Repeal the section, substitute:

17 Register to be published on website

The Commissioner must publish on a website this register.

Sheet 1174

(1) Clause 2, page 2 (at the end of the table), add:

(2) Page 207 (after line 25), at the end of the Bill, add:

Schedule 4—Australian water entitlements

Foreign Acquisitions and Takeovers Act 1975

1 Section 4

Insert:

Australian water entitlement: see subsection 47A(4).

2 After section 47

Insert:

47A Meaning of notifiable action Australian water entitlement

(1) An action is a notifiable action if the conditions in this section are met.

First condition—kinds of action

(2) The first condition is that the action is to acquire an interest in an Australian water entitlement.

Second condition—action taken by a foreign person

(3) The second condition is that the action is or is to be taken by a foreign person.

Meaning of Australian water entitlement and related definitions

(4) For the purposes of this section, Australian water entitlement means any of the following:

(a) an irrigation right (within the meaning of the Water Act 2007) that relates to a water resource in Australia;

(b) a right (including an Australian water access entitlement) conferred by or under a law of a State or Territory to do either or both of the following:

  (i) to hold water from a water resource in Australia;

  (ii) to take water from a water resource in Australia.

(c) a contractual right to all or part of:

  (i) a right referred to in paragraph (a) or (b); or

  (ii) a water allocation; or

  (iii) a right of a kind specified in the regulations.

(5) However, an Australian water entitlement does not include:

(a) stock and domestic rights; or

(b) riparian rights; or

(c) water allocations; or

(d) a right of a kind specified in the regulations.

(6) In this section:

Australian water access entitlement means a perpetual or ongoing entitlement, by or under a law of a State or Territory, to exclusive access to a share of the water resources of an area in the State or Territory.

water allocation means the specific volume of water allocated to an Australian water access entitlement in a given period.

water resource means:

(a) surface water or ground water; or

(b) a watercourse, lake, wetland or aquifer (whether or not it currently has water in it).

An expression used in this definition that is also used in the Water Act 2007 has the same meaning as in that Act.