Dean Smith (WA, Liberal Party) Share this | Link to this | Hansard source

I present the second report of 2021 of the Selection of Bills Committee and I seek leave to have the report incorporated into Hansard.

Leave granted.

The report read as follows—

SELECTION OF BILLS COMMITTEE

REPORT NO. 2 OF 2021

18 February 2021

MEMBERS OF THE COMMITTEE

Senator Dean Smith (Government Whip, Chair)

Senator Perin Davey (The Nationals Whip)

Senator Stirling Griff (Centre Alliance Whip)

Senator Pauline Hanson (Pauline Hanson's One Nation Whip)

Senator Rachel Siewert (Australian Greens Whip)

Senator Anne Urquhart (Opposition Whip)

Senator Raff Ciccone

Senator Katy Gallagher

Senator Jacqui Lambie

Senator the Hon James McGrath

Senator Rex Patrick

Senator the Hon Anne Ruston

Secretary: Tim Bryant ph. 6277 3020

SELECTION OF BILLS COMMITTEE

REPORT NO. 2 OF 2021

1. The committee met in private session on Wednesday, 17 February 2021 at 7.35 pm.

2. The committee recommends that—

(a) the Environment Protection and Biodiversity Conservation Amendment (Regional Forest Agreements) Bill 2020 be referred immediately to the Environment and Communications Legislation Committee for inquiry and report by 11 May 2021 (see appendix 1 for a statement of reasons for referral)

(b) the provisions of the Treasury Laws Amendment (Your Future, Your Super) Bill 2021 be referred immediately to the Economics Legislation Committee for inquiry and report by 22 April 2021.

3. The committee deferred consideration of the following bills to its next meeting:

4. The committee considered the following bill but was unable to reach agreement:

(Dean Smith)

Chair

18 February 2021

Appendix 1

SELECTION OF BILLS COMMITTEE

Proposal to refer a bill to a committee

Name of bill:

Environment Protection and Biodiversity Conservation Amendment (Regional Forest Agreements) Bill 2020

Reasons for referral/principal issues for consideration:

Possible submissions or evidence from:

Committee to which bill is to be referred:

Environment Communications Legislation Committee

Possible hearing date(s):

March, April, 2021

Possible reporting date:

11 May 2021

(signed)

Bridget McKenzie

SELECTION OF BILLS COMMITTEE

Proposal to refer a bill to a committee

Name of bill:

Environment Protection and Biodiversity Conservation Amendment (Regional Forest Agreements) Bill 2020

Reasons for referral/principal issues for consideration:

Examine nature of the bill and its implication - employment and environmental - with regard to the context of the bill, including but not limited to the Samuel review.

Possible submissions or evidence from:

Industry, unions and environmental stakeholders

Committee to which bill is to be referred:

Senate Environment and Communications Legislation Committee

Possible hearing date(s):

To be determined by the committee

Possible reporting date:

May 2021

(signed)

Senator Anne Urquhart

I move:

That the report be adopted.

Jonathon Duniam (Tasmania, Liberal Party, Assistant Minister for Forestry and Fisheries) Share this | Link to this | Hansard source

I move:

At the end of the motion, add "and, in respect of the Treasury Laws Amendment (2021 Measures No. 1) Bill 2021, the provisions of the bill be referred to the Economics Legislation Committee for inquiry and report by 12 March 2021".

Nick McKim (Tasmania, Australian Greens) Share this | Link to this | Hansard source

I would like to move an amendment to the government's amendment, which I understand has been circulated. I move:

At the end of the proposed amendment, omit "12 March 2021", substitute "7 May 2021".

It's important that colleagues realise that the Treasury Laws Amendment (2021 Measures No. 1) Bill 2021 was introduced into the House only yesterday. Among other things, it will reduce the obligation on a company to publicly report information that might affect a company's position, whether that be a good position or a bad position. On the face of it, the watering down of continuous disclosure requirements will increase the opportunity for insider trading. It's incumbent upon the Senate to properly examine what the government is proposing here and whom it will impact. There are millions of Australians who depend on the proper functioning of the stock market so that their superannuation accounts aren't eroded by people trading on inside information.

This amendment would change the reporting date from 12 March to 7 May. The Australian Greens, to be frank, would prefer an even longer inquiry time and believe that this bill warrants an extremely thorough examination by the committee, but we are putting forward 7 May as a sensible compromise here. I urge senators, and particularly One Nation senators, to give the Senate enough time to understand exactly what is being proposed, who it is going to affect and whether or not, in fact, the watering down of continuous disclosure requirements will increase the opportunity for insider trading.

Scott Ryan (President) Share this | Link to this | Hansard source

The question is the amendment moved by Senator McKim to the amendment moved by Senator Duniam be agreed to.