Sue Lines (President) Share this | Link to this | Hansard source

In accordance with the resolution agreed to earlier, the time allotted for consideration of this bill has expired. The question is that the bill be now read a second time.

Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Link to this | Hansard source

I table two supplementary explanatory memoranda relating to the government amendments to be moved to this bill.

Sue Lines (President) Share this | Link to this | Hansard source

The question is that government amendments (1) and (4) to (7) on sheet PC111 revised be agreed to.

Anne Ruston (SA, Liberal Party, Shadow Minister for Health and Aged Care) Share this | Link to this | Hansard source

Could we ask you to put the question for amendments (1) and (5) to (7) separately, as we wish to vote differently on (4).

Sue Lines (President) Share this | Link to this | Hansard source

I will advise the chamber. Senator Ruston has asked for that question to be split, so it will be split. Let's deal with (4) because that's the easiest one. The question is that government amendment (4) on sheet PC111 revised be agreed to.

Government's circulated amendment—

(4) Schedule 4, item 26, page 259 (after line 21), after subsection 296D(2), insert:

(2A) Subsection (2B) applies if sustainability standards made for the purposes of subsection (1) require the disclosure of:

(a) a scenario analysis (within the meaning given by sustainability standards made for the purposes of this paragraph); or

(b) information derived from a scenario analysis; or

(c) information about a scenario analysis.

(2B) For the purposes of subsection (1), a disclosure of a scenario analysis, information derived from a scenario analysis or information about a scenario analysis is taken not to satisfy that requirement unless the scenario analysis is carried out using at least both of the following scenarios:

(a) the increase in the global average temperature well exceeds the increase mentioned in subparagraph 3(a)(i) of the Climate Change Act 2022;

(b) the increase in the global average temperature is limited to the increase mentioned in subparagraph 3(a)(ii) of that Act.

Sue Lines (President) Share this | Link to this | Hansard source

The question now is that government amendments (1) and (5) to (7) on sheet PC111 revised be agreed to.

Government's circulated amendment s

(1) Schedule 2, page 109 (after line 11), after item 1, insert:

1A Subsection 821A(2)

Omit "paragraph (1)(aa), (a), (c), (d), (e), (f), (g) or (h)", substitute "a paragraph of subsection (1) other than paragraph (b)".

(5) Schedule 5, page 288 (after line 18), after item 6, insert:

6A Paragraphs 850B(1)(b) and (c)

Omit "Australian Stock Exchange Limited" (wherever occurring), substitute "ASX Limited".

6B Subsection 851A(1)

Omit "Australian Stock Exchange Limited", substitute "ASX Limited".

(6) Schedule 5, item 8, page 288 (lines 23 and 24), omit "Australian Securities Exchange Limited", substitute "ASX Limited".

(7) Schedule 5, item 9, page 289 (line 5), omit "Australian Securities Exchange Limited", substitute "ASX Limited".

Question agreed to.

The question now is that part 4 and item 127 of schedule 2 stand as printed.

Government's circulated amendments—

(2) Schedule 2, Part 4, page 122 (lines 1 to 14), to be opposed.

(3) Schedule 2, item 127, page 194 (lines 24 to 26), to be opposed.

Sue Lines (President) Share this | Link to this | Hansard source

I will now deal with the amendments circulated by the opposition. The question is that the opposition's amendments on sheets 2692 and 2693 be agreed to.

Opposition's circulated amendments—

SHEET 2692

(1) Schedule 4, item 25, page 253 (line 30) to page 254 (line 15), omit paragraphs 292A(3)(a) to (c), substitute:

(a) the consolidated revenue for the financial year of the entity and the entities it controls (if any) is $200 million or more;

(b) the value of the consolidated gross assets at the end of the financial year of the entity and the entities it controls (if any) is $500 million or more;

(c) the entity and the entities it controls (if any) have 250 or more employees at the end of the financial year.

(2) Schedule 4, item 145, page 280 (lines 16 to 23), omit the definitions of first transitional period and second transitional period in section 1707.

(3) Schedule 4, item 145, page 281 (after line 5), after the definition of start date in section 1707, insert:

transitional period: if the start date occurs on 1 January 2025 or 1 July 2025, the transitional period is the period that:

(a) starts on the start date; and

(b) ends on 30 June 2026.

Otherwise, there is no transitional period.

(4) Schedule 4, item 145, page 281 (line 25), omit "first".

(5) Schedule 4, item 145, page 281 (line 29) to page 282 (line 1), omit paragraphs 1707B(1)(b) and (c), substitute:

(b) the financial year commences on or after 1 July 2026.

(6) Schedule 4, item 145, page 282 (line 3), omit "first".

_____

SHEET 2693

(1) Schedule 4, item 3, page 247 (lines 17 and 18), omit the definition of financed emissions in section 9.

(2) Schedule 4, item 3, page 247 (lines 23 and 24), omit the definition of scope 3 greenhouse gas emissions in section 9.

(3) Schedule 4, item 26, page 259 (line 6), omit "or".

(4) Schedule 4, item 26, page 259 (lines 7 and 8), omit subparagraph 296D(1)(b)(iii).

(5) Schedule 4, item 145, page 284 (lines 13 and 14), omit subparagraph 1707D(3)(b)(i).

Sue Lines (President) Share this | Link to this | Hansard source

I will now deal with amendments circulated by the Australian Greens. The question is that the Australian Greens amendments on sheet 2571 be agreed to.

Australian Green s' circulated amendments—

(1) Schedule 4, item 145, page 283 (line 21), after "person", insert "for loss or damage suffered as a result of conduct that is misleading or deceptive, or likely to mislead or deceive,".

(2) Schedule 4, item 145, page 284 (line 5), omit "3 years", substitute "12 months".

Sue Lines (President) Share this | Link to this | Hansard source

I will now deal with the amendments circulated by Senator David Pocock. The question is that Senator David Pocock's amendments on sheet 2561 be agreed to.

Senator David Pocock's circulated amendments—

(1) Schedule 4, item 145, page 284 (line 17), omit "subparagraph);", substitute "subparagraph).".

(2) Schedule 4, item 145, page 284 (lines 18 to 20), omit subparagraph 1707D(3)(b)(iii).