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Thursday, 22 March 2012
Page: 4054


Mr SHORTEN (MaribyrnongMinister for Financial Services and Superannuation and Minister for Employment and Workplace Relations) (17:38): I thank the shadow Treasurer for his remarks. The reason the government is not supporting the opposition amendments in their current form is that we believe they would weaken the reforms we are trying to introduce. I will state again that we see the 'drop dead' date for implementation of FoFA being 1 July 2013 but we do believe that putting in the date of 1 July 2012 encourages early movers to take advantage of these reforms.

The SPEAKER: The question is that the amendments moved by the honourable member for North Sydney be agreed to.