Senator KEMP (Assistant Treasurer)(2.15 p.m.) —It squares with the legislation currently before us because the legislation repeats the old law without change. I recognise your interest in preference share issues, Senator Harradine. You are quite right when you say that this issue was well canvassed before the Senate. However, I am advised that the law we are debating before this chamber simply restates section 80B part 8 of the old law without change.

If you have another bit of paper, which I understand you do, which relates to future policy directions, I would have thought that was a debate for another day. I do not deny your interest in this matter. In fact, I think you created a lot of interest in this matter. The point I am putting to you is that what we have before us is no change in the existing law. You are interested—and, as I have said, I do not deny your right to be interested—in a discussion paper, but that is not the substance of debate before this chamber.