Senator IAN CAMPBELL (Parliamentary Secretary to the Treasurer) —I give notice that, on the next day of sitting, I shall move:

That the provisions of paragraphs (5) to (7) of standing order 111 not apply to the Corporations Law Amendment (ASX) Bill 1997, allowing it to be considered during this period of sittings.

Senator IAN CAMPBELL —I also table a statement of reasons justifying the need for this bill to be considered during the sittings and seek leave to have the statement incorporated in Hansard .

Leave granted.

The statement read as follows—

Purpose of the Bill

The Corporations Law Amendment (ASX) Bill 1997 facilitates the decision of members of the Australian Stock Exchange (ASX) to change its corporate form from that of a mutual organisation to a public company. The Bill seeks to ensure that on the change to the new corporate form essential Government policies underlying the regulation of stock markets are maintained and enhanced in the legislative framework within which the ASX will operate.

Reasons for urgency

The Bill needs to be passed and in operation so as to enable the ASX to commence business under its new corporate form.

Circulated with the authority of the Treasurer