Senator CONROY (4:40 PM) —I guess I could best describe it by saying that, up until now, the parliament has set a standard for the capacity to access funds. I have a corporate law book in my hand, and it talks about—

Senator Ian Campbell interjecting—

Senator CONROY —That is right. That is the point: this is now setting a different standard, in one stream, because you now do not have to provide the prospectus to people you used to have to provide it to. So the parliament now, if it supports this particular aspect, is actually supporting a lowering of a standard of information to the market. I am concerned that this goes to the integrity of the whole market. I am not just talking about an individual investor's potential losses or potential problem. There is a lessening of integrity in the whole market. I guess we are going to agree to disagree, and we will have to wait until the first legal case in this area before you will possibly recognise that we have lowered the standard, that some people will lose money, and that the market's integrity is being lowered by this proposition.

The TEMPORARY CHAIRMAN (Senator Knowles) —The question is that the amendments (R8), (9) and (10) on sheet 1592 revised be agreed to.

Question resolved in the affirmative.

The TEMPORARY CHAIRMAN —We will now go back to postponed opposition amendment No. 27. The question is that the amendment be agreed to.

Question resolved in the affirmative.