The DEPUTY PRESIDENT —The President has received a letter from Senator Conroy proposing that a definite matter of public importance be submitted to the Senate for discussion, namely:

(a) the series of high profile corporate collapses in Australia;

(b) the awarding of often extravagant and unjustified remuneration packages and other perks to corporate executives;

(c) the failure of many companies to fully comply with the requirement to disclose details of executive remuneration;

d) the restatement of various company accounts by ASIC;

(e) public questions about the independence of brokers;

(f) funding shortages for the Australian Securities and Investments Commission, the corporate regulator; and

(g) the recommendations of the Ministerial Council of Corporations and Professor Ramsay on auditor independence,

while punishing struggling Australian families who do the right thing in regard to their family benefit payments.

I call upon those senators who approve of the proposed discussion to rise in their places.

More than the number of senators required by the standing orders having risen in their places—

The DEPUTY PRESIDENT —I understand that informal arrangements have been made to allocate specific times to each of the speakers in today's debate. With the concurrence of the Senate, I shall ask the clerks to set the clock accordingly.