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Thursday, 4 February 2010
Page: 529


Senator XENOPHON (4:03 PM) —by leave—I move amendments (1) and (2) on sheet 6041 together standing in my name and in the name of Senator Hanson-Young:

(1)   Schedule 2, page 16 (after line 11), after item 5, insert:

5A Paragraph 29(1)(a)

Omit “less”, substitute “plus

(aa) the total of the prescribed amounts relating to expenses incurred by the student in connection with the course; less”.

5B Subsection 29(2)

Omit “paragraph (1)(b)”, substitute “paragraphs (1)(aa) and (b)”.

(2)   Schedule 2, page 16 (after line 16), after item 6, insert:

6A Section 46

After “course money”, insert “and certain consequential costs”.

These amendments provide the minister with the power to make regulations to provide for consequential losses for students where there has been a collapse of a college. At the moment, only direct losses of fees paid can be compensated under the fund. This regulation would give the minister the power to make regulations to cover consequential losses—that is, those incidental losses with respect to a student being here when the college collapses that cannot be recovered. I want to make it absolutely clear that this does not require the minister to set the level of compensation, but it does give the minister the power to do so. I think it is important, in the context of strengthening confidence in the overseas student sector, that in certain cases the minister ought to have the power to make regulations to provide additional levels of compensation in respect of consequential losses.