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Wednesday, 31 August 2016
Page: 262


Senator LAMBIE (Tasmania) (16:02): I seek leave to make a one-minute statement regarding the notice of motion calling on the establishment of a royal commission into banks.

Honourable senators interjecting

The PRESIDENT: Senator Lambie, because there was a bit of interjection, could you repeat what you are seeking leave to do?

Senator LAMBIE: Mr President, I seek leave to make a short statement regarding the notice of motion calling on the establishment of a royal commission into the banks.

The PRESIDENT: Leave has been granted for one minute, Senator Lambie.

Senator LAMBIE: I stand to support Senator Wong's motion. But when the major parties are receiving political donations to the tune of a combined $500,000 a year from the big four banks, it raises serious concerns about the level of political influence. The terms of reference for a royal commission into the banking industry must include political donations via the banks.

Government senators interjecting

The PRESIDENT: Order on my right!

Senator LAMBIE: I have received from a reliable source a list of media reports and ASIC notifications of action taken against Australia's major banks for allegedly illegal and unethical practices or practices that are well below community standards. I seek leave to table this comprehensive list for the benefit of the Senate and the Australian people.

The PRESIDENT: The indication is that no-one has seen it, Senator Lambie, and leave has been denied.