Mr McGAURAN (Arts and the Centenary of Federation) (11:22 AM) —I wish to thank all members for their very balanced and constructive contribution to this debate. It has been very helpful in further highlighting the issues surrounding disclosure for year 2000 problems. The shadow minister for industry, the member for Fraser, raised a couple of issues, in an otherwise impressive contribution, which I would like to clarify.

The first is that he did express some concern regarding the exactness of the definition of the year 2000 as would require disclosure—thinking, if my memory serves me correctly, that the leap year would not be covered. I would draw his attention to the explanatory memorandum, which does define the year 2000 fairly broadly and does cover, therefore, dates either side of 1 January 2000. In other words, the bill is drafted so as to cover the data processing issue, rather than just being specified to one day alone.

The second matter that the member for Fraser, and indeed the member for Bonython, pursued was the issue of a foreshadowed Senate amendment so as to require in further detail the government's own departmental and agencies' preparedness for the year 2000. He did say, I understand, that, as an alternative, the opposition would accept a letter from the government detailing its intention to report to parliament on this very issue of the government's own preparedness, and he expressed disappointment that the letter had not yet been forthcoming.

Senator Alston has advised me, on learning of the member for Fraser's requirements, that the government is working on the issue of assurances as we speak. He has asked me to seek, in return, an assurance from the member for Fraser that Labor will not proceed with its amendment in the Senate if those assurances, which Labor has proposed, are given by the government. So that is a matter which will be taken up outside of this chamber.

The government naturally takes these points made by the member for Fraser and his colleagues very seriously because this is an issue in which the government looks to improve its performance; we always want improved disclosure. The legislation is timely in comparison to any other country in the world. But for those who think that we are coming to the party a little later than the Americans, who introduced their legislation only last October, we have always felt that if you set requirements as to disclosure too early then you could just end up with misleading information because up until now everybody has been struggling to find the information upon which sensible and accurate disclosure can be made. We have followed the principle of progressive disclosure.

Thank you, again, to all members. I commend the bill to the chamber.

Question resolved in the affirmative.

Bill read a second time.

Madam DEPUTY SPEAKER (Mrs Gash) —If no member wishes to consider the bill in detail, I will put the report question forthwith. The question is that this bill be reported to the House without amendment.

Question resolved in the affirmative.