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Wednesday, 8 February 2017
Page: 221

Second Reading

Consideration resumed of the motion:

That this bill be now read a second time.

to which the following amendment was moved:

That all words after "That" be omitted with a view to substituting the following words:

"whilst not declining to give the bill a second reading, the Australian Government is required to present on the first day of the Autumn sitting of the House legislation that contains a genuine and comprehensive framework for the introduction of equity crowdfunding to Australia, that:

(1) can be used effectively by both unlisted public companies and privately held firms;

(2) provides improved protections for retail investors, stronger than those currently proposed by the Government; and

(3) avoids placing a heavy regulatory or investor relations burden on startup enterprises and small businesses."