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COMPANIES AND SECURITIES LEGISLATION (MISCELLANEOUS AMENDMENTS) BILL 1985

Order of the Day read for the adjourned debate on the motion of the Minister for Community Services (Senator Grimes)-That this Bill be now read a second time.

Senator Durack moved an amendment, viz: At end of motion, add "", but the Senate-

(a) expresses its deep concern at the burden of costs and diversion of resources caused by excessive regulation that constricts Australian business and blunts its competitive edge;

(b) expresses its deep concern that the apparent quest for certainty in legislation has led to unnecessary complexity and technicality; and

(c) records its view that the entire legislative package which is the subject of the amendments proposed by this Bill needs to be examined as a whole with the objectives of:

(i) lifting from business the burden of unnecessary, confusing and incompetently drafted laws and excessive regulation,

(ii) limiting legislation to essential matters,

(iii) achieving brevity, simplicity and intelligibility with the purpose of making laws as comprehensible as possible to the ordinary intelligent lay reader,

(iv) widening the process of outside consultation, and

(v) streamlining the processes of law making''.

Debate ensued.

Question-that the words proposed to be added be added-put.

The Senate divided

AYES, 29

Senators- Archer Baume, Michael Baume, Peter Bjelke-Petersen Boswell Carrick, Sir John Collard Crichton-Browne Durack Guilfoyle, Dame Margaret Hamer Hill Jessop Kilgariff (Teller) Knowles MacGibbon Messner Missen Parer Puplick Rae, Peter Reid Sheil Short Teague Townley Vanstone Walters Watson

NOES, 34

Senators- Aulich Black Bolkus Childs Chipp Coates Colston Cook Cooney Crowley Devlin Elstob Evans Foreman Gietzelt Giles Grimes Haines Jones McIntosh (Teller) McKiernan Macklin Maguire Morris Ray, Robert Reynolds Richardson Ryan Sanders Sibraa Tate Vigor Walsh Zakharov

Amendment negatived accordingly.

Question-That this Bill be now read a second time-put and passed.

Bill read a second time.

The Senate, according to Order, resolved itself into Committee for the consideration of the Bill.

In the Committee

Bill, by leave, taken as a whole and agreed to.

Bill to be reported without amendment.

The Deputy-President resumed the Chair; and the Temporary Chairman of Committees (Senator Townley) reported accordingly.

On the motion of the Minister for Resources and Energy (Senator Evans) the Report from the Committee was adopted, and the Bill read a third time.