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FINANCE—BANKS

Senator Xenophon, pursuant to notice of motion not objected to as a formal motion, moved general business notice of motion no. 165—That the Senate—

 (a) notes that:

  (i) the Government has initiated a feasibility study into full account portability, due for completion by 30 June 2011, examining options that will make it easier for Australians to find a better banking deal, and

  (ii) the inquiry of the Economics References Committee into competition within the Australian banking sector has heard substantial evidence that Australians are frustrated by the difficulties of switching their transaction accounts to get a better banking deal;

 (b) recognises that simple steps making it easier for Australians to switch banks can be taken immediately, allowing consumers to save money through a better deal without delay; and

 (c) calls on the Government to support steps requiring banks to provide a simple, single-form, one-step process for customers to move their transaction accounts to the bank of their choice, including all debits and credits.

Senator Cormann, by leave, moved the following amendment:

 Omit paragraph (b).

Question—That the amendment be agreed to—put.

The Senate divided—

AYES, 40

Senators—

Adams

Barnett

Bilyk

Bishop

Boyce

Brown, C (Teller)

Bushby

Cameron

Cash

Colbeck

Cormann

Crossin

Eggleston

Farrell

Feeney

Ferguson

Fierravanti-Wells

Fifield

Forshaw

Furner

Hogg

Hurley

Hutchins

Kroger

Lundy

Marshall

McEwen

McLucas

Minchin

Moore

Nash

O'Brien

Parry

Polley

Pratt

Ryan

Stephens

Sterle

Williams

Wortley


NOES, 7

Senators—

Brown, Bob

Fielding

Hanson-Young

Ludlam

Milne

Siewert (Teller)

Xenophon

Question agreed to.

The Parliamentary Secretary for Disabilities and Carers (Senator McLucas), by leave, moved the following amendment:

 Paragraph (c), omit ", single-form, one-step".

Question—That the amendment be agreed to—put.

The Senate divided—

AYES,40


Senators—
AdamsCormannHoggNash
BarnettCrossinHurleyO'Brien
BilykEgglestonHutchinsParry
BishopFarrellKrogerPolley
BoyceFeeneyLundyPratt
Brown, C (Teller)FergusonMarshallRyan
BushbyFierravanti-WellsMcEwenStephens
CameronFifieldMcLucasSterle
CashForshawMinchinWilliams
ColbeckFurnerMooreWortley

NOES, 7


Senators—
Brown, BobHanson-YoungMilneXenophon
FieldingLudlamSiewert (Teller)

Question agreed to.

Main question, as amended, put and passed.