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ECONOMICS REFERENCES COMMITTEE—PROPOSED REFERENCE

Senator Xenophon amended business of the Senate notice of motion no. 3 by leave and, pursuant to notice of motion not objected to as a formal motion, moved—That the following matter be referred to the Economics References Committee for inquiry and report by 30 June 2011:

The proposed acquisition of the Australian Stock Exchange (ASX) by Singapore Exchange Limited (SGX), with particular reference to:

 (a) whether such an acquisition would be in the national interest;

 (b) whether the 15 per cent ownership cap on the ASX is appropriate;

 (c) whether the revised proposed composition of the merged board and governance arrangements (as announced on 15 February 2011) are appropriate;

 (d) the Government of Singapore's interest in the SGX and its role in the proposed merged entity;

 (e) what impact such an acquisition might have on Australia's ability to attract investment; and

 (f) any other related matters.

Statements by leave: The Leader of The Nationals in the Senate (Senator Joyce) and Senator Xenophon, by leave, made statements relating to the motion.

Question put.

The Senate divided—

AYES,6


Senators—
Brown, BobLudlamSiewert (Teller)Xenophon
Hanson-YoungMilne

NOES, 33


Senators—
AbetzEgglestonLudwigPolley
AdamsFeeneyMarshallStephens
BackFergusonMcEwen (Teller)Sterle
BarnettFieldingMcGauranTroeth
BilykFifieldMcLucasWilliams
Brown, CarolFurnerMooreWortley
CameronHurleyNash
CashHutchinsO'Brien
CormannKrogerParry

Question negatived.