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ECONOMICS REFERENCES COMMITTEE—PROPOSED REFERENCE

Senator Xenophon, also on behalf of the Leader of the Australian Greens (Senator Milne), pursuant to notice of motion not objected to as a formal motion, moved business of the Senate notice of motion no. 1—That the following matter be referred to the Economics References Committee for inquiry and report by 27 November 2012:

Allegations of corruption, bribery and maladministration in respect of the conduct of Securency International Ltd and Note Printing Australia, subsidiaries of the Reserve Bank of Australia (RBA), with particular reference to:

 (a) the dates and level of knowledge of the RBA in respect of these allegations and their governance procedures for dealing with such allegations;

 (b) the actions taken by the RBA once it was made aware of these allegations and whether the actions were appropriate and timely in the circumstances;

 (c) the involvement of Austrade in the activities of Securency International Ltd and Note Printing Australia;

 (d) Austrade's knowledge of the allegations, including dates, and their actions thereto;

 (e) the role of the Australian Securities and Investments Commission (ASIC) in investigating these allegations, and whether ASIC acted in a timely manner in relation to these matters; and

 (f) any other related matters.


Question put.

The Senate divided—

AYES, 11

Senators—

Di Natale

Hanson-Young

Ludlam

Madigan

Milne

Rhiannon

Siewert (Teller)

Waters

Whish-Wilson

Wright

Xenophon

NOES, 35

Senators—

Abetz

Back

Bernardi

Bilyk

Bishop

Boyce

Brown

Bushby

Colbeck

Collins

Cormann

Crossin

Edwards

Farrell

Fawcett

Feeney

Fierravanti-Wells

Fifield

Furner

Gallacher

Kroger (Teller)

Marshall

McKenzie

McLucas

Moore

Pratt

Ronaldson

Ruston

Sinodinos

Smith

Stephens

Thistlethwaite

Thorp

Urquhart

Williams

Question negatived.