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5       Crimes Legislation Amendment (Proceeds of Crime and Other Measures) Bill 2015

Order of the day read for the further consideration of the bill in committee of the whole.

 

 

 

In the committee

Consideration resumed of the bill.

Question—That the bill stand as printed—divided, at the request of Senator McKim, in respect of Schedule 1, item 4, subsections 319(2), (3), (4) and (5).

Schedule 1, item 4, subsections 319(2), (3), (4) and (5) debated.

Question—That Schedule 1, item 4, subsections 319(2), (3), (4) and (5) stand as printed—put.

The committee divided—

AYES, 30

Senators—

Back

Gallacher

McKenzie

Ronaldson

Bullock

Gallagher

McLucas

Singh

Bushby

Ketter

Moore

Smith

Cameron

Lindgren

Muir

Sterle

Canavan

Lines

O’Neill

Urquhart (Teller)

Collins

Ludwig

O’Sullivan

Wang

Edwards

McAllister

Reynolds

Williams

Fawcett

McEwen

 

 

 

NOES, 11

Senators—

Di Natale

Madigan

Rice

Waters

Hanson-Young

McKim

Siewert (Teller)

Whish-Wilson

Ludlam

Rhiannon

Simms

 

 

 

Subsections agreed to.

Senator Whish-Wilson moved the following amendments together by leave:

Page 2, clause 2 (table item 2), omit the table item, substitute:

2.  Schedules 1 to 2

The day after this Act receives the Royal Assent .

2A.  Schedule 2A

The day after the end of the period of 12 months beginning on the day this Act receives the Royal Assent.

2B.  Schedules 3 to 4

The day after this Act receives the Royal Assent.

Page 12 (after line 22), after Schedule 2, insert:

Schedule 2A Amendments relating to the Corporations Act 2001

Corporations Act 2001

1  Section 9 (after paragraph (a) of the definition of financial records )

Insert:

                            (ab)  books, records or accounts needed to explain details of transactions that deal with assets; and

2  After section 190B

Insert:

190C   Internal accounting controls

     (1)   A director of a corporation must ensure that the corporation has a system of internal accounting controls.

     (2)   To comply with subsection (1), the system must ensure that:

                              (a)  transactions are executed in accordance with appropriate authorisation; and

                              (b)  transactions are recorded; and

                               (c)  assets of the corporation are regularly accounted for and reconciled; and

                              (d)  appropriate authorisations are in place in relation to dealing with assets of the corporation.

3  Paragraph 286(1)(a)

Repeal the paragraph, substitute:

                              (a)  correctly record and explain its financial position and performance; and

                            (ab)  correctly record and explain its transactions in sufficient detail so that the record accurately reflects the transactions; and

4  Application provisions

The amendments made by items 1 and 3 of this Schedule apply to transactions that occur on or after the commencement of this Schedule.

Debate ensued.

Question—That the amendments be agreed to—put.

The committee divided—

AYES, 12

Senators—

Di Natale

Madigan

Rice

Waters

Hanson-Young

McKim

Siewert (Teller)

Whish-Wilson

Ludlam

Rhiannon

Simms

Xenophon

 

 

NOES, 27

Senators—

Back

Collins

Ludwig

O’Sullivan

Bernardi

Edwards

Macdonald

Reynolds

Bilyk (Teller)

Fawcett

McAllister

Ronaldson

Bullock

Gallacher

McKenzie

Singh

Bushby

Gallagher

McLucas

Smith

Cameron

Ketter

Moore

Williams

Canavan

Lindgren

O’Neill

 

 

 

Question negatived.

Bill agreed to.

Bill to be reported without amendment.

 

 

 

The Acting Deputy President (Senator Edwards) resumed the chair and the Temporary Chair of Committees reported accordingly.

On the motion of the Minister for Northern Australia (Senator Canavan) the report from the committee was adopted and the bill read a third time.