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Thursday, 26 June 2014
Page: 4051


Senator WONG (South AustraliaLeader of the Opposition in the Senate) (13:51): There are a couple more issues. I would appreciate the minister's response to the following, and if he could do this in simple terms that would be good. One of the points that has been made to the members of the opposition, including me, concerns the removal of the CAC Act-FMA Act or CAC agency-FMA agency distinction, which, for those students of the history of the financial framework of the Commonwealth was one of the key strengths asserted in the 1997 framework. In bringing them together, how have some of the risks that might be associated with that been managed in this legislation?