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Wednesday, 25 November 2015
Page: 8974


Senator WHISH-WILSON (Tasmania) (15:36): I move:

That the following matter be referred to the Economics References Committee for inquiry and report by 27 July 2016:

The inconsistencies and inadequacies of current criminal, civil and administrative penalties for corporate and financial misconduct or white-collar crime, with particular reference to:

(a) evidentiary standards across various acts and instruments;

(b) the use and duration of custodial sentences;

(c) the use and duration of banning orders;

(d) the value of fine and other monetary penalties, particularly in proportion to the amount of wrongful gains;

(e) the availability and use of mechanisms to recover wrongful gains;

(f) penalties used in other countries, particularly members of the Organisation for Economic Co-operation and Development [OECD]; and

(g) any other relevant matters.

Question agreed to.