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25       Treasury Laws Amendment (2021 Measures No. 2) Bill 2021

Order of the day read for the adjourned debate on the motion of the Minister for Government Services (Senator Reynolds)—That this bill be now read a second time— and on the amendment moved by Senator McAllister :

At the end of the motion, add “, but the Senate notes that:

(a)              despite promising to streamline reporting in the charity sector, this Government is instead pursuing changes to charity law that could stop charities and churches from speaking up for core principles and articles of faith in civil society, limiting their freedom of political communication and participation in our democratic system; and

(b)              while the Government boasts about its multinational tax measures, it has failed to curtail the use of tax havens and tax avoidance schemes by multinational corporations”.

Debate resumed.

Question—That the amendment be agreed to—put and negatived. All Opposition and Australian Greens senators, by leave, recorded their votes for the ayes.

Main question put and passed.

Bill read a second time.

The Senate resolved itself into committee for the consideration of the bill.

 

 

 

In the committee

Bill taken as a whole by leave.

The Attorney-General (Senator Cash), at the request of the Leader of Pauline Hanson’s One Nation (Senator Hanson), moved the following amendments on sheet 1442 together by leave:

(1)—Clause 2, page 2 (table item 1), omit the table item, substitute:

1.  Sections 1 to 3 and anything in this Act not elsewhere covered by this table

The day this Act receives the Royal Assent.

 

2.  Schedules 1 and 2

The first 1 January, 1 April, 1 July or 1 October to occur after the day this Act receives the Royal Assent.

 

3.  Schedule 3

The day after this Act receives the Royal Assent.

 

(2)—Page 12 (after line 14), at the end of the bill, add:

Schedule 3 Disclosure of information

Corporations Act 2001

1  At the end of Part 2M.3

Add:

Division 9 Disclosure by listed entities of information about jobkeeper payments

323DB   Requirement to notify market operator about jobkeeper payments

   (1)  A listed entity must give each relevant market operator a notice, for release to the market, in accordance with this section for a financial year if the listed entity, or a subsidiary of the listed entity, received a jobkeeper payment (within the meaning of the Coronavirus Economic Response Package (Payments and Benefits) Rules 2020 ) in the financial year.

   (2)  The notice must set out the following information for the financial year:

                       (a)  the listed entity’s name and ABN;

                      (b)  the number of individuals for whom the listed entity or a subsidiary of the listed entity received a jobkeeper payment for a jobkeeper fortnight (within the meaning of the Coronavirus Economic Response Package (Payments and Benefits) Rules 2020 ) that ended in the financial year;

                       (c)  the sum of all jobkeeper payments the listed entity and each subsidiary of the listed entity received in a jobkeeper fortnight that ended in the financial year;

                      (d)  whether or not the listed entity or a subsidiary of the listed entity has made one or more voluntary payments (whether or not in the financial year) to the Commonwealth by way of a repayment of jobkeeper payments received by the listed entity or a subsidiary of the listed entity in the financial year;

                       (e)  if the listed entity or a subsidiary of the listed entity has made such a voluntary payment or payments—the sum of those payments.

   (3)  The notice must be given:

                       (a)  if the listed entity has lodged a report for the financial year under Division 1 with ASIC on or before the day on which Schedule 3 of the Treasury Laws Amendment (2021 Measures No. 2) Act 2021 commenced—within 60 days after that day; or

                      (b)  otherwise—within 60 days after the listed entity lodges a report for the financial year under Division 1 with ASIC.

   (4)  If the listed entity becomes aware that a notice given in accordance with this section for a financial year has become out of date or is otherwise not correct, the listed entity must give each relevant market operator, for release to the market, an updated notice within 60 days of becoming so aware.

   (5)  An offence based on subsection (1) or (4) is an offence of strict liability.

323DC   ASIC must publish report

   (1)  ASIC must publish on its website a consolidated report of all notices given to relevant market regulators under section 323DB and released to the market.

   (2)  ASIC must publish the consolidated report as soon as practicable after a notice or notices under that section are released to the market.

   (3)  ASIC must ensure the consolidated report is regularly updated.

2  In the appropriate position in Schedule 3

Insert:

Subsection 323DB(1)

60 penalty units

Subsection 323DB(4)

60 penalty units

Debate ensued.

 

 

 

At 7.20 pm : The committee reported progress.