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35   Asset Recycling Fund Bill 2014

Asset Recycling Fund (Consequential Amendments) Bill 2014

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

 

 

 

In the committee

Consideration resumed of the Asset Recycling Fund Bill 2014, as amended, and of the Asset Recycling Fund (Consequential Amendments) Bill 2014.

Question—That the Asset Recycling Fund Bill 2014, as amended, and the Asset Recycling Fund (Consequential Amendments) Bill 2014 be agreed to—divided, at the request of Senator Carr, in respect of subclauses 13(2) and 34(4) to (6) of the Asset Recycling Fund Bill 2014.

Question—That subclauses 13(2) and 34(4) to (6) of the Asset Recycling Fund Bill 2014 stand as printed—put.

The committee divided—

AYES, 31

Senators—

Back

Day

Macdonald

Reynolds

Bernardi

Edwards

Mason

Ruston

Birmingham

Fawcett

McGrath

Ryan

Bushby (Teller)

Fierravanti-Wells

McKenzie

Scullion

Canavan

Fifield

Nash

Seselja

Cash

Heffernan

O’Sullivan

Sinodinos

Colbeck

Johnston

Parry

Williams

Cormann

Leyonhjelm

Payne

 

 

 

NOES, 36

Senators—

Bilyk

Gallacher

Marshall

Rice

Brown

Hanson-Young

McEwen (Teller)

Siewert

Bullock

Ketter

McLucas

Singh

Cameron

Lambie

Moore

Sterle

Carr

Lazarus

Muir

Urquhart

Collins

Lines

O’Neill

Wang

Dastyari

Ludlam

Peris

Waters

Di Natale

Ludwig

Polley

Whish-Wilson

Faulkner

Lundy

Rhiannon

Wright

 

 

Subclauses negatived.

Senator Cameron moved the following amendments in respect of the Asset Recycling Fund Bill 2014 together by leave:

Clause 18, page 17 (after line 23), at the end of subclause (1), add:

Note:         See also section 21A.



 

Page 19 (after line 24), at the end of Subdivision B, add:

21A  Cost benefit analyses to be made public

             If a direction is made under subsection 18(1) in relation to a grant for an infrastructure project, the Infrastructure Minister must:

                              (a)  table in each House of the Parliament, within 14 sitting days of that House after the direction is made, a copy of the evaluation by Infrastructure Australia provided to the Minister under section 19; and

                              (b)  within 14 days of the direction being made, ensure that the following information about the project is made available on the Infrastructure Department’s website:

                                                  (i)   a description of the project;

                                                 (ii)   when the project is to start and is likely to be completed.

Clause 24, page 20 (after line 26), at the end of subclause (1), add:

Note:         See also section 28A.

Page 22 (after line 28), at the end of Subdivision C, add:

28A  Cost benefit analyses to be made public

             If a direction is made under subsection 24(1) for the purposes of making infrastructure payments for an infrastructure project, the Infrastructure Minister must:

                              (a)  table in each House of the Parliament, within 14 sitting days of that House after the direction is made, a copy of the evaluation by Infrastructure Australia provided to the Minister under section 25; and

                              (b)  within 14 days of the direction being made, ensure that the following information about the project is made available on the Infrastructure Department’s website:

                                                  (i)   a description of the project;

                                                 (ii)   when the project is to start and is likely to be completed.

Debate ensued.

Question—That the amendments be agreed to—put.

The committee divided—

AYES, 36

Senators—

Bilyk

Ketter

McEwen

Rice

Brown

Lambie

McLucas

Siewert

Bullock

Lazarus

Milne

Singh

Cameron

Leyonhjelm

Moore

Sterle

Carr

Lines

Muir

Urquhart (Teller)

Dastyari

Ludlam

O’Neill

Wang

Di Natale

Ludwig

Peris

Waters

Faulkner

Lundy

Polley

Whish-Wilson

Gallacher

Marshall

Rhiannon

Wright

 

 

 



 

NOES, 29

Senators—

Back

Day

Mason

Ruston

Bernardi

Edwards

McGrath

Ryan

Birmingham

Fawcett (Teller)

McKenzie

Seselja

Bushby

Fierravanti-Wells

Nash

Sinodinos

Canavan

Fifield

O’Sullivan

Williams

Cash

Heffernan

Parry

 

Colbeck

Johnston

Payne

 

Cormann

Macdonald

Reynolds

 

 

 

Question agreed to.

Senator Cameron moved the following amendment in respect of the Asset Recycling Fund Bill 2014:

Clause 18, page 18 (lines 5 and 6), omit “Minister who recommended the specification of the grant (see section 19)”, substitute “Infrastructure Minister”.

Debate ensued.

Question—That the amendment be agreed to—put.

The committee divided—

AYES, 36

Senators—

Bilyk

Ketter

McEwen

Rice

Brown

Lambie

McLucas

Siewert

Bullock

Lazarus

Milne

Singh

Cameron

Leyonhjelm

Moore

Sterle

Carr

Lines

Muir

Urquhart (Teller)

Dastyari

Ludlam

O’Neill

Wang

Di Natale

Ludwig

Peris

Waters

Faulkner

Lundy

Polley

Whish-Wilson

Gallacher

Marshall

Rhiannon

Wright

 

 

NOES, 29

Senators—

Back

Day

Mason

Ruston

Bernardi

Edwards

McGrath

Ryan

Birmingham

Fawcett (Teller)

McKenzie

Seselja

Bushby

Fierravanti-Wells

Nash

Sinodinos

Canavan

Fifield

O’Sullivan

Williams

Cash

Heffernan

Parry

 

Colbeck

Johnston

Payne

 

Cormann

Macdonald

Reynolds

 

 

 

Question agreed to.

Senator Cameron moved the following amendments in respect of the Asset Recycling Fund Bill 2014 together by leave:

No. 1—Clause 19, page 18 (lines 7 to 16), omit the clause, substitute:

19  Recommendations about grants payments

     (1)   The Finance Minister must not make a direction under subsection 18(1) in relation to a grant for an infrastructure project unless the Infrastructure Minister has recommended that a direction be made.



 

     (2)   The Infrastructure Minister must not make a recommendation under subsection (1) in relation to a grant for an infrastructure project if:

                              (a)  capital expenditure on the project is $100 million or more; and

                              (b)  Infrastructure Australia has not done both of the following:

                                                  (i)   given the Minister an evaluation of the project (see subsection (3));

                                                 (ii)   advised that there are likely to be productivity gains from the project.

     (3)   Infrastructure Australia’s evaluation of an infrastructure project mentioned in subsection (2) must:

                              (a)  contain a cost benefit analysis of the project, including an estimate of the productivity gains from the project; and

                              (b)  set out any other matter that Infrastructure Australia considers relevant to the project.

     (4)   The Infrastructure Minister must not make a recommendation under subsection (1) in relation to a grant for an infrastructure project if:

                              (a)  the grant is for expenditure incurred under the National Partnership Agreement on Asset Recycling; and

                              (b)  the grant does not relate to a transaction that the Treasurer has approved by legislative instrument.

     (5)   An approval under paragraph (4)(b) must specify the State-owned assets, or the parts of State-owned assets, to the sale of which the transaction relates.

No. 2—Clause 25, page 21 (lines 4 to 7), omit the clause, substitute:

25  Recommendations about payments

     (1)   The Finance Minister must not make a direction under subsection 24(1) for the purposes of making infrastructure payments for an infrastructure project unless the Infrastructure Minister has recommended that a direction be made.

     (2)   The Infrastructure Minister must not make a recommendation under subsection (1) in relation to infrastructure payments for an infrastructure project if:

                              (a)  capital expenditure on the project is $100 million or more; and

                              (b)  Infrastructure Australia has not done both of the following:

                                                  (i)   given the Minister an evaluation of the project (see subsection (3)); and

                                                 (ii)   advised that there are likely to be productivity gains from the project.

     (3)   Infrastructure Australia’s evaluation of an infrastructure project mentioned in subsection (2) must:

                              (a)  contain a cost benefit analysis of the project, including an estimate of the productivity gains from the project; and

                              (b)  set out any other matter that Infrastructure Australia considers relevant to the project.



 

     (4)   The Infrastructure Minister must not make a recommendation under subsection (1) in relation to infrastructure payments for an infrastructure project if:

                              (a)  the payments are for expenditure incurred under the National Partnership Agreement on Asset Recycling; and

                              (b)  the payments do not relate to a transaction that the Treasurer has approved by legislative instrument.

     (5)   An approval under paragraph (4)(b) must specify the State-owned assets, or the parts of State-owned assets, to the sale of which the transaction relates.

Senator Leyonhjelm moved the following amendments to Senator Cameron’s proposed amendments together by leave:

Amendment no. 1, subclauses 19(4) and (5), omit the subclauses.

Amendment no. 2, subclauses 25(4) and (5), omit the subclauses.

Debate ensued.

Question—That Senator Leyonhjelm’s amendments to Senator Cameron’s proposed amendments be agreed to—put and negatived.

Question—That the amendments moved by Senator Cameron be agreed to—put and passed.

On the motion of Senator Ludlam the following amendment in respect of the Asset Recycling Fund Bill 2014 was debated and agreed to:

Page 23 (after line 10) , after Division 4 , insert:

Division 4A—State-owned essential services

29A  State-owned essential services

             A grant or payment mentioned in this Part must not relate to a transaction that relates to the sale of State-owned assets that provide essential services.

Senator Ludlam moved the following amendment in respect of the Asset Recycling Fund Bill 2014:

Page 24 (after line 12) , at the end of Part 2 , add:

Division 6—Toll roads

30A  Toll roads

             Financial assistance granted as mentioned in this Part must not be expended on toll roads.

Debate ensued.

Question—That the amendment be agreed to—put.

The committee divided—

AYES, 10

Senators—

Day

Milne

Siewert (Teller)

Whish-Wilson

Di Natale

Rhiannon

Waters

Wright

Ludlam

Rice

 

 

 

 

 



 

NOES, 43

Senators—

Back

Edwards

Lundy

Polley

Bernardi

Fierravanti-Wells

Macdonald

Reynolds

Bilyk

Fifield

Marshall

Ruston

Birmingham

Gallacher

McGrath

Ryan

Bullock

Heffernan

McKenzie

Seselja

Cameron

Ketter

McLucas

Sinodinos

Canavan

Lambie

Moore

Sterle

Carr

Lazarus

Muir

Urquhart (Teller)

Cash

Leyonhjelm

Nash

Wang

Colbeck

Lines

O’Sullivan

Williams

Cormann

Ludwig

Peris

 

 

 

Question negatived.

On the motion of Senator Ludlam the following amendments in respect of the Asset Recycling Fund Bill 2014, taken together by leave, were debated and agreed to:

Title, page 1 (line 1), before “ establish the Asset Recycling Fund ”, insert “ encourage privatisation and ”.

Clause 1, page 1 (line 7), omit “ Asset Recycling Fund ”, substitute “ Encouraging Privatisation (Asset Recycling Fund) ”.

On the motion of Senator Ludlam the following amendments in respect of the Asset Recycling Fund (Consequential Amendments) Bill 2014, taken together by leave, were agreed to:

Clause 1 , page 1 (line 6) , omit “ Asset Recycling Fund ”, substitute “ Encouraging Privatisation (Asset Recycling Fund) ”.

Entire Bill : Omit “ Asset Recycling Fund Act 2014 ” (wherever occurring), substitute “ Encouraging Privatisation (Asset Recycling Fund) Act 2014 ”.

Bills, as amended, agreed to.

Bills to be reported with amendments and amendments to the titles.

 

 

 

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

On the motion of the Minister for Finance (Senator Cormann) the report from the committee was adopted and the bills read a third time.