8916 revised

2019-2020

The Parliament of the

Commonwealth of Australia

THE SENATE

Guarantee of Lending to Small and Medium Enterprises (Coronavirus Economic Response Package) Bill 2020

(Amendment to be moved by Senator McKim, on behalf of the Australian Greens, in committee of the whole)

(1)     Clause 5, page 3 (after line 19), after subclause (3), insert:

          (3A)  The legislative rules must require that the terms of any loan subject to a guarantee granted to a financial institution under subsection (1) include a requirement that a SME entity to which a loan is to be made not make any employee of the SME redundant for the duration of any guarantee granted to the financial institution under that subsection.

[employees of SMEs]