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

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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

 

 

(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]