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Trade and Foreign Investment (Protecting the Public Interest) Bill 2014

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2013-2014

 

 

 

 

THE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA

 

 

 

 

 

 

SENATE

 

 

 

 

 

 

 

Trade and Foreign Investment (Protecting the Public Interest) Bill 2014

 

 

 

 

 

 

 

EXPLANATORY MEMORANDUM

 

 

 

 

 

 

 

 

 

 

(Circulated by authority of Senator Whish-Wilson)



 

Trade and Foreign Investment (Protecting the Public Interest) Bill 2014

Background

The purpose of this Bill is to prevent the Commonwealth from entering into an agreement with one or one more foreign countries that includes investor-state dispute settlement provisions.

 

Notes on clauses

Section 2

Section 2 outlines the Bill commencement. The Bill will commence on the day after this Act receives the Royal Assent.

Section 3

Section 3 sets out that the intention of the Bill is to prevent the Commonwealth from entering into agreements with foreign countries that include investor-state dispute settlement clauses. These clauses provide for corporations to sue foreign governments under specific circumstances.   

 

 

 

 

 

STATEMENT OF COMPATIBILITY WITH HUMAN RIGHTS

 

Prepared in accordance with Part 3 of the Human Rights (Parliamentary Scrutiny) Act 2011

 

Trade and Foreign Investment (Protecting the Public Interest) Bill 2014

 

This Bill is compatible with the human rights and freedoms recognised or declared in the international instruments listed in section 3 of the Human Rights (Parliamentary Scrutiny) Act 2011 .

 

Overview:

The purpose of this Bill is to prevent the Commonwealth from entering into an agreement with one or one more foreign countries that includes investor-state dispute settlement provisions.

Human Rights Implications:

This Bill does not engage any of the applicable rights or freedoms.

 

Conclusion:

This Bill is compatible with human rights as it does not raise any human rights issues.