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Wednesday, 6 December 2017
Page: 9831

Senator CORMANN (Western AustraliaMinister for Finance and Deputy Leader of the Government in the Senate) (11:56): My answer to Senator Patrick actually went directly to this point. There is a transition team currently underway, led by Dr Malcolm Edey, which is overseeing—among other things—the consultation in relation to the AFCA terms of reference, governance and funding arrangements, a consultation paper, which has been released for stakeholder feedback. It obviously wouldn't be appropriate for the government to finalise terms of reference in relation to a body that hasn't yet been set up by legislation. We're not presuming the outcome for the parliament; the first step is to get the approval of the parliament for the establishment of this one-stop-shop complaints mechanism, which we are strongly recommending to the parliament. We have set out the process that we would follow from here to finalise the terms of reference and we've indicated some of the guiding principles that the Minister for Revenue and Financial Services will work from in order to finalise those terms of reference.