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Wednesday, 18 October 2017
Page: 7818

Senator RICE (Victoria) (10:19): Minister, in terms of the ability for the ministers to have discretion: in this case you were wanting to ask me a question about why we are happy with the CEFC. My understanding is that the CEFC, in fact, has much stricter requirements on the types of investment included in the legislation for the CEFC. However, here we have the ability for the RIC to undertake entirely new classes of loans without parliamentary oversight. So I'd ask the question: why is it seen to be appropriate for those entirely new classes of loans to be able to be at the discretion of ministers in this instance, whereas under the CEFC legislation it was actually included? There were quite strict parameters on what types of investment it could make, and these were included in the CEFC legislation.