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Bills of the current Parliament

Although every effort is made to ensure the accuracy of bills homepages, the authoritative sources for verifying the progress of bills are the House of Representatives Votes and Proceedings and the Journals of the Senate.

Treasury Laws Amendment (Prohibiting Energy Market Misconduct) Bill 2019


Type
Government
Originating house
House of Representatives
Status
Act
Portfolio
Treasury

Summary

Amends the Competition and Consumer Act 2010 to: prohibit certain conduct in electricity retail, contract and wholesale markets, broadly relating to retail pricing, financial contract market liquidity and conduct in wholesale spot markets; provide powers and remedies which the ACCC may use if it reasonably believes a corporation has engaged, or is engaging, in prohibited conduct in the electricity sector; enable the Treasurer, following the receipt of a prohibited conduct recommendation from the ACCC, to issue a written order to a corporation or another body to make offers to enter into electricity financial contracts with third party entities; enable the Treasurer, following the receipt of a prohibited conduct recommendation from the ACCC, to apply to the Federal Court (the court) for a divestiture order and for the court to make related orders that a corporation or another body corporate dispose of interests in securities or assets that are part of its electricity business; set out the notice and recommendation procedures that must be followed before an order can be made in respect of a corporation or another body corporate; confer new compulsory information gathering powers on the Australian Energy Regulator (AER); allow the AER to share information with other agencies; and facilitate the conferral of functions related to the regulation of retail electricity prices on the AER.

Progress of bill

For committee reference information, please see the Notes section at the end of this page.

House of Representatives
Introduced and read a first time 18/09/19  
Second reading moved 18/09/19  
Second reading debate 22/10/19  
Second reading debate 23/10/19  
Second reading agreed to 23/10/19  
Consideration in detail debate 23/10/19 Amendment details: 3 Opposition agreed to
Third reading agreed to 23/10/19  
     
Senate
Introduced and read a first time 11/11/19  
Second reading moved 11/11/19  
Second reading debate 11/11/19  
Second reading debate 12/11/19  
Second reading agreed to 12/11/19  
Committee of the Whole debate 12/11/19 Amendment details: 1 Government agreed to
Third reading agreed to 12/11/19  
     
House of Representatives
Consideration of Senate message 25/11/19 Details: House agreed to Senate amendment
     
Finally passed both Houses 25/11/19  
Assent 10/12/19 Act no: 115 - Year: 2019
     

Text of bill

  • First reading

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  • Third reading

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  • As passed by both Houses

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Explanatory memoranda

  • Explanatory memorandum

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  • Revised explanatory memorandum

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  • Supplementary explanatory memorandum

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Second reading speeches


Proposed amendments

House of Representatives
  • Non-Government
BANDT, Adam, MP

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  • Non-Government
BUTLER, Mark, MP

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Senate
  • Australian Greens [sheet 8799]
HANSON-YOUNG, Sen Sarah

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  • Australian Greens [sheet 8798]
HANSON-YOUNG, Sen Sarah

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  • Centre Alliance [sheet 8775 revised]
PATRICK, Sen Rex

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  • Government [sheet ZA499]

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  • Opposition [sheet 8794]
MCALLISTER, Sen Jenny

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Schedules of amendments

  • Schedule of the amendment made by the Senate

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Bills Digest



Notes