Treasury Laws Amendment (2018 Measures No. 2) Bill 2019

BILLS - Treasury Laws Amendment (2018 Measures No. 2) Bill 2019 - Second Reading

House of Representatives on 19/09/2019

Watch Matt's Speech here

Mr KEOGH (Burt) (13:28): I thank the previous speaker for the absolutely superb timing of his speech today. It's been of such great assistance to the entire House. I do worry about some of the things that the member for Mackellar was passing on in his erudite comments in contribution to the debate just now, but I'm sure, while some of those comments did seem to come out of a hole in his head, he will, if anything, appreciate the fact that, for a critical piece of financial services legislation, I have worn my best financial services suit for this speech!

The critical thing—in the brief amount of time that I've been given to make a contribution on the speech right now, before I make some more general comments, potentially, later—is that I can, in respect of this legislation, refer members to the speech that I gave on this legislation back in 2018. It does say a lot about this government that, a year later, the bill still hasn't passed. I don't know what this government is doing, but, given that this is the same legislation we dealt with a year ago, which was legislation to fix up the legislation they'd brought in a year before that, as the member for Mackellar rightly pointed out, this does rely on ASIC regulations. So I very much hope, if ASIC are listening, that if there is one thing they do it is to make sure, when this legislation eventually passes this parliament, that they have those regulations ready to go, because, quite frankly, it would be a very sad indictment on this government given the delay in bringing in these amendments—

The DEPUTY SPEAKER ( Mr Hogan ): The debate is interrupted in accordance with standing order 43. The debate may be resumed at a later hour.