27th Mar 2024, 4:49 PM – Senate Treasury Laws Amendment (Making Multinationals Pay Their Fair Share — Integrity and Transparency) Bill 2023 - Committee of the Whole - Consultation requirements, delaying applic...

The majority voted against amendments introduced by the Victorian Senator Jane Hume (Liberal), which means they failed and will not become part of the bill.

Amendment text

(1) Clause 2, page 2 (at the end of the table), add:

4. Schedule 3

The day after this Act receives the Royal Assent.

(2) Schedule 2, item 144, page 63 (line 4), omit "2023", substitute "2024".

(3) Schedule 2, item 144, page 63 (line 8), omit "2023", substitute "2024".

(4) Page 63 (after line 17), at the end of the Bill, add:

Schedule 3 — Consultation

1 Consultation

(1) Before 1 July 2024, the Treasurer must ensure that:

(a) consultation on the amendments made by Schedule 2 to this Act is undertaken:

(i) for a period of at least 3 months; and

(ii) with such industry participants as the Treasurer considers appropriate; and

(b) a report is prepared on the consultation.

(2) As soon as practicable after the completion of the report referred to in paragraph (1)(b), the persons who prepared the report must give it to the Treasurer.

(3) The Treasurer must cause a copy of the report to be tabled in each House of the Parliament within 15 sitting days of that House after the report is given to the Treasurer.