Senator JACINTA COLLINS (Victoria—Manager of Government Business in the Senate and Parliamentary Secretary for School Education and Workplace Relations) (15:43): I give notice that, on the next day of sitting, I shall move: That the provisions of paragraphs (5) to (8) of standing order 111 not apply to the following bills, allowing them to be considered during this period of sittings: Corporations Legislation Amendment (Derivative Transactions) Bill 2012 Crimes Legislation Amendment (Serious Drugs, Identity Crime and Other Measures) Bill 2012 Freedom of Information Amendment (Parliamentary Budget Office) Bill 2012 Higher Education Support Amendment (Streamlining and Other Measures) Bill 2012 National Health Security Amendment Bill 2012 Personal Liability for Corporate Fault Reform Bill 2012 Superannuation Auditor Registration Imposition Bill 2012 Superannuation Laws Amendment (Capital Gains Tax Relief and Other Efficiency Measures) Bill 2012 Superannuation Legislation Amendment (New Zealand Arrangement) Bill 2012 Tax Laws Amendment (2012 Measures No. 5) Bill 2012 Tax Laws Amendment (Clean Building Managed Investment Trust) Bill 2012. I also table statements of reasons to justify the need for these bills to be considered during these sittings and seek leave to have the statements incorporated in Hansard. Leave granted. The statements read as follows— STATEMENT OF REASONS FOR INTRODUCTION AND PASSAGE IN THE 2012 SPRING SITTINGS CORPORATIONS LEGISLATION AMENDMENT (DERIVATIVE TRANSACTIONS) BILL Purpose of the Bill The bill provides a legislative framework to implement Australia’s G-20 commitments in relation to over the counter (OTC) derivatives reforms. Reasons for Urgency Australia has committed at G-20 that standardised OTC derivatives should be trade reported, centrally cleared and, where appropriate, traded on-platform by the end of 2012. Therefore, passage in the Spring sittings is necessary in order to implement Australia’s G-20 commitments in 2012. Australia’s framework needs to be designed to meet the requirements for mutual recognition under international OTC derivatives regimes, which are currently still in the process of being settled. There is also a need for further consultation on the details of Australia’s framework, which is why the proposed amendments need to be introduced in the Spring sittings. STATEMENT OF REASONS FOR INTRODUCTION AND PASSAGE IN THE 2012 SPRING SITTINGS CRIMES LEGISLATION AMENDMENT (SERIOUS DRUGS, IDENTITY CRIME AND OTHER MEASURES) BILL 2012 Purpose of the Bill The bill contains a range of measures to improve Commonwealth criminal justice arrangements, including amendments to: the Commonwealth’s serious drug offences framework to ensure that it can respond flexibly and quickly to new and emerging substances expand identity crime offences to cover people who deal with identification information with intent to commit an indictable offence against the law of a foreign country, or who use a carriage service such as the internet to obtain the identification information respond to identified vulnerabilities to organised crime in the aviation environment by creating new offences relating to air travel and the use of false identities improve the operation of the Law Enforcement Integrity Commissioner Act 2006 clarify that superannuation orders can be made in relation to all periods of a person’s employment as a Commonwealth employee, not only the period in which a corruption offence occurred, and increase the value of a penalty unit and introduce a requirement for the triennial review of the penalty unit. Reasons for Urgency Urgent introduction and passage of the bill is required to enable new substances, including certain synthetic cannabinoids, to be listed within the Commonwealth’s serious drug offences framework as soon as possible. This will enable law enforcement and border protection agencies to respond rapidly to threats posed by these substances. The bill also contains key measures to combat organised crime and identity crime. STATEMENT OF REASONS FOR INTRODUCTION AND PASSAGE IN THE 2012 SPRING SITTINGS FREEDOM OF INFORMATION AMENDMENT (PARLIAMENTARY BUDGET OFFICE) BILL Purpose of the Bill The bill amends the Freedom of Information Act 1982 (FOI Act) to provide a new FOI exemption for documents related to confidential requests to the Parliamentary Budget Office (PBO) and to make a consequential amendment to the Privacy Act 1988. While the PBO is an exempt agency under the FOI Act, documents related to PBO information held by departments and agencies may not be protected from release under the FOI Act. The bill amends the FOI Act to provide an exemption for information held by departments and agencies that relates to a confidential request to the PBO. The bill also amends section 25 of the FOI Act to provide that an agency is not required to give information as to the existence or non-existence of a document where it is exempt under the new exemption for documents that relate to a confidential request to the PBO. Reasons for Urgency As the Parliamentary Budget Office commenced operations on the 23 July 2012 it is essential that the amendments are introduced and passed as soon as possible. The amendments are critical to the effective operation of the new Office and will enhance the operation of the Parliamentary Budget Office for all senators and members from all political parties. STATEMENT OF REASONS FOR INTRODUCTION AND PASSAGE IN THE 2012 SPRING SITTINGS HIGHER EDUCATION SUPPORT AMENDMENT (STREAMLINING AND OTHER MEASURES) BILL Purpose of the Bill Amendments are required to the Higher Education Support Act 2003 (the Act) to give effect to the April 2012 COAG National Partnership Agreement on Skills Reform. The amendments give effect to the Government’s decision to implement the COAG agreement for a trial of specific Certificate IV VET courses of study to commence on 1 January 2013. The proposed amendments will implement a risk management approach to improve quality assurance of the approvals process and to enhance the provider suspension and revocation processes to improve protection of students and public monies. Reasons for Urgency Introduction and passage of the bill in the 2012 Spring sitting period is necessary to ensure the COAG trial of Certificate IV qualifications can commence by 1 January 2013. A delay in the amendments to improve the approvals process and the provider suspension and revocation processes may jeopardise public monies paid to high risk private providers on behalf of students undertaking courses at such providers. STATEMENT OF REASONS FOR INTRODUCTION AND PASSAGE IN THE 2012 SPRING SITTINGS NATIONAL HEALTH SECURITY AMENDMENT BILL 2012 Purpose of the Bill The bill amends the National Health Security Act 2007 (NHS Act) to: - introduce greater flexibility to better manage the security risk of security sensitive biological agents (SSBA) handlings by entities that: handle SSBAs temporarily are in the process of complying with the SSBA Standards are doing emergency facility maintenance - enhance reporting about suspected SSBAs by: including handling particulars on the National Register of SSBAs requiring initial testers which are registered entities to report the results of confirmatory tests exempting the requirements of handling suspected SSBAs to already prescribed law enforcement agencies Reasons for Urgency The object of the NHS Act is to establish controls for the security of biological agents of security concern that could be used in bioterrorist attacks. The controls are aimed at a group of agents collectively designated as security sensitive biological agents (SSBAs). Entities that handle SSBAs must register under the NHS Act and comply with the reporting requirements and SSBA Standards. Passage of the bill is required as soon as possible to reduce uncertainty among stakeholders. STATEMENT OF REASONS FOR INTRODUCTION AND PASSAGE IN THE 2012 SPRING SITTINGS PERSONAL LIABILITY FOR CORPORATE FAULT REFORM BILL Purpose of the Bill The bill will meet deadlines set by the Council of Australian Governments (COAG) to increase harmonisation in relation to the imposition of personal liability for corporate fault across Australian legislation in accordance with a set of principles. These reforms will ensure that personal liability for corporate fault is only imposed when justified under Principles endorsed by COAG, and are imposed in a consistent manner across Australian jurisdictions. Reasons for Urgency The COAG timeline pursuant to the National Partnership Agreement for a Seamless National Economy requires that all jurisdictions develop a legislative plan to implement agreed reforms and introduce legislation by end-2012. The Government has released three exposure drafts of the Bill as part of its public consultation process. Reforms in the area of personal liability for corporate fault had been in progress for some time. In addition to general concerns regarding the delays in this COAG project, the new COAG deadline has been publically criticised by industry, as well as the COAG Reform Council. In response to these views, the Government considers that passage of legislation by end-2012 would be more appropriate. To ensure that the COAG timeline is met, the Commonwealth has been preparing draft legislation on the understanding that it would be introduced and passed by spring 2012. In the event that introduction does not occur in Spring of 2012, the Commonwealth would be found to be in breach the COAG milestone that all jurisdictions plan to implement agreed reforms and introduce legislation by end 2012. STATEMENT OF REASONS FOR INTRODUCTION AND PASSAGE IN THE 2012 PRING SITTINGS SUPERANNUATION LAWS AMENDMENT (CAPITAL GAINS TAX RELIEF AND OTHER EFFICIENCY MEASURES) BILL SUPERANNUATION AUDITOR REGISTRATION IMPOSITION BILL Purpose of the Bills The bills will: require self-managed superannuation (SMSF) auditors to be registered and to comply with ongoing competency and independence standards (to impose registration, examination and annual renewal fees on SMSF auditors); mandate the use of data and payments standards and e-commerce for processing of roll-overs and accepting contributions (SuperStream measure); mandate consolidation of multiple accounts within superannuation (SuperStream measure); expand existing reporting requirements for superannuation providers in order to support the SuperStream measures, specifically account consolidation and on-line display of accounts held by an individual; and provide taxation relief in the form a loss transfer and capital gains tax roll-over for merging superannuation funds to support the implementation of Stronger Super (Part 1). Reasons for Urgency The Stronger Super measures implement recommendations of the Cooper Review and have a start date of 1 July 2012. The superannuation reporting requirements measure is critical to ensure industry readiness to meet reporting timeframe. The relief for merging superannuation funds measure was announced in the 2012-13 Budget. The Minister for Financial Services and Superannuation’s press release indicated legislation would be introduced in the Spring 2012 sittings of Parliament. It applies from 1 October 2011. Taxpayers seeking to benefit from this measure will be unable to do so until legislation is passed. STATEMENT OF REASONS FOR INTRODUCTION AND PASSAGE IN THE 2012 SPRING SITTINGS SUPERANNUATION LEGISLATION AMENDMENT (NEW ZEALAND ARRANGEMENT) BILL Purpose of the Bill The bill will: provide for the portability of retirement savings between Australia and New Zealand. Reasons for Urgency There has been considerable delay in progressing this measure, which was agreed by a memorandum of understanding in 2009 between the New Zealand and Australian Governments to remove an impediment to labour mobility between the countries. There are also further government formalities to be undertaken after passage and before the arrangement takes effect. STATEMENT OF REASONS FOR INTRODUCTION AND PASSAGEIN THE 2012 SPRING SITTINGS TAX LAWS AMENDMENT (2012 MEASURERS NO. 5) BILL Purpose of the Bill The bill will: make consequential amendments to the taxation of gaseous fuels; phase out eligibility for the mature age worker tax offset by restricting eligibility to those born after 30 June 1957; amend the definition of ‘eligible no-till seedert’ to include just the tool as a combination of the tool and cart; remove a loophole from the wine equalisation tax (WET) rebate in relation to blending and further manufacture; and add the Queen Elizabeth Diamond Jubilee Trust as a specifically listed deductible gift recipient. Reasons for Urgency The Government wants to provide DGR specific listing in the tax law to the Queen Elizabeth Diamond Jubilee Trust (the Trust) during the period of The Queen’s diamond jubilee celebrations. Timely passage of the necessary amendment in the tax law is required to enable tax deductible fundraising by the Trust to commence as close as possible to the Trust’s proposed fundraising launch in early November 2012. Donors may be reluctant to donate to the Trust until it is granted DGR status, hampering fundraising efforts. The gaseous fuels consequential amendments need to be legislated as soon as possible as the principal alternate fuels legislation commences on 1 July 2012. The phase out of the eligibility for the mature age worker tax offset measure was announced in the 2012-13 Budget and commences on 30 June 2013. The ‘eligible no-till seeder’ measure applies over a three-year period to tools which were installed and ready for use on 1 July 2012 and is intended to provide an incentive to adopt ‘no-till’ practices. Hence the measure should receive passage as early as possible to provide certainty for stakeholders. The WET measure applies from 1 July 2012. This measure must be implemented to prevent further exploitation of the wine producer rebate. STATEMENT OF REASONS FOR INTRODUCTION AND PASSAGE IN THE 2012 SPRING SITTINGS TAX LAWS AMENDMENT (CLEAN BUILDING MANAGED INVESTMENT TRUST) BILL Purpose of the Bill The bill will: provide a final withholding tax rate of 10 per cent on fund payments from eligible Clean Building Managed Investment Trusts (MITs) made to foreign residents in information exchange countries. Reasons for Urgency The Government has committed that this measure will be introduced and passed in the current Spring sittings of Parliament.