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This is a Bill, not an Act. For current law, see the Acts databases.
2013-2014
The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES
Presented and read a first time
Parliamentary Joint Committee on the
Australia Fund Bill 2014
No. , 2014
(Mr Palmer)
A Bill for an Act to provide for a Parliamentary
Joint Committee to investigate establishing an
Australia Fund, and for related purposes
No. , 2014
Parliamentary Joint Committee on the Australia Fund Bill 2014
i
Contents
Part 1--Preliminary
1
1
Short title ........................................................................................... 1
2
Commencement ................................................................................. 2
3
Simplified outline of this Act ............................................................. 2
4
Definitions ......................................................................................... 2
Part 2--Parliamentary Joint Committee on the Australia Fund
3
Division 1--Establishment
3
5
Parliamentary Joint Committee on the Australia Fund ...................... 3
6
Nomination of Committee members .................................................. 3
7
Appointment of Committee members ................................................ 4
8
Ceasing to be a Committee member .................................................. 5
Division 2--Functions and powers of the Committee
6
9
Functions of the Committee ............................................................... 6
10
Powers of the Committee ................................................................... 7
Division 3--Procedures of the Committee
8
11
Convening meetings .......................................................................... 8
12
Presiding at meetings ......................................................................... 8
13
Quorum .............................................................................................. 8
14
Voting at meetings ............................................................................. 8
15
Other powers and proceedings of the Committee .............................. 8
Part 3--Miscellaneous
9
16
Sunset provision ................................................................................. 9
17
Rules .................................................................................................. 9
No. , 2014
Parliamentary Joint Committee on the Australia Fund Bill 2014
1
A Bill for an Act to provide for a Parliamentary
1
Joint Committee to investigate establishing an
2
Australia Fund, and for related purposes
3
The Parliament of Australia enacts:
4
Part 1--Preliminary
5
6
1 Short title
7
This Act may be cited as the Parliamentary Joint Committee on the
8
Australia Fund Act 2014.
9
Part 1 Preliminary
Section 2
2
Parliamentary Joint Committee on the Australia Fund Bill 2014
No. , 2014
2 Commencement
1
This Act commences on the day after this Act receives the Royal
2
Assent.
3
3 Simplified outline of this Act
4
This Act establishes the Parliamentary Joint Committee on the
5
Australia Fund. The Committee is to investigate whether a body, to
6
be known as the Australia Fund, should be established, and the
7
appropriateness of existing bankruptcy and insolvency laws for
8
businesses in times of crisis.
9
4 Definitions
10
In this Act:
11
commencement means the day that this Act commences.
12
Committee means the Parliamentary Joint Committee on the
13
Australia Fund for the time being constituted under this Act.
14
member means a member of the Committee, and includes the
15
Chair.
16
times of crisis include times when there is a natural disaster (such
17
as a drought, flood or bushfire) or a global financial downturn.
18
Parliamentary Joint Committee on the Australia Fund Part 2
Establishment Division 1
Section 5
No. , 2014
Parliamentary Joint Committee on the Australia Fund Bill 2014
3
Part 2--Parliamentary Joint Committee on the
1
Australia Fund
2
Division 1--Establishment
3
5 Parliamentary Joint Committee on the Australia Fund
4
(1) A committee of members of the Parliament, to be known as the
5
Parliamentary Joint Committee on the Australia Fund, is to be
6
appointed in accordance with the process and within the
7
timeframes set out in this Part.
8
(2) The Committee is to consist of up to 10 members.
9
(3) A member of the Committee ceases to hold office when the House
10
of Representatives expires by the passing of time or is dissolved.
11
Note:
See also section 8.
12
6 Nomination of Committee members
13
(1) The nomination process for Committee membership is as follows:
14
(a) a Government Whip in the Senate may nominate one member
15
of the Government in the Senate; and
16
(b) an Opposition Whip in the Senate may nominate one member
17
of the Opposition in the Senate; and
18
(c) 2 Senators, being a member of a minority party or an
19
independent member, may be nominated by one of their
20
number; and
21
(d) a Government Whip in the House of Representatives may
22
nominate 2 members of the Government in the House of
23
Representatives; and
24
(e) an Opposition Whip in the House of Representatives may
25
nominate 2 members of the Opposition in the House of
26
Representatives; and
27
(f) 2 members of the House of Representatives, being a member
28
of a minority party or an independent member, may be
29
nominated by one of their number.
30
Part 2 Parliamentary Joint Committee on the Australia Fund
Division 1 Establishment
Section 7
4
Parliamentary Joint Committee on the Australia Fund Bill 2014
No. , 2014
Note:
For restrictions on Committee membership, see subsection (4).
1
(2) One of the Government members nominated for Committee
2
membership may also be nominated by the relevant Government
3
Whip to be the Chair.
4
(3) Nominations are to be given:
5
(a) in the case of the Senate--to the President of the Senate; and
6
(b) in the case of the House of Representatives--to the Speaker
7
of the House of Representatives;
8
within 14 days of commencement.
9
(4) A member of the Parliament is not eligible for appointment as a
10
member of the Committee if he or she is:
11
(a) a Minister; or
12
(b) the President of the Senate; or
13
(c) the Speaker of the House of Representatives.
14
7 Appointment of Committee members
15
(1) As soon as practicable after nominations are received, the President
16
of the Senate is to appoint:
17
(a) the member of the Government in the Senate nominated by a
18
Government Whip in the Senate; and
19
(b) the member of the Opposition in the Senate nominated by an
20
Opposition Whip in the Senate; and
21
(c) the 2 Senators, being a member of a minority party or an
22
independent member, nominated by one of their number.
23
(2) As soon as practicable after nominations are received, the Speaker
24
of the House of Representatives is to appoint:
25
(a) the members of the Government in the House of
26
Representatives nominated by a Government Whip in the
27
House of Representatives; and
28
(b) the members of the Opposition in the House of
29
Representatives nominated by an Opposition Whip in the
30
House of Representatives; and
31
Parliamentary Joint Committee on the Australia Fund Part 2
Establishment Division 1
Section 8
No. , 2014
Parliamentary Joint Committee on the Australia Fund Bill 2014
5
(c) the 2 members of the House of Representatives, being a
1
member of a minority party or an independent member,
2
nominated by one of their number.
3
(3) The Chair is to be appointed:
4
(a) if a member of the Government in the Senate is nominated--
5
by the President of the Senate; and
6
(b) if a member of the Government in the House of
7
Representatives is nominated--by the Speaker of the House
8
of Representatives.
9
8 Ceasing to be a Committee member
10
(1) A member of the Committee ceases to hold office:
11
(a) at the time mentioned in subsection 5(3); or
12
(b) if he or she becomes the holder of an office specified in
13
subsection 6(4); or
14
(c) if he or she ceases to be a member of the House of Parliament
15
by which he or she was appointed; or
16
(d) if he or she resigns his or her office as provided by
17
subsection (2) or (3).
18
(2) A member appointed by the Senate may resign his or her office by
19
writing signed by him or her and delivered to the President of the
20
Senate.
21
(3) A member appointed by the House of Representatives may resign
22
his or her office by writing signed by him or her and delivered to
23
the Speaker of the House.
24
Part 2 Parliamentary Joint Committee on the Australia Fund
Division 2 Functions and powers of the Committee
Section 9
6
Parliamentary Joint Committee on the Australia Fund Bill 2014
No. , 2014
Division 2--Functions and powers of the Committee
1
9 Functions of the Committee
2
The Committee has the following functions:
3
(a) to investigate whether a body, to be known as the Australia
4
Fund, should be established to support rural and
5
manufacturing industries in Australia so that a business
6
within those industries may continue to operate in times of
7
crisis, and to provide the following kinds of assistance:
8
(i) emergency or ongoing financial relief;
9
(ii) a loan of money to such a business;
10
(iii) act as a guarantor for all or part of a loan or proposed
11
loan to such a business;
12
(iv) purchase all or part of an existing loan to such a
13
business;
14
(v) capitalise or waive interest owed by such a business;
15
(vi) assume control of such a business for a particular
16
period;
17
(vii) give money to an appropriate industry body;
18
(viii) give money to such a business for the purpose of
19
purchasing new technology to make it more
20
economically viable and competitive or restructuring it;
21
and
22
(b) to assess whether:
23
(i) existing bankruptcy and insolvency laws should be
24
modified or temporarily relaxed for businesses in times
25
of crisis; and
26
(ii) any foreign bankruptcy or insolvency laws should be
27
adopted as laws of the Commonwealth; and
28
(c) to report to both Houses of Parliament on its
29
recommendations on the matters mentioned in paragraphs (a)
30
and (b) within 30 days of its final deliberations, and the
31
reasons for those recommendations.
32
Parliamentary Joint Committee on the Australia Fund Part 2
Functions and powers of the Committee Division 2
Section 10
No. , 2014
Parliamentary Joint Committee on the Australia Fund Bill 2014
7
10 Powers of the Committee
1
The Committee may do all or any of the following:
2
(a) call for witnesses to attend and for documents to be
3
produced;
4
(b) conduct proceedings at any place it sees fit;
5
(c) sit in public or in private;
6
(d) report from time to time;
7
(e) adjourn from time to time and sit during any adjournment of
8
the Senate and the House of Representatives.
9
Part 2 Parliamentary Joint Committee on the Australia Fund
Division 3 Procedures of the Committee
Section 11
8
Parliamentary Joint Committee on the Australia Fund Bill 2014
No. , 2014
Division 3--Procedures of the Committee
1
11 Convening meetings
2
The Chair must convene such meetings of the Committee as the
3
Chair considers are necessary for the efficient performance of the
4
Committee's functions.
5
12 Presiding at meetings
6
(1) The Chair is to preside at meetings of the Committee at which he
7
or she is present.
8
(2) If the Chair is absent, the members present must elect one of their
9
number to preside at the meeting.
10
13 Quorum
11
At a meeting of the Committee, 3 members of the Committee
12
constitute a quorum, but if a question is to be voted on at the
13
meeting, the quorum must include one Government member of
14
either House and one non-Government member of either House.
15
14 Voting at meetings
16
(1) A question arising at a meeting of the Committee is to be
17
determined by a majority of the votes of the members present and
18
voting.
19
(2) The member presiding at the meeting:
20
(a) has a deliberative vote; and
21
(b) if necessary, also a casting vote.
22
15 Other powers and proceedings of the Committee
23
All other matters relating to the powers and proceedings of the
24
Committee are to be determined by the Standing Orders of the
25
Senate that apply to Parliamentary Joint Committees, as amended
26
from time to time.
27
Miscellaneous Part 3
Section 16
No. , 2014
Parliamentary Joint Committee on the Australia Fund Bill 2014
9
Part 3--Miscellaneous
1
2
16 Sunset provision
3
This Act ceases to have effect immediately after the Committee
4
tables its final report in each House of the Parliament.
5
17 Rules
6
The Minister may, by legislative instrument, make rules
7
prescribing matters:
8
(a) required or permitted by this Act to be prescribed by the
9
rules; or
10
(b) necessary or convenient to be prescribed for carrying out or
11
giving effect to this Act.
12