Overseas Investment (Urgent Measures) Amendment Bill

I just have a very quick question, actually. It won’t take a minute. Given that the bill, I think, comes into being 14 days after whatever it does—passes through the House—my question was: when is that, given that we’re in urgency and it’s Friday night? How many days is 14 days and when does that happen? That’s my simple question.

Just before I address that question, I just want to correct an answer that I gave which was incorrect as to the detail at the end of the last bit, where I explained, in respect of the national interest test, that for fishing quota at the end of all this, there’s a $100 million threshold. I’m advised by officials that that’s not correct and that the national interest test can, if it’s elevated by the relevant decision-making Minister on grounds of national interest, be considered by the Minister of Finance at lower thresholds in respect of fisheries assets. So I’m sorry about my unintentional misleading of the member in respect of that.

In respect of the issue as to when the 14 days runs from, I suppose it depends when this House passes the legislation. But, after the House passes the legislation, it’s generally a quick process of a day or so before Royal assent is granted, and the 14-day period would run thereafter.

Clause 1 agreed to.

Clause 2 agreed to.

House resumed.

The Chairperson reported the Overseas Investment (Urgent Measures) Amendment Bill with amendment.

Report adopted.

Third Reading