Question Time AU

Bill Debate · Second Reading

Corporations (Review Fees) Amendment (Technical Amendments) Bill 2025; Second Reading

House of Representatives · Wednesday 29 October 2025

Continued from Thursday 9 October 2025.

Official Hansard for this day (APH) · Read this debate on OpenAustralia

At a glance

The debate concerned a bill to retrospectively validate ASIC fees collected between 2011 and 2025, which were deemed unlawful due to a drafting error in indexation legislation. Pat Conaghan argued that while the error resulted in over $150 million in invalid charges, the bill required scrutiny before passage. He proposed referring the legislation to the Senate Economics Legislation Committee to investigate the oversight and determine if affected businesses should receive leniency. The debate concluded with the motion adjourned, pending further committee review.

Outcome

The debate was adjourned.

Summary in reported speech - not a transcript. AI-generated, so check the official record before quoting.

How the debate unfolded

Continued the debate

Pat Conaghan (Cowper) (National Party) Nationals

Conaghan argued that the bill sought to retroactively validate fees collected by ASIC over a 14-year period following a drafting error in 2011 legislation. Conaghan stated that between $150 million and $200 million had been over-collected from registered and deregistered entities without proper legal basis. While noting the Coalition generally opposes retrospective taxation, Conaghan indicated they would not oppose the bill outright to avoid a budget shortfall. However, he insisted the legislation required referral to the Senate Economics Legislation Committee for proper scrutiny regarding accountability and potential refunds for businesses.