Name: Senate Economics Legislation Committee (part 1 of 2)
Uploaded: 2026-06-04T22:50:00+00:00

12:55 - 15:18

Speaker 32

Alright. I declare open this hearing of the economics legislation committee into the twenty twenty six, twenty seven budget estimates. I begin by acknowledging the traditional custodians of the land on which we meet today and pay my respects to their elders past and present and extend that respect to aboriginal and Torres Strait Islander peoples here today. The committee is due to report to the senate on Tuesday, 06/23/2026. The committee has set 06/12/2026 as the date by which senators are to submit written questions on notice and 07/24/2026 as the date for the return of answers to questions taken on notice.

The committee's proceedings today will begin with representatives from the Australian Securities and Investment Commission. The committee will be conducting today's hearings in person and via teleconference. Understanding order 26, the committee must take all evidence in public session, and this includes answers to questions on notice. I remind all witnesses that in giving evidence to the committee, they are protected by parliamentary privilege. It is unlawful for anyone to threaten or disadvantage a witness on account of evidence given to a committee, and such action may be treated by the senate as a contempt.

It is also a contempt to give false or misleading evidence. The senate has endorsed the following test of relevance of questions at estimates hearings. Any questions going to the operations or financial positions of the departments and agencies which are seeking funds in estimates are relevant questions for the purposes of estimates hearings. I remind officers that the senate has resolved that there are no areas in connection with the expenditure of public funds where any person has a discretion to withhold details or explanations from the parliament or its committees unless the parliament has expressly expressly provided otherwise. The senate has resolved also that an officer of a department of the Commonwealth shall not be asked to give opinions on matters of policy and shall be given reasonable opportunity to refer questions asked of the officer to superior officers or to a minister.

This resolution does not preclude questions asking for explanations of policy or factual questions about when and how policies were adopted. Witnesses are reminded of the senate order specifying the process by which a claim of public interest immunity should be raised, and I incorporate the public immunity statement into the hands up. I remind senators of their obligation under the behavior code for Australian parliamentarians to treat witnesses with dignity, courtesy, fairness, and respect. An officer called to answer a question for the first time should state their full name and the capacity in which they appear. I remind committee members and witnesses who are appearing via video conference and who are not speaking to mute their microphones.

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