Bill
Asian Infrastructure Investment Bank Bill 2015
passed, as at 2015-10-13. Treasury portfolio.
- Sponsor
- Not recorded
- Portfolio
- Treasury
Recorded stages
Divisions
- Ian Macdonald I relish joining this debate on the Asian Infrastructure Investment Bank Bill. Senator Lambie was the last speaker on this just before question time. I am not quite sure who writes Senator Lambie's speeches, but I cannot believe that she believes the words she said in her speech—that this bank is like the Chinese military taking over the world or an attempt by the Chinese government to expand communism. I think those were the words she used. Sarah Hanson-Young I raise a point of order, Acting Deputy President. I would like clarification as to who Senator 'lammie' is—perhaps you meant Senator Lambie, Senator Macdonald. I am not sure. But referring to people by their correct name would probably be helpful. Deborah O'Neill There is no point of order. Ian Macdonald Senator Lambie was, in her speech, likening the Asian Infrastructure Investment Bank Bill to the communist Chinese government expanding communism. I cannot believe that even Senator Lambie would believe that. This bill will help Australia be part of the Asian Infrastructure Investment Bank. It provides the parliament's authority for Australia's involvement and also an appropriation for the payment of Australia's capital contribution to the Asian Infrastructure Investment Bank. Why do we want to become part of this bank? Why does Australia think that this is a good idea and wants to be part of it? It is because the establishment of this bank, and Australia's part in it, will be good for Australia and for Australian jobs. Following completion of all the necessary ratification processes, Australia will lodge its instrument of ratification with the bank's depository, which is in China, and Australia's membership of the bank will become effective on the latter of the date of lodgement or on the day on which the bank is established. The commencement set out in the bill addresses the situation of the bill having received royal assent and the bank not yet having been established. That is provided for in — 2015-09-15, Senate: negative, ayes 10, noes 39
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