Division
The majority voted in favour of a [motion](https://www.openaustralia.org.au/debates/?id=2024-09-12.26.2) "*that the bill be read a second time.*" In other words, they voted to agree with the main idea of the bill. They can now discuss the bill in greater detail. ### What does this bill do? According to the [bills digest](https://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/bd/bd2324a/24bd45) (which is a document prepared by the parliamentary library): > *The Treasury Laws Amendment (Reserve Bank Reforms) Bill 2023 (the Bill) amends the Reserve Bank Act 1959 to improve the governance of the Reserve Bank of Australia (RBA) by establishing a new Governance Board and a new Monetary Policy Board. The amendments are part of the Government’s response to the recommendations of the Review of the Reserve Bank entitled: An RBA fit for the future.* > > *The functions of the Governance Board are, amongst other things:* > > * *to oversee, and determine policies for, the management and organisational affairs of the RBA* > > * *to determine the policies of the RBA for the performance of the RBA’s functions in relation to delivering banking services to the Commonwealth and the issuing, re-issuing and cancelling Australian notes* > > * *to determine the policies of the RBA in relation to any matter not covered by the functions of the Monetary Policy Board or the Payments System Board.* > > *The role of the Monetary Policy Board is to determine the monetary policy of the RBA in a way that, in the Board’s opinion, best contributes to price stability and the maintenance of full employment in Australia.* > > *The functions of the existing Payments System Board are updated so that they are expressed in similar terms to those of the Governance Board and the Monetary Policy Board.* > > *The Bill has been referred to the Senate Economics Legislation Committee for inquiry and report by 21 March 2024.*
House of Representatives, 2024-09-12. affirmative: ayes 83, noes 61.
Question
The majority voted in favour of a [motion](https://www.openaustralia.org.au/debates/?id=2024-09-12.26.2) "*that the bill be read a second time.*" In other words, they voted to agree with the main idea of the bill. They can now discuss the bill in greater detail. ### What does this bill do? According to the [bills digest](https://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/bd/bd2324a/24bd45) (which is a document prepared by the parliamentary library): > *The Treasury Laws Amendment (Reserve Bank Reforms) Bill 2023 (the Bill) amends the Reserve Bank Act 1959 to improve the governance of the Reserve Bank of Australia (RBA) by establishing a new Governance Board and a new Monetary Policy Board. The amendments are part of the Government’s response to the recommendations of the Review of the Reserve Bank entitled: An RBA fit for the future.* > > *The functions of the Governance Board are, amongst other things:* > > * *to oversee, and determine policies for, the management and organisational affairs of the RBA* > > * *to determine the policies of the RBA for the performance of the RBA’s functions in relation to delivering banking services to the Commonwealth and the issuing, re-issuing and cancelling Australian notes* > > * *to determine the policies of the RBA in relation to any matter not covered by the functions of the Monetary Policy Board or the Payments System Board.* > > *The role of the Monetary Policy Board is to determine the monetary policy of the RBA in a way that, in the Board’s opinion, best contributes to price stability and the maintenance of full employment in Australia.* > > *The functions of the existing Payments System Board are updated so that they are expressed in similar terms to those of the Governance Board and the Monetary Policy Board.* > > *The Bill has been referred to the Senate Economics Legislation Committee for inquiry and report by 21 March 2024.*
How each member voted
Per-member votes are not present in this static export. Consult the original division record.
Related bills
Only formal divisions leave a per-member record. A procedural vote is not necessarily a vote for or against a bill.