Cash Distribution Framework Bill 2026, Cash Distribution Framework (Consequential Amendments and Transitional Provisions) Bill 2026

A small majority voted in favour of a motion introduced by Senator Nick McKim (Greens), which means it was successful.

Motion text

Australian Greens' circulated amendment—

(1) Page 164 (after line 4), after Subdivision A, insert:

Subdivision AA — Protections for employees

162A Powers must not be exercised to lessen employee entitlements

The Reserve Bank must not take action in accordance with this Part in relation to a designated entity if:

(a) the action would result in the entitlements of an employee of the designated entity being less beneficial than they were immediately before the action was taken; or

(b) each of the following are satisfied:

(i) there is an employee (the current employee) of the designated entity immediately before the action is taken;

(ii) the action would result in the engagement of a person (the new employee) to perform the same, or substantially the same, work as that performed by the current employee;

(iii) the entitlements of the new employee would be less beneficial than the entitlements of the current employee.