Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024

The majority voted against the opposition amendments, which means they were not successful and will not be included in the bill. The amendments related to scope 3 greenhouse gas emissions and removing group 3 entities.

Amendment text

SHEET 2692

(1) Schedule 4, item 25, page 253 (line 30) to page 254 (line 15), omit paragraphs 292A(3)(a) to (c), substitute:

(a) the consolidated revenue for the financial year of the entity and the entities it controls (if any) is $200 million or more;

(b) the value of the consolidated gross assets at the end of the financial year of the entity and the entities it controls (if any) is $500 million or more;

(c) the entity and the entities it controls (if any) have 250 or more employees at the end of the financial year.

(2) Schedule 4, item 145, page 280 (lines 16 to 23), omit the definitions of first transitional period and second transitional period in section 1707.

(3) Schedule 4, item 145, page 281 (after line 5), after the definition of start date in section 1707, insert:

transitional period: if the start date occurs on 1 January 2025 or 1 July 2025, the transitional period is the period that:

(a) starts on the start date; and

(b) ends on 30 June 2026.

Otherwise, there is no transitional period.

(4) Schedule 4, item 145, page 281 (line 25), omit "first".

(5) Schedule 4, item 145, page 281 (line 29) to page 282 (line 1), omit paragraphs 1707B(1)(b) and (c), substitute:

(b) the financial year commences on or after 1 July 2026.

(6) Schedule 4, item 145, page 282 (line 3), omit "first".

SHEET 2693

(1) Schedule 4, item 3, page 247 (lines 17 and 18), omit the definition of financed emissions in section 9.

(2) Schedule 4, item 3, page 247 (lines 23 and 24), omit the definition of scope 3 greenhouse gas emissions in section 9.

(3) Schedule 4, item 26, page 259 (line 6), omit "or".

(4) Schedule 4, item 26, page 259 (lines 7 and 8), omit subparagraph 296D(1)(b)(iii).

(5) Schedule 4, item 145, page 284 (lines 13 and 14), omit subparagraph 1707D(3)(b)(i).