THE House of Representatives Standing Committee on Procedure is holding a public hearing as part of its inquiry examining the practices and procedures relating to question time in the House.

Chair of the committee, Ross Vasta said the committee would hold a public hearing by teleconference tomorrow, June 4.

“This is the first of the committee’s public hearings into this inquiry,” Mr Vasta said.

“I’m really looking forward to the feedback and looking into ways we can make it easier for people to engage with question time and be part of the process.”

Deputy chair of the committee Milton Dick said the committee would hear from a range of witnesses about how question time could be improved.

The committee has received more than 40 submissions and has conducted surveys to seek suggestions from the public and from Members on the rules and conventions around question time and opportunities for change.

At the conclusion of its inquiry, the committee will make recommendations to the House for its consideration. Further information about the inquiry is available on the committee’s website.

Public hearing details

Date: Thursday, June 4, 2020
Time: 11am to 3.45pm
Location: Teleconference

Indicative times:
11am – 12 noon: Mr Harry Jenkins
1pm – 2pm: Ms Anna Burke
2pm –2.45pm: Professor Colleen Lewis
3pm–3.45pm: Accountability Roundtable
3.45pm: Close

The hearing will be broadcast live at aph.gov.au/live.

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THE House of Representatives Standing Committee on Economics will hear from ME Bank, the Australian Securities and Investments Commission (ASIC), and the Australian Prudential Regulation Authority (APRA) at an urgent public hearing by videoconference on June 3, 2020.

This hearing is part of the committee’s ongoing review of the four major banks and other financial institutions.

The Chair of the committee, Tim Wilson MP, said, "Australians who take out a banking product expect it to be available when they need it, not nabbed in the middle of the night without notification."

On May 14, 2020 the committee scrutinised ME Bank on its actions earlier this year in restricting customers’ access to redraw facilities. Since ME Bank’s appearance, the committee has sought information from APRA and ASIC on ME Bank’s conduct and engagement with the regulators on this issue.

"The discrepancy between ME Bank’s evidence to the committee and advice from ASIC is deeply concerning and requires further scrutiny," Mr Wilson said.

Public hearing details

Date: Wednesday, 3 June 2020
Time: 12pm to 1pm
Location: Videoconference

12pm – ME Bank
     ASIC
     APRA
 1pm – Finish

The hearings will be webcast at aph.gov.au/live.

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WEALTH manager Atlas Advisors Australia has acquired a significant share in the Elanor Wildlife Park Fund.

The fund consists of two iconic wildlife park assets: Featherdale Wildlife Park, located in Western Sydney and managed by ENN since 2013, and Mogo Zoo located in Batemans Bay on the NSW South Coast.

Executive chairman of Atlas Advisors Australia, Guy Hedley said the two wildlife parks were core attractions for domestic tourism with a mixture of property and longstanding and profitable business assets.

The Elanor Wildlife Park Fund is the first of its kind in Australia and is looking to capitalize on the growing nature-based tourism industry.

Mr Hedley said parties were looking to add other private zoo and wildlife park assets to the portfolio. He said nature-based tourism is the fastest growing sub-sector of the tourism industry in Australia and around the world.

“It is the perfect time to invest with nature-based tourism experiencing strong growth and much potential in the industry yet to be realised,” Mr Hedley said.

“As our environment comes increasingly under threat, wildlife parks and ecotourism offer residents and tourists the ability to experience, enjoy and learn about wildlife and nature in an animal-friendly and environmentally sustainable way.

“These organisations also contribute to building resilient regional economies which generate employment and innovative new experiences and products.”

Mr Hedley said there are around 86 private and 14 public zoos, wildlife parks and sanctuaries across Australia which present further acquisition and consolidation opportunities for the fund.

“These are a recession-proof assets that align with our strategy to ensure investment is put towards socially and environmentally responsible organisations,” Mr Hedley said.

“It also corresponds with investor calls for good corporate citizenship and increasing appetite for socially responsible investing.”

About Atlas Advisors Australia

Atlas Advisors Australia is a leading funds manager and investment advisory business, operating between China and Australia offering a wide range of financial services and wealth management solutions. With operations in Sydney and Melbourne in Australia and Shanghai in China, Atlas is able to support investors in all China and Australia locations.

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THE Queensland Government has committed to establishing domestic procurement targets focussed on enhancing opportunities for small and local businesses, according to the Chamber of Commerce and Industry Queensland (CCIQ).

CCIQ  has been calling for a procurement policy, including setting a small business target.

CCIQ’s general manager of advocacy and policy, Amanda Rohan, said the announcement would give businesses some confidence in securing government contracts.

“Queensland is rich with diverse and capable small businesses. However, there are barriers when competing for government contracts,” Ms Rohan said.

“Today’s announcement is a positive first step in removing some of those barriers, and shows the government is serious about doing business with SMEs.

“We welcome the reduced payment terms, however would like to see this lowered more significantly. Many businesses are restricted due to cashflow and tighter payment terms will alleviate that pressure.

“We have been calling for a procurement framework for some time, but it is now more essential than ever," Ms Rohan said.

“Putting policies in place to support and enable businesses to succeed is crucial and needed to see economic growth and job stability around the state,” she said.

In February, CCIQ wrote to all Queensland MPs outlining the need for a procurement framework and asked for their commitment to working with the business sector in creating one.

CCIQ’s procurement framework includes:

• Setting up an open procurement platform across all government agencies;
• Breaking up government tenders to smaller components so small businesses have more opportunities to supply goods and services;
• Simplifying government tender documents and assessments criteria;
• Implementing payment terms of 5 business days for small suppliers.

The Labor, LNP, Katter and Greens parties all responded with agreement and commitment on working towards this framework.

www.cciq.com.au

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