Commonwealth of Australia Explanatory Memoranda

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TREASURY LAWS AMENDMENT (PROHIBITING ENERGY MARKET MISCONDUCT) BILL 2019

                            2019



 THE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA




                          SENATE




TREASURY LAWS AMENDMENT (PROHIBITING ENERGY MARKET
               MISCONDUCT) BILL 2019




     SUPPLEMENTARY EXPLANATORY MEMORANDUM



      Amendments to be moved on behalf of the Government




                 (Circulated by authority of the
            Treasurer, the Hon Josh Frydenberg MP)
AMENDMENT 1 -- ARRANGEMENTS OR UNDERTAKINGS IN RELATION
TO EMPLOYEES
       1.1      The amendment adds a new section 153ZBA at the end of
       Division 6 of the new Part XICA that the Bill inserts into the Competition
       and Consumer Act 2010 dealing with the electricity industry.
       1.2       Section 153ZBA enables regulations to be made to ensure that,
       when a body corporate disposes of assets under a divestiture order, the
       entity to which the assets are disposed of must comply with arrangements
       or undertakings that were made by the body corporate in relation to its
       employees and that satisfy requirements set out in the regulations.
       1.3       The entity to which the assets are disposed of must comply with
       the arrangements or undertakings. This obligation operates despite
       anything in the Fair Work Act 2009.
       1.4       These Amendments do not present any financial impacts to that
       reported in the Revised Explanatory Memorandum.
       1.5        The amendment does not engage and is therefore compatible
       with the human rights and freedoms recognised or declared in the
       international instruments listed in section 3 of the Human Rights
       (Parliamentary Scrutiny) Act 2011.