Joe O'Toole (Independent)

In thanking the Minister for her comprehensive response, I gently point out that she is wrong on all points. Some of the Minister's comments were embarrassing. I also point out to my colleague, Senator Ryan, that I used the words "form a judgment" to explain how the legislation would work and they do not feature in the Bill.

In his response to the Company Law Review Group, the Director of Corporate Enforcement described as unnecessary the proposal that a company may rely, at the director's discretion, on internal or external advisers to secure compliance. The Minister has adopted a position in support of the Company Law Review Group's proposal to allow the use of external and internal advisers. I concur with the view of the Office of the Director of Corporate Enforcement that such a measure would institutionalise heavy advisory costs. Those who are telling the Minister they do not want the provision in my amendment included in the legislation are the same companies which will supply consultants to ensure compliance. I share the Director of Corporate Enforcement's view that directors should make up their own minds and should not spend money on advisers.

What did the Minister mean when she cited the examples of environmental and health and safety issues and the pharmaceutical sector? She appears to believe companies involved in these areas are not compliant. There is no other way to explain the implication in her statement that directors do not take responsibility for abuse of health and safety or environmental laws.