National Broadband Network Companies Amendment (Commitment to Public Ownership) Bill 2024
The PRESIDENT (23:03): I will now deal with the Committee of the Whole amendments, starting with the amendments circulated by the Australian Greens. The question is that the amendments on sheets 3237 and 3243 be agreed to. Australian Greens' c irculated amendments— SHEET 3237 (1) Schedule 1, item 1, page 3 (line 7), after paragraph 3(1)(b), insert: ; (c) to ensure that NBN Co has a universal service obligation to provide the national broadband network in a way that is reasonably accessible to all people in Australia on an equitable basis, wherever they reside or carry on business.
(2) Schedule 1, item 12, page 4 (after line 22), after the paragraph beginning "Under provisions" in section 43, insert: ‚ NBN Co has a universal service obligation to provide the national broadband network in a way that is reasonably accessible and equitable to all people in Australia. (3) Schedule 1, item 13, page 5 (line 7), at the end of section 43A, add: ; and (c) NBN Co has a universal service obligation to provide the national broadband network in a way that is reasonably accessible to all people in Australia on an equitable basis, wherever they reside or carry on business. _____ SHEET 3243 (1) Page 6 (after line 22), at the end of the bill, add: Schedule 2 — Remuneration amendments National Broadband Network Companies Act 2011 1 Section 5 Insert: annualised average weekly earnings: see subsection 92B(2). remuneration cap: see subsection 92B(1). reporting period has the same meaning as in the Public Governance, Performance and Accountability Act 2013. senior executive: see subsection 92C(2). 2 After Part 6 Insert: Part 6A — Remuneration of senior executives Division 1 — Simplified outline 92A Simplified outline The following is a simplified outline of this Part: ‚ This Part imposes requirements on NBN Co that relate to the remuneration of senior executives.
This Part also imposes reporting requirements on NBN Co. Division 2 — Remuneration of senior executives 92B Definitions In this part: (1) The remuneration cap for a senior executive of NBN Co for a period starting in a reporting period is the amount worked out using the formula: n umber of days in the period x 5 x AAWE n umber of days in the reporting period where: AAWE means the annualised average weekly earnings for the reporting period for NBN Co.
(2) The annualised average weekly earnings for a reporting period for NBN Co is the amount worked out using the formula: number of weeks in the reporting period x AWE where: AWE (short for average weekly earnings)means the amount published by the Australian Statistician in a document titled "Average Weekly Earnings" under the headings "Average Weekly Earnings, Australia—Original—Full-time adult average weekly total earnings" (or, if any of those change, in a replacement document or under replacement headings) for the most recent index reference period before the start of the reporting period. 92C Remuneration of senior executives (1) Despite any other Act, NBN Co must not pay a senior executive remuneration for a period (the pay period) that would result in the total remuneration of the senior executive for the pay period exceeding the remuneration cap for the pay period.
(2) A person is a senior executive of NBN Co if the person is: (a) a director or secretary of NBN Co; or (b) a person (other than a director or secretary, a Minister, or an APS employee engaged as an employee for the purposes of a Commonwealth entity or Commonwealth company other than NBN Co) who: (i) makes, or participates in making, decisions that affect the whole, or a substantial part, of the operations of NBN Co; or (ii) has the capacity to affect significantly NBN Co's financial standing.
Division 3 — Reporting requirements 92D Reporting on remuneration The annual report prepared by NBN Co under section 46 of the Public Governance, Performance and Accountability Act 2013 for a reporting period must include a statement setting out, for each senior executive of the entity: (a) the total remuneration for the reporting period; and (b) the ratio of the total remuneration for the reporting period to the annualised average weekly earnings for the reporting period; and (c) the ratio of the total weekly remuneration at the end of the reporting period to the national minimum weekly wage set by a national minimum wage order (within the meaning of the Fair Work Act 2009) that is in operation at the end of the reporting period. 3 Application (1) In this item: amended Act means the National Broadband Network Companies Act 2011 as amended by this Act. commencement time means the time at which this Schedule commences.
(2) If an arrangement in relation to remuneration between NBN Co and a senior executive of NBN Co is in force immediately before the commencement time, section 92C of the amended Act does not apply in relation to the senior executive until the arrangement expires or is terminated. (3) If: (a) immediately before the commencement time, a senior executive of NBN Co has a statutory entitlement to remuneration from NBN Co; and (b) after the commencement time, NBN Co would, apart from this subitem, contravene section 92C of the amended Act by paying the remuneration in accordance with the entitlement; that section does not apply in relation to the senior executive until the senior executive ceases to have the entitlement.