Wood MichaelClause 4A New section 4A inserted (Transitional savings and related provisions)MICHAEL WOOD (Labour—Mt Roskill): I really jumped out of my box there just with a bit too much vim and vigour but that's the nature of this debate I think. I do want to come to this section inserted by clause 4A on the transitional savings and related provisions. This is an issue that's been touched on in a couple of contributions so far but I want to just develop that a little bit further and I will come to a question for the member in the chair Dr Parmjeet Parmar here again because I don't think we've quite got to the bottom of this. This is that really important issue about the transitional wording in terms of when this bill comes into effect. I just don't think we've quite as a committee got to the point where we have absolute clarity about why we've landed where we've landed in terms of this section.So if we go to Schedule 1AA and I'll just pull that out here what we find—sorry Madam Chair I've just got my papers a little bit out of order here—if we come back to the report of the Governance and Administration Committee is that we've still got quite an unusual situation going on here in terms of when this bill actually comes into effect. We've had a number of questions here. We haven't quite had them answered in terms of why we've landed where we have with that bill. There's a particular reference—again I'm sorry Madam Chair I'm just trying to find the wordings here—to five months. When we actually go to the wording that's in 1AA—yeah here we go. In Schedule 1AA Part 1 and I'll just go to it—this is in Part 1 clause 2(2) and it goes This Act as amended by section 6 of the 2019 Amendment Act applies to the following financial years of the Funding Board: (a) financial years beginning after the commencement date of the 2019 Amendment Act;"—OK—"(b) the financial year beginning—(i) on that commencement date; or (ii) before and ending on or after that commencement date; and (c) any financial year ending on or in the 5-month period before that commencement date."I'm really not at all clear why it is and what the advice is that's landed on five months there and I think this goes to some of the broader issues that have been canvassed by members on this side of the Chamber just about some of the lack of clarity in terms of when entities are actually going to be reporting under the terms of this bill. I've touched on the point before that we've got the slightly unusual situation in which it can kick in during a financial year and not between the end of one and the start of the other which I would've thought was a more normal and rational and cleaner way of doing it. Then we've got the second point about a five-month period before the commencement date kicking in—so just clarity on that: why that is where the advice about five months has come from and again coming back to that core point about why we seem to have a slightly more convoluted set of commencement arrangements here than would be normal in a bill like this which is dealing with important affairs relating to the reporting standards of entities like these ones.I just make this point again that in terms of the reporting standards that we're applying here through this bill we're talking about entities that deal with a lot of money that's supplied by the public and we need to make sure that it's done well. So if the member could address those I'd be very grateful. Thank you."