Lee MelissaMELISSA LEE (National): Thank you very much Mr Speaker. As the last speaker from this side of the House I'd like to signal that I concur with my colleagues in opposing this bill. I'd like to commend the speeches that were actually made—particularly my colleague the Hon Michael Woodhouse who did almost a dissertation on this bill and the reasons why he has actually come to the conclusion of why we don't submit this. I don't intend to actually repeat some of the words that he said. I'd like to also congratulate Government members opposite who have actually dutifully done their full calls. I think it takes a lot of effort for a very tiny member's bill that literally says To avoid doubt in considering the best interests of a company or holding company for the purposes of this section a director may consider matters other than the maximisation of profit." That's literally it. I think the rule for members' bills often is that it has to be a small bill that it doesn't actually have—particularly for Government members—fiscal impact to the Government coffers and I think that's often the rule and we understand how members can be really passionate about this.But I just wanted to bring attention to what the Hon Duncan Webb who was the original sponsor of this bill said—that in this day and age forward-looking companies are already doing this; meaning that what he is actually wanting this bill to do is already doing this and what the bill asks for.One of the things that I just want to actually quote is from a stakeholder Chapman Tripp. It says "But we hope that the select committee will recommend Dr Webb's bill not proceed as it will achieve nothing useful." That was one of the comments. I can also quote other submissions but literally what they're all saying—not all but what they actually say is that the bill adds nothing to the existing law of directors' duties and is a virtue signal to the stakeholder theory of corporate governance.Even the Supreme Court has confirmed in a judgment that acting in the best-interest test is a subjective one that the director must act in what the director believes to be in the best interest of the company. Therefore there is no doubt that a director can under the current section take into account factors such as those in the bill that they believe is also in the best interest of the company.One of the things that Dr Duncan Webb has actually talked about was the bottom line; that people should think about the bottom line in context of things like social responsibility. I guess some of the things that he actually wanted to put in his bill were struck out by the select committee and actually we ended up with that last sentence that I quoted from the bill. But I wish this Government would think about the bottom line for this country when they are doing this because Labour has wasted so much money I wish they could—Ingrid Leary: Stick to the bill.MELISSA LEE: —actually think about the bottom line. Yes I am sticking to the bill because I'm quoting what Dr Duncan Webb has actually talked about: bottom lines. Apparently businesses only think about bottom lines; I wish the Government would think about the bottom line too that we create a country that is wealthier better kinder—think about our wellbeing for example is one of the things that he was talking about.One of the things that I am really concerned about is the fact that this bill is a pretty inoffensive bill it's a tiny bill and a lot of people have already said that it's a waste of Parliament's time. So I wish not to waste Parliament's time and I do not support this bill."