What was debated in Parliament
Summarised using AI from the official Hansard transcript of the debate only. It is not a record of the debate and may leave things out. Read the Hansard below to check it.
This bill lets the Treasurer declare 'exceptional circumstances', such as the fuel crisis linked to the conflict involving Iran, so the ACCC can quickly allow businesses to work together in ways competition law would normally ban. It also sets much higher penalties for breaking the Oil Code of Conduct. The debate focused on whether the new powers were needed, how much parliament could oversee them, and why they could apply back to 1 April 2026.
Arguments made in support
The Government said the current approval process is too slow, noting COVID-era supermarket approvals took months, and the new powers let businesses act early to prevent shortages.
Government members said the Treasurer's declaration can be disallowed by parliament and lasts six months, with time-limited extensions.
Supporters said penalties of up to $10 million or more would stop fuel companies treating breaches as a cost of doing business.
The Greens supported the bill and won an amendment making ACCC class exemptions disallowable by parliament.
The Government said the ACCC supported the bill and that the backdating covers coordination meetings held since the conflict began.
Arguments made against, or for changes
The Coalition said existing ACCC powers worked during COVID, with some approvals given in under 24 hours, so new powers were not shown to be needed.
Coalition and One Nation senators said the Treasurer's power is not limited to the fuel crisis and is permanent, with no sunset date.
Opponents questioned the backdating to 1 April, saying it could excuse possible anticompetitive conduct by fuel companies early in the crisis.
Opposition speakers objected that the bill was rushed without a committee inquiry and that exemptions need only be published within seven days.
Independent Helen Haines said she was not convinced the bill was proportionate and could not support it without more scrutiny or changes.
53 speeches by 27 members in the Senate and House over 3 sitting days.
Hansard: Senate, 13 May 2026 ›
The official Hansard (PDF), Parliament of Australia
Hansard: Senate, 14 May 2026 ›
The official Hansard (PDF), Parliament of Australia
Hansard: House of Representatives, 25 May 2026 ›
The official Hansard (PDF), Parliament of Australia
Australia's Voice
0 Yes
0 No
1–
The last column counts members who did not vote. Party counts are for current members.
2 votes were cast by people who have since left Parliament.
Every party member who voted went with the majority of their party.