Senate

Revised Explanatory Memorandum

(Circulated by authority of the Minister for Justice and Customs, Senator the Honourable Amanda Vanstone)

Financial impact statement

It is not possible to assess what impact the Bill will have on Commonwealth expenditure or revenue except that it should be positive. This is because the Bill will contribute to a simplification of the law, greater national consistency and deterrence of those who might consider committing theft, fraud, bribery and related offences because it provides for higher penalties and more comprehensive provisions. The crimes covered by this Bill cost the Commonwealth significant resources.