On 20 October 2021, Senator Urquhart, at the request of Senator Pratt and pursuant to notice of motion not objected to as a formal motion, moved business of the Senate notice of motion no. 3—That the following matter be referred to the Economics References Committee for inquiry and report by 1 December 2021:
Sterling Income Trust, with particular reference to:
- the Australian Securities and Investments Commission’s oversight of the Sterling Income Trust;
- the need for legislative and regulatory reform to prevent such losses in the future;
- access to justice and redress for victims of the Sterling Income Trust Collapse;
- the novelty of the products of the Sterling Income Trust;
- why the scheme collapsed and where the money went; and
- any related matters.