The Government's draft legislation on short-selling will be put to a senate inquiry following its introduction into parliament last week.
The Senate has referred the Corporations Amendment (Short-Selling) Bill 2008 to the Standing Committee on Economics, for report by November 27, 2008.
The industry has been invited to provide submissions to the committee by November 20, 2008.
The bill will need to go through a detailed and thorough inquiry, opposition superannuation spokesman Chris Pearce said.
"The current bill has little detail that fully addresses the issues raised during the consultation process.
"Stakeholders who I have spoken with are very unhappy with its current form," he said.
Last week, the Government announced details of the bill which will place a blanket ban on short-selling.
Under the proposed legislation, ASIC will hold the power to impose regulations on transactions that are substantially similar to short-selling.
The regulator will also be able to grant exemptions from the naked short-selling prohibition, in the limited cases where non-speculative naked short sales are necessary to ensure the market operates efficiently.
