Independent Senator Rex Patrick’s attempt to quash Treasurer Josh Frydenberg’s changes to proxy adviser regulations has suffered a near fatal blow with One Nation leader Pauline Hanson indicating it was not a priority in the final sitting days of this term of Parliament.

Senator Patrick needs support from One Nation and either independent Jacqui Lambie or the Centre Alliance’s Stirling Griff for a disallowance motion to be voted on in the Senate against the new regulations on February 10. Labor and the Greens have flagged their support, as has Senator Griff.