Independent Rob Oakeshott has confirmed he will accept the role of speaker in the House of Representatives if nominated by another MP.
In a statement released on Wednesday, Mr Oakeshott said he had made the decision in the wake of a series of parliamentary reforms, which he spearheaded, being agreed to by Labor and the coalition.
"In light of parliamentary reforms that will allow greater participation in constituency issues from the speaker's chair ... if nominated by a fellow MP I would accept that nomination when parliament returns on the 28th September," Mr Oakeshott said.
An agreement on pairing rights, giving the speaker a casting vote and allowing participation in private member's business were crucial factors in the decision, he said.
"I am aware 149 other parliamentary colleagues have a say in who is to be the speaker in the next Australian parliament, and in the end, I accept the collective view either way."
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Mr Oakeshott last week committed his support to Labor, helping Prime Minister Julia Gillard form a minority government.
He turned down an offer from Ms Gillard to take up a position in a new ministry dedicated to regional Australia.
Mr Oakeshott has also indicated he will not change sides after Opposition Leader Tony Abbott said he would try to turn the Member for Lyne and other key independents.
While he welcomed the coalition's commitment to revisit its broadband policy, Mr Oakeshott said he had an agreement with Labor to guarantee supply and confidence.
He would only withdraw support in the event of maladministration, corruption or if Labor reneged on agreement to boost support for regional Australia.
"There are a range of issues that allowed me to draw my conclusions on what was a difficult choice," he told ABC Radio.
"Broadband was one but only one of many. So if this is the first attempt by Tony Abbott I welcome it."
