The Senate has passed one of the Coalition government's key bills targeting unions with the support of every crossbencher except the Tasmanian Jacqui Lambie, in a marathon session that extended until just after 2am on Tuesday morning.

The Fair Work (Registered Organisations) Amendment Bill 2014 passed the senate 33-30 at 2.13am having been rejected twice by the last Parliament.

It fulfils one of the Coalition's key promises made by former Prime Minister Tony Abbott ahead of his election success in 2013 and in the wake of the Health Services Union corruption scandal.

The passage of the legislation means unions will be subject to the same regulations required of corporations. A new regulator, the Registered Organisations Commission, will oversee unions instead of the Fair Work Commission.