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Wednesday, 13 May 1981
Page: 2322


Mr MOORE (Minister for Business and Consumer Affairs)(5.20) —The amendments are not acceptable to the Government. I do not accept the proposition that subsidiary companies are necessarily set up to defraud creditors. I spoke last night on the question of creditors and I mentioned then that I do not understand how people can be left holding the bag, as it were, in the case of a subsidiary company if they have made due inquiry. If someone trades in a risk position, having failed to make due inquiry, I do not know how that person can complain about the Companies Act.

Clause agreed to.

Clauses 8 to 11-by leave-taken together, and agreed to.

Clause 12 (Power of Commission to require production of books).