Mr JOHN BROWN(5.19) — To wind up the Opposition's objections to this clause, we believe that the definition of subsidiary and holding companies is crucial to many other clauses of the Bill. For example, in regard to accounts, group accounts must be prepared for subsidiaries, and that is a reference to clauses 269 to 272. However, the Bill goes only part of the way towards dealing with the reality that holding and subsidiary companies act as a unit and are not separate entities. Creditors can be disadvantaged since a holding company need take no steps to bail out the creditors of its insolvent subsidiary-that is a vital attribute as far as we are concerned-and employees can also suffer for the same reason. I instance the case of Massey Ferguson, a company which crashed in Australia a few years ago, which was a subsidiary of a Canadian holding company. The Canadian company made no effort at all to bail out the Australian subsidiary and left creditors, employees, et cetera, lamenting. So we would strongly urge the Minister to see that some reforms can be made in this area in future through the Ministerial Council so that this whole subject of subsidies, holding companies, trust companies, et cetera, is ironed out and made much more specific.