Mr Campbell asked the Treasurer, upon notice, on 28 October 1996:

(1) Is the Australian Securities Commission (ASC) in possession of evidence provided by Cambridge Gulf Exploration showing a share trading impropriety occurred and implicating Country Nat West.

(2) Is the ASC able to say whether Country Nat West has been shown the evidence.

(3) Has the ASC advised Cambridge Gulf Exploration or its lawyers that the complaint will be investigated; if so, is he able to say why Country Nat West says it is not under investigation.

(4) Has the WA Regional Commissioner of the ASC said that the Perth Office of the ASC is to be congratulated for its efforts; if so, to what efforts is he referring.

Mr Costello —The answer to the honourable member's question is as follows:

(1) and (2) I am advised that the ASC is conducting an investigation into matters connected with trading in securities of Cambridge Gulf Exploration NL. As the investigation has not yet been completed, it is inappropriate for me to comment on, or release information concerning particulars of, the investigation.

(3) I am advised that the ASC advised lawyers for Cambridge Gulf Exploration NL, by letter dated 12 April 1996, that it was going to commence an investigation. I do not propose to comment on why County Natwest may have said what it is reported to have said.

(4) I am advised that the answer is Yes. I am also advised that the then WA Regional Commissioner of the ASC, Mr Allen, was referring to the enforcement efforts generally of staff of the Western Australian Regional Office of the ASC since the ASC's inception in 1991.