Mr CREAN —My question is to the Prime Minister. Is the Prime Minister aware that Senator Parer yesterday told the Senate in relation to his Pan Australian interests:

I have no knowledge whatsoever of any investments. . . I had no record of any investments in Pan Aust—

a fairly familiar term for someone who does not know anything about the company—

I did not know about it.

Is the Prime Minister aware that on 17 November 1995, five months before he became minister, the senator chaired a meeting of QCMM and involved himself in the detail of disposal by QCMM of Terra Firma interests to Pan Australian? Is he also aware that the discussion on the disposal involved Bob Bryan, current chair of Pan Australian, and that the meeting determined a continued role for QCMM and Kiskin in Pan Australian? How could Senator Parer claim ignorance of his interests in Pan Australian, and hasn't he misled the Senate yet again?

Mr HOWARD (Prime Minister) —The situation is that I have been informed that the shares held by QCMM (ESP) were disposed of before Senator Parer became a minister. I repeat: they were disposed of before Senator Parer became minister. Is the member for Hotham claiming that somebody who became a minister in March 1996 is in some way to be criticised for a commercial interest he may indirectly have had—

Mr Crean —I raise a point of order, Mr Speaker. My point of order is this: my question was specific about his misleading of the Senate—

Mr SPEAKER —The Prime Minister is within the standing orders. The honourable member will resume his seat.

Mr Crean —And I would ask you to ask the Prime Minister to answer that question.

Mr SPEAKER —The honourable member for Hotham will resume his seat.

Mr HOWARD —No amount of flustered hectoring from the member for Hotham can alter the fact that you owe the parliament an explanation as to why you made a false allegation. You owe the parliament an explanation. My advice is that those shares were sold before he became a minister.

Mr Crean —Mr Speaker, I raise a point of order.

Mr SPEAKER —I trust this is a relevant point of order. The honourable member for Hotham on a point of order.

Mr Crean —Mr Speaker, my point of order is this—

Honourable members interjecting—

Mr SPEAKER —When we have some silence, I will hear you.

Mr Crean —The Prime Minister is arguing—

Mr SPEAKER —The honourable member for Hotham will wait until I have called him. The honourable member for Hotham.

Mr Crean —Thank you, Mr Speaker. The point of order is this: the Prime Minister is saying I owe the House an apology.

Mr SPEAKER —What is your point of order?

Mr Crean —I have sought to table the document—

Mr SPEAKER —That is no point of order. Resume your seat.

Mr Crean —showing the shareholding—

Mr SPEAKER —The honourable member for Hotham will resume his seat.

Mr Crean —and he—

Mr SPEAKER —I warn the honourable member for Hotham.

Mr HOWARD —Noise is no substitute for substance. According to my advice, these shares were sold in 1995, before Senator Parer became a minister. As to what Senator Parer said in the Senate yesterday, I will have a look at what Senator Parer said. I have long since learnt not to take the word of the member for Hotham for what somebody says in another chamber.