Senator FORSHAW(1.44 p.m.) —As my colleague Senator O'Brien has said, whilst tax is not specifically dealt with in this bill, it is essential that this issue be resolved. That is what the growers have said.

What is happening is that the growers' funds that are currently in the wheat industry fund will now become the capital base for the new companies. People are entitled to know, in advance of that process commencing, what the taxation arrangements will be down the track when those funds are converted to shares in the company. Growers have a right, as we know, to seek to withdraw some or all of their funds from the wheat industry fund at any time.

Senator Troeth, you have indicated that there will be a meeting. I have to say that it just reinforces the argument we put in the second reading debate that these issues have still not been resolved. People were led to believe that they were on the verge of being resolved. Senator Murray made the technical point that apparently he received communication prior to or at the time of the second reading debate and has not received any since. The issues that were drawn to his attention at that time, and to the attention of all senators, included having the tax liabilities issue clarified. It still has not been clarified. So, Senator Murray, nothing has changed in respect of the position and the reasons why the grower organisations that wrote to you and to us were seeking that deferral.

I certainly have not been advised by either the Western Australian Farmers Federation or the New South Wales Farmers Association, who represent the bulk of the interests here, that they have changed their position. The only group that I can see which has changed its position on this legislation to any extent is the Australian Democrats.

Senator Troeth, you have partly answered the second question I asked, but it would assist if you would be more specific as to when the second tranche of the legislation will be brought into the parliament. I understood from the Senate committee hearing that it was to be in the first half of next year. Certainly we would like to know, and I am sure that growers and others affected by this legislation would like to know, precisely when that will be.