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Monday, 18 October 1999
Page: 9803


Senator CONROY (1:55 PM) —I perceive a flaw in some of Senator Murray's suggestions. Could I simply make the point that your (R8), (9) and (10) do not achieve the same as (7). I want to make it clear that we will be supporting this as a second-best option. Even under your enhanced protections, I believe this to be seriously flawed. The parliament will live to regret this when some spiv investment adviser with a very shonky project takes to the cleaners some poor worker whose retirement income happens to pass the tests that you are setting. We will all live to regret people losing their retirement incomes because of the changes that you have allowed today. Madam Temporary Chair, per your advice, I seek leave to postpone amendment 27.

Leave granted.