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Wednesday, 11 November 1914

Senator KEATING (Tasmania) .- I move-

That the words " by publio auction " be left out.

As the clause stands, the sale must be by public auction. I would make it. competent for the trustee to sell if desirable by private contract. In many -instances a sale by public auction means a sacrifice. In some instances tenders are called, and it would be desirable to leave the matter open.

Senator Lt.-Colonel Sir ALBERTGOULD (New South Wales) [9.34].- The general idea has always, been that public, auction gives much greater safety and security,' and prevents the property being disposed of privately without full knowledge tb "the "detriment of the estate and the creditors." Senator Heating's object might be. attained by adding after " public auction " the words " or public tender." If neither of those methods succeeded the Court might allow the trustee to enter into private negotiations. The utmost publicity is always desirable in these, matters.

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