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Thursday, 20 November 1941

Senator KEANE - On the 13th November, 1941, Senator Arthur asked the Minister representing the Treasurer the following questions, upon notice: -

1.   Is it a fact that subscribers of large amounts to the war loan, when applying direct to the Commonwealth Bank, attach to their applications lists of brokers with the advice that such brokers are to be paid brokerage, notwithstanding that such brokers have no connexion with the application?

2.   Is it a fact that the Australian Mutual Provident Society follows this practice?

The Treasurer has supplied the following answers : - :

1.   To be eligible for payment of brokerage brokers must lodge loan applications personally with the Commonwealth Bank. No brokerage is paid on applications lodged direct with the bank by persons other than brokers.

2.   See answer to No. 1.

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