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Wednesday, 23 March 1994
Page: 2084

Senator WATSON (4.24 p.m) —Given that the government has now moved its own amendment, the opposition will not proceed with the circulated amendment. We must draw attention to the fact that one of the unintended victims would be the very large public company known as CSR because in the original wording the word was `paid'. There was a required time interval between the declaration of a dividend for stock exchange purposes and the payment of that dividend. So the inclusion of the word `declared' in substitution of the word `paid' seems to overcome the problem—an unintentional problem that was created for a number of companies that had declared but not paid dividends during that time interval. The government's amendments adequately address that process, and I thank the government for addressing the issue.

  Amendments agreed to.

  Clause, as amended, agreed to.