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Monday, 9 May 1994
Page: 438

Senator SCHACHT (Minister for Small Business, Customs and Construction) (4.20 p.m.) —Because, as I just explained, the AIDC proposal in the bill, as submitted some weeks ago, was to carry out a previously announced government decision to reduce the public ownership of AIDC from around 80 per cent to 51 per cent. As announced a couple of weeks ago, the government view is that the AIDC should be sold completely. Therefore, it would have been inappropriate, or a non sequitur, to amend the bill now and then in the near future introduce another bill to complete the whole sale. So the government thought it best not to proceed with that amendment and to have the debate about the level of ownership of the AIDC in its total form when the government proceeds with that legislation.