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Thursday, 1 September 1994
Page: 753

Senator MICHAEL BAUME —I give notice that, on the next day of sitting, I shall move:

  That the Senate—

  (a)notes that:

    (i)a foreign company, JGL Trading Pte of 1 Colombo Court, Singapore, is shown in a return filed in the week beginning 28 August 1994 with the Australian Securities Commission to have paid $2.6 million on 8 July 1994 to acquire an interest in the piggery holding company, Euphron Pty Ltd, formerly half-owned by the Prime Minister (Mr Keating),

    (ii)Mr Keating's nominee as a director of Euphron Pty Ltd, Mr Coudounaris, who is secretary of Mr Keating's family company, Pleuron Pty Ltd, continued as a director of Euphron Pty Ltd for 4 months after Mr Keating says he `disposed' of his shares on 7 March 1994, until replaced on 8 July 1994, the same day as the JGL acquisition, by a Hong Kong resident, Mr Bradley Fraser Kerr, and

    (iii)Mr Keating has never revealed how much money he received in payment for his `disposal' of his half-ownership of his piggery group that had cost him $430,100 in borrowed funds, based on his own remark that he had `hocked' his expected parliamentary superannuation payout to provide the finance needed; and

  (b)calls on the Prime Minister to reveal how much he was paid for his half-ownership in order to assure the Parliament that its disposal, after his piggery group had lost multi-millions of dollars under his proprietorship, did not put him under any obligation to anyone, foreign-based or local, for rescuing him from this politically and financially unwise investment, and in particular, seeks an assurance that this $2.6 million does not represent, in whole or in part, a payment to him, either directly or indirectly, for his interest, does not involve any off-shore tax avoidance vehicle and does not put him in any position for a potential for conflict of interest.