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Tuesday, 23 June 1998
Page: 3858

Senator IAN CAMPBELL (8:39 PM) —In principle this is a sound idea, and what we intend doing, and now commit to do, is to place this requirement in the regulations which will be subsidiary to this law. The additional point which we made privately, and which I am happy to put on the record, is that we believe that the 1022 prospectus requirements of the Corporations Law would already require this sort of information to be made available, but we are happy, belt and braces, to put this into the regulations to make sure that is the case.

Senator Cook —Which regulations?

Senator IAN CAMPBELL —The regulations which will flow from this bill, I think. I am informed that that is already in regulation 7.12.12—I had better get my numbers right or Senator Margetts will get cranky. The regulations which will flow from this bill, according to my advisers, will add a requirement to regulation 7.12.12. Based on that, we would be opposing this amendment, because we believe it should be covered in regulations.