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Tuesday, 3 December 2002
Page: 7043

Senator MURPHY (7:43 PM) —I would like to ask the minister a question with regard to what Senator Nettle's amendment proposes. I asked a question of Senator Minchin, representing the Minister for Industry, Tourism and Resources, about the National Stem Cell Centre. The answer with respect to the National Stem Cell Centre and the issue of conflict of interest states:

The Centre must warrant that at the signing of the Deed, no conflict or risk of conflict of interest is likely to arise in the performance of its obligations.

The Centre must disclose in writing prior to the signing of the deed if any conflict of interest exists.

Thereafter, the Centre must notify the Commonwealth if any conflict of interest arises during the term of the contract.

The Commonwealth is entitled to ask the Centre to resolve any such conflict of interest.

If the Centre does not notify the Commonwealth on any conflict of interest or it fails to resolve the conflict of interest, as required by the Commonwealth, the Commonwealth may terminate the Deed.

That itself poses a lot of questions. If you terminated the deed, what would happen to things like intellectual property et cetera? Who would they belong to? Does anything in the bill actually deal with the issue of conflict of interest?