Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document

TRADE PRACTICES (TRANSFER OF MARKET DOMINANCE) AMENDMENT BILL 1986

The Senate, according to Order, resolved itself into Committee for the further consideration of the Bill.

In the Committee

Bill further considered.

Senator Siddons moved an amendment, viz: Page 2, clause 3, proposed new sub-section 50 (2C), at end of proposed sub-section, add "", unless, in the case of an acquisition of shares-

(c) a Part A statement within the meaning of the Companies (Acquisition of Shares) Act 1980 or of a corresponding law of a State or Territory in respect of that acquisition of shares by that person was lodged with the National Companies and Securities Commission in accordance with that Act or such a law before the day on which the Trade Practices (Transfer of Market Dominance) Amendment Act 1986 received the Royal Assent; or

(d) such a Part A statement in respect of an acquisition of shares by that person in a body corporate is so lodged within 6 months after that day, and a Part A statement in respect of an acquisition of shares by that person in that body corporate was so lodged in the circumstances referred to in paragraph (c).''.

Debate ensued.

Question-That the words proposed to be added be added-put.

The Committee divided-

AYES, 6

Senators- Chipp Macklin (Teller) Mason Sanders Siddons Vigor

NOES, 49

Senators- Archer Aulich Baume, Michael Baume, Peter Black Bolkus Brownhill Carrick, Sir John Childs Coates Coleman Cook Cooney Crowley Devlin Durack Elstob Evans Foreman Georges Giles Guilfoyle, Dame Margaret Hamer Jones Kilgariff Knowles Lewis MacGibbon McIntosh McKiernan Maguire Messner Newman Parer Puplick Ray Reid (Teller) Reynolds Robertson Ryan Sheil Short Tate Teague Townley Vanstone Watson Withers Zakharov

Amendment negatived accordingly.

Bill agreed to.

Bill to be reported without amendment.

The Acting Deputy-President (Senator Jones) resumed the Chair; and the Chairman of Committees (Senator Hamer) reported accordingly.

The Minister for Resources and Energy (Senator Evans) moved-That the Report from the Committee be adopted.

Senator Siddons moved an amendment, viz: Leave out all words after ""That'', insert ""the Trade Practices (Transfer of Market Dominance) Amendment Bill 1986 be referred to the Standing Committee on Constitutional and Legal Affairs''.

Debate ensued.

Question-That the words proposed to be left out be left out-put and negatived.

Amendment negatived accordingly.

Main Question agreed to.

On the motion of Senator Evans the Bill was read a third time.