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NOTICES

Senator Reid: To move on the next day of sitting-That there be laid on the Table the document entitled ""Living by our Wits''.

Senator Hamer: To move on the next day of sitting-That leave be given to introduce a Bill for an Act to repeal Part VI of the Navigation Act 1912, so as to remove the obligation for ships to obtain a licence or a permit to engage in the coasting trade, and to repeal other sections of that Act which relate only to the coasting trade.

Senator Michael Baume: To move on the next day of sitting-That the Senate-

(a) notes the claim by the Minister for Finance (Senator Walsh) at Question Time on 16 April 1986 that the cost of forward foreign exchange cover by the Australian Broadcasting Corporation (ABC) to protect itself from the $12.8m loss it has suffered in the 1985-86 financial year ""may well have been more than $12.8m'';

(b) notes that most of the ABC's television program purchases are from the United Kingdom and that the cost of cover relating to the 53 per cent fall in the Australian dollar against the pound sterling over the past 15 months would have cost approximately 5 per cent, according to leading foreign exchange dealers in Sydney;

(c) recognises that the average cost of covering the ABC's American dollar risk over this period would have averaged about 7 per cent, so indicating that the cost of forward cover by the ABC for the period of the 1985-86 financial year up to January 1986, when the Department of Finance eventually allowed the ABC to take forward cover, would have represented only about 3 per cent exposure; and

(d) calls on the Minister for Finance to apologise to the Senate for his misleading and inaccurate response to Senator Michael Baume's Question without Notice on this matter on 16 April 1986.