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Wednesday, 9 March 1932

Mr BEASLEY (West Sydney) . - I move -

That the word " thirty-two," sub-clause 1, be omitted with a view to insert in lieu thereof the word " thirty-three."

The purpose of my amendment is to counteract the obvious discrimination that this bill seeks to exercise. Provision is made for the retrospective action of this legislation in order that the Commonwealth Government may thwart the intention of the Government of New South Wales, which is about to introduce a measure providing that insurance companies carrying on business in that State shall lodge deposits with the Government. Discrimination is shown by allowing other States, which now hold deposits from insurance companies, to retain those moneys. Obviously that is a necessary step, because those governments have already expended those moneys. We have heard a good deal about this bill bringing about uniformity in insurance legislation. That, of course, is a myth. The measure is designed to discriminate against the State of New South Wales, and it will act to the detriment of that State if it really has force of law, which remains to be proved. My amendment, if accepted, will make the application of the bill uniform.

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