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Thursday, 1 December 1960

Mr JONES (NEWCASTLE, VICTORIA) - My question is directed to the Postmaster-General. Is it true that Electronic Industries Limited, the foreign owners of television station GTV9, has sold the station for a capital tax-free gain of £3,200,000? Is there an anomaly in the act that allows this company to make this exorbitant, tax-free capital gain? Will the Minister consider amending the act to provide in similar circumstances for the licence to be withdrawn and re-issued?

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