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Tuesday, 7 December 1965

Mr KILLEN (Moreton) .- I have a query about new capital. I hope that the Attorney-General will be patient with me, but frankly I do not understand why new capital should be singled out. We could get to absurdities. We could have £1 million of old capital which is open to challenge and examination by the Tribunal and £1,000 worth of new capital which is out--

Mr Snedden - I am proposing to omit the criterion of capital.

Mr KILLEN - Could the AttorneyGeneral take my comments with respect to the extension of the venture. I think this is merely a new form of words.

Mr Snedden - No.

Mr KILLEN - Does the AttorneyGeneral not see it in that light at all?

Mr Snedden - No.

Mr KILLEN - I submit that it is open to question in relation to clause 61 (2.) (a) (i) relating to the extension of the venture. New capital could be involved in this and I fail to see why new capita] should be entitled to these exemptions.

Amendment agreed to.

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