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Thursday, 24 May 1973
Page: 2633


Mr NIXON (Gippsland) - I move-

Omit paragraph (c) of proposed sub-section (2). Section 34 of the principal Act provides that moneys of the Commission that are not immediately required for the purposes of the Commission may be invested in several ways. Under the provisions of clause 15, paragraph (c) reserves may be invested in any other manner approved by the Treasurer. My nervousness in regard to paragraph (c) stems from the concernI feltthat Trans-Australia Airlines, which may have substantial reserves built up, could use those reserves to the disadvantage of hotel owners, motel owners, road transport operators or public road transport operators who have shares on the market, by buying those shares in large lumps. I have had discussions with the Minister for Transport and I understand that this is not envisaged. If the Minister could make some comment on this aspect I might deal with the amendment in some other way.







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