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Thursday, 5 December 1974
Page: 4697

Dr EDWARDS (Berowra) - I refer to clause 2 which reads:

This Act shall come into operation on the day on which it receives the Royal Assent.

I move:

At the end of the clause add the following sub-clause:

(2)   This Act shall not remain in force after 30 June 1975. and shall be deemed to have been repealed on that day by un Act other than this Act.

This proposed new sub-clause is similar to that which is in the Companies (Foreign Take-overs) Act which was renewed only recently. The amendment underlines the interim character of the measure. I think the remarks of the Minister for Manufacturing Industry (Mr Enderby) underlined that very point. He said that he intends in the near future to develop the structural adjustment program by the establishment of a board and so on. This is what we are seeking.

I stress that in moving the amendment in these terms the Opposition supports the thrust of this Bill. In his second reading speech the Minister said: . . . in most cases structural adjustment can be left to occur naturally as a continuing process of adaptation by individual firms.

I think we have a firmer conviction about that than he does. But the difficulty is that we are in a situation which is not normal and in which particularly strong measures have been taken. In these circumstances the necessity for this Bill is doubled. It is a desirable measure in any case. But the point that we stress is that the Bill puts an unwarranted load on the Minister's shoulders. He has conceded that and has said that he wants to remove the load as quickly as possible. The purpose of this amendment is simply to underline this point, to underline the interim character of the measure. We hope that the Minister will proceed in the way he has suggested.

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