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Tuesday, 7 December 1976
Page: 3453

Mr Lloyd asked the Minister for Health, upon notice:

(   1 ) Further to question No. 23, how much has been or is to be paid to the vendor of the Fawnmac group of companies as his share of the 1 975-76 profit, and who is the vendor.

(2)   Will this be the final purchase payment, and will any director receive any additional payment relative to the financial performance of the company.

(3)   Is Mr Hemming the Manager and the Chairman of Directors; if so, what salary and other allowances does he receive in either of these positions.

(4)   What is the total payment made by the Government to Mr Hemming in capital, salary, allowance, profit share, etc., in the acquisition and administration of the group of companies.

(5)   What is the contractual arrangement between Mr Hemming and the Fawnmac group and the Government

Mr Hunt -The answer to the honourable member 's question is as follows:

(   1 ) $ 160,094-paid on 8 September 1976. The vendor was Fawnmac Industries Pty Ltd (name subsequently changed to Unitus Consolidated Pty Ltd).

(2)   The payment of $160,094 was the final payment for the purchase. No additional amount, other than normal salaries and directors fees, is payable to any director.

(3)   , (4) and (5) Mr Hemming retired from employment with the companies, and from the Board of Directors, in October 1976.

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