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Wednesday, 16 November 1927

Senator HERBERT HAYS (Tasmania) . - I move -

That after the words " Governor-General," sub-section 1, the words "on the advice and with the concurrence of the Board of Management " bo inserted.

Senator Grant - The words " and with the approval of Parliament " should also be added.

Senator HERBERT HAYS - There is no need for that. If the change had to be sanctioned by Parliament, inquiry could be made to ascertain whether the Commonwealth Bank Board had been consulted.

Senator Verran - What is the reason for the amendment?

Senator HERBERT HAYS - As the result of a consultation with the Commonwealth Bank Board, the Government has reversed its decision of a few days ago. Instead of a commission, it now proposes that the Commonwealth Bank Board shall control the savings bank business. The Government may again change its opinion, and, without consulting that board, transfer the business to a commission. It is only right that the concurrence of the board should be obtained before the business under its control is transferred to another body.

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