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Monday, 9 November 1964

Senator ANDERSON (New South Wales) (Minister for Customs and Excise) . - in reply - The provision in the Bill is not peculiar to this measure. It is a discretion included in a number of bounty acts. The background and the circumstances of companies concerned have to be closely examined. The amount paid for the year ended 30th . June 1963 for a period of nine months was £18,512 and to 30th June 1964, the payments totalled £61,746. It was estimated that the expenditure for 1964-65 to 30th September would be £53,000. Honorable senators will appreciate that this is an estimate because the final amounts are not paid until some time after the relevant period. As the Leader of the Opposition (Senator McKenna) has said, there is a profit limitation of 10 per cent. The bounty is £45 a ton.

Question resolved in the affirmative.

Bill read a second time.

In Committee.

The Bill.

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