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Thursday, 1 April 1965

Senator PALTRIDGE (Western Australia) (Minister for Defence) . -In the event that a revocation occurs, the insurance of any loans outstanding made by a lender whose approval has been revoked will continue to operate; in other words, protection will be extended by a continuation of the insurance. Revocation of approval might be attracted by such things as the selling up of a borrower without the approval of the Corporation or a deliberate misstatement of fact in respect of any transaction. Actions of that type would attract revocation.

Question put -

That the words proposed to be left out (Senator Wright's amendment) be left out.

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