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Thursday, 8 April 1965

Senator PALTRIDGE (Western Australia) (Minister for Defence) . - I apologise for being a little at a loss to understand what the honorable senator is putting. My loss of appreciation probably springs from the fact that he is interpreting the word " save " differently from the way in which it is defined in the Act. The word " save " in the Act means simply the holding of money or the refraining from the spending of money. As I understand the honorable senator's remarks, if an eligible person during the period of seven years prior to his prescribed date saves, say, ?750 in the first three or four of those seven years and then for three years does not increase those savings, the fact that he has held those savings for three years constitutes saving in the terms of the Act.

Clause agreed to.

New clause 6a.

Motion (by Senator Cavanagh) proposed -

That the following new clause be inserted: - " 6a. Section15 of the Principal Act is amended -

(a)   by omitting from sub-section (2.) the words 'as at a time before the prescribed date' and inserting in their stead the words ' on, or at a time before, the prescribed date ' and

(b)   by omitting sub-section (3.).".

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