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Thursday, 25 October 1973
Page: 1490


Senator James McClelland (NEW SOUTH WALES) - I cannot avoid the opportunity of a little ironical aside as to the sincerity of honourable senators on the other side of the chamber about the imposition of penalties. Senator Greenwood has just stated that section 153a, which clause 62 seeks to remove from the Act, is an essential part of the machinery of the imposition of penalties. 'After all if you are going to pursue the resources of an organisation', he would say, 'you would have to know where its money is'. I suppose that was an urgent consideration of the Government of which Senator Greenwood was a member. I want to draw Senator Greenwood's attention to an important part of the Bill that was assented to on 2 June 1972, which says:

An organisation shall, as prescribed, lodge with the Registrar

(a)   the prescribed particulars of financial institutions with which deposits of moneys of the organisation or of a branch of the organisation have been made and the prescribed particlars in relation to those deposits . . .

The previous Government, which was so serious about having full powers to impose penalties, never bothered to prescribe any particulars by regulation. So this section always has been inoperative.







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