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Tuesday, 27 November 1973

Senator DEVITT (TASMANIA) -Is the Attorney-General aware that particularly over the past decade many thousands of investors have suffered substantial financial losses through the collapse of companies in which they have invested, despite assurances which were given at the time of their buying the shares that the venture was underwritten and that the return of capital was thereby guaranteed? Ought it not to be a requisite when soliciting subscriptions to guarantee the total amount subscribed, not merely the amount sought? In other words, if a company seeks an investment of $2m and if $3m -

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