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Tuesday, 3 June 2003
Page: 15919

Mr Murphy asked the Minister for Transport and Regional Services, upon notice, on 14 May 2003:

(1) Is he familiar with the sixfold fiduciary and other duties of a company, namely: duty to the shareholders, duty to the company's creditors, duty to the company itself, duty to company's employees, duty to the law, and duty to society.

(2) Will he make representations to QANTAS, the tourism industry peak bodies and the Airport Lessee Companies, exhorting them to make declarations that in light of the war on Iraq, the impact of the events of 11 September 2001 and the threat of terrorism, that they must heed the natural law and the impact of such vicissitudes outside their immediate self serving financial ends, that compel them to take a more responsible and active part in civic affairs as good corporate citizens; if not, why not.

(3) Will he draft a statement, seek a memorandum of understanding with, or issue some other direction to QANTAS, the Airport Lessee Companies and the Tourism Industry boards of directors so that, in light of the catastrophic impacts of the war on Iraq, the events of 11 September 2001, the threat of terrorism and the SARS epidemic, corporate ethics be declared so as to recognise the symbiotic relationship between corporate financial interests and the world environment; if not, why not.

Mr Anderson (Minister for Transport and Regional Services) —The answer to the honourable member's question is as follows:

It is not appropriate for a Minister to interfere with the commercial operations of these entities.