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Monday, 3 March 1997
Page: 1776

Amendments (by Mr Fahey)—by leave—agreed to:

(1)   Clause 2, page 2 (lines 24 to 27), omit paragraph (3)(f).

(2)   Schedule 2, page 160 (after line 10), after item 1056, insert:

1056A Section 30

Omit "The", substitute "Subject to subsection (2), the".

1056B Before paragraph 30(a)


(aa)   such amount as the Treasurer, after consultation with the Board, determines is to be set aside for contingencies; and

1056C At the end of section 30


(2)   If the net profit of the Bank for a year is calculated on a basis that requires the inclusion of unrealised gains on assets during the year, the amount to which subsection (1) applies is to be worked out as follows:

   (a)   deduct from the net profit an amount equal to the total of all amounts of unrealised gains included in the net profit; and

   (b)   if an asset in respect of which unrealised gains were included in the net profit for a previous year or years is realised during the year—add to the amount remaining after applying paragraph (a) the total amount of those unrealised gains.

Bill, as amended, agreed to.