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Wednesday, 26 October 1910

Senator McGREGOR (South AustraliaVice President of the Executive Council) . - The Government would do anything in their power to assist Senator Walker to frame an amendment of a definite character if it did not interfere with the principle underlying the Bill. But honorable senators will notice that Senator Walker not only wants to bring in building societies registered under State Acts, but associations or companies. He tells us that some of these associations or companies which have gone into liquidation have already parted with £150,000 or £250,000 worth of land. The Lord knows how much more they have to dispose of. Really, he is asking for too much. He gives us no assurance that these building societies, associations, or companies were instituted for any other purpose than to make a profit out of the people. There is no mutual principle connected with them. If they are in possession of land and go insolvent, there is another clause of the Bill which will affect them. I allude to clause 64, which is included for the very purpose of dealing with such cases as Senator Walker has brought under our notice.

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