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Wednesday, 14 August 1974
Page: 943

Senator GREENWOOD (Victoria) - The Opposition wishes to move an amendment to clause 50 which deals with the broad subject of mergers. It is a comprehensive prohibition of absolutely enormous import. I shall read sub-clause ( 1 ) of clause 50 to indicate what it involves:

A corporation shall not acquire, directly or indirectly, any shares in the capital, or any assets, of a body corporate where the acquisition is likely to have the effect of substantially lessening competition in a market for goods or services.

I ask the Committee to consider just what the -

Senator Murphy - May I intervene again, Mr Chairman?

Senator GREENWOOD -If it is to indicate that one of the Opposition's amendments is to be accepted, I would be quite happy to allow Senator Murphy to intervene, Mr Chairman.

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