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Wednesday, 27 November 1974
Page: 2895

Senator Guilfoyle asked the Minister for Aboriginal Affairs upon notice:

(   1 ) Has a 70 per cent interest in the Perkins Shipping and Mining Corporation been purchased by the Department of Aboriginal Affairs, and has that Department equity in the Company held by the Capital Fund for Aboriginal Enterprises.

(2)   Is a holding company being formed to hold this interest; if so, what is to be its composition.

(3)   Will the enterprise be subject to the scrutiny of the Auditor-General 's Office.

Senator Cavanagh - The answer to the honourable senator's question is as follows:

(1)   The Capital Fund for Aboriginal Enterprises has acquired 70 per cent of the issued shares in Perkins Ltd.

(2)   A company, Arnhem Transport Services Pty Ltd. has been formed to take up the shares presently held by the Capital Fund. Initially all of the shares will be held by the Capital Fund.

(3)   The enterprise will be subject to the scrutiny of a registered company auditor. The holding company and the Capital Fund are subject to audit by the Auditor-General.

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