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Thursday, 31 May 1973
Page: 3076

Mr Snedden asked the Treasurer, upon notice:

(1)   Will he list all take-over proposals which have been (a) cleared and (b) rejected as a result of consideration under the terms of the Companies (Foreign Take-overs) Act since 2 December 1972.

(2)   How many proposals are currently under consideration.

Mr Crean - The answer to the honourable member's question is as follows:

(1)   It would not be appropriate to provide the names of all companies concerned in foreign takeover proposals considered under the Companies (Foreign Take-overs) Act 1972, because in many cases information has been provided confidentially. Information relating to the administration of the Companies (Foreign Take-overs) Act 1972 from 5 December 1972 is contained in my press statements of 23 February, 20 March, 6 April and 7 May 1973 (Treasury press releases Nos. 10, 15, 21 and 31 respectively). These statements contain the names of companies in respect of which interim or final orders have been issued in cases where confidentiality is not involved.

(2)   As at 25 May 1973, 49 proposals were under consideration.

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