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Wednesday, 28 November 1973
Page: 4070

Mr Nixon asked the Minister for Civil Aviation, upon notice:

(1)   Has Trans.Australia Airlines complied with the requirements of section 31a of the Australian National Airlines Act to transfer its superannuation provisions to the Commonwealth Superannuation Board or such other trustees at the Treasurer approves. If so, on what date.

(2)   From what sources, with what amounts of borrowing and at what interest rate have the Commission's funds been replaced.

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

(1)   Yes, on 21 September 1973.

(2)   The Commonwealth Trading Bank is the approved trustee of the TAA superannuation funds. The loans came from that source. The amount borrowed is $29.4m and the interest rate is 8.5 per cent.

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