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Tuesday, 29 November 1983
Page: 2968

Question No. 269


Senator Macklin asked the Minister representing the Treasurer, upon notice, on 23 August 1983:

(1) Has the Government any knowledge of a connection between Maryvale Forest Pty Ltd and Iwasaki Sangyo (Aust) Pty Ltd or associated companies; if so, what is this connection.

(2) Does the Government possess any evidence of a breach of the previous Government's foreign investment policy decision requiring Federal Government approval before Iwasaki Sangyo (Aust) Pty Ltd 'makes any arrangements' with regard to further land acquisition in the Yeppoon area of Queensland; if so, what is the evidence.


Senator Walsh —The Treasurer has provided the following answer to the honourable senator's question:

(1) No.

(2) The previous Treasurer in his Press release No. 8 of 23 February 1980 stated, inter alia, that the Iwasaki company had been denied foreign investment approval to acquire additional land, including two parcels of land in respect of which contracts had been entered into in order to enlarge the area of its proposed tourist resort near Yeppoon, Queensland. The Government has no evidence of any other arrangements by the Iwasaki company to acquire additional land in Australia.