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Wednesday, 10 May 1989
Page: 2153

Senator HILL(11.23) —I am sorry to labour the point, but this proposal of the Government is unprecedented. What the Government is saying is that it will pass this massive package of legislation but not proclaim certain parts-we do not know what parts-until a case is taken, if it is taken, and that the Government will allow a period of time, the length of which we do not know, for that case to be taken. This is the basis upon which this Government is planning to set up the whole new legal structure for corporate and securities law in this nation. I think it is reasonable for the Parliament and the people of Australia to know which parts the Government will not proclaim, for how long it will not proclaim them and whether it has in place negotiations with the States for an action to be brought in the High Court.