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Thursday, 1 June 1989
Page: 3277

Senator WALSH (Minister for Finance)(9.15) —I do not intend to attempt, in closing the second reading debate, to reply to all the points that have been made. However, Senator Short asked a specific question regarding whether action under what is known as the anti-detriment clause in the legislation would be initiated by the Commissioner of Taxation. I am told that action would not be initiated by the Commissioner because the information that could form the basis of a claim under that provision would not be within the knowledge of the Commissioner and would be known only to the taxpayer and/or the fund. Therefore, they would have to initiate the action.

I trust that there are still only three amendments-one to be moved by the Australian Democrats and two to be moved by the Opposition-none of which is acceptable to the Government. I will explain the reasons for that during the committee stage. I wish the Bills a speedy passage. (Quorum formed)

Question resolved in the affirmative.

Bills read a second time.