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Tuesday, 28 September 1993
Page: 1270

Senator ROBERT RAY (Acting Leader of the Government in the Senate) —I present the government's response to the report of the Joint Committee on Corporations and Securities on the Close Corporations Act 1989. I seek leave to incorporate the document in Hansard and to move a motion in relation to the document.

  Leave granted.

  The document read as follows

14 July 1993

Senator Michael Beahan


Joint Parliamentary Committee on Corporations and Securities

Parliament House

Canberra ACT 2600

Dear Senator Beahan

I am writing to you concerning the recommendations made in the Joint Parliamentary Committee's Report on the Close Corporations Act 1989, tabled in Parliament last December.

I believe the development of a new corporate structure specifically tailored to the needs of small business would have significant advantages, including, in particular, a reduction in running costs and greater simplicity of operation for business. The Joint Committee's Report makes several significant and useful recommendations in this regard.

In view of the important and wide ranging recommendations made by the Committee, I propose, as a matter of priority, to seek the views of interested organisations, especially the small business community, on the detailed proposals made by the Committee. For your information, I enclose a copy of a media release and a discussion paper which I have issued for this purpose.

I would like to take this opportunity to thank the Committee for what I believe is a Report which will lead to a major improvement in the corporate structure for small business in Australia.

Yours sincerely


Senator ROBERT RAY —I move:

  That the Senate take note of the document.