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Monday, 13 December 1993
Page: 4399


Senator BEAHAN —I give notice that, on the next day of sitting, I shall move:

  That the Senate—

    (a)welcomes the decision of News Corporation Ltd to withdraw its submission to the Australian Stock Exchange (ASX) seeking a waiver from an amendment to its listing rules to permit a system of super voting shares;

    (b)congratulates the Attorney-General (Mr Lavarch) for his firm stand in support of full and detailed debate prior to any decision to alter the current one-share-one-vote rule;

    (c)welcomes the Attorney-General's intention to proceed with the establishment of a three person advisory group to examine the implications of the differential share question;

    (d)notes the intention of the ASX to continue its analysis of the differential share issue with a view to formulating a draft policy; and

    (e)urges the ASX to extend the time for its inquiry to ensure full debate of the issue by all interested parties in the absence of the pressure posed by the News Corporation Ltd proposal and the limited time-frame initially proposed for discussion.