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Tuesday, 14 October 2008
Page: 32

Senator BOB BROWN (Leader of the Australian Greens) (3:49 PM) —I move:

   That the Senate calls on the Government to:

(a)   ensure that, as a minimum, no financial institution executives’ pay will increase as a consequence of the Government purchasing residential mortgage-backed securities or guaranteeing deposits and wholesale term funding of Australian financial institutions; and

(b)   prohibit payment of severance benefits (‘golden parachutes’/’golden handshakes’) to chief executive officers of such banks or institutions.

Question put.