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Tuesday, 30 September 1958

Mr DRUMMOND (NEW ENGLAND, NEW SOUTH WALES) - I ask the Prime Minister whether his attention has been drawn to the growth of mushroom companies which apparently promise hospital and medical benefits to people who join their schemes, but the supposed beneficiaries never receive any benefits and are unable to obtain a refund of their contributions. Is this state of affairs due to a weakness in the company laws, which do not give the Commonwealth power to protect contributors? If so, would it be possible to arrange with the States for them to introduce legislation concurrent with Commonwealth legislation in order to protect contributors to such schemes? Alternatively, has the Government considered introducing legislation to enable the Commonwealth to prevent exploitation of this type from growing?

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