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Thursday, 22 May 1980
Page: 3121


Mr ROGER JOHNSTON (Hotham) -I will seek to explain the amendments in three brief sentences. Amendments 1 and 2 will substitute for the borrowing powers of the Pipeline Authority, which are set out in clause 18 of the Pipeline Authority Amendment Bill, new provisions to enable the Authority to raise funds by infrastructure borrowings. These new borrowing provisions are similar to corresponding provisions in the Australian National Railways Amendment Bill 1 980 and the Australian Shipping Commission Amendment Bill 1980 which have passed through this chamber and through the Senate.

Amendment 3 amends section 33 of the principal Act. It-deals with the liability of the authority to taxation to enable the Treasurer (Mr Howard) to exempt certain loans, dealings and securities from stamp duties and similar taxes. These are similar provisions to those contained in the Australian National Railways Amendment Bill and the Australian Shipping Commission Amendment Bill. The provisions have the effect of making this legislation more compatible with the provisions of other statutory legislations. I hope that that explains it adequately to the Opposition. This is information which is freely available in the Bill.







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