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Legislative Assembly for the ACT: 2009 Week 4 Hansard (26 March) . . Page.. 1382..

MR BARR (continuing):

The bill also contains amendments to the Financial Management Act to allow for the transfer of assets, liabilities and functions back to the territory. The Financial Management Act already contains a range of provisions about governance of statutory entities, including where a statutory entity is to be abolished or to have its functions transferred. Transitional provisions are included in the bill to ensure that unforeseen matters can be subsequently prescribed under the Financial Management Act should the need arise. The transitional provisions will be in place for a period of two years after the commencement of the act.

Before I conclude I would like to make it clear that the cash reserve built up by the corporation over recent years will remain attached to EPIC for future investment in the facility. Indeed, as members may be aware, some projects to improve EPIC have already been earmarked and will be the subject of further debate today in the appropriation bill, including the upgrade of the Terrace Restaurant. Members may also be aware of the government's intention to move on tourist accommodation facilities at EPIC. Some of the funds in EPIC's reserve may also go towards a project to provide improved tourist accommodation at the facility.

This bill is designed to consolidate and streamline the delivery of services at EPIC and to give the Canberra community the best return on the asset. Mr Speaker, it is not often in this place that we get to abolish a piece of legislation and to save money for the taxpayers, so I am very pleased to be in a position to present this legislation today. I have the utmost confidence in the Territory Venues and Events group, under the management of Mr Neale Guthrie, to effectively manage this facility. It will be a golden era for Exhibition Park on the successful passage of this legislation. I thank members.

Debate (on motion by Mr Smyth) adjourned to the next sitting.

Assembly business—postponement

Ordered that notices Nos 1 and 2 be postponed to the next sitting.

Planning and Development Amendment Regulation 2009 (No 2)

Motion to disallow

MR BARR (Molonglo—Minister for Education and Training, Minister for Children and Young People, Minister for Planning and Minister for Tourism, Sport and Recreation) (10.24): I move:

That Subordinate Law SL2009-8, being the Planning and Development Amendment Regulation 2009 (No 2), be disallowed.

I bring on this disallowance motion today to bring certainty to schools, parents and teachers, I bring on this disallowance motion today in order to bring certainty to Canberrans working in the building trades, and I bring on this disallowance motion today in order to bring certainty to our local economy.

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