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Legislative Assembly for the ACT: 1993 Week 06 Hansard (Tuesday, 18 May 1993) . . Page.. 1554 ..


When I present the third progress report on this study I believe that the chair of the reference group will take that opportunity to provide a preliminary report on the consultation process. That report will also be tabled in the Assembly. The reference group's deliberations with the community will of course be reflected in the final report that will be presented to the Assembly in August. The final report, the fourth report, will draw together all of the issues and conclusions that are based on the issues papers and community consultations and will also develop some goals, some implementation strategies and evaluation and review processes, as was called for in the Assembly's original motion which initiated this study.

Madam Speaker, I again thank members for their comments. I think it might be wise if those comments were to be added to the consultation process that is under way at the moment. I look forward to presenting this week the third report on the 2020 study and of course, in due course, to the culmination of all of this work.

Question resolved in the affirmative.

LAND (PLANNING AND ENVIRONMENT) ACT -
VARIATION TO THE TERRITORY PLAN

Papers

MR WOOD (Minister for Education and Training, Minister for the Arts and Minister for the Environment, Land and Planning): Madam Speaker, for the information of members, I present an approval for a variation to the Territory Plan for Kingston, section 26, blocks 32, 33, 50 and 54 - the former Canberra Women's Bowling Club - pursuant to section 29 of the Land (Planning and Environment) Act 1991. In accordance with the provisions of the Act, this variation is tabled with the background papers, a copy of the summaries and reports, and a copy of any direction or report required.

AUDIT (AMENDMENT) BILL 1993

Debate resumed from 25 March 1993, on motion by Ms Follett:

That this Bill be agreed to in principle.

MR KAINE (9.29): Madam Speaker, the Liberal Party opposes this Bill in its present form. It opposes it on the basis of what we currently understand to be the Government's position in respect of it. The Bill, if approved, would place trust fund moneys with private investment experts for investment in what might be high yield derivative investment products. Investments are currently made in the short-term money market by the Treasury on behalf of the Government. Those investments are made through and with the advice of experts in the private sector, and the returns to the ACT have been consistently good, if modest, over the years. But because the Treasury maintains a high level of supervision and involvement in managing those investments the risks have been kept low. Bear in mind that we are talking here about trust fund moneys and, specifically, superannuation fund moneys. This Bill proposes to take a more aggressive but more risky course of action than has been followed in the past. It could be expected to be a higher return course of action.

Debate interrupted.


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