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Legislative Assembly for the ACT: 2004 Week 10 Hansard (26 August) . . Page.. 4490..

the Canberra's skill base for commercialisation, leverages at least $20 million in additional private sector capital for investment in Canberra and be able to provide access to the majority of Canberra's intellectual property asset.

(2) The public process to call for submissions to manage the fund was discontinued following receipt of an unsolicited grant proposal from the ANU.

(3) The ANU and MTAA Super are based in Canberra.

(4) Yes.

(5) The details of the fund are yet to be finalised.

(6) A new fund will be established.

(7) In finalising the governance structures, the Government will ensure that any conflict of interest issues are appropriately addressed.

(8) The fund will be able to invest in businesses that are built around research and development projects from ACT-based institutions and businesses.

Coranderrk Street traffic lights

(Question No 1750)

Mr Smyth asked the Minister for Urban Services, upon notice, on 17 August 2004:

(1) Has the sequence of green right turning arrows at the traffic lights on the corner of Akuna and Coranderrk Streets been changed;

(2) If so, why has this sequence been changed when this is a very busy turning lane where traffic is backed up along Coranderrk Street and Ballumbir Street past the back of the Canberra Centre and on Ainslie Avenue for traffic wishing to turn onto Coranderrk Street;

(3) If no to part (1), why on Monday 16 August was the green light for traffic in the right turning lane onto Akuna Street only allowing around four cars through at a time when normally there are two green lights for this right turning lane which remain green for a significant time before traffic heading north along Coranderrk Street are given their green light;

(4) Are any changes to the sequence for the right turning lane from Coranderrk Street into Akuna Street permanent; if so, will the Minister undertake to review those changes due to the discomfort it is causing motorists and the backlog of traffic it is causing.

Mr Wood

: The answer to the member's question is as follows:

(1) No.

(2) See answer to question (1).

(3) A fault occurred with the vehicle detector in the right turn lane that resulted in the unusual behaviour of the lights. Roads ACT traffic signal staff were unaware of the fault until late in the morning when action was taken to correct it.

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