Page 4640 - Week 15 - Wednesday, 15 December 1993
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This is a comprehensive strategy which is designed to play a significant role in achieving an ecologically sustainable future for the ACT. I commend the draft strategy to the Assembly and look forward to receiving the views of Assembly members and the wider community on the material it contains.
Debate (on motion by Mr Moore) adjourned.
ELECTORAL SYSTEM
MS FOLLETT: Madam Speaker, I wish to correct a statement that I inadvertently made in question time. In the course of a list of issues that I was going through that are not included in the referendum options sheet I inadvertently referred to the issue of casual vacancies. I was in error. That issue quite clearly is described in the referendum options sheet and is dealt with in our legislation.
BANKING SECTOR
Discussion of Matter of Public Importance
MADAM SPEAKER: I have received a letter from Mr Stevenson proposing that a matter of public importance be submitted to the Assembly for discussion, namely:
The increasing concern by Canberrans about improper financial activities within the banking sector and particularly the State Bank of New South Wales.
MR STEVENSON (3.12): We have before the house today a matter that can have serious consequences for many citizens in the ACT. The Government Insurance Office's intention to lodge a notice of interest in the purchase of the State Bank of New South Wales, reported in the Sydney Morning Herald yesterday, 14 December, in itself has no major impact until a series of events are disclosed. These events raise questions about the true financial position of the State Bank.
The Victims of the State Bank of New South Wales - a registered association founded in the ACT in 1993, but now with members in New South Wales, Victoria and Queensland - claim that the State Bank has uncollectable loans of up to $3 billion above that which is currently admitted by the bank. This $3 billion figure was arrived at by adding up the loan repayments claimed by the bank from bank clients who have said that they either do not owe the money or cannot repay the moneys claimed, but in either case say that the loans are uncollectable. If the State Bank is taken over by the Government Insurance Office its shareholders, but more importantly its policyholders in our region, could be seriously affected if the State Bank's financial position has not been correctly reported.
In speaking with members of the Victims of the State Bank of New South Wales I was alarmed at the number of claims they have made that bank officers have committed fraud in their dealings with bank clients. These serious allegations, particularly in connection with a government owned bank, should have been
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