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Legislative Assembly for the ACT: 1996 Week 2 Hansard (29 February) . . Page.. 486 ..

MR HUMPHRIES (continuing):

It is not anybody else's business. The management of a Commonwealth Territory might have been relevant 50 years ago when it was truly a Federal Territory. It is today a Territory, self-governing in every real sense of the word, with the right to make the decisions about fundamental issues such as its system of land tenure and holding. That decision should be made by the people of the Territory through the ACT Legislative Assembly.

CRA Ltd - Waiver of Stamp Duty

MR WOOD: Mr Speaker, I have a question to Mrs Carnell in her capacity as Chief Minister. I refer her to answers in the Assembly yesterday in attempting to explain away the gift to the CRA group of $10.8m. Mrs Carnell said in answer to Ms Follett's question:

CRA have not gone ahead with their restructuring in any State that has not offered the exemption.

Mrs Carnell repeated that position in relation to my question. However, in answer to Mr Moore's supplementary question, Mrs Carnell said:

The two States that have waived with regard to CRA are New South Wales and Victoria ... I do not believe that they have actually approached anyone else.

My question is: Which of those statements is true, and which of the two was misleading the Assembly?

MRS CARNELL: Mr Wood, they are both true. My understanding is that New South Wales and Victoria are the two major States of incorporation of CRA companies. That is where the vast percentage of their companies are currently - - -

Ms Follett: They cannot both be true. One of them is untrue.

MRS CARNELL: No, both can be true. They have currently approached New South Wales and Victoria. New South Wales and Victoria have waived their stamp duty and restructuring has happened. As far as I know, they have not approached any other States. The only other State with any major incorporation of CRA companies is Western Australia. My understanding is that they have not officially approached the Western Australian Government at the moment because they are in the process of relooking at their legislation.

Ms Follett: You said that they did not go ahead with the restructure. They did not go ahead where any State is not - - -

MRS CARNELL: Excuse me.

MR SPEAKER: Order! Mr Wood asked the question.

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