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Legislative Assembly for the ACT: 1997 Week 9 Hansard (4 September) . . Page.. 2873 ..

Thursday, 4 September 1997

__________________________

The Assembly met at 10.30 am.

(Quorum formed)

MR SPEAKER (Mr Cornwell) took the chair and asked members to stand in silence and pray or reflect on their responsibilities to the people of the Australian Capital Territory.

QUESTIONS WITHOUT NOTICE

Canberra Cannons

MRS CARNELL: Mr Speaker, it has been drawn to my attention that I may have unintentionally misled the Assembly over the matter of the Government's decision to provide a guarantee for the financial support of Canberra Cannons Pty Ltd.

Mr Berry: Woops!

MRS CARNELL: At least I come back the moment I know, unlike you guys. On 2 September, I told the Assembly, in relation to the Canberra Cannons guarantee, and with reference to the Canberra Cosmos guarantee:

... these are disallowable instruments in this place. From the day that these are signed off they have to be tabled in the Assembly and therefore can be disallowed, as the Cosmos one could have been disallowed.

Mr Speaker, guarantees of this nature, approved by the Treasurer, are not disallowable instruments. The Financial Management Act 1996, in accordance with which the Canberra Cannons guarantee was provided, states in section 47:

Where the Treasurer approves a guarantee under subsection (2), he or she shall cause a copy of the approval to be laid before the Legislative Assembly within 3 sitting days after the approval is given.

There is no requirement under the Financial Management Act 1996 for the Canberra Cannons guarantee or the Canberra Cosmos guarantee to be a disallowable instrument. As required by the Financial Management Act 1996, I tabled a copy of the Canberra Cannons guarantee approval in the Assembly yesterday, 3 September.

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