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Legislative Assembly for the ACT: 2002 Week 7 Hansard (6 June) . . Page.. 2157 ..

TransACT-funding

(Question No 202)

Mr Humphries asked the Treasurer, upon notice, on 4 June 2002:

In relation to the TransACT's recently secured more private sector partner funding:

(1) What are the companies or organisations that have provided or will provide this additional partnership funding to TransACT.

(2) How much has been invested or will be invested by each of these companies/organisations.

(3) Has the Government underwritten any of these amounts; if so under what terms and conditions.

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

(1) TransACT has recently secured private sector funding from the following companies:

Commonwealth Bank of Australia;

MTAA Superannuation Fund (TransACT) Utilities Pty Ltd; and

TVG Transact Holdings Limited.

(2) Over time, these entities will contribute $40m, $20m and $10m respectively. These contributions are the subject of a Subscription Agreement executed on 28 March 2002. The investment by TVG is in addition to the significant funding previously invested by that company.

In addition, ACTEW Corporation Limited and AGL have each entered into underwriting arrangements to enable TransACT to access debt facilities of up to $25m. These debt facilities are secured by a first charge over the assets of TransACT.

TransACT also has an obligation to undertake a capital restructure upon the completion of its network rollout. The first obligation when this takes place is the repayment of any debt guaranteed by ACTEW and AGL.

(3) The ACT Government has not underwritten any of these amounts.

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Olympic Pool, Civic

(Question No 203)

Mr Pratt asked the Minister for Urban Services, upon notice:

In relation to the 2001-02 allocation of $60,000 by the former Liberal Government towards a study to identify the best method of enclosing the 50 metre Olympic Pool in Civic:

(1) Can you advise if the study has been undertaken?

(2) If so, what stage is it at?

(3) Will the study use the entire $60,000 allocated?

(4) When will the results of the study be known?

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