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Legislative Assembly for the ACT: 2003 Week 5 Hansard (8 May) . . Page.. 1770 ..

MR QUINLAN: Mr Speaker, the relocation of the headquarters of ACTTAB reflects the government's policy to encourage the ongoing development of decentralised town centres, including Gungahlin, into viable economic and social centres for the territory. Relocation of the head office is an important investment in the future growth of Gungahlin.

In accordance with section 17(4)(b) of the Territory Owned Corporations Act, I advise the Assembly that the estimated net reasonable expense of the direction is a one-off estimated cost of approximately $627,000 and an estimated annual cost of approximately $20,000 for a period of five years.

The estimated net reasonable expense is made up of additional communications infrastructure of $27,000 and an estimated potential building write-down of $600,000. The building write-down may result if the construction costs of the building and purchase of the land total more than their value upon completion.

The estimated annual cost of $20.000 relates to funding of the running costs of a microwave link between Gungahlin and the Canberra Racecourse for disaster recovery reasons. These costs are estimates only. The final costs will not be known until the building has been constructed and independently valued, and other communication costs are incurred and paid by ACTTAB.

Insurance issues-ministerial meeting

Paper and statement by minister


(Treasurer, Minister for Economic Development, Business and Tourism and Minister for Sport, Racing and Gaming) (7.34): Mr Acting Deputy Speaker, for the information of members, I present the following paper:

Insurance Issues-Ministerial meeting on insurance issues-Joint Communiqué-Perth-4 April 2003.

I ask leave to make a short statement.

Leave granted.

MR QUINLAN: Mr Acting Deputy Speaker, this is the fourth time I have reported to the Assembly on my attendance at various ministerial summits on insurance. These summits were convened in response to the public liability insurance crisis. Since then, as members will be aware, the issues have become more complex and have expanded to encompass the medical profession, other professions and some business groups.

The most recent summit was held on 4 April 2003. It is the fifth in a series of summits. The purpose of this summit was to review progress on a very ambitious work program assigned to officials following the November 2002 summit.

Conditions under which affordable insurance might be more easily obtained are not yet with us. Some areas of business are experiencing difficult circumstances. In some cases-professional indemnity in particular-the demise of HIH still causes some

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