Senate debates

Wednesday, 7 February 2007

Questions without Notice

Corporations Law

2:47 pm

Photo of Andrew MurrayAndrew Murray (WA, Australian Democrats) Share this | Hansard source

Mr President, I ask a supplementary question. I appreciate the minister’s answer and I am aware that ASIC are looking into the matter but I am not satisfied that the law is as clear as the minister might hope. In view of the problems identified in Mr Kohler’s article and general disquiet over matters like these, will the minister undertake to strengthen Corporations Law if ASIC finds that its current powers to investigate and act on conflicts of interest, the actions of directors and the level of management fees involved in these types of transactions are unclear or inadequate? In that case, will the government consider asking ASIC or CAMAC or both to formally review these and similar issues?

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