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

My question is to Senator Coonan with respect to Corporations Law. Minister, are you aware that there is concern that business standards are slipping again and that last weekend the Financial Review had a headline ‘Back in the west the wild boys are back’? Is the minister aware of the article by Allen Kohler in the West Australian dated 24 January 2007 regarding conflict of interest matters arising from the mooted Alinta gas management buyout? In particular, does the minister recall Mr Kohler saying:

Apparently it’s now OK for a chairman to join a management buyout, for both the CEO and chairman to keep running the company while at the same time trying to take it over, for the company’s adviser—

he means Macquarie Bank—

to look at supporting this and for the board to keep it secret.

Does the minister agree with Mr Kohler that:

It clearly cannot be left to the marketplace to work out.