Tuesday, 18 September 2007
Tax Laws Amendment (2007 Measures No. 4) Bill 2007; Taxation (Trustee Beneficiary Non-Disclosure Tax) Bill (No. 1) 2007; Taxation (Trustee Beneficiary Non-Disclosure Tax) Bill (No. 2) 2007; Tax Laws Amendment (2007 Measures No. 5) Bill 2007
I take the parliamentary secretary’s answer in the spirit in which it has been offered. I think it would also be appropriate for him to point out that there are other more senior people in the government who should have made sure that officers were here to answer these basic questions. Given that, I ask him this: in the event that these appointments are made immediately, what will be the length of time for these appointments? Parliamentary Secretary, would you be prepared to take that question on notice in view of the circumstances?
The very last section of the bill states that the appointments of members of the committee under section 22 of the industry R&D act are revoked when this new act takes effect. Firstly, there are currently nine committees operating under the industry R&D board act. Is it the government’s intention to immediately re-establish equivalent committees under the new act? Secondly, does the government intend to establish any additional committees relating to the venture capital responsibilities? Thirdly, what is the process for the establishment of new committees? Fourthly, what is the process for appointing members to those committees and what would be the length of those appointments?