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Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Oct 28, 1971
Page
5
A fragmented report shows the Prevident of the Senate Sir Mugmus Carrick addressing privilege in the Senate. The statement references parliamentary committees and members as well as questions and debates over privilege and procedure.
The Government aimed to announce a general outline of general insurance legislation before the current Parliament session ends. Attorney General Senator Greenwood reported yesterday that opposition leader motions were amended to delay and critique the government for failing to introduce regulation of insurance and accident incurs. The government and DUP faced pressure, while discussions on broader reform continued with active parliamentary scrutiny.
Senator Murphy says insurance firms are folding and urgent action is needed to limit practices. He cites public harm from unregulated insurers and calls for inverse legislation and formal inquiries. The discussion references the Commonwealth Life Insurance Act of 1948 and potential ministerial action to restore order amid industry concern.
Report notes Libs leader McChipp urging negotiators to seek a practical settlement on refining capacity. Government may not intervene if negotiations hold. parties involved aim for a commercial agreement, with ministers watching progress closely.
Treasurer Sr Spedden will report Parliament today on his talks in the United States and Europe about the world monetary situation. He aims for a quick solution to international monetary problems. Labor's spokesman says Spedden fulfilled clear talks showing Australia wants a sell tin ban that won’t restrict capital flow to developing countries.
A parliamentary report outlines plans for extended sessions and late-night sittings in Parliament. It notes government concerns, potential procedural changes, and the aim to streamline legislation while maintaining decorum and public accountability.
Labor Party spokesman on financial affairs Mr Crean called for federal legislation to regulate finance companies. He told the House of Representatives that consumer danger from unregulated lending and overseas interests in Australian banks warranted government action. Crean cited 1981 asset figures and warned of the growth of finance companies affecting Australian financial stability and consumer protections.
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