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Parliamentary Debates [Hansard] Queensland Parliamentary Debates [Hansard] Legislative Assembly TUESDAY, 30 OCTOBER 1979 Electronic reproduction of original hardcopy Papers [30 OCTOBER 1979] Ministerial Statements 1443 TUESDAY, 30 OCTOBER 1979 Wheat Pool Act 1920-1978. Water Act 1926-1979. Harbours Act 1955-1979. Mr. SPEAKER (Hon. S. J. Muller, Fas­ sifern) read prayers and took the chair at Regulations under- 11 a.m. Agricultural Chemicals Distribution Control Act 1966-1978. ESSENTIAL SERVICES BILL Agricultural Standards Act 1952-1972. Fruit and Vegetables Act 1947-1972. Assent reported by Mr. Speaker. Meat Industry Act 1965-1977. Primary Producers' Organisation and STANDING ORDERS COMMITTEE Marketing Act 1926-1979. Sugar Experiment Stations Act 1900- RESIGNATION OF MR. T. G. NEWBERY 1976. Mr. SPEAKER: I have to inform the Health Act 1937-1978. House that a vacancy exists on the Standing Cremation Act 1913-1978. Orders Committee consequent upon the resignation of Mr. Thomas Guy Newbery Radioactive Substances Act 1958-1970. from that committee. Queensland Marine Act 1958-1975. By-laws under Meat Industry Act 1965- APPOINTMENT OF MR. C. A. WHARTON 1977. Report of the Bureau of Sugar Experi­ Hon. X. BJELKE-PETERSEN (Barambah­ ment Stations for 1978-79. Premier): I move- "That Mr. Claude Alfred Wharton, Certified copy of the Financial Statements member for the electoral district of Bur­ of the Metropolitan Transit Authority nett, be appointed a member of the Stand­ for 1978-79. ing Orders Committee to fill the vacancy caused by the resignation of Mr. Newbery." MINISTERIAL STATEMENTS Motion agreed to. ALFRED GRANT GROUP OF CoMPANIES Hon. W. D. LICKISS (Mt. Coot-tha­ FEES PAID BY CROWN TO PUBLIC Minister for Justice and Attorney-General) RELATIONS AND ADVERTISING (11.7 a.m.): I wish to in!or~ this H?use of AGENCIES certain aspects of a major Issue which has RETURN TO ORDER been discussed here on a number of occas­ ions. I refer to the operations of and events The following paper was laid on the surrounding the Alfred Grant group of table:- companies. Return to an Order made by the Some years ago, the Alfred Grant group House on 28 August last, on the of companies was engaged in the develop­ motion of Mr. Austin, showing all ment and sale of land situated in Queens­ payments made by the Government to land. Much of this land was contained in public relations agencies or consul­ real estate developments in the Sunshine tants and advertising agencies or con­ Coast region. Bundilla Lakes was a major sultants during the 1978-79 financial area involved in these developments. A year, stating the names of the considerable number of contracts for the recipients and the amounts received separately. sale of this land were entered into by pur­ chasers situated outside Queensland. The Alfred Grant group of companies had PAPERS apparently entered into an agency rt;latioi_I­ The following papers were laid on the ship with a company known as. Capr~co.rma table:- Finance and Marketing Corporation Limited, which was incorporated in the Channel Isles. Proclamations under The Sugar Acquisi­ Many sales in the United Kingdom were tion Act of 1915. made by a company known as Australian Orders in Council under- Land Sales Limited. Agricultural Bank (Loans) Act 1959- As the House would be aware, the activities 1979 and the Local Bodies' Loans of companies operating outside the State of Guarantee Act 1923-1979. Queensland are not subject .to Queensland's The Banana Industry Protection Acts, legislative control. In a typical case, a sale 1929 to 1937. would be conducted by Australian Land Meat Industry Act 1965-1977. Sales Limited in the United Kingdom. The Milk Supply Act 1977-:J978. funds arising from that sale would then be transmitted to Capricornia Finance and Primary Producers' Co-operative Associ­ Marketing Corporation Limited in the Chan­ ations Act 1923-1978. nel Isles and there, in accordance with the Primary Producers' Organisation and agency agreement between the Alfred Grant Marketing Act 1926-1979. group of companies and Capricomia Finance 1444 Ministerial Statements [30 OCTOBER 1979] Ministerial Statements and Marketing Corporation Limited, a sum In order to resolve the dilemma and in of 45 per cent of all proceeds of such sales order to provide a mechanism whereby pur­ would be deducted by way of commission. chasers from the Alfred Grant group of com­ If the sale was a terms sale, a further sum panies may receive at least a partial refund of 5 per cent would be deducted to cover of sums paid by them outside Queensland, handling fees. and currently held in Queensland on trust, It was then envisaged that the balance of for the purchase of land from the Alfred the proceeds of the sales would be trans­ Grant group of companies, Cabinet has mitted to Australia, where they would be agreed, on my recommendation, to introduce held in trust accounts operated by the Alfred specific legislation. Grant group of companies until such time as The purpose of this legislation will be to the Alfred Grant group was in a position establish a scheme whereby persons claiming to give clear title to the purchasers of such to be entitled to receive a refund of trust blocks of land. monies currently held in Queensland on On 24 March 1976, Messrs. W. G. Jameson, behalf of the Alfred Grant group of com­ K. H. White and P. D. R. Isherwood, panies can make application to the receivers members of the accounting firm of Messrs. and liquidators, furnishing at the same time Coopers and Lybrand, were appointed joint appropriate supporting evidence. and several receivers of the Alfred Grant It is envisaged that advertisements seeking group of companies by the group's major claim to such funds will be lodged in appro­ creditor, Partnership Pacific Limited. priate overseas newspapers. In addition, the On 12 July 1976, Messrs. J. G. A. Tucker receivers and liquidators will write to persons and R. H. Peldan, members of the account­ who potentially have a claim against these ing firm of Messrs. Hungerfords were trust funds at the last addresses known to the appointed liquidators of Alfred Grant Pas­ receivers and liquidators. toral Properties Pty. Ltd., a major member Once all such claims are received, it is of the Alfred Grant group of companies. envisaged that the receivers and liquidators Since then, the receivers and liquidators have based upon the best information available to been attempting to reconcile the affairs of the them, will make a distribution of the trust Alfred Grant group of companies. However, funds. The receivers and liquidators will be major problems have been experienced by required to certify that each distribution made the receivers and liquidators in attempting by them is based on the best information to achieve a reconciliation. available to them in Australia. Amongst major contributing factors to the It is envisaged that where specific amounts difficulties experienced by the receivers and are able to be identified in relation to specific liquidators was the fact that there appear purchasers, a full refund of trust monies will to be substantial discrepancies between the be possible. However, in those cases where accounting records maintained by the Alfred specific amounts of trust funds cannot be Grant group of companies in Queensland and attributed to specific purchasers, it is envi­ records maintained by that group's agents, saged that the receivers and liquidators will Capricornia Finance and Marketing Cor­ make a rateable distribution. poration Limited. In addition, fluctuations in Provided that the receivers and liquidators, the exchange rates between the United King­ in good faith, make the distribution of trust dom and Australia affected the value of sums funds in accordance with the provisions of of money transmitted to Queensland from this scheme, the legislation will envisage the United Kingdom. that they, their employees and agents will be The receivers and liquidators are now in given a personal indemnity by the Queensland the position that they hold approximately Government to the extent of Queensland's $500,000 in trust in Queensland on legislative power. This will ensure that the behalf of persons who have purchased land receivers and liquidators, their employees and from the Alfred Grant group of companies. agents, in their personal capacity only, will Insufficient funds are now available to not be subject to any civil or criminal lia­ develop the proposed subdivisions to the posi­ bility arising out of the distribution of the tion where an individual certificate of title trust funds held in Queensland in accordance would be able to be granted to purchasers. with the provisions of the scheme. In these circumstances, the receivers and The legislation will further envisage that liquidators now find themselves in a position if further trust funds are subsequently where there is no course of action readily received by the receivers and liquidators from available to them. overseas sources, these funds will be dealt The receivers and liquidators have received with in accordance with the provisions of the extensive legal advice from senior counsel, scheme and a similiar personal indemnity, but no appropriate course of action is avail­ to the extent of Queensland's legislative able to them. This legal advice has been power, will be given to the receivers and examined by the Solicitor-General who has liquidators, their employees and agents. advised that there is no course of action This course of action has been adopted in readily available to the receivers and liquida­ order to resolve a problem which current tors to distribute the trust funds currently legislation does not provide for. It is not held in Queensland on behalf of purchasers envisaged that similiar problems will occur from the Alfred Grant group of companies.
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