by Australia Po*t Publication No NBP 1482 JULY-SEPTEMBER, 1991 f / \ i The magazine of THE NAVY LEAGUE OF AUSTRALIA iSO VIEWPOINT RNZN FIFTIETH ANNIVERSARY COUNTESS OF HOPETOUN NAVAL NEWS UPDATE DEFENCE REVIEW LCHs GET TOGETHER PARRAMATTA GUN ON SHOW BOOK REVIEWS ROLLOVER OPPORTUNITIES Raofcrarad b, AutfraMa Pott PuMtoMWH No HUP 14*2 Reproduction m part or whole is forbidden GUARANTEED SECURITY, EXCELLENT RETURNS THE NAVY without the permission ot the Editor in writing AND SIGNIFICANT TAX ADVANTAGES The magazine of THE NAVY LEAGUE OF AUSTRALIA Equity Life is a leader in the provision of secure, tax efficient rollover plans. For those receiving an Eligible Termination Payment (typically from your superannuation fund or employer) and Vol 53 JULY — SEPTEMBER, 1991 No. 3 plan to continue in the workforce, then Equity Life's Capital Guaranteed Rollover Deferred Annuity is for you. 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Phono 6052559 <W) The Guaranteed Income Annuity is a short-term (3 or 4 years) investment suited to anyone who wishes to secure a HEW SOUTH WALES DIVISION 3 PMron: H* E<C«Stncy. Tho Govamor oi Now South WaJos high investment return and a regular income. This fund is particularly attractive to those investors seeking to PraaMant: R O AbOfT. RFO. RD minimise tax as no provisional tax is payable on the income from this rollover investment. Further, this fund offers Hon Sacratary: J C J Jappatan. OAM. RFD GPOBoi 1719. Sydnay. NSW. 2001. ^ high security and the investment rate of return is guaranteed for the period of the investment. There are no entry or Phona: 570 $425 VICTORIAN DHWON exit fees. Equity Life also offers longer term, secure, income plans. Patron: Hu Exoolancy. Tha Oovamor ot Victoria. * PraaMant: John Bird Naval Matters 6 To find out more, simply telephone (008) 33 1782, or write to us at- y: Natl Maadan. 4 E laanor Court, Donvala. Vic 31 i 1 Phona: 642 3156 Freepost 23 (no stamp required). Equity Life Ltd, PO Box 225, Collins Street, Melbourne, 3000 PMron: •*• E*ca4ancy. Tha Govamor of Cuaantiand Jtl IIII^M PraaMant: A H Robaiuon. OAM. v AD. 42 Gipandr* straat. Indooroopily. CM, 4066 Phona 870 1272 ^^ * us r KALIAN CAPITAL TERRITORY DrvtstOH Patron: Admiral Sir Victor Snvth. AC. KBE, CB. DSC. RAN (Hid) Countess of Hopetoun — PraaMant: H A Jcsapnv AM. EQUITY^ LIFE Hon Baoratary: E M. Mahonay. 45 Stunrtor Straat. Cook. ACT. 2614. i Phona: 251 1633. SOUTH AUSTRALIAN MMNM Equity Life Limited Patron: Hu Euaiancy. Tha Govamor o' South Audraka. PraaMant: D M Schrapai A.C.N. 006 381193 HonScratary:Mr*tJ E &». GPO Bo* 1529. Adalafcfc.SASOOt Phona: 347 1965 Major Shareholders: Helm Corporation and the National Mutual Life Association of Australasia Limited. TASatAMAN DTVBrON Exercise Squadex' - M Patron: HU E*oa*ancy. Tha Govamor ot Tavnania LCHs Get Together 12 PraaMant: M J Coopar Hon Sacratanr: Mr; j M Coopar. 42 Amy Road, Launcosion. Tat. 7250. IM Phona 44 1531 m WEST AUSTRALIAN DNM0N Patron: •** Excalancy. Tha Govamor ot Wtitarn Auatrala PraaMant: L F w VKAndga, OBE. VRO. The Capture ol FBI Hon Sacratary: Mrs G HawU. 23 Lavrlar Road, Attadala. WA. 6156. MV KRAIT 14 uafafl* a Phona: 330 3600 HBHtVc'' / STATE_ NORTHERN TERRITORY DtVtttON FINANCIAL Patron. Hit Honour. Tha Ado*™*raw OooM _GROUP G Road. GPOBo« 2612. Dontfn. NT. 0601 Naval News 17 i Wm BoMho. AM Chairman ANNA Vica Admiral S>r Richard Paak. KBE. CB. DSC. RAN (Rid) **&. ;• i Admiral Sir Victor Smith. AC. KBE. CB, DSC, RAN (Rid) *• JEAN-PIERRE BUISSON Admiral Str Anthony Synnot. KBE. AO. RAN (Rid) fi^SJF'Mr-' ADVERTISING AND PUBUCATrOM PARRAMATTA ASSOCIATE •• -™ •••• *•••»*• PorcivilPuNtshrngCo-PTvLld. .S3 4 KtinNSW) • Financial Planning • Superannuation (PSF-SEF) • Compulsory Tax Free NSW 20)7. Phona: (02) 319 6231 370 una Boor*. Straat. Mttoourna. 3000 ... Savings • Rollovers • Annuities • Disability Insurance • Income Protection Phona: (03) 670 4321 Waterfront. Ports ill •MUM and Shipping ?4 • General Insurance (cars, boats, buildings, contents) 2nd Roor. 97 Cuma Straat AcNiUdi 5000 Phona (06) 231 6225 PERTH 2 (MM Stntat Ml Lavrlay. 6060 H *i E Any Financial Consultations & Inquiries are Free - Please Call • Phona: (08) 370 1500 Fa*: (09) 370 1661 .JPl Royal New Zealand Navy J* 3rd Floor. 480 Ann Straat Bnabana 4000 Phona (07) 832 2531 - Fiftieth Anniversary 28 Tht opiirkMS or atstrtktm tipmsod hi arttoln hi "Tht Nwyttt 751 1885 V thote oi the authors and art not necemhiy tnttt of Hw Federal Council ol The Nivy League of Australia. Hit Editor oi "The Ntvy I :^£t#s or Tht Royal tostraHM Hwy. /A^tSli/ FIRST STATE FINANCIAL GROUP PTY LTD /Alflli/ OUR FRONT COVER PHOTOGRAPH . -'•*>" ,•- 111 PHILLIP STREET, PARRAMATTA, NSW, 21S0 HMNZSINVEREU. July 1972. See RNZN 50th i TELEPHONE: (02) 891 4444 • FAX: (02) 689 1414 • AH: (02) 712 3272 • PAGER NO: 751 1885 Anniversary article -• The Nmy, Juhr-Saptamber, INI 1 fttrinn a •****p§w 00i tit << rotrii ig has the points you E3 FORCE STRUCTURE REVIEW need — whatever your INGERSOLL-RAND - EMPHASIS ON MARITIME NEEDS applk ation! Engineered Equipment Sector The recently completed Australian Defence Force Structure Review (FSR) confirms that Leading Australian Manufacturer and Australia's maritime defence capabilities rank high in the objectives of those responsible for the -** ^flL Disposable system Supplier of nation's security. The FSR is not a strategy review and the policies outlined in the 1987 Defence <4^P MPP Plot Points Shipboard Pumps, High Pressure and Low White Paper are unchanged. Pressure Air Compressors and Complete iven that funds available for defence arc likely to be limited economic and political climate, which seems unlikely to change in -y * India-ink permanence for some years lo come (unless of course a presently the short or medium term, the responsibility of the Navy League and ^V" - through life support * , * No maintenance headaches Gunforeseen emergency arises) the structure review ordered by other like-minded organisations and people to ensure that Head Office: the government twelve months ago was necessary and appears to governments honour (heir promises to provide the nation with an have been carried out with a high degree of co-operation between the effective defence force, is considerable. When one adds "no threat" W/y > BefifaWe system - FRANKSTON ROAD, OANDENONG Services and between the uniformed and civilian members of the scenarios and changing social values, the task of promoting national J BC, BT, BTS Plot Points defence hierarchy. security in peacetime will be even more difficult than it has been in The purpose of the review was to maintain as far as possible the the pasi. ^ * Ultimate precision Phone: (03) 794 1611 proportion of funds available for capital equipment and works, funds * Speciol opplica'ion flexibility thai in percentage terms languished in the 'teens throughout the m£i ninctccn-scvcnlics and early 'eighties before rising to the vicinity of Fax: (03) 794 9659 30%: Inevitably other major expenditure categories, notably personnel (uniformed and civilian) and day-to-day running expenses, had to be pruned. Jtf• L FIBRE-IP Plot Points The changes arc planned to lake place over a period of ten years NOTE A report by A.W. Grazebrook on naval equipment ^^^^g * Economy and will certainly not happen overnight. Indeed, in some respects it mentioned in the FSR appears on page 6. ^^^P| • Vivid colour SEE US FOR TOMORROW'S seems a rather long period as it will be many years before some m BK! * Superb fiW-ms ^^^ urgently needed items, such as airborne early warning and control TECHNOLOGY aircraft and a training/helicopter support ship, can be brought into service. 1 NEWSPAGER Changes in the structure of the Army will undoubtedly cause anguish in many quarters, in particular the decision to shed over 5000 regular personnel and introduce a "ready reserve" of 3200. It has CORPORATE been calculated that the cost of ready reservists will be less than half £ <J ^^f (42%) thai of regulars, but this remains to be proved as docs the ability of the Army to attract the necessary number of recruits even MEMBERS with generous inducements. The Navy and Air Force arc also to each have a "ready reserve" but the numbers arc much smaller — 450 in each Service. Whether the "ready reserve" and existing "ordinary" Computer Sciences of Australia reserve w ill sit comfortably together, only time will tell. Regular Air Force personnel will be reduced by over 4,000, Pty. Ltd. proportionately more than cither the Navy or Army. The Air Force jj rapirlograph Putt a world ol intormtton Ths PaQSf t in your fiOOm ' News works wnsrs you'nj has been more "self-contained" than the other Services, the Navy in ^m Technical Pen * Slocks' Wssthsr ttc uMti lo working p. particular always having had a substaniial civilian support clement in Dunlop Aerospace Australia its structure, a feature which will now be more widely applied in the ^^W # Instant ink flow ADR It was one of the reforms recommended by the Wriglcy Report # H/gft reliability and generally regarded as acceptable.