Page 1257 - Week 05 - Thursday, 25 June 1992
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The final addition to the list of authorised investments is made in conjunction with the amendments contained in the Trustee Companies (Amendment) Bill 1992, which I have just presented, relating to the establishment of trustee company common funds. This amendment will allow trustees to invest in common funds which are restricted to investing in trustee investments authorised under ACT law. This gives a greater range of investment options to trustees generally by enabling trustee companies in the ACT to pool investments with related trustee companies interstate and overcome the restrictions of the size of the Canberra market which might otherwise make it uneconomic for them to offer common fund facilities to their clients. The restriction to authorised investments will serve to protect the beneficiaries for whom the trustees act.
The Bill also removes an outdated provision which restricts trustees in some cases from applying the capital of a trust for the maintenance and education of an infant beneficiary. This Bill clarifies a number of areas of trustee law and brings other areas into line with other jurisdictions. It is particularly important that we bear in mind that conflicts with New South Wales, in particular, in this area of the law can cause confusion and difficulty for people in the ACT. Where it can reasonably be achieved a consistent approach is desirable. The reforms in this Bill are both useful and sensible. I present the explanatory memorandum for the Bill.
Debate (on motion by Mr Humphries) adjourned.
DIRECTOR OF PUBLIC PROSECUTIONS (AMENDMENT) BILL 1992
MR CONNOLLY (Attorney-General, Minister for Housing and Community Services and Minister for Urban Services) (10.38): Madam Speaker, I present the Director of Public Prosecutions (Amendment) Bill 1992.
Title read by Clerk.
MR CONNOLLY: I move:
That this Bill be agreed to in principle.
This Bill encapsulates the first review of the Director of Public Prosecutions Act 1990 since that Act was passed just over two years ago. It comes almost a year after the establishment of the ACT Office of the Director of Public Prosecutions and the appointment of our first DPP, Mr Crispin. During that time a number of gaps in the legislation have come to light. In August 1991 the Director of Public Prosecutions brought to my attention certain legal impediments to the proper execution of his duties. Regulations were made prescribing additional functions to overcome these impediments.
One of these functions sought to enable the DPP to prosecute Commonwealth offences, a capacity necessary for the effective prosecution of cases involving both Commonwealth and Territory offences. The DPP is of the view that the regulation does not adequately overcome the lack of capacity to prosecute Commonwealth offences, particularly in relation to summary proceedings. This view is shared by the Commonwealth. The Bill addresses this problem by proposing amendments to the Act that will enable the director and staff to be authorised to prosecute Commonwealth offences. An additional function has been included of representing the Commonwealth DPP to enhance the ACT
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