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(Extension of time granted) . . Page.. 916 ..

is part of being a good corporate citizen. Furthermore, being at the forefront in developing technologies that promote conservation of the environment is also good business. This confluence of good environmental practice and good business will not be compromised by a change in structure.

Mr Speaker, as an example, corporatisation will effectively allow ACTEW to commercialise products of our research and development such as FERRAQ, a program to remove phosphorus from sewage effluent entering Australia's rivers, reducing problems with blue-green algae. A corporatised ACTEW will commercialise its existing developments in innovative water recycling technology. ACTEW will be more readily accepted as a participant in joint business ventures by potential partners from the private sector once it has been corporatised. For example, significant markets are opening up for package sewage treatment plants in Indonesia, using the type of technology demonstrated in the Southwell Park water recycling plant.

In its corporate form, ACTEW will be better able to market its technological expertise beyond our shores. In this economic climate you cannot stand still. Everything that can be done should be done to enhance ACTEW's competitiveness in vying for overseas business - a very lucrative market indeed. ACTEW, and thus the residents of the Territory, have benefited from this entrepreneurial activity to date and will continue to do so after corporatisation. ACTEW has already identified potential trade links with our nearest neighbours, in particular China, Indonesia, Malaysia and Fiji.

In a corporatised form, with the increased flexibility that that entails, ACTEW will also be able to focus its efforts on the marketing of locally developed technology throughout Australia. In this regard ACTEW will be in an excellent position to build on substantial gains made to date. Late last year, for example, it helped the people of Cooma reduce the amount of phosphorus accumulating in the Murrumbidgee River. Recently it completed a water mining project at Southwell Park. These two projects attracted enormous interest from overseas and interstate. Mr Speaker, contracts that ACTEW can develop with overseas and local buyers will profit this community. To deny ACTEW the best ability to pursue such activities is folly in the extreme. Fittingly, that is the approach that the Labor Party endorses. That is a prohibitively high price to pay to satisfy their desire for a warm inner glow.

Mr Speaker, ACTEW will remain an open book. With corporatisation, it will be bound by the provisions of the Corporations Law and open to the scrutiny of the Australian Securities Commission. As with any large corporation, the financial records of ACTEW will be open to scrutiny by members of the community. Furthermore, this legislation will specifically bind ACTEW to the provisions of the Freedom of Information Act, the Privacy Act, the whistleblowers Act and the Ombudsman Act. It should also be said that ACTEW will be bound by all environmental controls as set out in statute. Just like every other business, ACTEW will comply with the law.

Rights that employees currently enjoy will be enshrined. Rights such as maternity leave, long service leave, parental leave, recreation leave and sick leave will continue without any change detrimental to individual workers. (Extension of time granted)

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