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Legislative Assembly for the ACT: 1999 Week 7 Hansard (1 July) . . Page.. 1950 ..

MR SMYTH

Unfortunately, the amendments to the Land Act that were passed in December 1996 included an addition of subsections 184Q5) and 187Q5), which provide that regulations made for the remission or increase of CUC cannot commence until they "could have been disallowed" under the Subordinate Laws Act. The effect of those provisions is that commencement of the amendments to the regulations may be delayed by up to 30 sitting days. In the meantime, lessees who should pay 50% will pay 25%, while those who should pay 100% will pay 75%.

In moving these amendments to the Land Act today, the Government is seeking to place the ACT in a more certain and equitable environment, where initiative is encouraged but the benefits are shared by the community as well as those who are showing preparedness to take risk.

Of course, by making these changes now it means we will be going to 'model eight', with the expectation of yet further change when the longer-term recommendations of the Nicholls Report are fully considered.

This new model, however, is the first important step towards providing investors with the level of stability, transparency, timeliness, equity and certainty that is so essential in order for investment in the ACT to continue.

For those reasons, the amendments proposed today should be supported by all members.

Debate (on motion by Mr Corbell ) adjourned.

MR SMYTH (Minister for Urban Services) (11.05): Mr Speaker, I present the Motor Traffic (Amendment) Bill (No. 2) 1999, together with its explanatory memorandum.

Title read by Clerk.

MR SMYTH: Mr Speaker, I move:

I seek leave to have the presentation speech incorporated in Hansard.

Leave granted.

The speech read as follows:

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