Page 3432 - Week 09 - Thursday, 21 August 2008
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the Chief Minister and the Deputy Chief Minister—
have over TOCs.
So they have influence. What did they do with that influence, Mr Speaker? They left Rhodium rudderless, and thereby let down the people of the ACT who, indeed, own an asset that is now probably worthless or worth very little. In paragraph 4.27 the committee goes on to say:
In Rhodium’s case the Committee is left with the impression from the Board minutes of an organisation still finding its way and waiting for a political decision.
A decision from the shareholders. It goes on:
As the chair put it the Board was “looking for … some guidance from the government in terms of its expectations of us.” The Board was getting—
(Quorum formed.) It is great to see that the shareholders have arrived, because what the committee says is:
… the Committee is left with the impression—
Mrs Dunne: The shareholder is just leaving again. He doesn’t want to hear it.
MR SMYTH: The chief shareholder has just bolted. He does not want to hear it. The committee says in paragraph 4.27:
In Rhodium’s case the Committee is left with the impression from the Board minutes of an organisation still finding its way and waiting for a political decision.
Mr Seselja: I occasionally come down—
MR SPEAKER: Order, Mr Seselja!
MR SMYTH: There goes the other shareholder. Just as they failed in their responsibility to the board, the shareholders are now failing their responsibility to the Assembly by bolting. Paragraph 4.27 continues:
As the Chair put it the Board was “looking for … some guidance from the government in terms of its expectations of us.” The Board was getting “not formal but informal mixed messages about Rhodium’s future.”
Mr Seselja: Backroom discussions.
MR SPEAKER: I have called you to order once, Mr Seselja.
MR SMYTH: I move on to paragraph No 4.29. You would think that the shareholders would know what they were doing, but they failed to agree. Indeed, even the Chief Minister told the committee:
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