Mr RIOLI - 1995-05-18
Has the minister been approached by Elders Limited seeking an increase in its landholdings in the Northern Territory and, if so, will the minister approve further expansion of the land holdings of Elders Limited in the Territory?
ANSWER
Mr Speaker, there has been an approach by the Elders Corporation seeking approvals for extensions in the available area. Elders is one of the bidders in the purchase of the AA company shares. It is among the very large property holders in the Northern Territory. Certainly, it was exceeding the limits and does require ministerial approval. There is nothing to suggest per se that it would not properly look after the property and manage the estate effectively. However, some concern has been expressed to me that, if one combined the involvement of Elders in the ownership of extensive pastoral properties in the Northern Territory with its other role as a significant financier of a number of other properties in the Northern Territory and also with its involvement in the live cattle export industry, there is a potential for it to develop a serious, almost monopolistic, capacity within the cattle industry in the Northern Territory.
I have some concerns in relation to that. It is a matter that I and the Minister for Primary Industry and Fisheries will be addressing in the immediate future, not with the intention of getting stuck into Elders, but to ensure that we are not allowing monopolistic practices to emerge in this very important and growing area of the Territory's economy.
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ANSWER
Mr Speaker, there has been an approach by the Elders Corporation seeking approvals for extensions in the available area. Elders is one of the bidders in the purchase of the AA company shares. It is among the very large property holders in the Northern Territory. Certainly, it was exceeding the limits and does require ministerial approval. There is nothing to suggest per se that it would not properly look after the property and manage the estate effectively. However, some concern has been expressed to me that, if one combined the involvement of Elders in the ownership of extensive pastoral properties in the Northern Territory with its other role as a significant financier of a number of other properties in the Northern Territory and also with its involvement in the live cattle export industry, there is a potential for it to develop a serious, almost monopolistic, capacity within the cattle industry in the Northern Territory.
I have some concerns in relation to that. It is a matter that I and the Minister for Primary Industry and Fisheries will be addressing in the immediate future, not with the intention of getting stuck into Elders, but to ensure that we are not allowing monopolistic practices to emerge in this very important and growing area of the Territory's economy.
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Last updated: 09 Aug 2016