Long Title |
The purpose of this Bill is to repeal the Western Australian Development Corporation Act 1983 and the Western Australian Exim Corporation Act 1986. Passage of the Bill will allow WADC and Exim to return approximately $12.6 million and $4.4 million respectively to the Consolidated Fund as anticipated in the 1997/98 budget. WADC and Exim have been liquidating their assets since 1990 when the then Minister for Finance and Economic Development, the Hon. Ian Taylor, issues a written direction to the corporations that they liquidate their affairs. This liquidation process has now been completed and the corporations are in a position to return all of their remaining assets, which are in liquid form, to the State. |