Inquiry into the Private Equity Investment and its Effects on Capital Markets and the Australian Economy
Terms of Reference
On 29 March 2007, the Senate referred an inquiry into private equity investment and its effects on capital markets and the Australian economy to the Standing Committee on Economics.
The terms of reference for the inquiry are as follows:
That the Senate, noting that private equity may often include investment by funds holding the superannuation savings or investment monies of millions of Australians, and because of the actual and potential scale of private equity market activity, refers the following matters to the Economics Committee for inquiry and report by
20 June 2007 (see below for extension of time):
- an assessment of domestic and international trends concerning private equity and its effects on capital markets;
- an assessment of whether private equity could become a matter of concern to the Australian economy if ownership, debt/equity and risk profiles of Australian business are significantly altered;
- an assessment of long-term government revenue effects, arising from consequences to income tax and capital gains tax, or from any other effects;
- an assessment of whether appropriate regulation or laws already apply to private equity acquisitions when the national economic or strategic interest is at stake and, if not, what those should be; and
- an assessment of the appropriate regulatory or legislative response required to this market phenomenon, if any.
The Committee is to report to the Senate on 16 August 2007.
The Committee invites written submissions, which should be sent to:
Committee Secretary
Senate Economics Committee
Department of the Senate
PO Box 6100
Parliament House
Canberra ACT 2600
Australia
The closing date for submissions is Friday, 27 April 2007.
The Committee requests that where possible, submissions should also be provided by email to economics.sen@aph.gov.au, preferably as MS Word or RTF format documents. Notes to assist in preparing submissions are available from the website https://www.aph.gov.au/senate/committee/wit_sub/index.htm or telephone the Secretariat on 02 6277 3540, fax: 02 6277 5719, or e-mail at the above address.
Once the Committee accepts your submission, it becomes a confidential committee document and is protected by Parliamentary Privilege. You must not release your submission without the Committee’s permission. If you do, it is not protected by Parliamentary Privilege. At some stage during the inquiry, the Committee normally makes submissions public. Please indicate if you want your submission to be kept confidential.
Inquiries from hearing and speech impaired people should be directed to the Parliament House TTY number (02 6277 7799). Adobe also provides tools for the blind and visually impaired to access PDF documents. These tools are available at: http://access.adobe.com/. If you require any special arrangements in order to enable you to participate in a committee inquiry, please contact the Committee Secretary.
If you need any further information, contact the Committee's Inquiry Secretary
Mr Peter Hallahan, on (02) 6277 3541 (phone), (02) 6277 5719 (fax); or by email to economics.sen@aph.gov.au or by writing to:
Committee Secretary
Senate Standing Committees on Economics
PO Box 6100
Parliament House
Canberra ACT 2600
Australia
Phone: +61 2 6277 3540
Fax: +61 2 6277 5719
Email: economics.sen@aph.gov.au
For further information, contact:
Committee Secretary
Senate Standing Committees on Economics
PO Box 6100
Parliament House
Canberra ACT 2600
Australia