Inquiry into Car Dealership Financing Guarantee Appropriation Bill 2009
Information about the Inquiry
Download this document (PDF 14KB)
On 16 June 2009, the Senate referred the Car Dealership Financing Guarantee
Appropriation Bill 2009 to the Economics Legislation Committee for inquiry and
report by 23 June 2009. In undertaking the inquiry, the committee is also to
hear evidence about the operation and management of the OzCar Scheme.
On 5 December 2008, the Treasurer announced the establishment of a Special
Purpose Vehicle (SPV) to provide liquidity to eligible car dealers who had been
left without wholesale floor plan financing as a result of the departure of GE
Money Motor Solutions and GMAC from the Australian market following the onset of
the global financial crisis. The SPV – otherwise known as 'OzCar' – was legally
established as a Trust on 2 January 2009.
The bill establishes an appropriation for the Government’s guarantee of certain securities issued by the SPV.
Further
information about the OzCar scheme can be found at the Treasury website at
http://www.treasury.gov.au/contentitem.asp?NavId=&ContentID=1536.
The Committee invites written submissions which should be sent to:
Committee Secretary
Senate Economics Committee
PO Box 6100
Parliament House
Canberra ACT 2600
Australia
The closing date for submissions is Friday, 19 June
2009.
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, consult the Committee’s website at
https://www.aph.gov.au/senate_economics/ or contact the Committee Secretary
on (02) 6277 3540 (phone); (02) 6277 5719 (fax); or by email to
economics.sen@aph.gov.au; or by writing to the above address.
For further information, contact:
Committee Secretary
Senate Economics Committee
PO Box 6100
Parliament House
Canberra ACT 2600
Australia