Territory Stories

The Northern Territory news Sat 6 Nov 2010



The Northern Territory news Sat 6 Nov 2010

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NT news


The Northern Territory news; NewspaperNT




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Community newspapers -- Northern Territory -- Darwin; Australian newspapers -- Northern Territory -- Darwin

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Nationwide News Pty. Limited

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Copyright. Made available by the publisher under licence.

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Nationwide News Pty. Limited



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www.ntnews.com.au Saturday, November 6, 2010. NT NEWS. 29 P U B : N T N E W S D A T E : 6 -N O V -2 0 1 0 P A G E : 2 9 C O L O R : C M Y K IN YOUR Parliament OCTOBER 2010 SITTINGS BILLS PASSED IN THE OCTOBER SITTINGS Personal Injuries (Liabilities and Damages) Amendment Bill 2010 (Serial 115) Territory Parks and Wildlife Conservation Legislation Amendment Bill 2010(Serial 117) Oaths, Affidavits and Declarations Bill 2010 (Serial 118) Oaths, Affidavits and Declarations (Consequential Amendments) Bill 2010 (Serial 119) Mineral Titles (Consequential Amendments) Bill 2010 (Serial 121) Criminal Code Amendment (Mental Impairment and Unfitness for Trial) Bill 2010 (Serial 122) Territory Insurance Office and Other Legislation Amendment Bill 2010 (Serial 123) Penalties Amendment (Justice and Treasury Legislation) Bill 2010 (Serial 124) BILLS CURRENTLY BEFORE THE PARLIAMENT Information Amendment (Fees) Bill 2009 (Serial 83)* Criminal Code Amendment (Penalties for Certain Assaults) Bill 2010 (Serial 113)* Inquiries Amendment (Penalties) Bill 2010 (Serial 114)* Criminal Code Amendment (Arson) Bill 2010 (Serial 116)* Superannuation Legislation Amendment Bill 2010 (Serial 125) Environmental Offences and Penalties Amendment Bill (No. 2) 2010 (Serial 126) Human Tissue Transplant Amendment Bill 2010 (Serial 127) Domestic and Family Violence Amendment Bill 2010 (Serial 128) Fire and Emergency Amendment Bill 2010 (Serial 129) Telecommunications (Interception) Northern Territory Amendment Bill 2010 (Serial 131) Consumer Affairs and Fair Trading Amendment (National Uniform Legislation) Bill 2010 (Serial 132) Child Protection (Offender Reporting and Registration) Legislation Amendment Bill 2010 (Serial 133) Care and Protection of Children Amendment (Additional Functions) Bill 2010 (Serial 134)* *Private Members Bill For Further Details: A summary description of Bills passed and before Parliament is available via the website http://www.nt.gov.au/dcm/legislation/parliament.html. Alternatively, a copy of the summary description of these Bills can be obtained by phoning 8901 4079. The full text of Bills can be found at http://www.nt.gov.au/dcm/legislation/current.html. Once they receive assent, Acts will be on sale at the Government Printing Office, Railway Street, Parap or via GPO Box 1447 Darwin NT 0801 and the Alice Springs Access Centre, Westpac Building, Todd Mall, Alice Springs or via PO Box 1071 Alice Springs NT 0871. Legislation (both in print form and online) can also be accessed at the NT Library in Parliament House, Darwin. m g 1 9 0 6 3 1 MINISTERIAL STATEMENTS Hon Delia Lawrie MLA Enough is Enough - Proposed Alcohol Reforms ntnews.com.aul l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l SATURDAY EXTRA Sir Ralph bolts from backlash Commonwealth Bank CEO Ralph Norris mansion in Potts Point, Sydney WHATTHEY EARN Westpac CEO: Gail Kelly Salary: $10.6 million Banks 2010 profit: $5.88 billion Mortgage value: $184,755 million ANZ CEO:Mike Smith Salary: $10.9 million Banks 2010 profit: $4.5 billion Mortgage value: $107,614 million NAB CEO: Cameron Clyne Salary: $5.2 million Banks 2010 profit: $4.2 billion Mortgage value: $101,098million CBA CEO: Ralph Norris Salary: $16.2 million Banks 2010 profit: $6.1 billion Mortgage value: $169,375 million Strangely, his multimillion-dollar Darling Point home is still mortgaged by Westpac By ANDREW CARSWELL HAVING orchestrated a preChristmas pilfer of his customers savings, Sir Ralph Norris suddenly went missing in action, unaccountable to a public baying for blood. The Commonwealth Bank chief fled the country before his bank announced a shock 0.45 per cent interest rate hike on Melbourne Cup Day. Nobody seemed to know where he was, until yesterday when the man himself revealed he was jetsetting across China to attend meetings with institutional investors. He has yet to give an explanation for the pain inflicted on his 900,000-odd variable mortgage customers, giving the green light for the Melbourne Cup plunder from afar. Such explanations, perhaps deviously, were left to Westpacs Gail Kelly who held an illtimed media conference to announce her banks record $6.35 billion annual profit, only to spend most of the time defending the banks apparent need to hike interest rates. Nobody wanted to talk about Westpacs results. Everyone wanted to talk interest rates. Sources said Ms Kelly was filthy with the timing. The Westpac chief said her team would begin interest rate deliberations and was refusing to rule out a rate rise above and beyond Tuesdays 0.25 per cent jump in the Reserve Banks cash rate. No decision has been taken as I stand here today, and our interest rates remain under review, she said. In coming to our position we also take into account a range of factors, in cluding the impact on all of our stakeholders and our competitive position. The ANZ Bank and the National Australia Bank have also yet to announce any interest rate decisions, but are widely tipped to follow the Commonwealth Banks lead. CBAs gigantic rate hike will add $100 to the monthly repayments of an average mortgage, a sting that will not be felt by Sir Ralph. Strangely, his multimilliondollar Darling Point home is still mortgaged by Westpac, while his $10 million luxury is land hideaway on New Zealands Waiheke Island is well outside the banks jurisdiction. It is at the latter a lush 8.6 ha property overlooking its own private bay, boasting its own caretakers cottage and pier and only accessible by helicopter or boat where Sir Ralph is expected to spend his Christmas holidays. Ms Kelly did concede Westpac had learned its lesson from its disastrous December when its first strike rate hike of 0.45 per cent left its public image in tatters. She also rejected any suggestion her bank was leaving the Commonwealth Bank out to dry by delaying their rate decisions. Funding costs remained high and business lending subdued, she lamented. But that message simply wasnt getting through. What we need is some really cool heads to actually better explain how the world has structurally changed and how it wont go back to how it was before, she said.

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