Company Appointment Causes Political Stir

Press, Volume C, Issue 29510, 11 May 1961, Page 19

Company Appointment Causes Political Stir

thZ Pres* Association—Comjnoht,

CANBERRA, May 8.

A political stir has been caused by the announcement that the chairman of the Commonwealth Banking Corporation, Mr W. D. McDonald, has been appointed a director of Imperial Chemical Industries of Australia and New Zealand, according to the Melbourne “Herald's" chief Canberra correspondent.

The Government will be asked this week whether it considers that the acceptance by Mr McDonald of a place on the 1.C.1.A.N.Z. board may involve a conflict of interests between that company and the Commonwealth Banking Corporation, the correspondent said. Mr Daly (Labour. New South Wales) has tabled a series of questions to the Treasurer, Mr Holt He

asks: Whether Mr McDonald receives a salary of £6500 a year as chairman of the Banking Corporation to obviate the necessity for participation in private business activities. Whether the terms of Mr McDonald's appointment as chairman of the bank impose any conditions on his engagement in outside activities, or whether he is free to accept directorships or appointments with other organisations as he chooses. Whether, if the chairman of the Banking Corporation can engage freely in outside activities, heads of other Commonwealth instrumentalities and senior public servants will be allowed to accept similar outside appointments.