“The previous Government’s announcement has caused significant disruption to the operation of Australia’s capital markets and has effectively prevented any new scrip for scrip transactions”, Mr Bowen said. “It is quite clear that there was insufficient consultation with the private sector by the previous Government in relation to this decision. I have asked the Treasury to consult with the private sector about how this situation will be resolved. This situation is quite urgent, it is necessary that this consultation be conducted expeditiously, and be completed by mid-February."
For a copy of the media release, No 2008/001, go here