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Western Australian Development Corporation
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Western Australian Development Corporation : ウィキペディア英語版
Western Australian Development Corporation
The Western Australian Development Corporation (WADC) was a trading corporation established in 1983 by the first Burke Ministry of Western Australia. It enabled the state Labor government to involve itself in large-scale business transactions without the normal transparency and accountability of government-guaranteed corporations, and was part of what became known as WA Inc. It appointed John Horgan chairman on a salary of $800,000 p.a., and formed subsidiaries including Exim Corporation which sought to create and exploit export markets for education and other products. The enabling Act provided that "(4.3) The Corporation is an agent of the Crown in right of the State and enjoys the status, immunities and privileges of the Crown..." while "(4.4) Notwithstanding subsection (3), the Corporation shall not be subject to direction by the Minister..."〔Parliament of Western Australia: (Western Australian Development Corporation Act 1983 (No. 87 of 1983) ) at Australasian Legal Information Institute
The WADC's powers and accountability were heavily amended by succeeding governments which finally wound up its operations and repealed its enabling Act on 30 June 1998.〔(WADC and WA Exim Corporation Repeal Bill 1998 ) at Parliament of W.A.〕
==Origin of concept==
The Australian Labor Party (WA Branch) state platform was amended at the party's August 1982 state conference to record a resolution that a Labor Government would "actively participate with private enterprise to establish a financial institution to be known as the Western Australian Development Corporation, for the purpose of attracting major inflows of capital to Western Australia and developing the Western Australia-based finance market".〔(WA Inc Royal Commission Report, Vol.II ) 19 October 1992, at State Law Publisher, Government of WA〕 On the day after the 1983 state election, the incoming premier Brian Burke met with Laurie Connell, who was to become a regular financial adviser, and others, to whom he announced that he wanted to be involved with people in the local business community, and that the new government would set up the WADC.〔

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