❓ Mr. McGowan asks about the expiry of requirements for Bankwest to maintain branches, staff, and community initiatives in WA, and seeks assurance of their extension. The Treasurer acknowledges the question, confirms Bankwest's compliance and commitment, and promises future discussions on ongoing conditions.
AnsweredQoN 918Legislative Assembly
QuestionView source ↗
BANK OF WESTERN AUSTRALIA AMENDMENT ACT —
REQUIREMENTS
918. Mr M. McGOWAN to the Treasurer:
I refer to the Bank of Western Australia
Amendment Act 2012 and in particular to the division 3 requirement that
Bankwest retains a minimum of 88 branches across Western Australia, key staff
and local sponsorship and community development initiatives in Western Australia
for a five-year period.
(1) Do these requirements expire
next year on 3 July?
(2) Will the
government commit to extending the life of these provisions, ensuring jobs and
financial services to people in metropolitan and regional Western Australia?
REQUIREMENTS
918. Mr M. McGOWAN to the Treasurer:
I refer to the Bank of Western Australia
Amendment Act 2012 and in particular to the division 3 requirement that
Bankwest retains a minimum of 88 branches across Western Australia, key staff
and local sponsorship and community development initiatives in Western Australia
for a five-year period.
(1) Do these requirements expire
next year on 3 July?
(2) Will the
government commit to extending the life of these provisions, ensuring jobs and
financial services to people in metropolitan and regional Western Australia?
AnswerView source ↗
(1)–(2) Thanks
for the question. As for the particulars, the owners of Bankwest have certain
requirements relating to those and they report to the Treasurer regularly—on
my watch it has been every year—and they have met them. They have
indicated to me a commitment to continue to meet them. Bankwest has a commitment
to expand business in Western Australia. At one time, it tried to expand over
east, but it has concentrated its activities here. In the fullness of time,
when we sit down to discuss the requirements early next year, we will discuss
the ongoing conditions and I expect Bankwest to continue to meet those
requirements. There will be no push back, I guarantee, from Bankwest.
for the question. As for the particulars, the owners of Bankwest have certain
requirements relating to those and they report to the Treasurer regularly—on
my watch it has been every year—and they have met them. They have
indicated to me a commitment to continue to meet them. Bankwest has a commitment
to expand business in Western Australia. At one time, it tried to expand over
east, but it has concentrated its activities here. In the fullness of time,
when we sit down to discuss the requirements early next year, we will discuss
the ongoing conditions and I expect Bankwest to continue to meet those
requirements. There will be no push back, I guarantee, from Bankwest.
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