Public Record Office Victoria
 
Series VPRS 11158
Records relating to the Royal Commission into the Tricontinental Group of Companies
About this Series Related Series Accessing the records in this Series
Date Range: Series ? 1990 - ? 1992
  Series in Custody 1990 - 1992
  Contents 1983 - 1992
Public Access: Closed
Location: North Melbourne
Format of Records: Physical
 
Agency which created this SeriesAgency which created this Series
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Date Range Agency Title Agency Number
1990 - 1992 Department of the Premier and Cabinet VA 1039
Agency currently responsible for this SeriesAgency currently responsible for this Series
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Date Range Agency Title Agency Number
1990 - cont Department of the Premier and Cabinet VA 1039
Description of this SeriesDescription of this Series
  • How to use the Records
    Refer to the Records Description List for this series to identify the unit (box) which holds the record.

    Function / Content

    This series was created and collected by the Department of Premier and Cabinet [VA 1039] in relation to the Royal Commission into the Tricontinental Group of Companies. The series documents the Departments involvement in the process of inquiry conducted by the Commission.

    The Commissions task was to determine what matters and events caused the collapse of Tricontinental and to investigate the nature and extent of any criminal, civil or administrative responsibility for the losses amongst persons in Government, State Bank Victoria (SBV) or its subsidiary, Tricontinental, or amongst auditors, valuers or advisers.

    The Commission issued two reports: Interim [First] Report in July 1991 and Final Report in August 1992. Key findings in relation to the Governments role included:

    the failure of Tricontinental was not due to any failure of the Government or individual Ministers or officers to properly supervise SBV or Tricontinental;

    no blame can be attached to the Department of Management and Budget for Tricontinental losses;

    the former Treasurer, Mr Jolly, and the Premier, Mr Cain, acted properly and responsibly at all times. The Premiers responsibility was more remote than that of his Treasurer.

    The Government oversight of Tricontinental was limited by the principle of commercial independence of the company. On the emergence of financial problems from 1989 the Government did all it could do to monitor and tackle those problems.

    The records contain following information:

    financial condition and performance of SBV and Tricontinental

    departmental and ministerial oversight of Tricontinental

    the involvement of the Treasurer and the Premier in attempts to deal with financial difficulties of Tricontinental.

    This is an accumulative series that includes copies of:

    Submissions
    Transcripts Summaries
    Reports
    Briefing Papers to the Premier
    Correspondence
    Diaries
    Statements
    Lists of Exhibits
    Press Clippings.

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Consignment Number Contents Date Range Public Access No. of Units
P0001 1983 - 1992 Closed 5
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