Peter Rae

Who is Peter Rae?

Peter Elliot Rae AO was an Australian Senator who represented the Liberal Party for the state of Tasmania. He served as a Senator for from 1967 until his resignation in January 1986. He was subsequently elected to the division of Bass in the Tasmanian House of Assembly at the February 1986 election.

Rae served as a Shadow Minister with portfolios that included Industry and Commerce, Finance, and Education and Science.

Rae led a four-year investigation of the capital markets of Australia, particularly the Stock Exchanges. The ‘Rae Report’ led to the establishment of what is now the Australian Securities and Investments Commission. He was also leader of several of the Australian delegations to European Parliament, the Council of Europe and NATO. Senator Rae worked to amend the Constitution Alteration Bill 1977 to provide for direct election of replacement senators by Tasmanian-style countback, instead of the indirect party political appointment system that was eventually instituted.

Following his period as an elected member, Rae practiced law at Rae & Partners law firm in Tasmania. In the term 1993 - 2004 he served as Chair of the Hydro-Electric Commission.