204B(1)(b)(ii) - disqualified directors
Dear Australian Securities and Investments Commission,
Please provide documents that list directors that have been:
1. Disqualified under a 204B(1)(b)(ii), or
2. Not registered as directors in the first place because they fail 204B(1)(b)(ii)
For fin years 2022-23 to 30 April 2023, 2021-22, and 2020-21
Yours faithfully,
Me
Good morning
Please refer to the attached correspondence.
Kind regards
Monique Lindridge
Freedom of Information Officer, Chief Legal Office
Australian Securities and Investments Commission
Level 5, 144 Macquarie Street, Hobart, 7000
[1][email address]
[2]ASIC logo
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Dear Monique,
Thank you for your letter.
You are quite right; I was not clear and gave the wrong reference. Sorry about that!
Could I amend my request such that it relates to Corporations Act 2001 (Cth) s 206B(1)(b)(ii). That is, automatic disqualification from managing a corporation if convicted of an offence involving dishonesty
If that doesn’t resolve the practical refusal issue please advise
Yours sincerely,
Me
Good afternoon
Thank you for your response to my notice dated 11 May 2023.
Can you please advise whether you are seeking access to a single document containing a list of the two requested categories of information or alternatively, existing documents held by ASIC that list the information requested?
ASIC does not ordinarily capture or report on data relating to disqualifications under section 206B(1)(b)(ii) of the Corporations Act 2001. However, most matters prosecuted criminally will trigger a section 206B(1)(b)(ii) disqualification. For this reason, I suggest that you revise the scope of your request to a list of successful criminal convictions and the corresponding ASIC media release reference number. You will be able to access the media releases by reference number on the ASIC website.
Revising your request as suggested would remove the practical refusal ground.
If you have any questions or wish to discuss, please contact me at [email address] or on 0466 290 017.
Monique Lindridge
Freedom of Information Officer, Chief Legal Office
Australian Securities and Investments Commission
Level 5, 144 Macquarie Street, Hobart, 7000
[mobile number]
[email address]
-----Original Message-----
From: Me <[FOI #10283 email]>
Sent: Thursday, 11 May 2023 12:12 PM
To: Monique Lindridge <[email address]>
Subject: Re: FOI 076-2023 - Draft decision [SEC=OFFICIAL]
EXTERNAL EMAIL: Do not click any links or open any attachments unless you trust the sender and know the content is safe.
Dear Monique,
Thank you for your letter.
You are quite right; I was not clear and gave the wrong reference. Sorry about that!
Could I amend my request such that it relates to Corporations Act 2001 (Cth) s 206B(1)(b)(ii). That is, automatic disqualification from managing a corporation if convicted of an offence involving dishonesty
If that doesn’t resolve the practical refusal issue please advise
Yours sincerely,
Me
-----Original Message-----
Good morning
Please refer to the attached correspondence.
Kind regards
Monique Lindridge
Freedom of Information Officer, Chief Legal Office
Australian Securities and Investments Commission
Level 5, 144 Macquarie Street, Hobart, 7000
[1][email address]
[2]ASIC logo
Please consider the environment before printing this document.
Information collected by ASIC may contain personal information. Please
refer to our [3]Privacy Policy for information about how we handle your
personal information, your rights to seek access to and correct
your personal information, and how to complain about breaches of your
privacy by ASIC.
This e-mail and any attachments are intended for the addressee(s) only and
may be confidential. They may contain legally privileged, copyright
material or personal and /or confidential information. You should not
read, copy, use or disclose the content without authorisation. If you have
received this email in error, please notify the sender as soon as
possible, delete the email and destroy any copies. This notice should not
be removed.
References
Visible links
1. mailto:[email address]
3. https://asic.gov.au/privacy/
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Please consider the environment before printing this document.
Information collected by ASIC may contain personal information. Please refer to our Privacy Policy<https://asic.gov.au/privacy/> for information about how we handle your personal information, your rights to seek access to and correct your personal information, and how to complain about breaches of your privacy by ASIC.
This e-mail and any attachments are intended for the addressee(s) only and may be confidential. They may contain legally privileged, copyright material or personal and /or confidential information. You should not read, copy, use or disclose the content without authorisation. If you have received this email in error, please notify the sender as soon as possible, delete the email and destroy any copies. This notice should not be removed.
Dear Monique,
Thanks for your reply
It seems odd that ASIC doesn’t capture that data. It would be directly relevant to some of ASIC’s performance measures?
Nonetheless, my understanding of s 206B(1)(b)(ii) is that it covers any conviction of any dishonesty offence where the maximum penalty is more than 3 months’ imprisonment.
That is very broad. It includes almost all theft offences in Australia.
So I assume that some people seeking to be directors are refused because they fail s 206B(1)(b)(ii), and that some existing directors are struck off [deregistered? Defrocked?] when they receive a relevant conviction. This is regardless of any criminal prosecutions pursued by ASIC.
I would like to know how many directors / office holders were (1) refused at first instance under a 206B(1)(b)(ii), and (2) were struck off when a relevant conviction for s 206B(1)(b)(ii) occurred.
What is the best way to phrase that request?
Possibly in addition, I would like the one most current and relevant internal policy document that sets out what ASIC does if/when it becomes aware of a s 206B(1)(b)(ii) conviction against an office holder
Thanks,
Me
Good morning
Please refer to the attached correspondence.
Kind regards
Monique Lindridge
Freedom of Information Officer, Chief Legal Office
Australian Securities and Investments Commission
Level 5, 144 Macquarie Street, Hobart, 7000
[1][email address]
[2]ASIC logo
Please consider the environment before printing this document.
Information collected by ASIC may contain personal information. Please
refer to our [3]Privacy Policy for information about how we handle your
personal information, your rights to seek access to and correct
your personal information, and how to complain about breaches of your
privacy by ASIC.
This e-mail and any attachments are intended for the addressee(s) only and
may be confidential. They may contain legally privileged, copyright
material or personal and /or confidential information. You should not
read, copy, use or disclose the content without authorisation. If you have
received this email in error, please notify the sender as soon as
possible, delete the email and destroy any copies. This notice should not
be removed.
References
Visible links
1. mailto:[email address]
3. https://asic.gov.au/privacy/
Dear Monique,
Thank you for your decision. Unfortunately for ASIC, I believe you that the documents don’t exist
I’m quite willing to assume that FOI / Legal aren’t tainted by ASIC’s general incompetence
That the documents don’t exist should be embarrassing for ASIC, and twig that they have a huge reputational risk. Mickey Mouse being a popular director was bad enough; now it turns out ASIC doesn’t bother preventing or removing convicted thieves and fraudsters from managing corporations. Even with the necessary statutory authority
It is entirely up to you, but if perhaps you agree this is an issue that should be dealt with, you might be willing to pass along my comments to the relevant area
Yours sincerely,
Me