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Wednesday, 29 June 1994
Page: 2204


Senator MICHAEL BAUME —I give notice that, on the next day of sitting, I shall move:

  That the Senate—

(a) notes that:

    (i)the Australian Securities Commission (ASC) had not yet issued penalty notices to Danpork Australia Pty Ltd, Mr Keating's former piggery joint venture company, whose annual returns for both the 1991-92 and 1992-93 financial years have not yet been filed with the ASC in accordance with the Australian Corporations Law and are well overdue, according to evidence given by the ASC at recent Senate Estimates hearings, despite that fact that the ASC is currently issuing penalty notices in respect of returns for 1993 that are still outstanding, and

    (ii)the ASC's reason for not having issued penalty notices to Danpork Australia Pty Ltd is that Danpork is not its high priority for receiving a penalty because, as a new company registered only in 1991, it has no `record' of breaches of the reporting requirements, despite the fact that its only Australian director, Mr Constantinidis, who is Mr Keating's former piggery partner, is notorious for his repeated failures to file company returns; and

  (b)calls on the ASC not to delay further in taking appropriate measures against Danpork Australia Pty Ltd in view of its continued failure to meet Australian company reporting requirements and the appalling record of its only Australian director, Mr Constantinidis.