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Thursday, 30 June 1994
Page: 2368

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

  That the Senate—

  (a)notes that:

    (i)documents provided in response to Senate Estimates Committees' inquiries reveal that Mr Achilles Constantinidis, the former piggery partner of the Prime Minister (Mr Keating), has had thirteen penalties imposed on him by the Australian Securities Commission (ASC) for breaches of its reporting requirements in his role as the statutory officer and a director of Mr Keating's then half-owned piggery group companies,

    (ii)these breaches took place, and the fines were imposed, during Mr Keating's half-ownership of these companies from May 1991 to March 1994 when Mr Keating was prepared to allow his partner to be entirely responsible for running their piggery group,

    (iii)Mr Peter Christopher, who resigned from the piggery group boards when Mr Keating disposed of his 50 per cent interest on undisclosed terms, also received similar penalties, all of which have been paid in full, and

    (iv)Mr Keating's partner, Mr Constantanidis, has failed to pay any of his thirteen penalties which are still outstanding;

  (b)regrets that the Prime Minister was so indifferent to the need for his companies to abide by the law that he failed to ensure not only that his partner, who was acting on Mr Keating's behalf, met ASC requirements, but also that his partner pay the penalties owing to the Commonwealth resulting from his breaches of that law; and

  (c)calls on the Prime Minister to dissociate himself from the commercial misbehaviour of his piggery partner, Mr Constantinidis, and to give an assurance that the Prime Minister's failure to ensure that his partner met the requirements of the law was because he was totally unaware of both the breaches and the failure to pay the consequential penalties.