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'I may be a Senator but I am not stupid'
https://omny.fm/shows/the-alan-jones-breakfast-show/cameron-clyne
Link to Senate Report http://www.aph.gov.au/senate_ca
https://www.change.org/p/rugby-australia-petition-for-cameron-clyne-to-resign-as-chairman-of-the-rugby-australia-board
Are they actually investigating? I thought they were still determining if they would investigate. But then Raelene seemed to imply that the investigation was imminent and my thoughts to that were : if there is an investigation then ASIC will have to contact RA Directors and so on for information - that is an investigation, if they haven't yet done that, then that is still in the determination stage.
The truth may set you free, but only evidence convicts
ASIC have to go through the trail of emails that were sourced by Nick Taylor so it is not just creative accounting and deals they are looking at.
'I may be a Senator but I am not stupid'
https://omny.fm/shows/the-alan-jones-breakfast-show/cameron-clyne
Link to Senate Report http://www.aph.gov.au/senate_ca
https://www.change.org/p/rugby-australia-petition-for-cameron-clyne-to-resign-as-chairman-of-the-rugby-australia-board
Good points Lou. The Senator definitely used the words “are investigating” but I guess that could mean investigating whether there is a case for launching a formal investigation! If no-one from the MRRU, VRU or ARU has heard anything from ASIC as yet, then I would imagine a formal investigation hasn’t yet been started.
Sufficiently Sir Humphrey-esque for everyone?! (I have had years of practice in the corridors of Whitehall!!)
Proudly Western Australian; Proudly supporting Western Australian rugby
ASIC will be looking for breaches of the Corporations Act. The ATO would be looking for breaches of the taxation acts. The evidence may be the same in both cases though. I don’t know if ASIC and the ATO have powers to refer matters to each other, but I do know that the ATO keeps an eye on ASIC prosecutions and where ASIC goes, the ATO is not usually far behind.
Proudly Western Australian; Proudly supporting Western Australian rugby
The Consultancy has to be looked at. Just look at the Simon Poidevin case with ASIC.Is it ASIC that looks at the MRRU/VRU deals via their tax returns? Or do ASIC look at it and then refer it to the ATO. I am more talking about the MRRU claiming 'millions' of dollars in services provide to the ARU. A service NO OTHER SR franchise ever provided.
Both organisations will be getting information off NZ which there is no red tape involved due to bilateral agreements.
ASIC also look in to whether business was conducted fairly (similar to what the FCA formerly known as the FSA do in the UK). Even if it is above aboard legally the RA still have an obligation to treat clients fairly and provide correct information (which they didn't do when the two stooges rocked up to Perth and didn't provide the details to Rugby WA). ASIC appear to be on to this in other cases and it will come up in the Banking Royal Commission (similar to the PPI and packaged bank account cases in the UK) where people are sold a pup that will see them lose money and/or a product that it is useless.
I would also like to known if de Clyne is going to be called up to the Banking Royal Commission. If he does I will be listening in to hear him squirm.
From what Raelene Castle said she has heard from ASIC and Sen. Reynolds on her Twitter threw them a bone to Nick Taylor's emails which were part of a confidential submission that stated that the RA knew about the Rebels sale and concocted the outcome with the put option. They lied publicly to their stakeholders that they didn't know about the 'sale.' There is also no mention of where the debts went as the Rebels clearly had a lot of that.
'I may be a Senator but I am not stupid'
https://omny.fm/shows/the-alan-jones-breakfast-show/cameron-clyne
Link to Senate Report http://www.aph.gov.au/senate_ca
https://www.change.org/p/rugby-australia-petition-for-cameron-clyne-to-resign-as-chairman-of-the-rugby-australia-board
As an eternal optimist, I have decided to 'follow' ASIC on Twitter (just search ASIC had hey presto) and signed up to their media releases via email (media.subscription@asic.gov.au). Really simple to do for both, took me about 45 seconds to do it. They publish all outcomes.
Time for a tin foil hat for me as I find out that the new Chair of ASIC is a “child of the Melbourne establishment” who once coached rugby at Geelong Grammar and is a lawyer who graduated from Melbourne Uni.
If we get a fair result in the ASIC investigation and anything at all from the ARU now, I will give up booze AND chocolate for a month!!!
http://www.afr.com/news/politics/asi...0171016-gz28nl
Proudly Western Australian; Proudly supporting Western Australian rugby
Done it for six weeks for health reasons. Hardest thing I have ever done. Two girls at a work do wanted to get me drunk (what can go wrong) and every other Friday night the lads were asking me if I wanted a beer.
'I may be a Senator but I am not stupid'
https://omny.fm/shows/the-alan-jones-breakfast-show/cameron-clyne
Link to Senate Report http://www.aph.gov.au/senate_ca
https://www.change.org/p/rugby-australia-petition-for-cameron-clyne-to-resign-as-chairman-of-the-rugby-australia-board