It's brought up a really important issue for ASX listed companies:
Just taking the Victorian State laws for example:
Any director of a company can pass a criminal check after 10 years has passed,
but
Surely when the director fills out his form it is up to him/her to tell the truth ie admit that they have a criminal conviction
So as it stands now, the criminal director can lie on the form, and not be caught out through a standard criminal application check
I'm framing that in the context that on the application it is an offence to conceal a criminal offence but the only way they can be exposed is outside the Police reporting system. And that's assuming that media reporting of the crime and conviction is proof of the criminal act.
That's dreadful, the list of exceptions to the 10 year rule should be "Company Directors" and ASIC reporting.
So......how many Australian Company directors in ASX have criminal convictions?
And what about companies/directors that parachute in from overseas?
BIG Price at posting:
$2.22 Sentiment: None Disclosure: Not Held
