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Mark_045

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33

11/03/18

10:52

Post #: 31668886
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Originally posted by happytrader2015 ↑

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?

Expand

Its not up to you to decide what the law should be. The law is the law end of story. If the conviction is spent after the waiting period he has no legal obligation to inform anyone that he has a criminal record because in the eyes of the law he hasn't got one. The whole idea of it shows that the person has not reoffended and shouldn't be punished the rest of his life for one mistake. It shows that its not habitual behaviour, he did the crime he did the time, learnt from his mistake, and has moved on as should everyone else.

BIG Price at posting: $2.22 Sentiment: Hold Disclosure: Held
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