the plot thickens even more so, page-6

Question:
What does the ASX do to stop someone listing a junior explorer on the ASX, doing token exploration to keep shareholders happy while reaping the benefits of remuneration year in and year out, until the company's capital (raised through the IPO) has been exhausted? What's then stopping them from taking director roles in further JE's, again reaping remuneration benefits? The average director remuneration would surely be at least 100k a year, sitting on half a dozen boards it doesn't take a genius to see how much money these guys are making from what basically are phantom exploration companies.
What regulatory bodies are out there that ensure this doesn't happen?
Just a thought.