SPLITPIN You are on the button in regards of falling-off-the-perch theory. ASIC has absolutely everything necessary to make decisive moves. It has substancial dossier of evidence in the matters of rigged member meetings, NSX share manipulation and the like. It has absolute Authority to remove RE where member interests were compromised by illegal activities of an RE. It supervises S 601 of the Corporation Act and must follow the Act in minute detail. In PIF case ASIC has time and time again confirmed that the complaints against an RE "are being investigated", yet does not use its regulatory powers to suspend RE while under investigation.
Hopes for government change may or may not assist PIF stock. ASIC may come to the rescue when remaining pittances of our stock are still there for distribution.
The book you mention would interesting. There is one already, by Robin Bowles "Rough Justice, ananswered questions from the Australian Courts". While cases there are of criminal nature, the gist is of courts getting it wrong.
Regards,
OCV Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
