Just to further explain the skulduggery behind the Genex...

Just to further explain the skulduggery behind the Genex takeover..

This was sent to Mr Yanco, Senator O'Neill, Assistant Treasurer Jones, the AFP, the NACC and Messrs Witham and Collins.

Will ASIC exercise its abusive power of remaining silent; even when it is alleged of misleading Government.

NAIF, Chris Collins and being Compliant with the NAIF Act.

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Howard Patrick<[email protected]>	11:54 AM (0 minutes ago)
to Greg, Senator, Stephen, Benjamin, Erin, Peter, Chris

Mr Yanco

I would be intrigued to know if ASIC's Mr Peter Witham bothered following up with the contents of this 22 May 2024 email from Mr Chris Collins which is copied below?

Chris Collins<[email protected]>	May 22, 2024, 10:10 AM
to Peter, Allan, Louise, Henry, Clinton, Chris, me, [email protected]

Dear Mr Howard,

Thank you for your email below and your earlier emails of 10 May and 14 May 2024. Apologies for the delay in my response.

NAIF acknowledges your Report of Misconduct and will assist ASIC with its inquiries as required.

As previously advised, NAIF will assess any formal final, and binding proposal recommended by the Genex Board and approved by Genex shareholders in accordance with NAIF’s Board, policy and governance arrangements. This will include obtaining external assurance that any proposed changes, waivers, or consents to NAIF’s contractual arrangements necessary to ensure the successful completion and operation of the Kidston Pumped Storage Hydro Project remain compliant with the NAIF Act and Investment Mandate and realise the public benefits forecast for this project. We are unable to advise at this stage if this will result in a change of borrower, the prepayment of NAIF’s loan, or some other change to contractual arrangements between the parties.

NAIF takes regulatory compliance seriously and adheres to all of its legal obligations, whether under the PGPA Act, the NAIF Act and Investment Mandate or any other legislative or regulatory authority.

Kind regards,

Chris

ChrisCollins
Chief Legal Officer

Northern Australia Infrastructure Facility (NAIF)
Level 19, 12 Creek Street, Brisbane, QLD, 4000

M+61 459 809 991

Echris.collins@naif.gov.au

Is ASIC in a position to provide Assistant Treasurer Jones, Senator O'Neill, the NACC and AFP with the content of the EXTERNAL ASSURANCES? Mr Collins said NAIF was going to get the external assurances but it seems likely Mr Witham saw no need for such "trivial" information.

I guess the external assurance referred to here would be like the opinions, (or otherwise called external assurances), provided by the Partners with Allens who wanted, with the help of Gilbert + Tobin and NAIF, to push through the Skip Capital transaction? Seemingly the Allens opinion not worth the paper it was written on; at least the evidence would suggest that given the Skip Capital offer was withdrawn?

Wonder if ASIC even asked Mr Collins what NAIF conveyed to Ministers King and Gallagher about the contents of the external assurances?

ASIC would hardly want to be told that; too embarrassing to know.

Howard Patrick