Ann: Half Yearly Report and Accounts, page-58

This was the topic at hand,appreciate the help with understanding.

Surely they are not in breach of any of that, there must be something that seperates Talico? To the simple man it looks terrible.

Anyone legally minded who could shed light on whats up here?

REGULATORY GUIDE
76 Related party transactions

Key points
There is a risk that the interests of a related party may influence the decision-making of directors to the detriment of the interests of members of the entity as a whole when an entity is considering whether to enter into a transaction with a related party.

Together with the provisions about directors’ duties, the Corporations Act 2001 (Corporations Act) imposes a number of protections to help manage this risk, including:
• Div 2 of Pt 2D.1, which excludes directors of public companies with material personal interests in certain matters attending director meetings about, or voting on, these matters; and
• Ch 2E and Pt 5C.7, which require public companies and responsible entities of registered managed investment schemes to obtain member approval to provide a financial benefit to a related party, subject to certain exceptions.

This guide provides guidance for public companies and registered managed investment schemes (registered schemes) on the application of the Corporations Act and ASIC’s expectations in relation to various aspects of related party transactions. These include the decision to enter into a related party transaction, whether to seek member approval, and what information to include in meeting materials for the approval of related party transactions and other disclosure documents.