Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-7

ASIC clearly states

“When you make a business decision as a company director, you must, amongst other things, ensure that you:

do not have a material personal interest in the decision and make it in the best interests of the company”

This loan and conditions clearly show that TC has both a material (interest on loan) and personal (keep him and his buddies on the board) interest.

They really just don’t care about any rules anymore.