https://hotcopper.com.au/posts/69335787/singleFitzroy, ASIC...

https://hotcopper.com.au/posts/69335787/single

Fitzroy, ASIC Would have loved to have done absolutely nothing, but his confession on hotcopper was so blatant they didn’t really have a choice. I recall Gymjunky lamenting how when ASIC finally do something, it’s the little guy who gets busted whilst the big end of town ride off into the sunset and live happily ever after.
Well noted that Mr Govinda was the first person prosecuted by ASIC under this section. Clearly it had never been breached before.

ASIC’s farcical performances regulator is akin to the police, telling you that that bank robbery is a crime, but the men inside the bank wearing balaclavas with guns aren’t committing a bank robbery, they are just making a legal withdrawal. If you take it to the High Court and prosecute the bank robber(s) yourself, the High Court of Australia says absolutely this is bank robbery!
Hardly surprising as the Corps Act isn’t the Sunday cryptic crossword, the various sections are generally clear and transparent… and if not, interpretation should be left to the HCA, not ASIC. Still, it won’t be too long before Joseph Longo and Sarah Court can spend all their time on the cryptic crossword, although the simple sudoku might be more appropriate.