There was another "gray area" is that foreign registered...

There was another "gray area" is that foreign registered companies that listed on the ASX after 2013 required at least 2 directors that are Australian directors while the ones that were listed before this date only needed one. NKP was listed on the ASX back in 2006.

ASX "RECOMMEND" that entities that are foreign registered companies that listed before 2013 adopt at least 2 directors that are Oz resident as good governance.

I think Continental Coal got busted for not having 2 Oz directors. Mr lawyer and Mr Pham's lawyer checked about this. Apparently there is a Continental Coal Australia which owns the Subsidiary Continental Coal South Africa. Continental Coal Australia is the listed entity under the code CCC. This is why CCC and Peter Landau got busted for not having 2 directors.