In my comments before my last letter/email to Messrs Yanco and Morley I left out two important words from "if ASIC and the ASX on this continuous disclosure matter".
The missing words are "ARE COLLUDING". Even with my limited It skills I have learnt how to post the 18 June letter from the Department of Finance mentioned in today's letter/email. Read it below.
I have also copied to this post a letter from the Department's Parliamentary, Governance and Strategy Branch, dated 17 June, in which I am informed my correspondence has been referred to ASIC for "consideration".
It seems ASIC, (Mr Yanco), may have decided to give the thumbs down to the request from the Hon Katy Gallagher and the Hon Assistant Treasurer Jones and thrown the request into TRASH, or to use the olden days term, the BIN.
Australian Government
Department of Finance
Reference: MC24-002005
Mr HLP Street
CASEY ACT 2913
Dear Mr Patrick
Thank you for your correspondence of 20 May 2024 to the Department of Finance concerning a concessional loan provided to Genex Power Ltd by the Northern Australia Infrastructure Facility (NAIF). The Minister has asked me to respond on her behalf.
The NAIF was established under the Northern Australia Infrastructure Facility Act 2016 (NAIF Act) to provide financial assistance to the States and Territories and to other entities for the development of economic infrastructure in northern Australia. The NAIF is overseen by a commercially focused, independent board, which is responsible for making investment decisions, consistent with the Northern Australia Infrastructure Facility Investment Mandate 2023.
Matters relating to investment decisions made by the independent NAIF Board and the ongoing administration of financial assistance provided by the NAIF, are matters for the NAIF. I understand that NAIF's Chief Legal Officer, Mr Chris Collins has written to you advising you that the NAIF has mechanisms in place within the loan to appropriately deal with changes in control, should they occur. Should you have further questions relating to NAIF's investments the NAIF is best placed to address them.
Thank you for taking the time to write and your ongoing interest in the acitivites of the NAIF.
Yours sincerely
David Webster
First Assistant Secretary
Commercial Investments Division
Dear Mr Patrick
Correspondence to the Minister for Finance
Thank you for your email of 31 May 2024 to Senator the Hon Katy Gallagher, Minister for Finance, Minister for Women and Minister for the Public Service concerning ASIC and Public Integrity.
As the issues raised in your correspondence fall within the responsibilities of the Assistant Treasurer and Minister for Financial Services, the Hon Stephen Jones MP, your correspondence has been referred to the Australian Securities and Investments Commission for consideration.
Yours sincerely
Parliamentary, Governance and Strategy Branch
Department of Finance
One Canberra Avenue, Forrest, ACT, 2603
