@Sparkie An important subject brought up by sparkie1 regarding...

@Sparkie

An important subject brought up by sparkie1 regarding the OSMR technology

“Bigger powers at play here…The best thing I am doing is lobbying the foreign investment review board FIRB to block any potential fire sale to a non-Australian company” “At this time all Australian companies are subject to scrutiny in national interest and I present that this tech falls within the national interest. The more that flag this the better….”


LNGL transferred the OSMR technology to the US a while back. I contacted FIRB and their advice was to go through ASIC regarding Deceptive and Misleading Conduct; Negligence; Breaches of Legal Obligations; Voluntary Administration; Approvals for Selling of Assets.


I put the FIRB (Foreign Investment Review Board) website link below because it has various useful links, including the Investor Obligations link and sub-links

https://firb.gov.au/

Investor obligations
The Australian Government expects all entities operating in Australia to maintain the highest standards of corporate behavior, irrespective of whether those entities are Australian or foreign owned. Persons involved in operating these entities are expected to understand Australia’s regulatory environment and abide by all the relevant requirements. Some of the obligations of which foreign investors should be aware are outlined in the fact sheets below. These requirements are ongoing and may change from time to time. Accordingly, investors are expected to keep themselves up to date with any changes to their obligations that may occur.

• Fact Sheet 1 - Corporate Governance Principles
• Fact Sheet 2 - Compliance with Corporate Law Administered by the Australian Securities and Investments Commission (ASIC)
• Fact Sheet 3 - Directors' Obligations
• Fact Sheet 4 - Market Activities
• Fact Sheet 5 - Competition and Consumer Protection Laws
• Fact Sheet 6 - OECD Guidelines for Multinational Enterprises
• Fact Sheet 7 - Interacting with the Australian Tax System
• Fact Sheet 8 - Interests in Australian media assets
• Fact Sheet 9 - National Environmental Law

FIRB’s enquiry line phone number is: +61 2 6263 3795

• Extension 6 Compliance Matter (Business Compliance - Ext. 2)