G’day again Andy – As I’ve been retired now for 10 years I know...

G’day again Andy –

As I’ve been retired now for 10 years I know sfa about PSI any more, but from memory you are right about either of the 4 people you refer to having to pass certain rules, but only if they include – in their CORPORATE invoices each month? to BGS for their consulting fees - expenses they’ve incurred in performing those duties.

e.g. if any director of any company uses his own laptop (during the course of providing his time to that company) – and bills that company $100 a month for his laptop’s access to unlimited data off the Internet – there is nothing to stop that director billing every other co. of which he’s a director the same $100 a month! - Neither the main company - for which he consults - nor any of those other companies he consults to - could hardly consider this $100 monthly payment unreasonable – because each of those companies would have to pay that $100 if he was only consulting to just one of them!
(Ahhhh – the rorts of office - available to the privileged "multi-taskers" of our corporate world).
So, as for BGS, I say : "No names, no pack drill".

I do however feel that the practice of invoicing by directors (per their corporate entities) – for consulting to whichever company that engages them thru their corporate entity – would still almost entirely comprise the billing of their time only – spent on the business of the engaging company – IMO.

Therefore IMO all the BGS Admin expenses you refer to – as broken down in Note 3 of the Half Yearly Report & Accounts – would most likely be expenses directly paid out to OTHER suppliers of services, none of which would include Directors or BN.

It is possible though – but probably highly unlikely – that 1 of BGS directors might own the Perth office premises – in which case that director’s corporate entity would be separately billing BGS for the monthly rent. If this was the case then in BGS’s Annual Report the remuneration for that director would have to include – for corporate law reasons only - the payment made to his entity for that rent. TG.