On 24 August 2021, The Roadships Group Pty Ltd (Roadships Group), Roadships Cycclone Pty Ltd (Roadships Cycclone) and NSW director Robert George McClelland appeared before Downing Centre Local Court, where they were charged with failing to comply with notices issued under the ob体育 Act.
Roadships Group and Roadships Cycclone were each charged with failing to comply with notices to produce books and records to ob体育 on and from 19 December 2019.聽 ob体育 requested the books and records in the course of an investigation.
Mr McClelland was charged with aiding, abetting, counselling or procuring the companies鈥� failure to comply with notices to produce books and records to ob体育.
The matter has been adjourned to 5 October 2021.
The Commonwealth Director of Public Prosecutions is prosecuting the matter.
Background
Under the聽Australian Securities and Investments Commission Act 2001聽(ob体育 Act), ob体育 has information gathering powers that allow it to perform or exercise its functions. These powers include requiring companies and individuals to produce books and records to ob体育. Information Sheet 145 has more information about ob体育鈥檚 compulsory information gathering powers.
Failing to produce books and records to ob体育 when required is a breach of s63(1) of the ob体育 Act and carries a maximum penalty for an individual of two years imprisonment and/or a fine of $50,400 and for a company a fine of $504,000.聽
Editor's note 1:
On 5 October 2021, the Court listed the matter for a one day hearing聽 on 21 April 2022 in the Downing Centre Local Court.
Editor's note 2:
On 21 April 2022, the matter was part heard and adjourned until 22 July 2022 for further hearing.
Editor鈥檚 note 3:
On 22 July 2022, the Magistrate dismissed the defendants鈥� no case application and adjourned the trial until 12 October 2022 for further hearing.
Editor鈥檚 Note 4:
On 12 October 2022, the matter was part heard and adjourned until 14 April 2023 for further hearing in the Downing Centre Local Court.