May 09
25
ASIC ignores Corporation Regulations.
I know about ASIC regulations. I learnt all about ASIC
Justice from the sharp end of the stick.
In 2002 I was banned by ASIC for, well I’m not too sure.
They didn’t actually nominate a reason.
They did say that three companies I had managed, failed to
return more than 50 cents in the dollar to creditors (although two of them were
for a Company that I was no longer a Director of – and hadn’t been for over a
year before the Company went into Administration.(Well that is – if you count one of the non-executive Directors
appointing his family accountant as the Administrator as a valid
Administration)
And when I was booted out, by the same Director, the Company
was billing almost a million per month (after only being in existence for six
months – oh yeah, I nearly forgot – I took the Director to court for booting me
out and won a sizeable settlement; but obviously that doesn’t earn any brownie points with ASIC).
(And, when I was booted out, three large corporations
(including a large Bank) were
negotiating investment deals because of the Company’s intellectual property. Of course – when I left, they didnt wish to proceed – after all, I had built the business; I was the entrepreneur.)
ASIC also said that I wasn’t very good at filling in annual company
returns. Which I agree with actually. I am absolutely lousy at administration. Almost can't tie my own shoe-laces. I can build a frame relay network across four continents…. but don't ask me to fill in a form, don't have the patience.
The third company was a Public Company that is now the
subject of a lengthy legal case, so I can’t really talk about it – except to
say – there were mitigating circumstances and all will be revealed in the
future.
This week we saw ASIC ignore the fact that a foreign
Corporation, Mediasentry, instructed via Email an Australian Educational
institution to terminate an Australian contract between the user of an service
and the service provider.
Not only do Mediasentry not have registration in Australian
as a foreign Corporation,
http://www.search.asic.gov.au/cgi-bin/gns030c
No matching names found
Requested name : MEDIASENTRY
they have not to the best of my knowledge been given
exemption by ASIC
http://agencysearch.australia.gov.au/search/search.cgi?collection=agencies&profile=asic&query=%22exempt+corporations%22+%2B%22media+sentry%22&scope_disable=off
Results Summary: 0
matching documents found for ““exempt
corporations” +”media sentry”
To operate in any capacity within Australia, especially in the capacity of a legal investigator with enforcement rights.
Australian Legislation has passed the
Safe Haven amendment of the Copyright ACT.
Unfortunately, the law is a little light
on how infractions may be reported.
For example, in the case of a drug
smuggling activity, from an overseas country to Australia or vice versa, a recognised Government mandated enforcement
agency contacts our Federal Police or vice versa, and the machinations of
justice hopefully capture the miscreant.
But in the case of (name withheld by request), a Brisbane student, who was just thrown out of his student accommodation
because of the actions of Media
Sentry it would appear that the Legislation gives honorary Police powers to unregistered foreign
corporations within the sovereign boundaries of Australia.
And it would seem that ASIC are ignoring it to the detriment
of at least one Australian taxpayer.
IINet in Western Australia
is in exactly the same boat.
They received unauthorized notices from an organisation with
no legal commercial or Governmental recognition in Australia.
They correctly passed on the notices to the Federal Police. After all, this is
a Police matter.
Someone has been accused of pirating copyrighted content.
If the Government doesn’t fix this Legislative snafu, or if
ASIC don’t prosecute Mediasentry for trading in Australia
without an foreign corporation A.C.N, then I forsee an awful lot of court cases
coming up.
Principally for individuals that have been shut-down, or
turfed out of their accommodation on the say so of an overseas non-recognised,
self styled commercial enforcement agency
I predict a new style of Ambulance chasing is about to
become popular……. I call it,Take Down Notice Legal Services.
Dear P2P user, have you been the victim of unfair dismissal
from your job, University or apartment because of a Take Down Notice?
Have you been harassed by a collection letter threatening to
sue you for gadzillions for downloading your University Lecture notes via
Bit-Torrent?
Have you lost money, failed you exams or been shunned by
your peers because of a Take Down Notice?
Call 1-800-SUE-THE-BASTARDS and we’ll get you top dollar for
your claim.
Alternatively, we could just stop mucking
around with all this pussy footing. Throw all the laws out the window and
return to the vigilante laws of two hundred years ago.
Hang the bugger, he downloaded a
movie……..
From: The Too Hard To Figure Out the right
thing to do Department.