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
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
But in the case of Breno
Cavalheiro, 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
And it would seem that ASIC are ignoring it to the detriment of at least one Australian taxpayer.
IINet in
They received unauthorized notices from an organisation with
no legal commercial or Governmental recognition in
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
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.
