{Published on 6 Dec 2014}

The following document was attached to the Press Release.

ASIC Chairman 6 December 2014

PR 6 Dec 14


The Chairman of ASIC, Mr Greg Medcraft, has claimed that Australia is a ‘Paradise’ for white-collar criminals – a statement he was forced to retract by the Acting Assistant Treasurer, Senator the Hon Mathias Cormann.

The High Court in England recently struck down 30 purported amending Deeds of a pension fund on the grounds that these Deeds had failed to comply with the legal formalities required for amending Deeds. Likewise there are 27 purported amending instruments related to The Provident Fund {aka Elders IXL Superannuation Fund} that fail to comply with the requirements of legally valid amending Deeds.

Lord Northington  said in 1758:
No point is better established than that, a person having a power, must execute it bona fide for the end designed, otherwise it is corrupt and void.”

ASIC has claimed to the Senate Inquiry that there is “No Evidence” to support allegation of a fraudulent Breach of Trust that has robbed widows of their survivorship pensions.

Only two documents and an enactment of the Parliament of South Australia are required to confirm Australia’s Worst White-Collar Crime, yet ASIC refuses to confirm whether ASIC has copies of these two documents of evidence  in ASIC’s possession.

Once ASIC confirms possession, then ASIC can no longer resort to the lame excuse of “No Evidence”.

The National Australia Bank (NAB) has now assumed responsibility for the payment of benefits and needless to say the NAB is refusing to pay widows their survivorship pensions.