According to ASIC, Melbourne-based ATF Group (PDF) Limited pleaded guilty to 9 charges on 6 February 2014 of failing to report to members by providing annual reports for the 2010, 2011 and 2012 financial years, hold AGMs for the 2010, 2011 and 2012 financial years, and lodge annual reports with ASIC for the 2010, 2011 and 2012 financial years.
The company was fined a total of $7,500 and ordered to pay costs of $249.
Since 1 July 2012, 22 companies have been prosecuted for failing to lodge annual reports and/or hold annual general meetings.
ASIC is currently involved in another 37 matters that are in various stages of investigation and/or prosecution.
“These matters demonstrate ASIC’s ongoing focus on ensuring companies uphold their reporting responsibilities,” ASIC commissioner Greg Tanzer said
“Not adhering to these responsibilities severely compromises the transparency of a company and limits shareholders’ ability to make informed decisions,” Mr Tanzer said.
“These obligations are important and ASIC will not hesitate to pursue companies who disregard them.”
The matter was prosecuted by the Commonwealth Director of Public Prosecutions, with the company convicted in the Melbourne Magistrates Court.
ATF Group could not be reached by InvestorDaily.
