STOCK OWNERSHIP – AUSTRALIA

Eligibility case to test Morrison minority

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Original article by Rosie Lewis, Ben Packham
The Australian – Page: 1 & 4 : 6-Nov-18

The federal government’s loss of its majority in the House of Representatives means it will require the support of at least one lower house crossbencher to pass bills. However, some crossbenchers have requested access to legal advice on the eligibility of Liberal MP Chris Crewther to be in Parliament, amid speculation that they may seek a motion to have his case referred to the High Court. There are concerns that Crewther’s investment in Gretals Australia may breach the Constitution, given that the pharmaceutical company has benefited from taxpayer-funded research grants.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, GRETALS AUSTRALIA PTY LTD, UNIVERSITY OF MELBOURNE, AUSTRALIAN RESEARCH COUNCIL, AUSTRALIA. DEPT OF HOME AFFAIRS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, HIGH COURT OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS

Coalition MP on brink

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Original article by James Campbell
Herald Sun – Page: 1 & 6 : 2-Nov-18

Liberal MP Chris Crewther could be referred to the High Court over concerns that his investment in pharmaceutical company Gretals Australia may breach Section 44 of the Constitution. Gretals has received direct grants from the federal government, as well as linkage grants. Home Affairs Minister Peter Dutton has also been under scrutiny over claims that his pecuniary interest in a childcare centre may breach the Constitution. The federal government would have 74 seats in the lower house if Crewther is disqualified.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, GRETALS AUSTRALIA, AUSTRALIA. DEPT OF HOME AFFAIRS, HIGH COURT OF AUSTRALIA, AUSTRALIAN LABOR PARTY

Foreign cap on Qantas needs axing: Joyce

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Original article by Mitchell Bingemann
The Australian – Page: 29 : 16-Sep-16

Qantas CEO Alan Joyce says the airline is being disadvantaged by ownership restrictions because they prevent it from participating in global consolidation in the sector. He has called on the Federal Government to make changes to the Qantas Sale Act. Peter Harbison, the executive chairman of CAPA-Centre for Aviation, says restrictions on foreign ownership amount to protectionism.

CORPORATES
QANTAS AIRWAYS LIMITED – ASX QAN, VIRGIN AUSTRALIA HOLDINGS LIMITED – ASX VAH, CAPA – CENTRE FOR AVIATION

Top directors skip the scrip

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Original article by Misa Han
The Australian Financial Review – Page: 13 : 14-Nov-14

A survey by the Australian Council of Superannuation Investors shows that many directors of listed groups do not have equity in the company. One per cent of executive directors of companies in the ASX 100 do not directly hold shares, while 9.7 per cent of non-executive directors are not on the share register. Ian Curry of the Australian Shareholders’ Association says ownership of the company’s shares should be mandatory for all directors

CORPORATES
AUSTRALIAN COUNCIL OF SUPERANNUATION INVESTORS INCORPORATED, AUSTRALIAN SHAREHOLDERS’ ASSOCIATION, STANDARD AND POOR’S ASX 100 ACCUMULATION INDEX, STANDARD AND POOR’S ASX 200 INDEX, BHP BILLITON LIMITED – ASX BHP, RAMSAY HEALTH CARE LIMITED – ASX RHC, SONIC HEALTHCARE LIMITED – ASX SHL