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A Northern Territory director has been disqualified from managing companies for the maximum period after the corporate regulator found a history of poor tax compliance.
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ASIC disqualifies NT director for maximum term
04 July 2019
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10 minute read
ASIC has disqualified Anthony John Lyness of Palmerston, Northern Territory, from managing companies for the maximum period of five years for his involvement in two failed companies.
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Among its findings, the corporate regulator found that Mr Lyness managed two failed companies so that the resources were used to pay expenses owed to others in preference to debts owed to the ATO.
He also demonstrated poor compliance by failing, on multiple occasions, to comply with statutory obligations to lodge ATO business activity statements, income tax returns, PAYG payment summaries and taxable payments annual reports.
ASIC also found that Mr Lyness improperly used his position as a director by transferring a vehicle, owned by the company he was a director of, to himself for little or no consideration, which caused detriment to unsecured creditors; failed to submit a report as to affairs to a liquidator; and failed to provide books to a liquidator.
Mr Lyness was the director of ACN 160 467 354 Pty Ltd (formerly known as Skyline Painters [NT] Pty Ltd) – ACN 160 467 354, and Skyline Painters Pty Ltd – ACN 107 861 978.
The companies had a total of $605,053 in liabilities that were owed to eight unsecured creditors.
Mr Lyness’ disqualification took effect from 18 April 2019 and extends to 17 April 2024.
Disqualifications for dishonesty
ASIC has also moved to remove four Northern Territory company directors who have been disqualified from managing companies after being convicted of criminal offences involving dishonesty.
The Corporation Act 2001 provides for automatic disqualification of directors and/or secretaries from managing a corporation where the person is convicted of an offence that involves dishonesty and that offence is punishable by imprisonment for at least three months.
The act also states a person who has been convicted of an offence of dishonesty is disqualified from taking part in the management of a corporation for a period of five years from either the date of their conviction, or if imprisoned, for a period of five years after being released from prison.
If the disqualified director or a secretary of a company continues to take part in the management of a company, this is an offence under the act which carries a maximum penalty of $126,000 or five years imprisonment, or both.
The following directors have been disqualified and ceased as office holders:
- Colin Voeuk of Voeuk Investments Pty Ltd and Wyndham Community Store Pty Ltd
- Aimee Pitman of Food is Life Pty Ltd
- Christopher Paul Deutrom of HugoJohn Pty Ltd
- Walter Wilton of Dynavent Investments Pty Ltd
“If you are a director of a company and are convicted of a crime that involves dishonesty, you should remove yourself as a director immediately,” said ASIC commissioner John Price.
“Where ASIC becomes aware of this, we will remove those persons from the national corporate register.
“We thank the NT Police for their assistance in identifying individuals who should no longer be directors.”
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