❓ A parliamentary question seeks details about Gold Corporation's insurance policy, particularly regarding AML/CTF compliance, remediation costs, and LBMA accreditation. The answer largely deflects, citing confidentiality and disputing the premise of some questions.
AnsweredQoN 714Legislative Assembly
Asked
30 March 2023
Member
Portfolio
Mines and Petroleum; Energy; Corrective Services; Industrial Relations
QuestionView source ↗
I refer to Questions on Notice 613 and 652, and ask: (a) Does the Gold Corporation Insurance policy become void if the entity is found to have committed offences under the Anti-Money Laundering Counter Terrorism Funding (AMLCTF) legislation; (b) What are the most significant risks covered under this policy as outlined in the abovementioned question; (c) Please outline any current exclusions; (d) Is there an insurance cover cap on the current policy: (i) If so, what is this figure; (e) Does Gold Corporation have an updated figure for remediation costs in light of recent revelations: (i) If so, what is the amount and how is this being funded; and (f) Does being removed from the London Bullion Market Association Good Delivery List impact the current insurance policy in any way?
AnswerView source ↗
Answered
9 May 2023
Responded by
Minister for Mines and Petroleum; Energy; Corrective Services; Industrial Relations
Response time
1 days
(a) No, the question misunderstands the nature and purpose of insurance. Refer to Legislative Assembly Question on Notice 652.
(b)-(d) As I advised the member on 30 March 2023, insurance is a matter for Gold Corporation management. Specific details of the Gold Corporation’s insurance program are confidential, except where required by law.
(e) There have been no recent revelations with respect to Gold Corporation.
(f) The Perth Mint has never been removed from the London Bullion Market Association’s Good Delivery List.
(b)-(d) As I advised the member on 30 March 2023, insurance is a matter for Gold Corporation management. Specific details of the Gold Corporation’s insurance program are confidential, except where required by law.
(e) There have been no recent revelations with respect to Gold Corporation.
(f) The Perth Mint has never been removed from the London Bullion Market Association’s Good Delivery List.
Explore WA Government Data
Search the full archive in the free dashboard, or query programmatically via API.
Explore more
Government Gazette
Appointments, regulatory notices, planning changes.
Hansard
Debates, questions, speeches and sentiment.
Tabled Papers
Reports and documents tabled in Parliament.
Committees
Committee profiles and recent reports.
Regulations
Subsidiary legislation with filters and summaries.
Bills
Proposed laws and parliamentary progress.
Acts
Current WA legislation and summaries.
Explanatory Memoranda
Bills with EMs (text/PDF) available.
Members
MP profiles, party breakdown and rankings.
Pollie Rankings
Data-driven rankings across 19 categories.
Amendment Chains
Track how schemes and regulations evolve over time.