❓ A WA parliamentary question seeks details on bad debts written off by the Science and Innovation portfolio, including specific cases exceeding $10,000. The Minister provides a detailed response regarding the Department of Industry and Resources.
AnsweredQoN 3845Legislative Council
QuestionView source ↗
For each Department and Agency under the Minister’s control, including the Ministerial Office, and understanding that the write-off process is covered by the
Financial Administration and Audit Act
-
(1) What was the total amount of bad debts written off in each of the financial years -
(a) 2001-2002;
(b) 2002-2003;
(c) 2003-2004;
(d) 2004-2005; and
(e) 2005-2006?
(2) Were any of these debts above $10 000?
(3) If so, what is the name of the person or company owing the debt?
Financial Administration and Audit Act
-
(1) What was the total amount of bad debts written off in each of the financial years -
(a) 2001-2002;
(b) 2002-2003;
(c) 2003-2004;
(d) 2004-2005; and
(e) 2005-2006?
(2) Were any of these debts above $10 000?
(3) If so, what is the name of the person or company owing the debt?
AnswerView source ↗
Answered
18 October 2006
Responded by
Leader of the House representing the Minister for Science and Innovation
Response time
57 days
(b) 2002-2003; (c) 2003-2004; (d) 2004-2005; and (e) 2005-2006?
(c) 2003-2004; (d) 2004-2005; and (e) 2005-2006?
(d) 2004-2005; and (e) 2005-2006?
(e) 2005-2006?
The Minister for Science and Innovation has provided the following response: Ministerial Office: Please refer to question on notice 3838. As the Member has stated, the write-off process is covered by the Financial Administration and Audit Act (FAAA). The FAAA has been in place since 1986 and similar provisions were in place in the Audit Act 1904. As a standard practice the agency would be expected to have taken all reasonable steps to recover and amend processes to avoid any recurrence prior to seeking approval to write-off. Compliance with the Financial Administration and Audit Act is audited annually by the Office of the Auditor General and any non compliance is reported to Parliament. Department of Industry and Resources: (1a) $3,165.70 (b) $0 (c) $1,827.15 (d) $2,221 972.51 (e) $67,439.88 (2) Yes (3) Compact Steel Pty Ltd; Katanning Mills Ltd; Ms Merle Moore and Mr Mark Smith; Australian Kaolin Ltd Compact Steel Pty Ltd $2,000,000 The Government of Western Australia on behalf of the State and Federal governments, entered into a loan agreement in 1992 with Compact Steel Pty Ltd for $2 million. The funds were used to conduct a feasibility study into establishing a steel mill in the Rockingham area. This was facilitated through the Department of Industry and Resources. Under the terms of the loan agreement, repayment of the advance was required if the project commenced or there was a termination of the agreement. The steel mill did not proceed due to the project failing to meet the required hurdle rate for investment. In 2003 the Directors of Compact Steel resolved that the company be dissolved as it was not trading and had no assets. Following that resolution the Australian Securities and Investments Commission deregistered the company on 1 July 2003. Katanning Mills Ltd $206,879.51 Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
Ministerial Office: Please refer to question on notice 3838. As the Member has stated, the write-off process is covered by the Financial Administration and Audit Act (FAAA). The FAAA has been in place since 1986 and similar provisions were in place in the Audit Act 1904. As a standard practice the agency would be expected to have taken all reasonable steps to recover and amend processes to avoid any recurrence prior to seeking approval to write-off. Compliance with the Financial Administration and Audit Act is audited annually by the Office of the Auditor General and any non compliance is reported to Parliament. Department of Industry and Resources: (1a) $3,165.70 (b) $0 (c) $1,827.15 (d) $2,221 972.51 (e) $67,439.88 (2) Yes (3) Compact Steel Pty Ltd; Katanning Mills Ltd; Ms Merle Moore and Mr Mark Smith; Australian Kaolin Ltd Compact Steel Pty Ltd $2,000,000 The Government of Western Australia on behalf of the State and Federal governments, entered into a loan agreement in 1992 with Compact Steel Pty Ltd for $2 million. The funds were used to conduct a feasibility study into establishing a steel mill in the Rockingham area. This was facilitated through the Department of Industry and Resources. Under the terms of the loan agreement, repayment of the advance was required if the project commenced or there was a termination of the agreement. The steel mill did not proceed due to the project failing to meet the required hurdle rate for investment. In 2003 the Directors of Compact Steel resolved that the company be dissolved as it was not trading and had no assets. Following that resolution the Australian Securities and Investments Commission deregistered the company on 1 July 2003. Katanning Mills Ltd $206,879.51 Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
Please refer to question on notice 3838. As the Member has stated, the write-off process is covered by the Financial Administration and Audit Act (FAAA). The FAAA has been in place since 1986 and similar provisions were in place in the Audit Act 1904. As a standard practice the agency would be expected to have taken all reasonable steps to recover and amend processes to avoid any recurrence prior to seeking approval to write-off. Compliance with the Financial Administration and Audit Act is audited annually by the Office of the Auditor General and any non compliance is reported to Parliament. Department of Industry and Resources: (1a) $3,165.70 (b) $0 (c) $1,827.15 (d) $2,221 972.51 (e) $67,439.88 (2) Yes (3) Compact Steel Pty Ltd; Katanning Mills Ltd; Ms Merle Moore and Mr Mark Smith; Australian Kaolin Ltd Compact Steel Pty Ltd $2,000,000 The Government of Western Australia on behalf of the State and Federal governments, entered into a loan agreement in 1992 with Compact Steel Pty Ltd for $2 million. The funds were used to conduct a feasibility study into establishing a steel mill in the Rockingham area. This was facilitated through the Department of Industry and Resources. Under the terms of the loan agreement, repayment of the advance was required if the project commenced or there was a termination of the agreement. The steel mill did not proceed due to the project failing to meet the required hurdle rate for investment. In 2003 the Directors of Compact Steel resolved that the company be dissolved as it was not trading and had no assets. Following that resolution the Australian Securities and Investments Commission deregistered the company on 1 July 2003. Katanning Mills Ltd $206,879.51 Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
As the Member has stated, the write-off process is covered by the Financial Administration and Audit Act (FAAA). The FAAA has been in place since 1986 and similar provisions were in place in the Audit Act 1904. As a standard practice the agency would be expected to have taken all reasonable steps to recover and amend processes to avoid any recurrence prior to seeking approval to write-off. Compliance with the Financial Administration and Audit Act is audited annually by the Office of the Auditor General and any non compliance is reported to Parliament. Department of Industry and Resources: (1a) $3,165.70 (b) $0 (c) $1,827.15 (d) $2,221 972.51 (e) $67,439.88 (2) Yes (3) Compact Steel Pty Ltd; Katanning Mills Ltd; Ms Merle Moore and Mr Mark Smith; Australian Kaolin Ltd Compact Steel Pty Ltd $2,000,000 The Government of Western Australia on behalf of the State and Federal governments, entered into a loan agreement in 1992 with Compact Steel Pty Ltd for $2 million. The funds were used to conduct a feasibility study into establishing a steel mill in the Rockingham area. This was facilitated through the Department of Industry and Resources. Under the terms of the loan agreement, repayment of the advance was required if the project commenced or there was a termination of the agreement. The steel mill did not proceed due to the project failing to meet the required hurdle rate for investment. In 2003 the Directors of Compact Steel resolved that the company be dissolved as it was not trading and had no assets. Following that resolution the Australian Securities and Investments Commission deregistered the company on 1 July 2003. Katanning Mills Ltd $206,879.51 Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
As a standard practice the agency would be expected to have taken all reasonable steps to recover and amend processes to avoid any recurrence prior to seeking approval to write-off. Compliance with the Financial Administration and Audit Act is audited annually by the Office of the Auditor General and any non compliance is reported to Parliament. Department of Industry and Resources: (1a) $3,165.70 (b) $0 (c) $1,827.15 (d) $2,221 972.51 (e) $67,439.88 (2) Yes (3) Compact Steel Pty Ltd; Katanning Mills Ltd; Ms Merle Moore and Mr Mark Smith; Australian Kaolin Ltd Compact Steel Pty Ltd $2,000,000 The Government of Western Australia on behalf of the State and Federal governments, entered into a loan agreement in 1992 with Compact Steel Pty Ltd for $2 million. The funds were used to conduct a feasibility study into establishing a steel mill in the Rockingham area. This was facilitated through the Department of Industry and Resources. Under the terms of the loan agreement, repayment of the advance was required if the project commenced or there was a termination of the agreement. The steel mill did not proceed due to the project failing to meet the required hurdle rate for investment. In 2003 the Directors of Compact Steel resolved that the company be dissolved as it was not trading and had no assets. Following that resolution the Australian Securities and Investments Commission deregistered the company on 1 July 2003. Katanning Mills Ltd $206,879.51 Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
Compliance with the Financial Administration and Audit Act is audited annually by the Office of the Auditor General and any non compliance is reported to Parliament. Department of Industry and Resources: (1a) $3,165.70 (b) $0 (c) $1,827.15 (d) $2,221 972.51 (e) $67,439.88 (2) Yes (3) Compact Steel Pty Ltd; Katanning Mills Ltd; Ms Merle Moore and Mr Mark Smith; Australian Kaolin Ltd Compact Steel Pty Ltd $2,000,000 The Government of Western Australia on behalf of the State and Federal governments, entered into a loan agreement in 1992 with Compact Steel Pty Ltd for $2 million. The funds were used to conduct a feasibility study into establishing a steel mill in the Rockingham area. This was facilitated through the Department of Industry and Resources. Under the terms of the loan agreement, repayment of the advance was required if the project commenced or there was a termination of the agreement. The steel mill did not proceed due to the project failing to meet the required hurdle rate for investment. In 2003 the Directors of Compact Steel resolved that the company be dissolved as it was not trading and had no assets. Following that resolution the Australian Securities and Investments Commission deregistered the company on 1 July 2003. Katanning Mills Ltd $206,879.51 Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
Department of Industry and Resources: (1a) $3,165.70 (b) $0 (c) $1,827.15 (d) $2,221 972.51 (e) $67,439.88 (2) Yes (3) Compact Steel Pty Ltd; Katanning Mills Ltd; Ms Merle Moore and Mr Mark Smith; Australian Kaolin Ltd Compact Steel Pty Ltd $2,000,000 The Government of Western Australia on behalf of the State and Federal governments, entered into a loan agreement in 1992 with Compact Steel Pty Ltd for $2 million. The funds were used to conduct a feasibility study into establishing a steel mill in the Rockingham area. This was facilitated through the Department of Industry and Resources. Under the terms of the loan agreement, repayment of the advance was required if the project commenced or there was a termination of the agreement. The steel mill did not proceed due to the project failing to meet the required hurdle rate for investment. In 2003 the Directors of Compact Steel resolved that the company be dissolved as it was not trading and had no assets. Following that resolution the Australian Securities and Investments Commission deregistered the company on 1 July 2003. Katanning Mills Ltd $206,879.51 Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
(1a) $3,165.70 (b) $0 (c) $1,827.15 (d) $2,221 972.51 (e) $67,439.88 (2) Yes (3) Compact Steel Pty Ltd; Katanning Mills Ltd; Ms Merle Moore and Mr Mark Smith; Australian Kaolin Ltd Compact Steel Pty Ltd $2,000,000 The Government of Western Australia on behalf of the State and Federal governments, entered into a loan agreement in 1992 with Compact Steel Pty Ltd for $2 million. The funds were used to conduct a feasibility study into establishing a steel mill in the Rockingham area. This was facilitated through the Department of Industry and Resources. Under the terms of the loan agreement, repayment of the advance was required if the project commenced or there was a termination of the agreement. The steel mill did not proceed due to the project failing to meet the required hurdle rate for investment. In 2003 the Directors of Compact Steel resolved that the company be dissolved as it was not trading and had no assets. Following that resolution the Australian Securities and Investments Commission deregistered the company on 1 July 2003. Katanning Mills Ltd $206,879.51 Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
(1a) $3,165.70 (b) $0 (c) $1,827.15 (d) $2,221 972.51 (e) $67,439.88 (2) Yes (3) Compact Steel Pty Ltd; Katanning Mills Ltd; Ms Merle Moore and Mr Mark Smith; Australian Kaolin Ltd Compact Steel Pty Ltd $2,000,000 The Government of Western Australia on behalf of the State and Federal governments, entered into a loan agreement in 1992 with Compact Steel Pty Ltd for $2 million. The funds were used to conduct a feasibility study into establishing a steel mill in the Rockingham area. This was facilitated through the Department of Industry and Resources. Under the terms of the loan agreement, repayment of the advance was required if the project commenced or there was a termination of the agreement. The steel mill did not proceed due to the project failing to meet the required hurdle rate for investment. In 2003 the Directors of Compact Steel resolved that the company be dissolved as it was not trading and had no assets. Following that resolution the Australian Securities and Investments Commission deregistered the company on 1 July 2003. Katanning Mills Ltd $206,879.51 Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
(b) $0 (c) $1,827.15 (d) $2,221 972.51 (e) $67,439.88 (2) Yes (3) Compact Steel Pty Ltd; Katanning Mills Ltd; Ms Merle Moore and Mr Mark Smith; Australian Kaolin Ltd Compact Steel Pty Ltd $2,000,000 The Government of Western Australia on behalf of the State and Federal governments, entered into a loan agreement in 1992 with Compact Steel Pty Ltd for $2 million. The funds were used to conduct a feasibility study into establishing a steel mill in the Rockingham area. This was facilitated through the Department of Industry and Resources. Under the terms of the loan agreement, repayment of the advance was required if the project commenced or there was a termination of the agreement. The steel mill did not proceed due to the project failing to meet the required hurdle rate for investment. In 2003 the Directors of Compact Steel resolved that the company be dissolved as it was not trading and had no assets. Following that resolution the Australian Securities and Investments Commission deregistered the company on 1 July 2003. Katanning Mills Ltd $206,879.51 Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
(c) $1,827.15 (d) $2,221 972.51 (e) $67,439.88 (2) Yes (3) Compact Steel Pty Ltd; Katanning Mills Ltd; Ms Merle Moore and Mr Mark Smith; Australian Kaolin Ltd Compact Steel Pty Ltd $2,000,000 The Government of Western Australia on behalf of the State and Federal governments, entered into a loan agreement in 1992 with Compact Steel Pty Ltd for $2 million. The funds were used to conduct a feasibility study into establishing a steel mill in the Rockingham area. This was facilitated through the Department of Industry and Resources. Under the terms of the loan agreement, repayment of the advance was required if the project commenced or there was a termination of the agreement. The steel mill did not proceed due to the project failing to meet the required hurdle rate for investment. In 2003 the Directors of Compact Steel resolved that the company be dissolved as it was not trading and had no assets. Following that resolution the Australian Securities and Investments Commission deregistered the company on 1 July 2003. Katanning Mills Ltd $206,879.51 Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
(d) $2,221 972.51 (e) $67,439.88 (2) Yes (3) Compact Steel Pty Ltd; Katanning Mills Ltd; Ms Merle Moore and Mr Mark Smith; Australian Kaolin Ltd Compact Steel Pty Ltd $2,000,000 The Government of Western Australia on behalf of the State and Federal governments, entered into a loan agreement in 1992 with Compact Steel Pty Ltd for $2 million. The funds were used to conduct a feasibility study into establishing a steel mill in the Rockingham area. This was facilitated through the Department of Industry and Resources. Under the terms of the loan agreement, repayment of the advance was required if the project commenced or there was a termination of the agreement. The steel mill did not proceed due to the project failing to meet the required hurdle rate for investment. In 2003 the Directors of Compact Steel resolved that the company be dissolved as it was not trading and had no assets. Following that resolution the Australian Securities and Investments Commission deregistered the company on 1 July 2003. Katanning Mills Ltd $206,879.51 Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
(e) $67,439.88 (2) Yes (3) Compact Steel Pty Ltd; Katanning Mills Ltd; Ms Merle Moore and Mr Mark Smith; Australian Kaolin Ltd Compact Steel Pty Ltd $2,000,000 The Government of Western Australia on behalf of the State and Federal governments, entered into a loan agreement in 1992 with Compact Steel Pty Ltd for $2 million. The funds were used to conduct a feasibility study into establishing a steel mill in the Rockingham area. This was facilitated through the Department of Industry and Resources. Under the terms of the loan agreement, repayment of the advance was required if the project commenced or there was a termination of the agreement. The steel mill did not proceed due to the project failing to meet the required hurdle rate for investment. In 2003 the Directors of Compact Steel resolved that the company be dissolved as it was not trading and had no assets. Following that resolution the Australian Securities and Investments Commission deregistered the company on 1 July 2003. Katanning Mills Ltd $206,879.51 Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
(2) Yes (3) Compact Steel Pty Ltd; Katanning Mills Ltd; Ms Merle Moore and Mr Mark Smith; Australian Kaolin Ltd Compact Steel Pty Ltd $2,000,000 The Government of Western Australia on behalf of the State and Federal governments, entered into a loan agreement in 1992 with Compact Steel Pty Ltd for $2 million. The funds were used to conduct a feasibility study into establishing a steel mill in the Rockingham area. This was facilitated through the Department of Industry and Resources. Under the terms of the loan agreement, repayment of the advance was required if the project commenced or there was a termination of the agreement. The steel mill did not proceed due to the project failing to meet the required hurdle rate for investment. In 2003 the Directors of Compact Steel resolved that the company be dissolved as it was not trading and had no assets. Following that resolution the Australian Securities and Investments Commission deregistered the company on 1 July 2003. Katanning Mills Ltd $206,879.51 Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
(3) Compact Steel Pty Ltd; Katanning Mills Ltd; Ms Merle Moore and Mr Mark Smith; Australian Kaolin Ltd Compact Steel Pty Ltd $2,000,000 The Government of Western Australia on behalf of the State and Federal governments, entered into a loan agreement in 1992 with Compact Steel Pty Ltd for $2 million. The funds were used to conduct a feasibility study into establishing a steel mill in the Rockingham area. This was facilitated through the Department of Industry and Resources. Under the terms of the loan agreement, repayment of the advance was required if the project commenced or there was a termination of the agreement. The steel mill did not proceed due to the project failing to meet the required hurdle rate for investment. In 2003 the Directors of Compact Steel resolved that the company be dissolved as it was not trading and had no assets. Following that resolution the Australian Securities and Investments Commission deregistered the company on 1 July 2003. Katanning Mills Ltd $206,879.51 Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
Compact Steel Pty Ltd $2,000,000 The Government of Western Australia on behalf of the State and Federal governments, entered into a loan agreement in 1992 with Compact Steel Pty Ltd for $2 million. The funds were used to conduct a feasibility study into establishing a steel mill in the Rockingham area. This was facilitated through the Department of Industry and Resources. Under the terms of the loan agreement, repayment of the advance was required if the project commenced or there was a termination of the agreement. The steel mill did not proceed due to the project failing to meet the required hurdle rate for investment. In 2003 the Directors of Compact Steel resolved that the company be dissolved as it was not trading and had no assets. Following that resolution the Australian Securities and Investments Commission deregistered the company on 1 July 2003. Katanning Mills Ltd $206,879.51 Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
The Government of Western Australia on behalf of the State and Federal governments, entered into a loan agreement in 1992 with Compact Steel Pty Ltd for $2 million. The funds were used to conduct a feasibility study into establishing a steel mill in the Rockingham area. This was facilitated through the Department of Industry and Resources. Under the terms of the loan agreement, repayment of the advance was required if the project commenced or there was a termination of the agreement. The steel mill did not proceed due to the project failing to meet the required hurdle rate for investment. In 2003 the Directors of Compact Steel resolved that the company be dissolved as it was not trading and had no assets. Following that resolution the Australian Securities and Investments Commission deregistered the company on 1 July 2003. Katanning Mills Ltd $206,879.51 Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
Katanning Mills Ltd $206,879.51 Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
(c) 2003-2004; (d) 2004-2005; and (e) 2005-2006?
(d) 2004-2005; and (e) 2005-2006?
(e) 2005-2006?
The Minister for Science and Innovation has provided the following response: Ministerial Office: Please refer to question on notice 3838. As the Member has stated, the write-off process is covered by the Financial Administration and Audit Act (FAAA). The FAAA has been in place since 1986 and similar provisions were in place in the Audit Act 1904. As a standard practice the agency would be expected to have taken all reasonable steps to recover and amend processes to avoid any recurrence prior to seeking approval to write-off. Compliance with the Financial Administration and Audit Act is audited annually by the Office of the Auditor General and any non compliance is reported to Parliament. Department of Industry and Resources: (1a) $3,165.70 (b) $0 (c) $1,827.15 (d) $2,221 972.51 (e) $67,439.88 (2) Yes (3) Compact Steel Pty Ltd; Katanning Mills Ltd; Ms Merle Moore and Mr Mark Smith; Australian Kaolin Ltd Compact Steel Pty Ltd $2,000,000 The Government of Western Australia on behalf of the State and Federal governments, entered into a loan agreement in 1992 with Compact Steel Pty Ltd for $2 million. The funds were used to conduct a feasibility study into establishing a steel mill in the Rockingham area. This was facilitated through the Department of Industry and Resources. Under the terms of the loan agreement, repayment of the advance was required if the project commenced or there was a termination of the agreement. The steel mill did not proceed due to the project failing to meet the required hurdle rate for investment. In 2003 the Directors of Compact Steel resolved that the company be dissolved as it was not trading and had no assets. Following that resolution the Australian Securities and Investments Commission deregistered the company on 1 July 2003. Katanning Mills Ltd $206,879.51 Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
Ministerial Office: Please refer to question on notice 3838. As the Member has stated, the write-off process is covered by the Financial Administration and Audit Act (FAAA). The FAAA has been in place since 1986 and similar provisions were in place in the Audit Act 1904. As a standard practice the agency would be expected to have taken all reasonable steps to recover and amend processes to avoid any recurrence prior to seeking approval to write-off. Compliance with the Financial Administration and Audit Act is audited annually by the Office of the Auditor General and any non compliance is reported to Parliament. Department of Industry and Resources: (1a) $3,165.70 (b) $0 (c) $1,827.15 (d) $2,221 972.51 (e) $67,439.88 (2) Yes (3) Compact Steel Pty Ltd; Katanning Mills Ltd; Ms Merle Moore and Mr Mark Smith; Australian Kaolin Ltd Compact Steel Pty Ltd $2,000,000 The Government of Western Australia on behalf of the State and Federal governments, entered into a loan agreement in 1992 with Compact Steel Pty Ltd for $2 million. The funds were used to conduct a feasibility study into establishing a steel mill in the Rockingham area. This was facilitated through the Department of Industry and Resources. Under the terms of the loan agreement, repayment of the advance was required if the project commenced or there was a termination of the agreement. The steel mill did not proceed due to the project failing to meet the required hurdle rate for investment. In 2003 the Directors of Compact Steel resolved that the company be dissolved as it was not trading and had no assets. Following that resolution the Australian Securities and Investments Commission deregistered the company on 1 July 2003. Katanning Mills Ltd $206,879.51 Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
Please refer to question on notice 3838. As the Member has stated, the write-off process is covered by the Financial Administration and Audit Act (FAAA). The FAAA has been in place since 1986 and similar provisions were in place in the Audit Act 1904. As a standard practice the agency would be expected to have taken all reasonable steps to recover and amend processes to avoid any recurrence prior to seeking approval to write-off. Compliance with the Financial Administration and Audit Act is audited annually by the Office of the Auditor General and any non compliance is reported to Parliament. Department of Industry and Resources: (1a) $3,165.70 (b) $0 (c) $1,827.15 (d) $2,221 972.51 (e) $67,439.88 (2) Yes (3) Compact Steel Pty Ltd; Katanning Mills Ltd; Ms Merle Moore and Mr Mark Smith; Australian Kaolin Ltd Compact Steel Pty Ltd $2,000,000 The Government of Western Australia on behalf of the State and Federal governments, entered into a loan agreement in 1992 with Compact Steel Pty Ltd for $2 million. The funds were used to conduct a feasibility study into establishing a steel mill in the Rockingham area. This was facilitated through the Department of Industry and Resources. Under the terms of the loan agreement, repayment of the advance was required if the project commenced or there was a termination of the agreement. The steel mill did not proceed due to the project failing to meet the required hurdle rate for investment. In 2003 the Directors of Compact Steel resolved that the company be dissolved as it was not trading and had no assets. Following that resolution the Australian Securities and Investments Commission deregistered the company on 1 July 2003. Katanning Mills Ltd $206,879.51 Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
As the Member has stated, the write-off process is covered by the Financial Administration and Audit Act (FAAA). The FAAA has been in place since 1986 and similar provisions were in place in the Audit Act 1904. As a standard practice the agency would be expected to have taken all reasonable steps to recover and amend processes to avoid any recurrence prior to seeking approval to write-off. Compliance with the Financial Administration and Audit Act is audited annually by the Office of the Auditor General and any non compliance is reported to Parliament. Department of Industry and Resources: (1a) $3,165.70 (b) $0 (c) $1,827.15 (d) $2,221 972.51 (e) $67,439.88 (2) Yes (3) Compact Steel Pty Ltd; Katanning Mills Ltd; Ms Merle Moore and Mr Mark Smith; Australian Kaolin Ltd Compact Steel Pty Ltd $2,000,000 The Government of Western Australia on behalf of the State and Federal governments, entered into a loan agreement in 1992 with Compact Steel Pty Ltd for $2 million. The funds were used to conduct a feasibility study into establishing a steel mill in the Rockingham area. This was facilitated through the Department of Industry and Resources. Under the terms of the loan agreement, repayment of the advance was required if the project commenced or there was a termination of the agreement. The steel mill did not proceed due to the project failing to meet the required hurdle rate for investment. In 2003 the Directors of Compact Steel resolved that the company be dissolved as it was not trading and had no assets. Following that resolution the Australian Securities and Investments Commission deregistered the company on 1 July 2003. Katanning Mills Ltd $206,879.51 Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
As a standard practice the agency would be expected to have taken all reasonable steps to recover and amend processes to avoid any recurrence prior to seeking approval to write-off. Compliance with the Financial Administration and Audit Act is audited annually by the Office of the Auditor General and any non compliance is reported to Parliament. Department of Industry and Resources: (1a) $3,165.70 (b) $0 (c) $1,827.15 (d) $2,221 972.51 (e) $67,439.88 (2) Yes (3) Compact Steel Pty Ltd; Katanning Mills Ltd; Ms Merle Moore and Mr Mark Smith; Australian Kaolin Ltd Compact Steel Pty Ltd $2,000,000 The Government of Western Australia on behalf of the State and Federal governments, entered into a loan agreement in 1992 with Compact Steel Pty Ltd for $2 million. The funds were used to conduct a feasibility study into establishing a steel mill in the Rockingham area. This was facilitated through the Department of Industry and Resources. Under the terms of the loan agreement, repayment of the advance was required if the project commenced or there was a termination of the agreement. The steel mill did not proceed due to the project failing to meet the required hurdle rate for investment. In 2003 the Directors of Compact Steel resolved that the company be dissolved as it was not trading and had no assets. Following that resolution the Australian Securities and Investments Commission deregistered the company on 1 July 2003. Katanning Mills Ltd $206,879.51 Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
Compliance with the Financial Administration and Audit Act is audited annually by the Office of the Auditor General and any non compliance is reported to Parliament. Department of Industry and Resources: (1a) $3,165.70 (b) $0 (c) $1,827.15 (d) $2,221 972.51 (e) $67,439.88 (2) Yes (3) Compact Steel Pty Ltd; Katanning Mills Ltd; Ms Merle Moore and Mr Mark Smith; Australian Kaolin Ltd Compact Steel Pty Ltd $2,000,000 The Government of Western Australia on behalf of the State and Federal governments, entered into a loan agreement in 1992 with Compact Steel Pty Ltd for $2 million. The funds were used to conduct a feasibility study into establishing a steel mill in the Rockingham area. This was facilitated through the Department of Industry and Resources. Under the terms of the loan agreement, repayment of the advance was required if the project commenced or there was a termination of the agreement. The steel mill did not proceed due to the project failing to meet the required hurdle rate for investment. In 2003 the Directors of Compact Steel resolved that the company be dissolved as it was not trading and had no assets. Following that resolution the Australian Securities and Investments Commission deregistered the company on 1 July 2003. Katanning Mills Ltd $206,879.51 Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
Department of Industry and Resources: (1a) $3,165.70 (b) $0 (c) $1,827.15 (d) $2,221 972.51 (e) $67,439.88 (2) Yes (3) Compact Steel Pty Ltd; Katanning Mills Ltd; Ms Merle Moore and Mr Mark Smith; Australian Kaolin Ltd Compact Steel Pty Ltd $2,000,000 The Government of Western Australia on behalf of the State and Federal governments, entered into a loan agreement in 1992 with Compact Steel Pty Ltd for $2 million. The funds were used to conduct a feasibility study into establishing a steel mill in the Rockingham area. This was facilitated through the Department of Industry and Resources. Under the terms of the loan agreement, repayment of the advance was required if the project commenced or there was a termination of the agreement. The steel mill did not proceed due to the project failing to meet the required hurdle rate for investment. In 2003 the Directors of Compact Steel resolved that the company be dissolved as it was not trading and had no assets. Following that resolution the Australian Securities and Investments Commission deregistered the company on 1 July 2003. Katanning Mills Ltd $206,879.51 Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
(1a) $3,165.70 (b) $0 (c) $1,827.15 (d) $2,221 972.51 (e) $67,439.88 (2) Yes (3) Compact Steel Pty Ltd; Katanning Mills Ltd; Ms Merle Moore and Mr Mark Smith; Australian Kaolin Ltd Compact Steel Pty Ltd $2,000,000 The Government of Western Australia on behalf of the State and Federal governments, entered into a loan agreement in 1992 with Compact Steel Pty Ltd for $2 million. The funds were used to conduct a feasibility study into establishing a steel mill in the Rockingham area. This was facilitated through the Department of Industry and Resources. Under the terms of the loan agreement, repayment of the advance was required if the project commenced or there was a termination of the agreement. The steel mill did not proceed due to the project failing to meet the required hurdle rate for investment. In 2003 the Directors of Compact Steel resolved that the company be dissolved as it was not trading and had no assets. Following that resolution the Australian Securities and Investments Commission deregistered the company on 1 July 2003. Katanning Mills Ltd $206,879.51 Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
(1a) $3,165.70 (b) $0 (c) $1,827.15 (d) $2,221 972.51 (e) $67,439.88 (2) Yes (3) Compact Steel Pty Ltd; Katanning Mills Ltd; Ms Merle Moore and Mr Mark Smith; Australian Kaolin Ltd Compact Steel Pty Ltd $2,000,000 The Government of Western Australia on behalf of the State and Federal governments, entered into a loan agreement in 1992 with Compact Steel Pty Ltd for $2 million. The funds were used to conduct a feasibility study into establishing a steel mill in the Rockingham area. This was facilitated through the Department of Industry and Resources. Under the terms of the loan agreement, repayment of the advance was required if the project commenced or there was a termination of the agreement. The steel mill did not proceed due to the project failing to meet the required hurdle rate for investment. In 2003 the Directors of Compact Steel resolved that the company be dissolved as it was not trading and had no assets. Following that resolution the Australian Securities and Investments Commission deregistered the company on 1 July 2003. Katanning Mills Ltd $206,879.51 Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
(b) $0 (c) $1,827.15 (d) $2,221 972.51 (e) $67,439.88 (2) Yes (3) Compact Steel Pty Ltd; Katanning Mills Ltd; Ms Merle Moore and Mr Mark Smith; Australian Kaolin Ltd Compact Steel Pty Ltd $2,000,000 The Government of Western Australia on behalf of the State and Federal governments, entered into a loan agreement in 1992 with Compact Steel Pty Ltd for $2 million. The funds were used to conduct a feasibility study into establishing a steel mill in the Rockingham area. This was facilitated through the Department of Industry and Resources. Under the terms of the loan agreement, repayment of the advance was required if the project commenced or there was a termination of the agreement. The steel mill did not proceed due to the project failing to meet the required hurdle rate for investment. In 2003 the Directors of Compact Steel resolved that the company be dissolved as it was not trading and had no assets. Following that resolution the Australian Securities and Investments Commission deregistered the company on 1 July 2003. Katanning Mills Ltd $206,879.51 Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
(c) $1,827.15 (d) $2,221 972.51 (e) $67,439.88 (2) Yes (3) Compact Steel Pty Ltd; Katanning Mills Ltd; Ms Merle Moore and Mr Mark Smith; Australian Kaolin Ltd Compact Steel Pty Ltd $2,000,000 The Government of Western Australia on behalf of the State and Federal governments, entered into a loan agreement in 1992 with Compact Steel Pty Ltd for $2 million. The funds were used to conduct a feasibility study into establishing a steel mill in the Rockingham area. This was facilitated through the Department of Industry and Resources. Under the terms of the loan agreement, repayment of the advance was required if the project commenced or there was a termination of the agreement. The steel mill did not proceed due to the project failing to meet the required hurdle rate for investment. In 2003 the Directors of Compact Steel resolved that the company be dissolved as it was not trading and had no assets. Following that resolution the Australian Securities and Investments Commission deregistered the company on 1 July 2003. Katanning Mills Ltd $206,879.51 Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
(d) $2,221 972.51 (e) $67,439.88 (2) Yes (3) Compact Steel Pty Ltd; Katanning Mills Ltd; Ms Merle Moore and Mr Mark Smith; Australian Kaolin Ltd Compact Steel Pty Ltd $2,000,000 The Government of Western Australia on behalf of the State and Federal governments, entered into a loan agreement in 1992 with Compact Steel Pty Ltd for $2 million. The funds were used to conduct a feasibility study into establishing a steel mill in the Rockingham area. This was facilitated through the Department of Industry and Resources. Under the terms of the loan agreement, repayment of the advance was required if the project commenced or there was a termination of the agreement. The steel mill did not proceed due to the project failing to meet the required hurdle rate for investment. In 2003 the Directors of Compact Steel resolved that the company be dissolved as it was not trading and had no assets. Following that resolution the Australian Securities and Investments Commission deregistered the company on 1 July 2003. Katanning Mills Ltd $206,879.51 Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
(e) $67,439.88 (2) Yes (3) Compact Steel Pty Ltd; Katanning Mills Ltd; Ms Merle Moore and Mr Mark Smith; Australian Kaolin Ltd Compact Steel Pty Ltd $2,000,000 The Government of Western Australia on behalf of the State and Federal governments, entered into a loan agreement in 1992 with Compact Steel Pty Ltd for $2 million. The funds were used to conduct a feasibility study into establishing a steel mill in the Rockingham area. This was facilitated through the Department of Industry and Resources. Under the terms of the loan agreement, repayment of the advance was required if the project commenced or there was a termination of the agreement. The steel mill did not proceed due to the project failing to meet the required hurdle rate for investment. In 2003 the Directors of Compact Steel resolved that the company be dissolved as it was not trading and had no assets. Following that resolution the Australian Securities and Investments Commission deregistered the company on 1 July 2003. Katanning Mills Ltd $206,879.51 Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
(2) Yes (3) Compact Steel Pty Ltd; Katanning Mills Ltd; Ms Merle Moore and Mr Mark Smith; Australian Kaolin Ltd Compact Steel Pty Ltd $2,000,000 The Government of Western Australia on behalf of the State and Federal governments, entered into a loan agreement in 1992 with Compact Steel Pty Ltd for $2 million. The funds were used to conduct a feasibility study into establishing a steel mill in the Rockingham area. This was facilitated through the Department of Industry and Resources. Under the terms of the loan agreement, repayment of the advance was required if the project commenced or there was a termination of the agreement. The steel mill did not proceed due to the project failing to meet the required hurdle rate for investment. In 2003 the Directors of Compact Steel resolved that the company be dissolved as it was not trading and had no assets. Following that resolution the Australian Securities and Investments Commission deregistered the company on 1 July 2003. Katanning Mills Ltd $206,879.51 Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
(3) Compact Steel Pty Ltd; Katanning Mills Ltd; Ms Merle Moore and Mr Mark Smith; Australian Kaolin Ltd Compact Steel Pty Ltd $2,000,000 The Government of Western Australia on behalf of the State and Federal governments, entered into a loan agreement in 1992 with Compact Steel Pty Ltd for $2 million. The funds were used to conduct a feasibility study into establishing a steel mill in the Rockingham area. This was facilitated through the Department of Industry and Resources. Under the terms of the loan agreement, repayment of the advance was required if the project commenced or there was a termination of the agreement. The steel mill did not proceed due to the project failing to meet the required hurdle rate for investment. In 2003 the Directors of Compact Steel resolved that the company be dissolved as it was not trading and had no assets. Following that resolution the Australian Securities and Investments Commission deregistered the company on 1 July 2003. Katanning Mills Ltd $206,879.51 Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
Compact Steel Pty Ltd $2,000,000 The Government of Western Australia on behalf of the State and Federal governments, entered into a loan agreement in 1992 with Compact Steel Pty Ltd for $2 million. The funds were used to conduct a feasibility study into establishing a steel mill in the Rockingham area. This was facilitated through the Department of Industry and Resources. Under the terms of the loan agreement, repayment of the advance was required if the project commenced or there was a termination of the agreement. The steel mill did not proceed due to the project failing to meet the required hurdle rate for investment. In 2003 the Directors of Compact Steel resolved that the company be dissolved as it was not trading and had no assets. Following that resolution the Australian Securities and Investments Commission deregistered the company on 1 July 2003. Katanning Mills Ltd $206,879.51 Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
The Government of Western Australia on behalf of the State and Federal governments, entered into a loan agreement in 1992 with Compact Steel Pty Ltd for $2 million. The funds were used to conduct a feasibility study into establishing a steel mill in the Rockingham area. This was facilitated through the Department of Industry and Resources. Under the terms of the loan agreement, repayment of the advance was required if the project commenced or there was a termination of the agreement. The steel mill did not proceed due to the project failing to meet the required hurdle rate for investment. In 2003 the Directors of Compact Steel resolved that the company be dissolved as it was not trading and had no assets. Following that resolution the Australian Securities and Investments Commission deregistered the company on 1 July 2003. Katanning Mills Ltd $206,879.51 Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
Katanning Mills Ltd $206,879.51 Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
Cabinet approved a loan of $230,000 on 1 April 1997 to the then Australian Quality Ingredients Limited (AQI) to purchase, recommission and expand the Katanning mill as a grain processing facility. Interest was chargeable at 4% per annum. The loan was to convert to a grant on achieving defined investment and performance milestones. The loan was secured by a mortgage on the land and building. AQI ceased operation in April 2000 and changed its name to Katanning Mills Limited (KML) in December 2000. In 2002, the Supreme Court of South Australia placed KML under official liquidation. The Government enforced the security and duly exercised its power of sale of the mortgaged property. The property was offered for sale by public auction in 2003 but failed to attract any bids. In 2004, the Department received a number of offers from interested buyers and accepted the highest offer of $80,000. However after outstanding shire rates and GST were deducted from the proceeds, the amount due to the department had been reduced to $57,063.10. As KML had no other assets to pursue, the balance of the loan was written off. Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
Ms Merle Moore $14,294.98 and Mr Mark Smith $24,981.98 The Aboriginal Enterprises Co Ltd (AEC Ltd) was established by the State Government in 1986 as a separate government owned company with the purpose of providing business loans to Aboriginal people. In July 1996 the AEC Ltd was merged into the Department of Commerce and Trade (DCT) and its loan portfolio transferred to the Minister for Commerce and Trade and to be administered by DCT, and then subsequently the Department of Industry and Resources. The AEC Ltd has since been wound up. The loans to Ms Moore and Mr Smith were considered uncollectible and the businesses associated with the loans have now ceased operations. Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
Australian Kaolin Ltd $20,398.51 Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
Australian Kaolin sub leased premises from the Aboriginal Enterprises Co Ltd (AEC Ltd) after AEC merged into the Department of Commerce and Trade in 1996. The unpaid rent and outgoings were related to the period February, 1998 to 9 May 1999 at which time the company was suspended from trading by the Australian Stock Exchange. Australian Kaolin was placed into liquidation and there was no return to creditors.
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