XN000022-1980-06-25 — Page 11

WEDNESDAY, JUNE 25, 1980

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+FOR EXAMPLE, THE WHOLE OF THE LAND OFFICE RECORDS AS WELL AS THE COMPANIES REGISTRY IS OPENED TO EVERYONE, AND IT WOULD BE OBVIOUSLY OPPRESSIVE IF THE ICAC WERE TO REQUIRE A PERSON TO FURNISH INFORMATION THEREFROM, SINCE MEMBERS OF THE COMMISSION COULD FREELY ATTAIN ACCESS THEMSELVES, HE SAID.

THIS POINT WAS AGREED BY THE ADMINISTRATION AND APPROPRIATE AMENDMENTS WERE MADE TO THE BILL.

FOURTHLY, ON THE POWER SOUGHT BY THE COMMISSION TO FREEZE A SUSPECT'S BANK ACCOUNTS OR HIS DEPOSIT-TAKING COMPANY ACCOUNTS, THE UNOFFICIALS RECOGNISED THE IMPORTANCE OF ENSURING THAT THE CORRUPT SHOULD NOT BE PERMITTED TO SALT AWAY HIS ILL-GOTTEN GAINS AND EVERY EFFORT OUGHT TO BE MADE BY THE ICAC TO DENY HIM OF THEM,

HOWEVER, MR LO POINTED OUT THAT NOT ALL SUSPECTS ARE CRIMINALS AND ASKED IF AN INNOCENT PERSON'S ACCOUNT IS FROZEN, WHO WILL PAY FOR THE DAMAGE THAT HE MAY SUFFER FOR FAILING TO MEET A CONTRACTUAL OBLIGATION.

IT IS NOW AGREED THAT ONLY THE ICAC COMMISSIONER OR HIS DEPUTY MAY ORDER THE FREEZING OF AN ACCOUNT AND THAT HE WILL BE IN A POSITION TO AND WILL TAKE INTO ACCOUNT THE SUSPECT'S MORAL, LEGAL AND DAILY NEEDS. AGAINST THE COMMISSIONER'S DECISION, AS AT PRESENT, AN APPEAL WILL LIE TO THE COURTS.

+ IF BETWEEN THE PERIOD OF HIS DECISION AND FINAL RESOLUTION BY THE COURTS, THE FREEZING OF A PERSON'S ACCOUNT HAS CAUSED HIM TO SUFFER DAMAGE THROUGH FAILURE TO MEET HIS LEGAL OBLIGATIONS AND THE EXISTENCE OF SUCH OBLIGATION WAS PREVIOUSLY DRAWN TO THE ATTENTION OF THE COMMISSIONER, THEN THE ICAC WOULD BE LIABLE FOR DAMAGES IN THE EVENT THAT THE SUSPECT IS NOT CHARGED OR IS ACQUITTED, MR LO ADDED.

FIFTHLY, CONCERNING THE NOTICE RESTRAINING THE DISPOSAL OF A SUSPECT'S PROPERTY TO BE REGISTRABLE IN THE LAND OFFICE, MR LO SAID THIS CAUSED LESS OF A PROBLEM THAN WAS ANTICIPATED,

+THE NOTICE IS NOT AN INCUMBRANCE ON THE PROPERTY AND A THIRD PARTY IS NOT PROHIBITED FROM SAY, BUYING IT, BUT OBVIOUSLY IT WOULD BE WISE FOR THE BUYER TO ENSURE THAT SUITABLE ARRANGEMENTS ARE MADE IN REGARD TO ANY FUNDS PAYABLE TO THE SUSPECTED OWNER, HE SAID.

+OTHERWISE, HE MAY WELL FIND HIMSELF SUSPECTED OF CONSPIRACY. IN THE CASE OF INNOCENT PEOPLE, THE COMMISSION WILL, I UNDERSTAND, ARRANGE TO EXPUNGE THE ENTRY FROM THE LAND OFFICE RECORDS THROUGH A CLEVER SYSTEM INVENTED BY THE REGISTRAR GENERAL.+

MR LO ALSO EXPRESSED CONCERN THAT OVER THE YEARS, ANYONE INVESTIGATED BY THE ICAC IS AUTOMATICALLY TREATED AS A CRIMINAL, WORSE, AS A LEPER, BY HIS EMPLOYER ASSOCIATES AND ACQUAINTANCES, NO MATTER HOW INNOCENT THE PERSON TURNS OUT TO BE.

+1 AM PLEASED TO SAY, HOWEVER, THAT THE COMMISSIONER HAS NOW AGREED TO CONSIDER ADOPTING A PROCÉDURE OF WRITING TO THOSE SUSPECTS IN RESPECT OF WHOM ALL INVESTIGATIONS ARE TERMINATED AND NO CHARGES ARE CONTEMPLATED, HE SAID.

/SIXTHLY,

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