Dr Kaye, Homebush & An Official Look See...??

[GTRMagic]

Whispers from the powder room suggest that there may or may not be a formal investigation in progress into the overall soundness of the contractual arrangements between the various Iemma/Rees/Keneally-controlled NSW Government departments, and V8Supercars Australia, amongst others, to establish & operate the Homebush street race event.

It has been suggested that Dr John Kaye, a Greens NSW MLC, has spent significant time researching the circumstances surrounding the securing of the Homebush event, and has apparently proposed the following motion in recent days:

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Dr Kaye has proposed:

1. That under section 73 of the Independent Commission Against Corruption Act 1988, this House refers to the Independent Commission Against Corruption (ICAC) for investigation and report with respect to:

(a) the circumstances surrounding the awarding of $35 million in State Government investment in the V8 Supercar races at Sydney Olympic Park, which has now grown to $45 million,

(b) the circumstances surrounding the signing of the deed between the Department of State Development and V8 Supercars Australia in the absence of a business plan, appropriate probity and accountability plans, expert external advice and assistance and a cost benefit analysis of the Homebush venue and other alternatives,

(c) the circumstances surrounding the July 2008 leaking to the media of the in-principle support for public financial assistance,

(d) the role played by the then Minister for State Development, the Honourable Ian Macdonald, and Mr Greg Jones in securing the financial assistance for the event,

(e) any recommended action by the New South Wales Government with respect to the remaining financial assistance to be paid to V8 Supercars Australia,

(f) any recommended action by the New South Wales Government with respect to amendment of the Homebush Motor Racing (Sydney 400) Act 2008, other relevant legislation and relevant government policies, and

(g) whether the New South Wales Government should commence legal proceedings, or take any other action, against any individual or company in relation to the circumstances surrounding the awarding of financial assistance to the V8 Supercars Australia.

2. That, as deemed necessary, the Commissioner may also inquire into any related matters.
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So what does this mean?

Well presuming for a moment that such a motion reaches/has reached the 'to-do' list for ICAC... it seems there might or might not be some public inquiries into the process steps undertaken to first secure, and then maintain the Homebush event.

What is also possible is for some senior bods formerly in government, either as Ministers or of their employ or contractual acquaintance, as well as potentially current or former V8Supercar senior staffers, experts in various areas, alternate suppliers of services or racing facilities perhaps, may be required to provide documentation, to be subject to interview, to be subject to investigation, to be subject to probity, by ICAC according to the above, into the events that led up to the signing of various agreements between the parties surrounding the Homebush event & perhaps beyond!

Dr Kaye's terms of reference, should they actually exist, seem to focus on a number of specific areas to be inquired into, suggesting that perhaps Dr Kaye's own research may or may not have found more than some of these areas wanting... and needing answers as to how they could have happened, and to ensure that process, procedure & oversight are put into place to make sure they do not reoccur.

Plus.. by apparently not excluding anyone from the alleged investigation, and suggesting an apparently unexplored possibility for legal action against those parties who may or may not be identified as any perpetrators to any wrongdoing found by ICAC, if such an inquiry were to occur, may be brought to account through the court system!

Archer Capital isnt a public company per se, however they do participate in the funds management space, so someone might wonder whether such an inquiry, should it indeed be in train, might formalise a requirement of disclosure to the financial circuits as it may or may not change perceptions of value or somesuch...

Fun times ahead...

Presuming any of this actually happened of course

[rik]

All sounds like a load of political rubbish from here.... I'd be amazed if corrupt behaviour by anyone could be substantiated.

However, it's pretty much going to ensure the contract for Homebush isn't renewed!

Time to call Eastern Creek?

[TWRv12]

Not sure how the cookie crumbles in NSW, but would Kaye gets enough support for this?
http://en.wikipedia.org/wiki/New_Sou...2.80.932015.29

[Alan52]

Originally Posted by rik

All sounds like a load of political rubbish from here.... I'd be amazed if corrupt behaviour by anyone could be substantiated.

However, it's pretty much going to ensure the contract for Homebush isn't renewed!

Time to call Eastern Creek?

Given the ICAC investigations into various other aspects of Ian Macdonald's political life (Ron Medich,Tiffany etc) you might have to be prepared to be amazed.

[Denosaur]

Originally Posted by rik

However, it's pretty much going to ensure the contract for Homebush isn't renewed!

I'd very much doubt it if there getting crowds to the event......

Somehow you'll find that this won't happen and some greenie's will get some tree's or flower protected somewhere else.....

[Casper]

Look at this mister GTR http://tentenths.com/forum/showthread.php?t=131310