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June - Professional Conduct Tribunals
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14 June 2007 
 
Terence Chilvers CA of New South Wales 
 
The Tribunal found a case established that Mr Chilvers was liable to disciplinary action in accordance with:

  1. By-Law 40(e), in that on 30 March 2007 the Australian Securities and Investments Commission (“ASIC”) made an order under paragraphs 920A(1)(f) and section 920B of the Corporations Act 2001 to prohibit him from providing any financial services for a period of two years (“banning order”), ASIC having found that he was involved in each of Corporate Capital Securities Pty Ltd and Finance Professionals Alliance Pty Ltd not complying with financial services laws and having also found that he will not comply with a financial services law; and
    2.  
     
  2. By-Law 40 (j), in that his conduct referred to in allegation 1 above, resulting in the banning order, brings or is likely to bring, discredit upon Mr Chilvers, the Institute or the profession of accountancy.
The decision of the Tribunal was that Mr Chilvers’ membership of the Institute be cancelled until 30 March 2009, and that he be required to pay $600 plus GST towards the costs of the disciplinary action. The Tribunal also ordered that notification of its decisions be given to relevant professional bodies and statutory authorities. 
 
 
14 June 2007 
 
Ronald John Dean-Willcocks FCA of New South Wales 
 
On his own admission, the Tribunal found a case established that Mr Dean-Willcocks was liable to disciplinary action in accordance with By-Law 40(e), in that on 8 November 2006 the Honourable Justice Tamberlin in his Reasons for Judgement in Dean-Willcocks v Companies Auditors and Liquidators Disciplinary Board [2006] FCA 1438 affirmed the determination of the Companies Auditors and Liquidators Disciplinary Board (“the CALDB”) of 22 December 2005 and the Orders made by the CALDB of 12 April 2006 that:
  1. he failed within the meaning of s1292(2)(d) of the Corporations Act 2001 to carry out or perform adequately and properly the duties of a liquidator and duties or functions required by an Australian law to be carried out or performed by a registered liquidator;
    2.  
     
  2. his registration as a liquidator be suspended for a period of twelve months commencing on the day which is 60 days from the date the CALDB order takes effect;
    3.  
     
  3. he pay 50% of ASIC’s costs; and that
    4.  
     
  4. ASIC be allowed to include in its costs the costs of briefing Senior Counsel in the matter.
The decision of the Tribunal was that; having regard to the decision of the CALDB on a matter of independence involving standards in 1998 to 2000, no further sanctions be imposed but that Mr Dean-Willcocks be required to pay $600 towards the costs of the disciplinary action. In making this determination the Tribunal noted the importance of independence to all members.