Parent company of Nauru offshore operator fails to file reports in apparent breach of corporations law

Asic registers report of misconduct' against Canstruct owner Rard No 3 for failing to lodge financial reports with the corporate regulator

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The parent company of the firm that runs Australia's offshore processing regime on Nauru has failed to lodge financial reports with the corporate regulator on time, in an apparent breach of corporations law.

The Australian Securities and Investments Commission has confirmed that it has registered a report of misconduct" against Rard No 3, the Brisbane-based company that wholly owns Canstruct International, following the Guardian's inquiries. The potential penalty for filing a report late is a fine of more than $25,000.