ASIC notes the decision of Justice Robson of the Supreme Court of Victoria in the matter of Paul John Ingleby, the former Chief Financial Officer of AWB Limited (AWB). Justice Robson found that Mr Ingelby had contravened section 180(1) of the Corporations Act 2001 (Corporations Act) and ordered that he be disqualified from managing corporations until 31 December 2012 and pay a pecuniary penalty of $10,000. Both ASIC and Mr Ingleby had recommended penalties of a disqualification of 15 months and a pecuniary penalty of $40,000. In June 2012, Mr Ingleby admitted contravening the Corporations Act by failing to act upon information available to him to ascertain whether or not inland transport fees were ultimately paid to the government of Iraq arising from AWB’s supply of wheat to Iraq under the United Nations Oil-for-Food Programme. ASIC is reviewing the judgment and does not intend commenting further at this time.