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Queensland Government investigates Adani

1426501911267By Tony Moore From The Age

Federal Environment Minister Greg Hunt says it’s up to the Queensland Government to investigate the complex company structure of Adani, which proposes to operate in the Galilee Basin.

Fairfax Media has found a complex web of companies tied to Adani’s Australian coal developments, extending from the low-tax regime of Singapore to the tax haven of the Cayman Islands.

Greens Senator Larissa Waters has written to the Australian Securities and Investments Commission asking them to investigate apparent discrepancies in the company’s documents.

On Monday, Mr Hunt said it was the state government, not the federal government, who held ultimate responsibility for doing due diligence on companies with which it dealt.

“Those are matters for the Queensland Government under Queensland law,” Mr Hunt told reporters.

“I know that the new Queensland Government has indicated that they will be putting forward a proposal.”

Mr Hunt said some issues raised by Senator Waters were covered by federal legislation.

“There are certain matters which you can consider under federal law and certain matters which would be in breach of the federal law,” Mr Hunt said.

“So we are covering all matters which are covered by the federal law.

“But in terms of the specific issues you raise they are matters for the Queensland government under Queensland law.”

Mr Hunt said he had discussed the issues with the Labor government.

What we have agreed on is that they will deal with all matters that are relevant to Queensland law and we will deal with all matters that deal with Commonwealth law.”

On Monday night, a spokeswoman for Queensland State Development Minister Anthony Lynham said that they had conducted their due diligence.

“The Foreign Investment Review Board has completed its investigation of Adani,” the spokeswoman said.

“Queensland Treasury has also carried out the appropriate due diligence on Adani.”

The spokeswoman said Adani was now operating in the Australian regulatory framework.

IMAGE: Indian company Adani wants to build one of the country’s biggest coal mines in the Galilee Basin. Photo: Peter Braig

For more on this story go to: http://www.theage.com.au/queensland/queensland-government-investigates-adani-20150316-1m0max.html

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