A spokesperson for Asic confirmed to Guardian Australia that Rard No 3 had failed to report by the extended deadline and the report had still not been lodged nearly two months later. The spokesperson also confirmed Rard No 3 had consistently lodged late every year since it began filing reports three years ago. Asic has not commenced a prosecution against Rard No 3.
“This year’s report has been slightly impacted by Covid-related delays as we rely on third-party compliance information. This information has taken longer than usual to receive. It is inaccurate to suggest that a slight delay is a criminal breach of the Corporations Act. “Canstruct has always complied with overall reporting obligations and our accountants will be ensuring that we continue to do so.”
Canstruct International’s Nauru contract with the federal government contributes the vast majority of Rard No 3’s revenue and profits. Previous financial reports from Rard No 3 – also filed several months late according to the Asic register – show a dramatic increase in profits, from $69.5m after tax in 2018/19 to $101m in 2019/20.
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