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2nd December 2003, 12:20

So an unexpected event makes a prior decision a bad one. All decisions have consequences - some unforseen. Yes, it is important that people become aware of the potential consequences.

If after taking a loan (irrespective of whether it is over 5k or not) one declares a dividend that one cannot pay without redeeming the loan then that is at best foolish anyway.

It is also probably in contravention of other parts of the CA because the retained profit would not have existed to pay it.

You do raise an interesting point about NCIS though. Where the boundary lies is unclear. To be on the safe side I think all advisors should report all transactions. After all that meeting room I hired might have been with the local drug dealer to sort out my importation of another 100ks of coke.

If this were to happen then hopefully NCIS would get completely swamped under the weight and we could get back to some sensible regulations.

2nd December 2003, 12:20	#7
ASB Posts: n/a	What ifs So an unexpected event makes a prior decision a bad one. All decisions have consequences - some unforseen. Yes, it is important that people become aware of the potential consequences. If after taking a loan (irrespective of whether it is over 5k or not) one declares a dividend that one cannot pay without redeeming the loan then that is at best foolish anyway. It is also probably in contravention of other parts of the CA because the retained profit would not have existed to pay it. You do raise an interesting point about NCIS though. Where the boundary lies is unclear. To be on the safe side I think all advisors should report all transactions. After all that meeting room I hired might have been with the local drug dealer to sort out my importation of another 100ks of coke. If this were to happen then hopefully NCIS would get completely swamped under the weight and we could get back to some sensible regulations.