ASIC has disqualified Damian and Marie Dodds of Thornlands, Queensland, and Stephen Anderson of Capalaba, Queensland, from managing corporations, following reports from liquidators.

Both Mr Dodds and Mr Anderson have been disqualified for 2 years and 6 months. Ms Dodds has been disqualified for an 18-month period.

The disqualification follows the appointment of liquidators to the following companies:

• OneCash Ltd ACN 161 241 612 (OneCash);
• RPMZone Pty Ltd ACN 165 793 279 (RPMZone);
• DSM Connect Pty Ltd ACN 147 812 235 (DSM); and
• All Breads Australia Pty Ltd ACN 161 705 031 (All Breads).

As a result of information contained in the liquidator reports, ASIC concluded that:

• Mr Dodds had failed to ensure that OneCash had complied with record keeping obligations, failed to ensure OneCash, RPMZone and All Breads had paid taxes and failed to discharge his duty as a director of all three companies;
• Ms Dodds had failed to ensure that OneCash had complied with record keeping obligations, failed to ensure OneCash and All Breads had paid taxes and failed to discharge her duty as a director of both companies; and
• Mr Anderson had failed to ensure that OneCash and DSM had complied with record keeping obligations, failed to ensure OneCash, DSM and All Breads had paid taxes and failed to discharge his duty as a director of all three companies.

Liquidators reported that the total amount owed to creditors exceeded $60,000,000 across all four companies.

Mr Dodds and Mr Anderson are disqualified from managing corporations until 29 May 2021, while Ms Dodds has been disqualified from managing corporations until 29 May 2020.

Background

Mr Anderson was director of OneCash, DSM and All Breads.

Mr Dodds was director of OneCash, RPMZone and All Breads.

Ms Dodds was director of OneCash and All Breads.

Section 206F of the Corporations Act allows ASIC to disqualify a person from managing corporations for up to five years if, within a seven-year period, the person was an officer of two or more companies, and those companies were wound up and a liquidator provides a report to ASIC about the company’s inability to pay its debts.

ASIC maintains a public register of banned and disqualified persons that provides information about people who have been:

• disqualified from involvement in the management of a corporation;
• disqualified from auditing self-managed superannuation funds (SMSFs); or
• banned from practising in the financial services or credit industry.

Note - Media release was previously numbered 18-378MR.