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You can find the current article at its original source at https://www.theguardian.com/australia-news/2016/may/12/malcolm-turnbull-listed-in-panama-papers
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| Malcolm Turnbull's role in offshore company revealed in Panama Papers | Malcolm Turnbull's role in offshore company revealed in Panama Papers |
| (about 2 hours later) | |
| The prime minister, Malcolm Turnbull, was previously listed as the director of a British Virgin Islands company that Mossack Fonseca acted as registered agent for, the Panama Papers have disclosed. | |
| The Panama Papers database lists Turnbull’s historical role with the company more than 20 years ago, which was part of a subsidiary of an Australian publicly listed mining company Star Mining NL. | The Panama Papers database lists Turnbull’s historical role with the company more than 20 years ago, which was part of a subsidiary of an Australian publicly listed mining company Star Mining NL. |
| Documents from Mossack Fonseca – the Panamanian law firm at the centre of the biggest leak in history – show that the company acted as registered agent for Star Technology Systems during the period of Turnbull’s directorship. | Documents from Mossack Fonseca – the Panamanian law firm at the centre of the biggest leak in history – show that the company acted as registered agent for Star Technology Systems during the period of Turnbull’s directorship. |
| Related: Panama Papers make Bill Shorten's election sales pitch less taxing | Lenore Taylor | Related: Panama Papers make Bill Shorten's election sales pitch less taxing | Lenore Taylor |
| A register of the shareholder and directors of Star Technology Systems Limited lists Turnbull as the director of the entity in 1993. His name appears alongside the former New South Wales premier Neville Wran. Both men ceased being involved with the subsidiary company in 1995. | |
| Turnbull said there had been “no suggestion of any impropriety whatsoever” when asked about the reports on Thursday.“The company concerned was a wholly owned subsidiary of a publicly listed Australian company. So an ASX listed company of which Neville Wran and I were both directors for about two years,” he said.“So it is – the involvement is very, very well known and as the article [in the Australian Financial Review] acknowledges, there’s no suggestion of any impropriety at all.” | Turnbull said there had been “no suggestion of any impropriety whatsoever” when asked about the reports on Thursday.“The company concerned was a wholly owned subsidiary of a publicly listed Australian company. So an ASX listed company of which Neville Wran and I were both directors for about two years,” he said.“So it is – the involvement is very, very well known and as the article [in the Australian Financial Review] acknowledges, there’s no suggestion of any impropriety at all.” |
| A spokesman said Turnbull was not aware of Mossack Fonseca’s role as registered agent of the company. | A spokesman said Turnbull was not aware of Mossack Fonseca’s role as registered agent of the company. |
| The role of registered agent does not involve any management of the operations of companies but will generally involve companies like Mossack Fonseca dealing with company registry in the British Virgin Islands or other countries. | The role of registered agent does not involve any management of the operations of companies but will generally involve companies like Mossack Fonseca dealing with company registry in the British Virgin Islands or other countries. |
| The documents show that a company called Capital Corporate Services Limited, which acted on behalf of Star Technology Systems Limited, was dealing directly with Mossack Fonseca. | The documents show that a company called Capital Corporate Services Limited, which acted on behalf of Star Technology Systems Limited, was dealing directly with Mossack Fonseca. |
| Related: Labor blows hot and cold over Coalition plan to disclose shell company details | Related: Labor blows hot and cold over Coalition plan to disclose shell company details |
| It is not uncommon for publicly listed Australian companies to maintain subsidiaries in the British Virgin Islands. | It is not uncommon for publicly listed Australian companies to maintain subsidiaries in the British Virgin Islands. |
| The Australian Financial Review’s revelation that Turnbull’s name appeared in the database drew criticism from Arthur Sinodinos. | The Australian Financial Review’s revelation that Turnbull’s name appeared in the database drew criticism from Arthur Sinodinos. |
| “That is a dead horse being flogged, it’s a 20-year matter, it’s old news – they just want to run it because they can. The Fin Review on its front page should be debating policy instead of behaving like a downmarket tabloid,” he said on Radio National on Thursday morning. | “That is a dead horse being flogged, it’s a 20-year matter, it’s old news – they just want to run it because they can. The Fin Review on its front page should be debating policy instead of behaving like a downmarket tabloid,” he said on Radio National on Thursday morning. |
| But Labor’s campaign spokeswoman, Penny Wong, called on the prime minister to provide a full explanation of Turnbull’s involvement in the company. | But Labor’s campaign spokeswoman, Penny Wong, called on the prime minister to provide a full explanation of Turnbull’s involvement in the company. |
| “How many other companies was he involved in which were established in tax havens?” she asked. “How many other companies was he involved in that Mossack Fonseca was involved with?” | “How many other companies was he involved in which were established in tax havens?” she asked. “How many other companies was he involved in that Mossack Fonseca was involved with?” |
| “He should be very upfront in answering questions about what he did or didn’t know about the activities of this company in relation to the Siberian goldmine.” | “He should be very upfront in answering questions about what he did or didn’t know about the activities of this company in relation to the Siberian goldmine.” |
| The Coalition’s campaign spokesman, Mathias Cormann, said Turnbull had no questions to answer over his role in the company. “No, is the short answer,” he said. | The Coalition’s campaign spokesman, Mathias Cormann, said Turnbull had no questions to answer over his role in the company. “No, is the short answer,” he said. |
| “Obviously this is more than 20 years ago. There is absolutely no suggestion of any wrongdoing.” | “Obviously this is more than 20 years ago. There is absolutely no suggestion of any wrongdoing.” |
| • This article was amended on 12 May 2016 to clarify that the prime minister was a director of Star Technology Systems Limited and not the managing director. |