ASIC database sale off

The federal government has officially walked away from its plan to privatise the Australian Securities and Investments Commission corporate database of critical information on more than 2 million private companies in Australia.

Opposition to the proposed sale has grown. A GetUp! petition signed by more than 40,000 academics, journalists and others called on the government to reverse the plan as the privatisation would impede corporate transparency in Australia.

The database has been central to efforts to expose tax avoidance by private companies, money laundering, financing terrorism and labour exploitation.

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