Fed: Corporate cop denies knowledge of tax scandal
Corporate watchdog head DAVID KNOTT has distanced himself from a tax scandal involvinga former business partner, saying it has nothing to do with his early exit from his job.
Treasurer PETER COSTELLO has defended Mr KNOTT, who announced his resignation frombeing chairman of the Australian Securities and Investments Commission this week, withtwo years still to run on his contract.
It's been revealed Mr KNOTT had been in a legal partnership with tax scheme promoterIAN COLLIE in the early 1980s.
Mr COLLIE later faced legal action over tax avoidance schemes.
But Mr KNOTT says he had no knowledge of the tax schemes at the time.
And he denies he later tried to cover up the relationship or that his resignation hasanything to do with the matter.
AAP RTV kmh/sb/rca/rp
KEYWORD: ASIC (CANBERRA)
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