The Office of the Director of Public Prosecutions (Cth) (CDPP) has discontinued proceedings against Clive Frederick Palmer for aiding and abetting Palmer Leisure Coolum Pty Ltd (PLC) to breach takeover law in 2012.

Mr Palmer, a director of PLC at the time, was charged in 2018 with contravening section 631(1) of the Corporations Act 2001 – through the operation of section 11.2 of the Criminal Code – for aiding, abetting, counselling or procuring the company to commit the offence.

PLC was convicted of the offence on 27 October 2026 and was sentenced to a fine of $10,000.

In the Brisbane Magistrates Court today, the CDPP said that it would not proceed with the charge against Mr Palmer.

The CDPP’s decision was made having regard to the Prosecution Policy of the Commonwealth.

Following the CDPP’s decision, ASIC considers this matter finalised.

Background

Further background to this matter is available in (18-095MR) and (26-113MR).