Member’s name: Mr Peter R Holt
Date of Hearing: 15 and 30 March 2012
Tribunal: Disciplinary Tribunal
On 30 March 2012 the Disciplinary Tribunal accepted Mr Peter R Holt's admission that by becoming insolvent he had breached Article 39(a)(ii)E of the Constitution.
The Disciplinary Tribunal noted that continued membership of CPA Australia is inconsistent with a member being bankrupt, at least for the period of bankruptcy.
The Disciplinary Tribunal acknowledged:
- the steps that Mr Holt has taken to ensure clients and staff were not affected by his personal circumstances;
- that Mr Holt made otherwise encumbered family assets available to ensure clients and staff were not affected; and
- the unfortunate circumstances that led to his insolvency.
Penalties and costs
The Disciplinary Tribunal imposed the sanction of forfeiture of Membership for the period of his bankruptcy and that Mr Holt contribute $997 to the costs of the Hearing.