RSL salary furore over director pay rises

Members of one of the biggest RSL clubs in Queensland are up in arms over what has been described as a “blatant money grab” by directors.

Salary controversy at Nambour RSL

Editor's Note – 16 May 2023   Following publication of this article, on 1 March 2023 Ms Walters was released from preservation orders previously obtained by ASIC and the Federal Court proceeding has been discontinued against her.

Members of one of the biggest RSL clubs in Queensland are up in arms over what has been described as a “blatant money grab” by directors.

Nambour RSL Club members will be asked to approve an almost 50 per cent hike in directors’ remuneration at the organisation’s annual general meeting next week.

The total remuneration paid to the club’s seven part-time directors will increase from $84,000 to $124,800 per annum under a move to an individual reward model.

Under the new system, the chairman will receive $24,000 a year, committee chair $18,000 and committee members $14,400.

Not a king’s ransom but angry members point out that only 18 per cent of not-for-profit directors in Australia get paid at all, meaning 82 per cent give their time voluntarily.

The club, which changed its name to Boldridge Management and Development Group in 2018, has more than 20,000 members with the organisation turning over $17m this year.

Salary controversy at Nambour RSL

The club has told members that following a review of its corporate governance responsibilities there had been a significant increase in responsibilities of each board member.

The club “recommends to members that they take this information into account when determining the level of remuneration.”

But one longstanding member of the club says the plans to hike remuneration has caused a lot of “distaste and some outright disgust” among the members. ”It appears to be a blatant grab for money,” says the member.

He says the board appears to be going through some trauma since the abrupt departure of long term chairman and former RSL president Len Bebbington in June.

Board members include Scripture Union Sunshine Coast boss Kerry Evans, University of the Sunshine Coast law lecturer Simone Pearce, local businessman Bill Sawry, former Sunshine Coast Sea Eagles chief executive Justin Veivers, RSL & Services Clubs Association chief executive Penny Wilson, and Orange Sky chief financial officer Melanie Woodward. The board did not respond to request for comment.

ROCK ON

VideoPro boss Cameron Douglas is a man of many talents – chief executive by day and rock god at night. Douglas, who got his first guitar at the age of eight and played in pub bands in his 20s, will be one of the corporate types hitting the stage at the Triffid on Saturday, November 6, for the fifth annual BrisBand competition.

Douglas (illustrated), who has taken part in every competition, says the standard of music at the event has improved with every year. “The first one was a bit high school dance night, but it has really picked up since then,” he says.

Cameron Douglas

The night will feature bands from Deloitte, VideoPro, EY, KPMG, Rio Tinto and PwC with all proceeds raised to help preterm babies and their families via the Children’s Hospital Foundation. Deloitte partner and Triffid part owner John Greig says that along with great live music there also will be silent auction items, raffle prizes and collectable BrisBand merchandise on sale. Greig says that as a father of a pre-term son, albeit 28 years ago, he knows first-hand the difference that early medical intervention makes to these bubs in later years. Tickets are available from Moshtix.

ASIC MOVE

Australia’s corporate regulator has moved to shutdown an unlicensed financial services business accusing its directors of using millions of dollars of investors funds to buy property, luxury vehicles and crypto-assets.

The Australian Securities and Investments Commission has obtained interim orders and injunctions from the Federal Court against A One Multi Services Pty Ltd and its Gold Coast-based directors Aryn Hala and Heidi Walters to protect investors who have deposited about $25m into the company’s accounts.

It is alleged Mr Hala told investors that he can help them invest their superannuation in a self-managed superannuation fund (SMSF) and then loan the money in their SMSF to A One Multi. ASIC alleges Mr Hala told investors that they would receive annual investment returns of over 20 per cent.

Between January 1, 2019 to June 30, 2021, more than 60 people deposited the $25m into A One Multi’s accounts.

However, ASIC alleges that Mr Hala has used more than $5.7m of A One Multi’s money for his and Ms Walters’ personal benefit, including through acquiring real property and luxury vehicles in their names.

In addition, more than $2.4m was transferred from A One Multi to buy crypto-assets.

Mr Hala and Ms Walters could not be reached for comment.

On October 21 the Federal Court ordered A One Multi to be put into the receivership of John Ross Lindholm and Timothy James Michael.

Physical imitation of Bitcoins are pictured at a cryptocurrency exchange branch near the Grand Bazaar in Istanbul.