Institute backs Dominion Finance director
Dominion Finance director Vance Arkinstall may have resigned from the Investment Savings and Insurance Association, but fellow director Rick Bettle has retained his position as a presenter for the Institute of directors.
Both men are among six directors of Dominion Finance Group and sister company North South Finance Group facing criminal and civil charges brought by the Securities Commission.
Mr Bettle is an accredited fellow and past president of the Institute of Directors (IOD). His current role is presenting IOD courses on effective chairmanship and governance.
Kerry McDonald, president of the National Council which governs the IOD, told NBR Print the institute was conscious that one of its members faced charges and was a director of more than two companies in receivership.
But the IOD would not be taking any action.
“The rules of the IOD are clear," Mr McDonald said. "We don’t have grounds under our constitution to take action against someone, other than in circumstances where there is a clear legal basis has been established for that."
“The bottom line is we are not taking any action we are conscious of the position. We will allow due process to be followed and will be interested in the outcome.”