Media Release from the Registrar of Companies

26 April 2006

For Immediate Release

Result of Investigation Into Matters Concerning Queens Park Mews Limited and David Parker MP

The Registrar of Companies has announced today that he has accepted the advice of the Auckland Office of the Crown Solicitor, Meredith Connell, that no prosecution action be taken against Mr Davld Parker MP, or any other director associated with Queens Park Mews Limited.

The decision follows an investigation by the Companies Office arising from allegations of false or misleading documents having been filed with the Companies Office.

The investigation focused on the actions of all directors associated with Queens Park Mews Limited, and was subsequently extended to two related companies - St James Limited and Emplre Delux Limited.

The Investigation process included examination of various documents, including company annual returns filed with the Companies Office, and included interviewing persons associated with the companies at the relevant time.

At the conclusion of the investigation, the factual findings were referred to the Crown Solicitor for legal advice.

On the question of whether false statements had been made to the Companies Once, the Crown Solicitor has concluded: ''there is no basis whatsoever for a prosecution of Mr David Parker for an offence or offences under section 377(1) of the Companies Act of making or authorising the making of a statement in an annual return that is false or misleading knowing it to be false or misleading."

The Crown Solicitor has also noted in relation to the more minor matters of the maintenance of company records and the late filing cf annual returns that the non-compliance identified did not warrant the intervention of the criminal law.

The Registrar has considered and accepted the advice from the Crown Solicitor, A copy of the opinion of the Crown Solicitor is attached. It is not common practice to provide copies of legally privileged communications. In this case, however, the Registrar is releasing the opinion in light of the complexity of the issues and the public interest considerations.

ENDS

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