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BILLIONAIRE Richard Pratt might have to quit as Carlton Football Club president after his admission that his company Visy ran the biggest price-fixing cartel in Australian corporate history.
Collusion by Visy and its rival Amcor to fix prices will be raised in determining whether Mr Pratt is an appropriate person to hold a gaming licence. If he is considered inappropriate, he will have to stand down from the position at Carlton, the club he has almost single-handedly saved in the past year.
Members of boards of clubs, such as Carlton, or companies that hold gaming licences must be assessed for their suitability by the Victorian Commission for Gaming Regulation. Mr Pratt's application for a gaming licence is being processed.
The Gambling Regulation Act requires a person seeking a gaming licence to be "of good repute, having regard to character, honesty and integrity".
Mr Pratt's company has admitted to 103 breaches of the Trade Practices Act by colluding to fix prices. He has agreed to pay $36 million of a total $38 million in fines as part of a mediated settlement with the Australian Competition and Consumer Commission. The offences admitted are not criminal.
The executive commissioner of the VCGR, Peter Cohen, said the commission would wait for a Federal Court ruling on the settlement before considering Mr Pratt's application.
"We are aware of Mr Pratt's issues and we are monitoring that situation to see if anything arises from that which would concern us," he said.
"We do not prejudge anyone, and we are not yet in a position to judge Mr Pratt as there are outstanding matters before the courts. We will treat Mr Pratt the same as we would treat any other applicant. We need to be satisfied that he is an appropriate person to be involved in gaming."
The VCGR will balance the Visy admissions with Mr Pratt's lifetime in business and philanthropy.
In court Mr Pratt distanced himself from the collusion, saying he was unaware of much of the detail of what took place.
"I know a lot more now than I knew then, but I sincerely regret what happened and I accept ultimate responsibility," he said outside court.
Carlton chief executive Greg Swann said he was confident the application would be accepted. "I have no concerns. Dick has established his reputation over 50 years in business and philanthropy," he said.
Gambling experts have called on the VCGR to refuse Mr Pratt's application. Dr Charles Livingstone, senior lecturer in the School of Primary Health Care at Monash University, said it would "not be a good look" for someone who had admitted such significant deception offences to be deemed appropriate to hold a gaming licence.
"I think it would be inappropriate if he was able to continue as a gaming operator. He is the principal person at the club and it would not be a good look in my opinion. If the authority is disposed to give him the licence he is seeking I think people might well be concerned about that," he said.
Dr James Doughney, senior researcher at Victoria University called for Mr Pratt's name to be excised from Carlton's licence application.
http://realfooty.com.au/news/news/pratt-presidency-in-doubt/2007/10/23/1192941065447.html










