The Australian Securities and Investments Commission (ASIC) has disqualified former Queensland Senator Claire Mary Moore from managing corporations for four years arising from her role as a director of failed companies Warwick Gold Holdings Pty Ltd and Impact Gold Ltd.

Warwick Gold and Impact Gold entered liquidation in 2024 with substantial shortfalls, with Ms Moore appointed a director of both companies on 18 July 2023.

Both companies issued shares to raise funds for purported gold and precious metal mining operations in Papua New Guinea (Impact Gold) and Queensland (Warwick Gold). When the companies entered liquidation, $44 million had been raised from around 400 shareholders.

ASIC found that Ms Moore failed to meet her obligations as a director because her management of the companies fell well below the standard expected of Australian directors.

The regulator found that Ms Moore:

• failed to take part in the management of the companies (including making relevant enquiries and identifying operational and financial risk) and, in so doing, failed to monitor and guide the companies,
• failed to ensure that Impact Gold (as a public company) complied with its obligation to maintain adequate financial records, and
• failed to assist the liquidator by providing required information.

Ms Moore is disqualified from managing corporations until 17 December 2029.

Ms Moore has the right to seek a review of ASIC’s decision by the Administrative Review Tribunal.