On 22 June 2023 the Senate established a select committee, to be known as the Select Committee on the Perth Mint and Commonwealth regulatory compliance, to inquire into and report on the corporate and regulatory compliance of Gold Corporation and its trading entity, the Perth Mint, with Commonwealth legislation, with particular reference to: 

(a) current and historical compliance with Australian anti-money laundering regulatory requirements, specifically:
(i) the Anti-Money Laundering and Counter-Terrorism Financing Act 2006,
(ii) the Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No. 1),
(iii) the Privacy Act 1988,
(iv) the National Measurement Act 1960,
(v) the National Trade Measurement Regulations 2009, and
(vi) any other associated Commonwealth laws and regulations or instruments;
(b) events that led to the Australian Transaction Reports and Analysis Centre ordering the appointment of an external auditor to Gold Corporation under subsection 162(2) of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006;
(c) events that led to the London Bullion Market Association initiating an ‘Incident Review Process’;
(d) matters concerning the corporate and statutory governance of Gold Corporation;
(e) the extent to which Australia’s reputation as a precious metals producer, refiner and exporter may have been damaged by Gold Corporation’s failure to comply with all necessary corporate and regulatory requirements; and
(f) any other related matters.

The reporting date is 21 June 2024.

The resolution establishing the Committee is available in the Journals of the Senate No. 56 – 22 June 2023.