Australian Electoral Commission notice of 17 September 2020:
This political party appears to be on the chopping block because it now has less than 500 members.
In recent years Clive Frederick Palmer appears to have exclusively funded this political party through his companies Mineralology Pty Ltd and Palmer Coolum Resort Pty Ltd.
It currently has debts of $8,829,343 of which $8,208,389 is owed to Google Australia Pty Ltd and another $609,039 to IPG Marketing Solutions.
According to an Australian Securities and Investments Commission media release billionaire Clive Palmer is due back in court on 27 November 2020 in relation to; two counts of contravening section 184(2)(a) of the Corporations Act 2001 (Act) - dishonest use of position as a director and two counts of contravening section 408C(1)(d) of the Criminal Code Act 1899 (Qld) – fraud by dishonestly gaining a benefit or advantage in that he allegedly dishonestly obtained a benefit or advantage for Cosmo Developments Pty Ltd and/or the Palmer United Party (PUP) and others by authorising the transfer of $10,000,000 contrary to the purpose for which the funds were being held. It is alleged that he dishonestly used his position as a director of Mineralogy Pty Ltd (Mineralogy), a mining company owned by him, in obtaining that advantage.
