ASIC issues $4m worth of infringement notices to 21 Visy and Pratt group companies

The Australian Securities and Investments Commission (ASIC) has issued 21 companies within the Visy and Pratt group infringement notices of $198,000 each on 14 October for failing to lodge their financial reports on time for the financial year ending 30 June 2025.

Among the companies missing their lodgement deadline was prominent Australian packaging, recycling, and logistics company Visy Industries, which was also charged $198,000 for failing to lodge by 31 October 2025.

Each of the 21 companies was given a payment period of 28 days from when they received the infringement notice (14 October 2026).

"ASIC can confirm that all 21 companies have paid the infringement notices issued to them within the 28-day timeframe," an ASIC spokesperson said.

The 21 companies comprised large proprietary companies and public companies, which are both required to lodge their annual reports within four months from the financial year end.

“Visy has worked cooperatively with ASIC through this process, noting that all financial reports had been lodged before ASIC commenced its investigation,” a Visy spokesman said.

“Visy has taken remedial steps to ensure the lodgement of financial reports meet the compliance deadlines going forward.”

The infringement letter noted that when companies pay their infringement notices, their payments are not an admission of guilt or liability, and the companies are not regarded as having been convicted of an alleged offence.

“Financial reporting deadlines matter. Companies that are required to lodge financial reports must do so on time,” ASIC commissioner Kate O’Rourke said.

“This action sends a clear message to reporting entities, including public and large proprietary companies, that ASIC is actively enforcing the financial reporting requirements,” O’Rourke said.

“Ensuring reporting entities meet their financial reporting obligations is an ASIC enforcement priority. We will continue to identify and investigate such entities that fail to lodge, or are late in lodging, their financial reports.”

Companies that receive an infringement notice are able to apply for withdrawal of the infringement notice within the 28-day payment period from when the infringement notice was issued.

“If the [infringement] notice is withdrawn, the Company may be prosecuted in a court for the alleged Contravention,” the letter said.

“The Company may choose not to pay the amount specified in this notice. If the Company does not pay the specified amount within the timeframe, the Company may be prosecuted in a court for the alleged contravention.”

The 21 companies are:

• Battery Group Limited

• Build Run Repair (Australia) Pty Ltd

• OVS Investment Corporation Limited

• Pratt Consolidated Holdings Pty. Ltd.

• Pratt Finance Proprietary Limited

• Pratt Holdings Proprietary Limited

• Visy Board Proprietary Limited

• Visy Board (Wodonga) Pty. Ltd.

• Visy Glass (Australasia) Pty Ltd

• Visy Industries Australia Pty Ltd

• Visy Industries Holdings Pty Ltd

• Visy Kraft Holdings Pty. Ltd.

• Visy Logistics Pty Ltd

• Visy Packaging Holdings Pty. Ltd.

• Visy Packaging Properties Pty. Ltd.

• Visy Packaging Pty. Ltd.

• Visy Pulp and Paper Pty. Ltd.

• Visy Recycling Australia Pty Ltd

• Visy Retail Services Pty Ltd

• Visypak Operations Pty. Ltd.

• Visypet Pty. Ltd.

"This action does not represent a change in ASIC’s position that companies with financial reporting obligations must comply with their statutory lodgement deadlines. Rather, ASIC has increased its focus on compliance with these obligations, commencing targeted, data-driven surveillance of late and non-lodgement of financial reports in August 2025," the ASIC spokesperson said.

"While ASIC’s intervention has resulted in a substantial number of outstanding reports being lodged, the level of non-compliance identified remains a concern and supports ASIC’s continuing focus on improving compliance with financial reporting obligations," the spokesperson added.