Melbourne IT – The Story Continues
9 June 2000
The National Tertiary Education Union, which represents staff in Australian universities, has written to the Victorian Minister for Post-compulsory Education, Lyn Kosky, requesting a meeting to discuss future regulatory arrangements for the float of university assets.
The request comes in the wake of a critical report from the Victorian Auditor-General on the float of Melbourne IT by the University of Melbourne.
`Our priorities are firstly, that there be clear and unambiguous guidelines which govern the float of university assets,’ said NTEU General Secretary Grahame McCulloch. `Secondly, we think it important that the role and responsibilities of members of the University’s governing bodies and committees in this regard be clearly delineated, especially given the apparent conflicts of interest which occurred in relation to Melbourne IT.’
`We will also continue to press for ASIC to undertake an investigation of the share allocation process, to conclude the job begun by the Auditor-General,’ he continued. `Universities must be accountable for the commercialisation of such assets, and the community should have confidence that any future float will be conducted in the best interest of the public institution.’
Meanwhile, the University of Melbourne NTEU Branch will distribute a bulletin regarding the float to all staff at the University of Melbourne next week. Branch President Robert Evans said that it was important that staff were well-informed, so that they could participate effectively in decisions about the future of their institution.