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Asked how it could be said that the KPMG report was subject to privilege, Martin said the review needed to cover compliance with the Anti-Money Laundering and Counter-Terrorism Financing Act.
She said her view at the time was that legal advice on that point was “at least a key purpose of the review”. She said the legal advice could have been provided by advisers other than KPMG.
“While it may be a key purpose to provide some legal advice it was not the dominant purpose, to your understanding, was it?” Sharp asked.
“I think … that was the view I had formed at that time,” Martin replied. She said she accepted now that her view at the time was wrong.
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Sharp asked whether she asserted in minutes of an audit committee meeting in May 2018 that the KPMG report was privileged “so as to shield this report and this set of minutes from production to NSW Liquor and Gaming, the Independent Liquor and Gaming Authority or AUSTRAC”.
“No, I don’t believe so,” Martin replied.
Asked if she understood legal professional privilege might be a basis for Star Entertainment withholding the document from the market under continuous disclosure laws, Martin said she was not sure she “specifically turned my mind to that point”.
The inquiry has previously heard that Matt Bekier, Star Entertainment’s former chief executive, reacted angrily to the report, including at a meeting with KPMG representatives.
Asked if Bekier was “not happy” with the report, Martin said: “I think I would describe Mr Bekier’s view of the report, based on my interactions with him, as one of concern.”
She described the meeting with KPMG representatives as “somewhat tense” but did not accept he was rude or aggressive, saying, “I’m just not sure I recall paying that much attention to his conduct as distinct from the meeting more broadly.”
Asked if she was doing her best to assist the inquiry, Martin said: “I believe I am.”
The inquiry continues.
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