Meanwhile,Town and Country Insurance Brokers of Dubbo has withdrawn its appeal against its suspension by ASIC. The company appealed to the Administrative Appeals Tribunal last August after ASIC cancelled its registration for failing to produce satiusfactory audited accounts for the 1889 and 1999 financial years.

However, Town and Country has now decided to operate under the licence of another broker, which ASIC identified as “Insurance Australia Brokering”. The two-year disqualification of Town and Country’s licence remains in place until August 18 next year.