Operation Credo report to be furnished 3 August 2017

Wednesday 2 August 2017

The NSW Independent Commission Against Corruption (ICAC) will furnish its investigation report into Operation Credo to the President of the Legislative Council and the Speaker of the Legislative Assembly on Thursday 3 August 2017 at 8.30 am.

If the Presiding Officers make the report public, it will be made available for download from the ICAC website at www.icac.nsw.gov.au.

Operation Credo concerned allegations that persons with an interest in Australian Water Holdings Pty Ltd (AWH) obtained a financial benefit through adversely affecting the official functions of Sydney Water Corporation (SWC) by: including expenses incurred in other business pursuits in claims made on SWC for work on the North West Growth Centre; drawing from funds allocated for other purposes; and preventing SWC from ascertaining the true financial position, including the level of the executives’ remuneration.

The investigation also examined whether public officials and others were involved in the preparation and submission of a cabinet minute relating to a public private partnership proposal made by AWH, intended to mislead the NSW Government Budget Cabinet Committee and obtain a benefit for AWH, and other related matters.

The Commission has noted that preparation of the report in Operation Credo has been affected by litigation, legislative changes and the need to ensure that those involved are afforded procedural fairness.

The report will address these issues. At this stage, the Commission will be making no further comment.

Media contact: ICAC Manager Communications & Media, Nicole Thomas, 02 8281 5799 / 0417 467 801