Ann: Net Tangible Asset Backing, page-47

From Pg 36 of the original prospectus:- Removal of Proposed Manager.
.... fails to ensure the investments made on behalf of the company are consistent with the investment process applicable at the time the investment is made.
My emphasis. The company doesn't have to confirm with the process applicable when the company floated. In a way this makes sense as the company should not be tied down to a process that is no longer applicable. On the flip side, it also doesn't prevent changes to process that in hindsight weren't such a great idea.

timbowls; I'm afraid I don't share your faith in accountability of other businesses. eg. BHP execs destroyed $billions in top of the cycle purchasers. I don't recall them being overly accountable for that. Or previous CBA chair and CEO returning any of their huge bonuses they received while destroying the bank's reputation.