years. That settlement took the form of an "agreed statement of facts" jointly presented to the Federal Court by Vizard's and ASIC's lawyers, and Vizard agreeing the court should impose penalties for a breach of his duties as a director. In his judgement handed down on 28 July 2005, Justice Raymond Finkelstein accepted that Vizard had breached Sections 183 and 232 of the Corporations Act 2001 (C'lth) through his activities. ASIC proposed a $130,000 fine per offence and 5 years disqualification. Justice Finkelstein disregarded the agreement reached between ASIC and Vizard and instead ordered a disqualification of 10 years. The head of ASIC, Jeff Lucy, conceded that there was never a criminal case, or any case involving dishonesty, against Vizard and that the media outrage was largely caused by ASIC's failure to properly communicate the full facts to the media. Philanthropic activities In 1991, Vizard and his family founded the Vizard Foundation, which established Vizard House, a refuge for people in need. Since its establishment in 1991, Vizard House has provided over 100,000-room nights free accommodation for needy people visiting inner Melbourne hospitals. From 1992 to 2002, the Foundation worked with The Ian Potter Museum of Art, University of Melbourne to support Australian artists. The collection of Australian art is permanently housed at the University of Melbourne. On 27 April 1994, the Vizard Foundation purchased 45 antiquities from an auction held by Christie's of London. These items are on permanent loan to the Ian Potter Museum of Art at the University of Melbourne. In 1991, Vizard purchased from Lord Alistair McAlpine the iconic Australian painting First Class Marksman by Sidney Nolan, the only painting of the original 1945 Ned Kelly Series not owned and on public display in the National Gallery of Australia. Vizard donated the painting to the Vizard Foundation and the painting was on public display in the National Gallery of Victoria. In 2010, the Vizard Foundation sold the work for an Australian record of $5.4 million and committed the proceeds for charitable purposes, including indigenous scholarships. In 1997, Vizard was a founding trustee with Walter Mikac of the Alannah and Madeleine Foundation, to assist in education against violence to children. In 1997, he was made a Member of the Order of Australia, for service to the community, particularly through the Vizard Foundation, and to the arts. In 2008, three years after settling the civil legal proceedings with