Ron Brierley is to be stripped of his knighthood.
He has written to the Clerk of the Executive Council to resign as a Knight Bachelor and the Queen has been informed.
The Prime Minister started the process of removing his knighthood on April 1, after he pleaded guilty to possession of child sexual abuse material at a Sydney court hearing.
Brierley can no longer be called 'Sir' and his insignia has been requested back.
He was written to on April 6 and given 30 days to give the Prime Minister any information before she made a decision to strip his knighthood.
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Brierley rose to prominence in the 1980s and 1990s in the business world, and in 2019 was estimated by the NBR to have a net worth of around $220 million.
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