There were potential breaches of commonwealth law and a range of penalties could apply, she said.
The casualness, even levity with which many young people approach nude selfies is at odds with the potential consequences under commonwealth law, which says it is illegal to use mobile phones to create, transmit or possess material defined as "child pornography material" or "child abuse material".
But the investors warned that the potential raised offer was subject to CommonWealth beginning negotiations within 48 hours.
In the 1970s there was the potential for schism between the "old Commonwealth" of white, wealthy nations and the new nations, dominated by black African leaders shrugging off the colonial past.
British politicians are likely to oblige, but other Commonwealth countries may also have to be consulted.The other potential problem is the Church of England.
"This law, like other state laws enacted across the U.S., has the potential to suppress thousands of votes in the Commonwealth during this election," Ben Jealous, the NAACP's president, said in a statement.
It has also discovered the commonwealth government lost $5.4bn in potential tax revenue in 2013 and 2014 from those same companies, as they shifted billions of dollars in profits offshore.
Limato, Tiggy Wiggy, Hootenanny and Anthem Alexander had all been touted as potential champion sprinters going into the inaugural Commonwealth Cup, but all were put firmly in their place by Muhaarar, who instead emerged as the three-year-old most likely to challenge the older generation for top honours in the second half of the season.
"This incident constitutes a potential breach of operational security and potentially the commission of a criminal offence under the commonwealth Crimes Act," an officer from the defence security authority wrote.
"I have long maintained that Virginia should be prudent in considering the potential lifting of the uranium mining moratorium in the commonwealth," he said.
