Australian Securities and Investments Commission, in the matter of Whitebox Trading Pty Ltd v Whitebox Trading Pty Ltd [2017] FCAFC 100

Australian Securities and Investments Commission, in the matter of Whitebox Trading Pty Ltd v Whitebox Trading Pty Ltd [2017] FCAFC 100

Chapter 2 of the Criminal Code does not apply to civil penalty proceedings brought under s 1041A or s 1041B of the Corporations Act 2001 (Cth). The offence is created by the operation of s 1311(1), not the norm provision itself, and the legislative structure maintains separate streams for criminal and civil...

Source-derived case information.

Jurisdiction
Australia
Judgment Date
21 June 2017
Procedural Posture
Civil Penalty Proceedings / Determination of a Separate Question Pre Trial
Outcome
Question answered in the negative. No order as to costs.
Legal Topics
['civil Penalties' 'market Manipulation' 'false Trading' 'market Rigging' 'application of Criminal Code to Civil Proceedings']
['corporations Law'] ['civil Penalties' 'market Manipulation' 'false Trading' 'market Rigging' 'application of Criminal Code to Civil Proceedings']

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Procedural Posture

Civil Penalty Proceedings / Determination of a Separate Question Pre Trial

Legal Issues

  1. 1 ['Whether Chapter 2 of the Criminal Code applies to civil penalty proceedings for contraventions of s 1041A or s 1041B of the Corporations Act 2001 (Cth)']

Ratio Decidendi

Chapter 2 of the Criminal Code does not apply to civil penalty proceedings brought under s 1041A or s 1041B of the Corporations Act 2001 (Cth). The offence is created by the operation of s 1311(1), not the norm provision itself, and the legislative structure maintains separate streams for criminal and civil liability. Thus, criminal fault elements from the Criminal Code do not apply in civil penalty proceedings.

Court Disposition

Question answered in the negative. No order as to costs.

Orders

  • ['The question for the separate hearing is as set out in order 1.' "The question is answered 'no'." 'No order as to costs.']