Australian Securities and Investments Commission v Mercorella [2006] FCA 297

The documents summoned are relevant to examinable affairs under s 597(9) of the Corporations Act, encompassing wide legitimate purposes including investigation of scheme transactions and potential recovery actions; pre-emptive inspection or confidentiality regime is not warranted, as such matters can be addressed during examination.

Parties: Applicant: Australian Securities and Investments Commission; First Respondent: Guiseppe Antonio Mercorella; Second Respondent: Seabay Investments Pty Ltd ACN 097 021 773
Jurisdiction: Australia
Judgment Date: 22 March 2006
Procedural Posture: Application / Review of Registrar's Orders
Outcome: application refused
Legal Topics: Production of Documents, Examinable Affairs, Public Examination, Confidentiality Regime

Corporations Law Production of Documents Examinable Affairs Public Examination Confidentiality Regime

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Parties

Australian Securities and Investments Commission

Applicant

Guiseppe Antonio Mercorella

First Respondent

Seabay Investments Pty Ltd ACN 097 021 773

Second Respondent

Procedural Posture

Application / Review of Registrar's Orders

Legal Issues

1 Whether the summons for production of documents was validly issued under s 597(9) of the Corporations Act
2 Whether limitations or confidentiality regimes should be imposed on the production and examination of documents

Ratio Decidendi

Court Disposition

application refused

Orders

The application of Anthony Sobey dated 17 March 2006 to set aside the summons for the production of documents is refused.
Anthony Sobey to pay Colin Nicol his costs of and incidental to the application.