Australian Securities Commission v Avram [1996] FCA 1009

Australian Securities Commission v Avram [1996] FCA 1009

A notice under s.19(3) of the Australian Securities Commission Act 1989 that refers to the management of affairs of specific companies and a breach of a precise legislative provision (here, s.229(3) of the Corporations Law) provides a sufficiently clear statement of the general nature of the matter for the purposes of validity, and there is no requirement to specify the conduct in further detail nor to name alleged contravenors.

Jurisdiction
Australia
Judgment Date
21 November 1996
Procedural Posture
Application / Judgment Following Contested Application
Outcome
Application allowed with costs
Legal Topics
['statutory Notice Requirements' 'investigatory Powers' 'examination Procedures']
['corporations Law' 'administrative Law'] ['statutory Notice Requirements' 'investigatory Powers' 'examination Procedures']

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Procedural Posture

Application / Judgment Following Contested Application

Legal Issues

  1. 1 ["Whether notice under s.19 of the Australian Securities Commission Act 1989 stated the 'general nature of the matter' under investigation" 'Whether the notice must identify the conduct or identity of persons under investigation' 'Sufficiency of reference to alleged contravention in notice']

Ratio Decidendi

A notice under s.19(3) of the Australian Securities Commission Act 1989 that refers to the management of affairs of specific companies and a breach of a precise legislative provision (here, s.229(3) of the Corporations Law) provides a sufficiently clear statement of the general nature of the matter for the purposes of validity, and there is no requirement to specify the conduct in further detail nor to name alleged contravenors.

Court Disposition

Application allowed with costs

Orders

  • ['The respondent shall appear, on a date and at a time to be fixed, for examination on oath or affirmation and to answer questions put, and to give the applicant all reasonable assistance in accordance with the requirements of the notice dated 19 June 1996.' 'Application allowed with costs.']