Beadell Resources Limited, in the matter of Beadell Resources Limited [2013] FCA 13

Beadell Resources Limited, in the matter of Beadell Resources Limited [2013] FCA 13

For the same reasons as expressed in Sprint Energy Limited, the inadvertent failure and prompt action warranted curative orders under s 1322(4) of the Corporations Act 2001 (Cth) extending the period for the lodgment of cleansing notices.

Jurisdiction
Australia
Judgment Date
15 January 2013
Procedural Posture
Corporations Curative Application / Judgment After Uncontested Application
Outcome
Application granted; curative orders made extending time to lodge cleansing notices and ancillary orders regarding confidentiality and liberty to apply.
Legal Topics
['extension of Time for Cleansing Notice' 'remediation of Inadvertent Non Compliance' 'issuing of Shares']
['corporations Law'] ['extension of Time for Cleansing Notice' 'remediation of Inadvertent Non Compliance' 'issuing of Shares']

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 1 Authorities cited 2 Party arguments 2 Amounts and remedies 1
Sign in to unlock

Procedural Posture

Corporations Curative Application / Judgment After Uncontested Application

Legal Issues

  1. 1 ['Whether the court should grant an extension of time under section 1322(4) of the Corporations Act 2001 (Cth) for the issuing of cleansing notices under s 708A(5)(e) in respect of two share issues']

Ratio Decidendi

For the same reasons as expressed in Sprint Energy Limited, the inadvertent failure and prompt action warranted curative orders under s 1322(4) of the Corporations Act 2001 (Cth) extending the period for the lodgment of cleansing notices.

Court Disposition

Application granted; curative orders made extending time to lodge cleansing notices and ancillary orders regarding confidentiality and liberty to apply.

Orders

  • ['Extension of time for lodging cleansing notice for 5,000,000 shares issued to MCGL on 29 August 2012 to the second business day after entry of the orders.' 'Extension of time for lodging cleansing notice for 5,000,000 shares issued to MBL on 19 October 2012 to the second business day after entry of the orders.'...