Adams v Australian Securities & Investments Commission [2003] FCA 557

Adams v Australian Securities & Investments Commission [2003] FCA 557

The applicant failed to provide satisfactory evidence justifying an exception to the automatic disqualification provision; hardship or inconvenience to others and vague assertions regarding business necessity or detriment were insufficient in the absence of persuasive evidence that the legislative policy of public...

Source-derived case information.

Parties
Plaintiff: Harold John Adams; Defendant: Australian Securities and Investments Commission
Jurisdiction
Australia
Judgment Date
05 May 2003
Procedural Posture
Application Under S 206 G of Corporations Act 2001 (cth) for Leave to Manage Corporations / Judgment Following Hearing
Outcome
Application dismissed
Legal Topics
Director Disqualification, Leave to Manage Corporations After Conviction, Corporations Act 2001 (cth) S 206 G, Criteria for Granting Leave
Corporations Law Director Disqualification Leave to Manage Corporations After Conviction Corporations Act 2001 (cth) S 206 G Criteria for Granting Leave

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Parties

Harold John Adams

Plaintiff

Australian Securities and Investments Commission

Defendant

Procedural Posture

Application Under S 206 G of Corporations Act 2001 (cth) for Leave to Manage Corporations / Judgment Following Hearing

Legal Issues

  1. 1 Whether the applicant should be granted leave to manage five named corporations despite the automatic disqualification for conviction of a dishonesty offence
  2. 2 Whether the evidence sufficiently justifies an exception to the disqualification under s 206G

Ratio Decidendi

The applicant failed to provide satisfactory evidence justifying an exception to the automatic disqualification provision; hardship or inconvenience to others and vague assertions regarding business necessity or detriment were insufficient in the absence of persuasive evidence that the legislative policy of public protection would not be compromised. The evidence about the supposed necessity for Mr Adams to be a director was unsatisfactory. Only a short period of the disqualification remained, and no compelling reason was demonstrated for early termination.

Court Disposition

Application dismissed

Orders

  • The application be dismissed.