Jarrett [1999] FCA 503

Jarrett [1999] FCA 503

Leave is granted as Mr Jarrett has demonstrated insight into his past conduct, provided significant assistance to authorities, received testimonial support, posed little risk to the company or public, the company structure is limited, and conditions of the Australian Securities and Investments Commission will mitigate risk.

Parties
Applicant: Kenneth Charles Jarrett
Jurisdiction
Australia
Judgment Date
21 April 1999
Procedural Posture
Application for Leave Under Corporations Law S 229 / Ex Tempore Judgment on Application
Outcome
Leave granted subject to conditions
Legal Topics
Directors' Duties, Leave to Act as Director or Manager, Disqualification Provisions
Corporations Law Directors' Duties Leave to Act as Director or Manager Disqualification Provisions

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Parties

Kenneth Charles Jarrett

Applicant

Procedural Posture

Application for Leave Under Corporations Law S 229 / Ex Tempore Judgment on Application

Legal Issues

  1. 1 Whether Kenneth Charles Jarrett should be granted leave under s 229 of the Corporations Law to act as manager and director of Allans Music Group Pty Ltd

Ratio Decidendi

Leave is granted as Mr Jarrett has demonstrated insight into his past conduct, provided significant assistance to authorities, received testimonial support, posed little risk to the company or public, the company structure is limited, and conditions of the Australian Securities and Investments Commission will mitigate risk.

Court Disposition

Leave granted subject to conditions

Orders

  • Leave is given pursuant to s 229 of the Corporations Law to Kenneth Charles Jarrett to act as manager and director of Allans Music Group Pty Ltd ACN 082 019 341, restricted to that company.
  • Within seven days of the order, a registered auditor under Part 9.2 of the Corporations Law must be appointed for Allans Music Group Pty Ltd ACN 082 019 341.