Macarthurcook Fund Management Ltd [2010] NSWSC 1117

Macarthurcook Fund Management Ltd [2010] NSWSC 1117

The minor and uncontroversial discrepancies identified between the deed provided to members and that initialled by the chair are merely procedural and do not constitute a procedural irregularity warranting invalidation under s 1322(2) of the Corporations Act, as they have not caused, and could not cause, any substantial injustice.

Jurisdiction
Australia
Judgment Date
28 September 2010
Procedural Posture
Judicial Advice Application (corporations Managed Investment Scheme) / Renewed Application for Judicial Advice Following Special Resolution Meeting
Outcome
Judicial advice given as sought; irregularity not substantial; proceeding valid.
Legal Topics
['managed Investment Schemes' 'alteration of Constitution' 'special Resolution' 'procedural Irregularity']
['corporations Law' 'equity'] ['managed Investment Schemes' 'alteration of Constitution' 'special Resolution' 'procedural Irregularity']

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Procedural Posture

Judicial Advice Application (corporations Managed Investment Scheme) / Renewed Application for Judicial Advice Following Special Resolution Meeting

Legal Issues

  1. 1 ['Whether minor discrepancies between the form of the deed provided with the notice of meeting and the deed initialled by the chair amount to a procedural irregularity invalidating the meeting/resolution under the Corporations Act 2001 (Cth) s 1322(2)' 'Whether such discrepancies may amount to a lack of correspondence as addressed in relevant case law']

Ratio Decidendi

The minor and uncontroversial discrepancies identified between the deed provided to members and that initialled by the chair are merely procedural and do not constitute a procedural irregularity warranting invalidation under s 1322(2) of the Corporations Act, as they have not caused, and could not cause, any substantial injustice.

Court Disposition

Judicial advice given as sought; irregularity not substantial; proceeding valid.

Orders

  • ['Judicial advice given']