Revesby Workers’ Club Limited, in the matter of Revesby Workers’ Club Limited (No 2) [2008] FCA 2000

Revesby Workers’ Club Limited, in the matter of Revesby Workers’ Club Limited (No 2) [2008] FCA 2000

The Company could not practicably comply with its reporting and lodgement obligations because the identity of the auditors and completion of the audit report depended on the outcome of the 30 November 2008 annual general meeting. A member had given notice on 24 October 2008 of intention to move a resolution to remove the auditors, ASIC did not wish to be heard, and the Court was satisfied that abridging the notice period and extending the reporting and lodgement deadlines would not cause substantial injustice to any person.

Jurisdiction
Australia
Judgment Date
07 November 2008
Procedural Posture
Corporations Application / Further Hearing for Extension of Time and Abridgement of Time
Outcome
Application granted; time extended and abridged, with the proceeding adjourned for mention.
Legal Topics
['annual Reporting to Members' 'lodgement of Annual Report With Asic' 'removal of Auditors' 'abridgement of Notice Period' 'extension of Time']
['corporations Law'] ['annual Reporting to Members' 'lodgement of Annual Report With Asic' 'removal of Auditors' 'abridgement of Notice Period' 'extension of Time']

Case Brief

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Procedural Posture

Corporations Application / Further Hearing for Extension of Time and Abridgement of Time

Legal Issues

  1. 1 ['Whether the time for the Company to lodge its annual report with the Australian Securities and Investments Commission and report to its members should be extended to 31 January 2009.' "Whether the time for giving notice of intention to move a resolution for removal of the Company's auditors at the annual general meeting on 30 November 2008 should be abridged to 24 October 2008."]

Ratio Decidendi

The Company could not practicably comply with its reporting and lodgement obligations because the identity of the auditors and completion of the audit report depended on the outcome of the 30 November 2008 annual general meeting. A member had given notice on 24 October 2008 of intention to move a resolution to remove the auditors, ASIC did not wish to be heard, and the Court was satisfied that abridging the notice period and extending the reporting and lodgement deadlines would not cause substantial injustice to any person.

Court Disposition

Application granted; time extended and abridged, with the proceeding adjourned for mention.

Orders

  • ['That the time for the Plaintiff to lodge its annual report with the Australian Securities and Investments Commission be extended to 31 January 2009.' 'That the time for the Plaintiff to report to its members be extended to 31 January 2009.' "That the time for the giving of notice of intention to move a resolution...