Revesby Workers’ Club Limited, in the matter of Revesby Workers’ Club Limited [2008] FCA 1999

Revesby Workers’ Club Limited, in the matter of Revesby Workers’ Club Limited [2008] FCA 1999

Because the compliance deadline for ss 315 and 319 expired on 31 October 2008, the Company was not then able to comply, ASIC did not oppose a short extension, and the Court was satisfied that no substantial injustice would be caused by a short extension, the Court extended the time for compliance on an interim basis to 7 November 2008 or such later date as the Court may determine.

Jurisdiction
Australia
Judgment Date
31 October 2008
Procedural Posture
Application Under S 1322 of the Corporations Act 2001 (cth) for Extension of Time to Comply With Reporting and Lodgement Obligations / Interim Orders and Adjournment for Further Hearing
Outcome
Short interim extension granted and proceeding adjourned for further hearing.
Legal Topics
['extension of Time' 'company Reporting to Members' 'lodgement of Financial Reports' 'auditor Resignation and Removal' 'no Substantial Injustice']
['corporations Law'] ['extension of Time' 'company Reporting to Members' 'lodgement of Financial Reports' 'auditor Resignation and Removal' 'no Substantial Injustice']

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Procedural Posture

Application Under S 1322 of the Corporations Act 2001 (cth) for Extension of Time to Comply With Reporting and Lodgement Obligations / Interim Orders and Adjournment for Further Hearing

Legal Issues

  1. 1 ["Whether the Court should extend the period within which Revesby Workers' Club Limited must comply with ss 315(1), 319(1) and 319(3) of the Corporations Act 2001 (Cth)." 'Whether a short interim extension under s 1322(4)(d) should be granted pending an opportunity for the Australian Securities and Investments Commission to be heard.' 'Whether no substantial injustice has been or is likely to be caused to any person for the purposes of s 1322(6).']

Ratio Decidendi

Because the compliance deadline for ss 315 and 319 expired on 31 October 2008, the Company was not then able to comply, ASIC did not oppose a short extension, and the Court was satisfied that no substantial injustice would be caused by a short extension, the Court extended the time for compliance on an interim basis to 7 November 2008 or such later date as the Court may determine.

Court Disposition

Short interim extension granted and proceeding adjourned for further hearing.

Orders

  • ["Pursuant to s 1322(4)(d) of the Corporations Act 2001 (Cth), the period within which the plaintiff, Revesby Workers' Club Limited, must comply with ss 315(1), 319(1) and 319(3) be extended to the period that terminates on 7 November 2008 or such later date as the Court may determine." 'The proceeding be adjourned...