30 Dec 2009
CHAU CHIN HUNG, EDMOND AND OTHERS v. MARKET MISCONDUCT TRIBUNAL AND OTHERS
- Citation
- CHAU CHIN HUNG, EDMOND AND OTHERS v. MARKET MISCONDUCT TRIBUNAL AND OTHERS
- Court
- Court of Appeal
- Case number
- CACV62/2009
Section 257(1)(c) authorises the Market Misconduct Tribunal to make perpetual cease and desist orders specifying any form of market misconduct (whether or not that misconduct was specified in the initiating notice or previously the subject of a finding); the word "again" only acknowledges past misconduct and does not limit the tribunal to prohibiting only the types alleged in the notice; subsection 257(5) permits orders irrespective of likelihood of future misconduct; the Tribunal's finding of price rigging based on recklessness was open on the evidence and the appeals must be dismissed.