Australian Securities and Investments Commission v Saxby Bridge Financial Planning Pty Ltd [2003] FCAFC 244

FEDERAL COURT OF AUSTRALIA

Australian Securities and Investments Commission v Saxby Bridge Financial Planning Pty Ltd [2003] FCAFC 244 PRACTICE AND PROCEDURE – appeal under s 44 of the Administrative Appeals Tribunal Act 1975 (Cth) – decision of the Tribunal to set aside orders of ASIC to revoke securities dealers licenses – whether notice of appeal complies with the requirements of O 53 r 3 - stating questions of law with precision in appeal from the Tribunal ADMINISTRATIVE LAW - appeal under s 44 of the Administrative Appeals Tribunal Act 1975 (Cth) – Chapter 7 of the Corporations Law - decision of the Tribunal to set aside orders of ASIC to revoke securities dealers licenses – appeal on question of law – whether any ground to set aside decision CORPORATIONS – Chapter 7 of the Corporations Law – securities - revocation of dealers licenses under s 826(1) – proper construction of s 849 and s 851 of the Corporations Law - requirement to disclose interest of an associate – whether existence of associate relationship a question of law or fact Administrative Appeals Tribunal Act 1975 (Cth) s 44 Corporations Law ss 9, 15, 16, 94, Chapter 7 Part 7.3, Division 3 of Part 7.4 Federal Court Rules O 53 r 3 Australian Broadcasting Tribunal v Bond (1990) 170 CLR 321 applied Australian Softwood Forests Pty Limited v Attorney-General (NSW); Ex rel Corporate Affairs Commission (1981) 148 CLR 121 referred to Australian Telecommunications Corporation v Lambroglou (1990) 12 AAR 515 applied Bank of Western Australia Ltd v Ocean Trawlers Pty Limited (1995) 16 ACSR 501 applied Beckwith v R (1976) 12 ALR 333 cited Birdseye v Australian Securities and Investments Commission [2003] FCAFC 232 applied Comcare Australia v Lees (1997) 151 ALR 647 referred to Dennis Willcox Pty Ltd v Federal Commissioner of Taxation (1988) 79 ALR 267 referred to Donald v Australian Securities and Investments Commission (2000) 104 FCR 126 applied Dornan v Riordan (1990) 95 ALR 451 referred to Heine Management Ltd v Australian Securities Commission (1993) 12 ACSR 578 applied Minister for Aboriginal Affairs v Peko-Wallsend Limited (1986) 162 CLR 24 applied Minister for Immigration and Multicultural Affairs v Yusuf (2001) 206 CLR 323 referred to R v Adams (1935) 53 CLR 563 cited Re Minister for Immigration and Multicultural and Indigenous Affairs; Ex parte Palme [2003] HCA 56 referred to TNT Skypack International (Aust) Pty Ltd v Federal Commissioner of Taxation (1988) 82 ALR 175 referred to Vetter v Lake Macquarie City Council (2001) 202 CLR 439 applied AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION v SAXBY BRIDGE FINANCIAL PLANNING PTY LTD (ACN 073 888 979), ABS SECURITIES PTY LIMITED (ACN 081 560 349) and JEFFREY JOSEPH BRAYSICH N 756 of 2003 BRANSON, JACOBSON AND BENNETT JJ 5 NOVEMBER 2003 SYDNEY