National Exchange Pty Ltd (ACN 006 079 974) v Australian Securities & Investments Commission [2004] FCAFC 90

FEDERAL COURT OF AUSTRALIA

National Exchange Pty Ltd (ACN 006 079 974) v Australian Securities & Investments Commission [2004] FCAFC 90

CORPORATIONS – misleading and deceptive offer document – adequacy of correction to misleading primary statement Corporations Act 2001 (Cth) s 1041H Trade Practices Act 1974 (Cth) s 52 10th Cantanae Pty Ltd v Shoshana Pty Ltd (1987) 79 ALR 299 considered ACCC v Signature Security Group Pty Ltd (2003) ATPR 41-908 referred to Branir v Owston Nominees (No 2) Pty Ltd (2001) 117 FCR 424 referred to Campomar Sociedad Limitada v Nike International Ltd (2000) 202 CLR 45 applied Curtis v Chemical Cleaning & Dyeing Co [1951] 1 KB 805 referred to Hornsby Building Information Centre Pty Ltd v Sydney Building Information Centre Ltd (1978) 140 CLR 216 referred to J Spurling Ltd v Bradshaw [1956] 1 WLR 461 referred to Lego Australia Pty Ltd v Paul's (Merchants) Pty Ltd (1982) 60 FLR 465 considered Medical Benefits Fund of Australia v Cassidy [2003] FCAFC 289 applied Parkdale Custom Built Furniture Pty Ltd v Puxu Pty Ltd (1982) 149 CLR 191 referred to S & I Publishing Pty Ltd v Australian Surf Life Saver Pty Ltd(1998) 88 FCR 354 cited Slazenger & Sons v Feltham & Co(1889) 6 RPC 531 cited Taco Company of Australia Inc v Taco Bell Pty Ltd (1982) 42 ALR 177 considered J D Heydon, Trade Practices Law, Law Book Company, Sydney, 1989 NATIONAL EXCHANGE PTY LTD (ACN 006 079 974) AND DAVID TWEED v AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION V 915 OF 2003 DOWSETT, JACOBSON AND BENNETT JJ 22 APRIL 2004 SYDNEY (VIA VIDEO LINK) (HEARD IN MELBOURNE)

IN THE FEDERAL COURT OF AUSTRALIA

VICTORIA DISTRICT REGISTRY V 915 OF 2003

ON APPEAL FROM A SINGLE JUDGE OF THE FEDERAL COURT OF AUSTRALIA

BETWEEN: NATIONAL EXCHANGE PTY LTD (ACN 006 079 974)

FIRST APPELLANT