Australasian Centre for Corporate Responsibility v Commonwealth Bank of Australia [2016] FCAFC 80

FEDERAL COURT OF AUSTRALIA

Australasian Centre for Corporate Responsibility v Commonwealth Bank of Australia [2016] FCAFC 80 Appeal from: Australasian Centre for Corporate Responsibility v Commonwealth Bank of Australia [2015] FCA 785

File number: VID 442 of 2015

Judges: ALLSOP CJ, FOSTER AND GLEESON JJ

Date of judgment: 10 June 2016

Catchwords: CORPORATIONS – power of shareholders in general meeting to pass resolutions about the management of the company – distinction between an act of the company and the interests of shareholders in the management of the company – appeal dismissed

Legislation: Company Law Review Bill 1997 (Cth) Corporations Act 2001 (Cth) ss 124, 135, 136, 198A, 203D, 249N, 249O, 249P, 250N, 250R, 250S Federal Court of Australia Act 1976 (Cth) s 43

Cases cited: Auer v Dressel 306 NY 427; 118 N.E.2d 590 (1954) Australasian Centre for Corporate Responsibility v Commonwealth Bank of Australia [2015] FCA 785 Automatic Self-Cleansing Filter Syndicate Co Ltd v Cuninghame [1906] 2 Ch 34 Aveo Group Limited v State Street Australia Ltd in its capacity as custodian for the Retail Employees Superannuation Pty Limited as trustee of the Retail Employees Superannuation Trust [2015] FCA 1019 Clifton v Mount Morgan Limited (1940) 40 SR (NSW) 31 Coco v The Queen [1994] HCA 15; 179 CLR 427 Commissioner of Taxation (Cth) v Commonwealth Aluminium Corporation Ltd [1980] HCA 28; 143 CLR 646 Electricity Generation Corporation v Woodside Energy Ltd [2014] HCA 7; 251 CLR 640 ENT Pty Ltd v Sunraysia [2007] NSWSC 270; 61 ACSR 626 Ex parte Bond; Re Junee District Hospital (1940) 40 SR (NSW) 420 Harben v Phillips (1883) 23 Ch D 14 Howard Smith Ltd v Ampol Petroleum Ltd [1974] 1 NSWLR 68; AC 821 Isle of Wight Railway Co v Tahourdin (1883) 25 Ch D 320 Lion Nathan Australia Pty Ltd v Coopers Brewery Ltd [2006] FCAFC 144; 156 FCR 1 Minister for Planning v Walker (No 2) [2008] NSWCA 334 National Roads & Motorists' Association v Parker (1986) 6 NSWLR 517 Northern Inland Council for the Environment Inc v Minister for the Environment [2014] FCA 216 Oshlack v Richmond River Council [1998] HCA 11; 193 CLR 72 Plaintiff B9/2014 v Minister for Immigration and Border Protection (No 2) [2015] FCAFC 27 PNC Telecom Plc v Thomas [2002] EWHC 2848 (Ch); [2003] B.C.C. 202 Potter v Minahan [1908] HCA 63; 7 CLR 277 Qantas Airways Limited v Cameron (No 3) [1996] FCA 765; 68 FCR 387 Qantas Airways Ltd v Lustig (No 2) [2015] FCA 782 Queensland Press Ltd v Academy Investments No 3 Pty Ltd (1987) 11 ACLR 419; [1988] 2 Qd R 575 Re Winlyn Developments Pty Ltd [2011] NSWSC 1218; 86 ACSR 197 Rose v McGivern [1998] 2 BCLC 593 Ruddock v Vadarlis (No 2) [2001] FCA 1865; 115 FCR 229 Stanham v The National Trust of Australia (New South Wales) (1989) 15 ACLR 87 Sumiseki Materials Co Ltd v Wambo Coal Pty Ltd [2013] NSWSC 235 Thompson v Australian Capital Television Pty Ltd [1994] FCA 1042; 54 FCR 513 Turner v Berner [1978] 1 NSWLR 66 Wambo Coal Pty Ltd v Sumiseki Materials Co Ltd [2014] NSWCA 326; 88 NSWLR 689 Windsor v National Mutual Life Association of Australasia Limited [1992] FCA 139; 34 FCR 580 Winthrop Investments Ltd v Winns Ltd [1975] 2 NSWLR 666 Aickin K, "Division of Power Between Directors and General Meeting as a Matter of Fact and Policy" (1967) 5 MULR 448 Brown SR, Company Resolutions: Precedents For Use in Drafting Resolutions at Meetings of Members and Directors (4th ed, Lawbook, 1982) Cordes M, Pugh-Smith, J, Caulfield, G, Burton, J and Waghorn, R Shackleton on the Law and Practice of Meetings (13th ed, Sweet & Maxwell, 2014) Cowell J, The Interpreter: or Booke Containing the Signification of Words (Lawbook Exchange, 2002 (1607)) Renton NE, Guide for Meetings and Organisations (8th ed, Thomson Reuters, 2005) Lang AD, Horsley's Meetings: Procedure, Law and Practice (7th ed, LexisNexis, 2015) Morse G, Charlesworth's Company Law (17th ed, Thomson Sweet & Maxwell, 2005)