Australian Securities and Investments Commission v Taylor [2023] FCAFC 189

Federal Court of Australia

Australian Securities and Investments Commission v Taylor [2023] FCAFC 189 Appeal from: XY v Companies Auditors Disciplinary Board [2022] FCA 1583

File number(s): VID 163 of 2023

Judgment of: MORTIMER CJ, O'BRYAN and ABRAHAM JJ

Date of judgment: 6 December 2023

Catchwords: CORPORATIONS – where there is a disciplinary proceeding against an auditor – where there are concurrent criminal proceedings regarding the conduct the subject of the disciplinary proceeding – where the auditor makes an application for a stay of the disciplinary proceeding – where the Companies Auditors Disciplinary Board refuses the stay – judicial review of decision not to stay by primary judge – where there is an undertaking given by auditor not to perform the duties of a registered company auditor in the interim STATUTORY INTERPRETATION – section 1292 of the Corporations Act 2001 (Cth) – whether s 1292(11) modifies or abrogates the common law rights of an accused – whether prejudice more than arises from the co-existence of criminal proceedings is required to establish that a stay should be granted Held: appeal dismissed

Legislation: Administrative Decisions (Judicial Review) Act 1977 (Cth) Australian Securities and Investments Commission Act 2001 (Cth) ss 1, 19, 21, 63, 68, 76, 79, 213, 216, 217, 218, 219 Companies Act 1981 (Cth) s 27 Companies Bill 1981 (Cth) Corporations Act 2001 (Cth) ss 1285, 1292, 1292(11), 1294, 1294A(4), 1296 Judiciary Act 1903 (Cth) Proceeds of Crime Act 2002 (Cth) ss 319, 319A Criminal Assets Recovery Act 1990 (NSW) s 63 Medical Practitioners Act 1938 (NSW) s 32W