Premier Pacific Pharmaceutical Industries Ltd v Australian Stock Exchange Ltd & Anor [1995] FCA 422

CATCHWORDS CORPORATIONS - issue of prospectus which stated that an application would be made for quotation of the securities on the ASX - undertaking given to comply with the requirements of the ASX - whether an undertaking can or should be given in respect of a requirement the fulfilment of which is not within the control of the directors - whether distinction to be drawn between a "condition" and "requirement" - whether undertaking given satisfied s.1031(7) of the Corporations Law - whether ASX had power to accept or reject the undertaking - construction of s.1031 Corporations Law - meaning of "undertake", "requirements", "condition". Corporations Law - s.1031, s.1084(6) Brolga Minerals Ltd v Stock Exchange of Perth Ltd (1971-1979) Australian Securities Law Cases ¶75-007, case no. 85,164, noted 47 ALJ 337 Cody v J.H. Nelson Pty Ltd (1947) 74 CLR 629 Meer v London Borough of Tower Hamlets [2988] IRLR 399 Perera v Civil Service Commission (No. 2) [1983] ICR 428 Quadling v Robinson (1976) 137 CLR 192 PREMIER PACIFIC PHARMACEUTICAL INDUSTRIES LIMITED v AUSTRALIAN STOCK EXCHANGE LIMITED and ABN AMRO BANK N\V NG 275 of 1995 Davies, Beaumont & Burchett JJ. 26 June 1995 Sydney

IN THE FEDERAL COURT OF AUSTRALIA ) ) NEW SOUTH WALES DISTRICT REGISTRY ) No G 275 of 1995 ) GENERAL DIVISION ) On appeal from a judgment of a single judge of the Federal Court of Australia BETWEEN: PREMIER PACIFIC PHARMACEUTICAL INDUSTRIES LIMITED (ARBN 066 346 889) Appellant AND: AUSTRALIAN STOCK EXCHANGE LIMITED (ACN 008 624 691) First Respondent ABN AMRO BANK N/V (ACN 008 583 551) Second Respondent Coram: Davies, Beaumont & Burchett JJ. Date: 26 June 1995 Place: Sydney MINUTES OF ORDER THE COURT ORDERS THAT: The appeal be dismissed with costs. NOTE: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.