Deloitte Touche Tohmatsu (formerly known as Deloitte Haskins & Sells and Deloitte Ross Tohmatsu) v Australian Securities Commission (No 4) [1996] FCA 226

CATCHWORDS Administrative Law - Judicial Review - decision of the Australian Securities Commission to cause proceedings to be begun and carried on in the name of a company against the applicant - whether decision and improper exercise of power - whether decision involved a failure to take into account relevant considerations - failure to take into account whether exceptional circumstances existed warranting the Commission's launching proceedings in the company's name when its directors had not consented - legislative background of s 50 of Australian Securities Commission Act 1989.

Words and Phrases - "decision" - "public interest". Australian Securities Commission Act 1989 (Cth) s 50. DELOITTE TOUCHE TOHMATSU (formerly known as DELOITTE HASKINS & SELLS and DELOITTE ROSS TOHMATSU) v AUSTRALIAN SECURITIES COMMISSION No NG 286 of 1994 Lindgren J Sydney 4 April 1996

IN THE FEDERAL COURT OF AUSTRALIA) NEW SOUTH WALES DISTRICT REGISTRY) No NG 286 of 1994 GENERAL DIVISION ) BETWEEN: DELOITTE TOUCHE TOHMATSU (formerly known as DELOITTE HASKINS & SELLS and DELOITTE ROSS TOHMATSU) Applicant AND: AUSTRALIAN SECURITIES COMMISSION Respondent CORAM: Lindgren J PLACE: Sydney DATE: 4 April 1996

MINUTE OF ORDERS THE COURT: 1. ORDERS that the decision of the respondent made on or about 29 March 1994 to cause proceedings to be begun and carried on in the name of The Adelaide Steamship Company Limited against Deloitte Ross Tohmatsu, formerly Deloitte Haskins & Sells, for the recovery of damages and ancillary relief in respect of matters arising out of the 1990 accounts and payment of dividends by the said company for the 1990 year, be set aside. 2. ORDERS the respondent pay the applicant's costs of the proceedings not the subject of previous orders.

3. RESERVES liberty to either party to apply on three days' notice for further relief arising out of the Reasons of Lindgren J published on 4 April 1996. NOTE: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.