Australian Securities Commission v Bank Leumi Le-Israel (Switzerland) & Ors [1996] FCA 825

CATCHWORDS CORPORATIONS LAW - remedial orders under ss 741(1), 742(2) - factors which may to be taken into account - orders compel conduct which may be in breach of foreign law - culpability of those in breach of relevant provisions - effect of orders on beneficial owners of shares - whether a general rule that in cases of non compliance with a secondary notice the appropriate order is only one for peremptory sale of shares to which notice relates - whether order under s 742(2) dealing with proceeds of sale of shares is an order "in relation" to shares - whether a secondary notice under s 719 may be given by fax - meaning of "give" - whether s 109X definition of "give" applicable - court's power to excuse contravention of Part 6.8 under s 743 - matters to be taken into account WORDS AND PHRASES - "in relation to any of the shares" under s 742(2) of the Corporations Law - whether an order dealing with the proceeds of sale of shares is an order "in relation" to shares - "give" under s 719 of the Corporations Law - whether notice may be given by fax Corporations Law s 6(1), s 9, s 109H, s 109X, s 110D, s 220, s 459, s 577, s 613(1), s 708, s 709, s 710, s 711, s 717, s 718, s 719, s 720, s 721, s 722, s 723, s 741(1), s 742(2), s 743, s 744(2), s 744(6), s 744(9), s 747, s 1322(4)(d), s 1324(2), s 1341(2) Re North Broken Hill Holdings Ltd (1986) 10 ACLR 270 at 282, 283 Brunswick NL v Blossomtree Pty Ltd (1992) 7 WAR 226 at 234, 235 House v R (1936) 55 CLR 499 at 505 Pottinger v George (1967) 116 CLR 328 at 337 Rowell v Pratt [1938] AC 101 at 106 Metals Exploration Ltd v Samic Ltd (1994) 181 CLR 109 at 127, 128 Workers' Compensation Board (Q) v Technical Products Pty Ltd (1988) 165 CLR 642 at 653, 654 Jackson v Sterling Industries Ltd (1987) 162 CLR 612 at 619, 621, 625, 643 Racecourse Totalizators Pty Ltd v Hartley Cyber Engineering Pty Ltd (1989) 15 ACLR 457 Re Mannum Haulage Pty Ltd (1974) 8 SASR 451 CFC Corporation Pty Ltd v Lanier (Australia) Pty Ltd (1993) 116 FLR 456 Vicbar Pty Ltd v Development Constructions (Newcastle) Pty Ltd (1995) 13 ACLC 1,220 Pacific Capital Ltd v BBC Hardware Ltd (1995) 13 ACLC 1,652 Hastie & Jenkerson v McMahon [1990] 1 WLR 1575 NM Superannuation Pty Ltd v Hughes (1992) 27 NSWLR 26 AUSTRALIAN SECURITIES COMMISSION v BANK LEUMI LE-ISRAEL (Switzerland) & ORS No. NG 973 of 1995