Australian Securities Commission v Perpetual Trustee Co (Canberra) Ltd Perpetual Trustee Co (Canberra) Ltd v Australian Securities Commission & Ors [1998] FCA 530

FEDERAL COURT OF AUSTRALIA Contract - True construction of the Deed of Indemnity - Where trustee of one trust accepts trusteeship of another trust and incurs a liability with respect to an "inter-trust" transaction - Whether clause operated to indemnify the Trustee only with respect to liabilities resulting from accepting appointment to the later trust - Whether clause indemnified Trustee with respect to any liabilities arising from the "inter-trust" transaction - Whether clause clear and unambiguous in its meaning. Codelfa Construction Pty Ltd v State Rail Authority of New South Wales (1982) 149 CLR 337 (Applied) Perpetual Trustee Company (Canberra) Ltd v Commissioner for Australian Capital Territory Revenue (1994) 50 FCR 405 (Referred to) Stamp Duties and Taxes Act 1987 (ACT) ss 17, 18 and 22 Taxation (Administration) Act 1987 (ACT) s 31 AUSTRALIAN SECURITIES COMMISSION (Applicant) v PERPETUAL TRUSTEE COMPANY (CANBERRA) LIMITED ACN 008 393 806 (Respondent) PERPETUAL TRUSTEE COMPANY (CANBERRA) LIMITED ACN 008 393 806 (Cross-Claimant) AUSTRALIAN SECURITIES COMMISSION (First Cross-Respondent) TERRENCE MARK SNOW AND GEORGE ROBERT WARWICK SNOW (Second Cross-Respondents) CAPITAL PROPERTY CORPORATION PTY LIMITED (Third Cross-Respondent) AG 3003 of 1997 FINN J CANBERRA 15 MAY 1998

IN THE FEDERAL COURT OF AUSTRALIA

AUSTRALIAN CAPITAL TERRITORY DISTRICT REGISTRY AG 3003 of 1997

BETWEEN: AUSTRALIAN SECURITIES COMMISSION

Applicant

AND: PERPETUAL TRUSTEE COMPANY (CANBERRA) LIMITED

ACN 008 393 806

Respondent

PERPETUAL TRUSTEE COMPANY (CANBERRA) LIMITED

ACN 008 393 806

CROSS-CLAIMANT

AUSTRALIAN SECURITIES COMMISSION

FIRST CROSS-Respondent

TERRENCE MARK SNOW AND GEORGE ROBERT WARWICK SNOW