Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Madison Pacific Property Management Pty Ltd v Australian Securities & Investments Commission [1999] FCA 62
CORPORATIONS LAW – offer to public of franchise rights in residential tenancy property management business – whether the offers of franchises infringed s 1064(1) Corporations Law – definition of "prescribed interest" within s 9 Corporations Law – application or non-application of the "franchise" exemption in reg 1.02 Corporations Law – consideration of whether an offer to manage is inconsistent with the franchisor/franchisee relationship.
WORDS AND PHRASES – "prescribed interest", "franchise"
Managed Investments Act 1998 (Cth) Acts Interpretation Act 1901 (Cth), s 15AA Corporations Law, ss 8A, 109(H), 1064 Property Stock and Business Agents Act 1941 (NSW)
Securities Industry Act 1980 (Cth), s 43 Corporation Regulations, regs 1.02, 7.1.02 Australian Softwood Forests Pty Ltd v Attorney General (NSW) (1981) 148 CLR 121, discussed Commissioner for Corporate Affairs v Casnot Pty Ltd (1981) CLC 40-704, cited Khania Nominees v Hamilton (1986) 4 ACLC 390, cited R v Commons (1986) 4 ACLC 551, cited Amoco Australia Pty Ltd v Rocca Bros Motor Engineering Co Pty Ltd (1973) 133 CLR 288, followed Butterworth v Lezemo Pty Ltd (1983) 8 ACLR 737, referred to Streeter v Pacific-Seven Pty Ltd (1985) 9 ACLR 790, referred to Alloyweld Pty Ltd v Federal Commissioner of Taxation (1984) 69 FLR 274, referred to Oakey Abattoir v Federal Commissioner of Taxation (1984) 54 ALR 595, referred to Australian Securities Commission v United Tree Farmers (1997) 24 ASCR 94, referred to Waldron v M G Securities Australasia Ltd (1975) VR 508, referred to Scott v Commissioner of Taxation (No 2) (1966) 40 ALJR 265, referred to Snook v London & West Riding Investments Ltd [1967] 2 QB 786, referred to Sharrment Pty Ltd v Official Trustee in Bankruptcy (1988) 18 FCR 449, referred to Re British Basic Slag Agreements [1963] 2 All ER 807 (CA), applied FRENCH, DRUMMOND AND CARR JJ 8 FEBRUARY 1999 PERTH
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