Syncap Management (Rural) Australia Ltd v Lyford [2004] FCA 1352

FEDERAL COURT OF AUSTRALIA

Syncap Management (Rural) Australia Ltd v Lyford [2004] FCA 1352 CORPORATIONS – managed investment scheme - validity of appointment of receivers to responsible entity – appointment applicable to changed responsible entity – indemnity exception not applicable – section said to attract a constitutional argument not material – no ambiguity in notice of appointment of receivers – no ambiguity in nature of property charged Acts Interpretation Act 1901 (Cth) s 15AA Corporations Act 2001 (Cth) ch 5C, ss 418A, 601FC, 601FS, 601FT, 601GA, 1324, 1350 Federal Court of Australia Act 1976 (Cth) s 22 Judiciary Act 1903 (Cth) s 78B WJ Gough, Company Charges, 2nd ed, Butterworths, London, 1996 Agnew v Commissioner of Inland Revenue [2001] 2 AC 710 cited Australian Competition and Consumer Commission v CG Berbatis Holdings Pty Ltd (1999) 95 FCR 292 followed Australian Competition and Consumer Commission v Maritime Union of Australia (2001) 114 FCR 472 applied Australian Tape Manufacturers Association Ltd v Commonwealth (1993) 176 CLR 480 cited Capricorn Diamonds Investments Pty Ltd v Catto (2002) 5 VR 61 cited Investa Properties Ltd, Re (2001) 187 ALR 462 applied Jones v Dunkel (1959) 101 CLR 298 applied Kay v Australian Securities and Investments Commission (2002) 43 ACSR 229 cited Kendle v Melsom (1998) 193 CLR 46 cited Narain v Parnell (1986) 9 FCR 479 applied Network Ten Pty Ltd v TCN Channel Nine Pty Ltd (2004) 205 ALR 1 cited Nolan v Collie (2003) 7 VR 287 cited SYNCAP MANAGEMENT (RURAL) AUSTRALIA LTD v MAURICE HODGSON LYFORD and MRI HOLDINGS LTD WAD 166 of 2004 RD NICHOLSON J 20 OCTOBER 2004 PERTH

IN THE FEDERAL COURT OF AUSTRALIA

WESTERN AUSTRALIA DISTRICT REGISTRY WAD 166 OF 2004

BETWEEN: SYNCAP MANAGEMENT (RURAL) AUSTRALIA LTD ACN 095 807 837