Australian Securities & Investments Commission; In the Matter of Richstar Enterprises Pty Ltd ACN 099 071 968 v Carey (No 14) [2007] FCA 310

FEDERAL COURT OF AUSTRALIA

Australian Securities & Investments Commission; In the Matter of Richstar Enterprises Pty Ltd ACN 099 071 968 v Carey (No 14) [2007] FCA 310

CORPORATIONS – application for freezing orders in relation to property – company under investigation by Australian Securities and Investments Commission – jurisdiction – s 1323 Corporations Act 2001 – nature of powers conferred by s 1323 – no power to make freezing orders – application of s 23 Federal Court of Australia Act 1976 –grounds for primary relief including appointment of receivers under s 1323 to be demonstrated before powers under s 23 can be invoked – freezing orders under s 23 available in aid of jurisdiction under s 1323 – grounds for exercise of power under s 1323 to be demonstrated – grounds not made out – application dismissed – need for amendment of s 1323 COURTS AND JUDGES – jurisdiction – power – distinction – power in aid of exercise of jurisdiction – s 23 of Federal Court Act – power to make order in matters in which Court has jurisdiction – not a source of jurisdiction – whether mareva type order may be made under s 23 in proceedings under s 1323 of the Corporations Act Corporations Act 2001 (Cth) s 1323 Federal Court of Australia Act 1976 (Cth) s 23 Australian Securities & Investments Commission; In the matter of Richstar Enterprises Pty Ltd (ACN 099 071 968) v Carey (No 3) [2006] FCA 433 cited Australian Securities and Investments Commission v Wiggins (1998) 90 FCR 314 followed Pitfield v Franki (1970) 123 CLR 448 cited R v Marshall; Ex parte Federated Clerks Union of Australia (1975) 132 CLR 595 cited R v Cook; Ex parte Twigg (1980) 147 CLR 15 cited Philip Morris Inc v Adam P Brown Male Fashions Pty Ltd (1981) 148 CLR 457 cited Re Refugee Review Tribunal; Ex parte Aala (2000) 204 CLR 82 cited Minister for Immigration and Multicultural Affairs; Ex parte Durairajasingham (2000) 168 ALR 407 cited Re McBain; Ex parte Australian Catholic Bishops Conference (2002) 209 CLR 372 cited Cardile v LED Builders Pty Ltd (1999) 198 CLR 380 cited Byrne v Australian Airlines Ltd (1995) 185 CLR 410 cited Patrick Stevedores Operations No 2 Pty Ltd v Maritime Union of Australia (1998) 195 CLR 1 cited Beach Petroleum v Johnson (1992) 9 ACSR 404 cited AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION v NORMAN PHILLIP CAREY, GRAEME JOHN RUNDLE, CEDRIC RICHARD PALMER BECK, JOHN NORMAN DIXON, RICHSTAR ENTERPRISES PTY LTD ACN 099 071 968, WESTPOINT REALTY PTY LTD ACN 050 218 954, BOWESCO PTY LTD ACN 008 915 357, REDCHIME PTY LTD ACN 117 947 805, KEYPOINT DEVELOPMENTS PTY LTD ACN 115 507 232, SILKCHIME PTY LTD ACN 066 849 429, ROLD CORPORATION ACN 009 358 276 AND HEALTHCARE PROPERTIES PTY LTD ACN 075 401 955 WAD83 OF 2006