Australian Securities & Investments Commission v Axis International Management Pty Ltd [2009] FCA 852

FEDERAL COURT OF AUSTRALIA

Australian Securities & Investments Commission v Axis International Management Pty Ltd [2009] FCA 852

CONSTITUTIONAL LAW – whether proceeding involves a "matter" – Ch III of the Constitution of the Commonwealth – s 39B(1A) Judiciary Act 1903 (Cth) – s 21 Federal Court of Australia Act 1976 (Cth) – Corporations Act 2001 (Cth) s 1337B(1). COURTS AND JUDGES – jurisdiction – Federal Court – original jurisdiction of – declaratory relief – whether a "matter" arising under laws of the (Commonwealth) Parliament – s 39B(1A) of the Judiciary Act 1976 – whether a civil "matter" arising under the Corporations legislation – s 1337B(1) of the Corporations Act 2001 (Cth) – s 21 Federal Court of Australia Act 1976 (Cth). PRACTICE AND PROCEDURE – declarations of contravention of s 727 Corporations Act 2001 (Cth) – whether amounting to advisory opinion of Court or resolution of hypothetical dispute – whether bare declaratory relief available to Australian Securities and Investments Commission. ABUSE OF PROCESS – where real possibility of other proceedings by investors – whether likelihood of re-litigation of issues – whether administration of justice will be brought into disrepute – potential for inconsistent findings –whether oppressive to relevant defendant.

Corporations Act 2001 (Cth), ss 727, 1324B, 1325, 1337B Federal Court of Australia Act 1976 (Cth), s 21 Judiciary Act 1903 (Cth), s 39B Federal Court Rules O 20, r 5 Constitution of the Commonwealth, Ch III Ainsworth v Criminal Justice Commission (1992) 175 CLR 564 cited Ann Street Mezzanine Pty Limited (in liq) v Beck (2009) 225 ALR 324cited Australian Securities and Investments Commission v HLP Financial Planning (Aust) Pty Ltd (2007) 164 FCR 487 referred to Australian Securities & Investments Commission v McDougall (2006) 57 ACSR 175referred to Australian Securities & Investments Commission v Pegasus Leveraged Options Group Pty Ltd (2002) 41 ACSR 561referred to Australian Institute of Private Detectives Ltd v Privacy Commissioner (2004) 139 FCR 394cited Australian Securities & Investments Commission v Sweeney [2001] NSWSC 114referred to Australian Softwood Forest Pty Ltd v Attorney-General (NSW) (1981) 148 CLR 121referred to Australian Securities & Investments Commission v West (2008) 100 SASR 496 cited Bass v Permanent Trustee Co Ltd (1999) 161 ALR 399cited British American Tobacco Australia Ltd v Western Australia (2003) 217 CLR 30 cited Corporate Affairs Commission (NSW) v Transphere Pty Ltd (1988) 15 NSWLR 596 referred to Direct Factory Outlets Pty Ltd v Westfield Management Ltd (2003) 132 FCR 428referred to Forster v Jododex Australia Pty Ltd (1972) 127 CLR 421referred to Gardner v Dairy Industry Authority (NSW) (1977) 52 ALJR 180cited IMF (Australia) Ltd v Sons of Gwalia (Administrator Appointed) (2004) 211 ALR 231 cited JN Taylor Holdings Ltd (in liq) v Bond (1993) 59 SASR 432cited Litmus Australia Pty Ltd (in liq) v Canty (2006) 57 ACSR 71 cited Re: Judiciary and Navigation Acts (1921) 29 CLR 257 applied Re McBain; Ex parte Australian Catholic Bishops Conference (2002) 209 CLR 372cited Sterling Pharmaceuticals Pty Limited v The Boots Company (Australia) Pty Ltd (1992) 34 FCR 287cited Tobacco Institute of Australia Ltd v Australian Federation of Consumer Organisations Inc (No 2) (1993) 41 FCR 89referred to Truth About Motorways Pty Limited v Macquarie Infrastructure Management Limited (2000) 200 CLR 591cited University of New South Wales v Moorhouse (1975) 133 CLR 1cited Walton v Gardiner (1993) 177 CLR 378cited AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION v AXIS INTERNATIONAL MANAGEMENT PTY LIMITED (ACN 075 799 772)