Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Australia and New Zealand Banking Group Limited, in the matter of Australia and New Zealand Banking Group Limited [2010] FCA 945
Citation: Australia and New Zealand Banking Group Limited, in the matter of Australia and New Zealand Banking Group Limited [2010] FCA 945
Parties: AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED (ACN 005 357 522), ING AUSTRALIA LIMITED (ACN 000 000 779), ING (NZ) HOLDINGS LIMITED (NZCN 1696108), ING LIFE LIMITED (ACN 009 657 176), ING (NZ) NOMINEEES LIMITED (NZCN 633618), ING FUNDS MANAGEMENT LIMITED (ACN 003 002 800), ING CUSTODIANS PTY LTD (ACN 008 508 496), OASIS FUND MANAGEMENT LIMITED (ACN 106 045 050), FSP FUNDS MANAGEMENT LIMITED (ACN 102 944 598) and FSP PORTFOLIO ADMINISTRATION LIMITED (ACN 093 403 608)
File number: NSD 783 of 2010
Judge: EDMONDS J
Date of judgment: 6 September 2010
Catchwords: CORPORATIONS – application under s 1322(4) of the Corporations Act 2001 (Cth) to validate certain transactions in shares that may otherwise be invalid by reason of the operation of s 259C(1) of the Corporations Act – policy underlying s 259C – whether rights of indemnification as trustee confers a beneficial interest in assets of a trust fund – jurisdiction under s 1322(4)(a) as confined by s 1322(6)(a) – the construction of s 1322(6)(a) – matters supporting exercise of discretion to validate.
Legislation: Corporations Act 2001 (Cth) ss 259C, 1322
Cases cited: Arjon Pty Ltd v Commissioner of State Revenue (Vic) (2003) 8 VR 502 referred to Chief Commissioner of Stamp Duties (NSW) v ISPT Pty Ltd (1998) 45 NSWLR 639 referred MSP Nominees Pty Ltd v Commissioner of Stamps (SA) (1999) 198 CLR 494 referred Octavo Investments Pty Ltd v Knight (1979) 144 CLR 360 referred to Re Commonwealth Bank of Australia (2005) 57 ACSR 28 referred to Re Golden Gate Petroleum Limited (2010) 77 ACSR 17 referred to Re MLC Ltd [2006] FCA 1357 referred to Re Westpac Banking Corporation (2004) 53 ACSR 288 referred to
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