Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Australian Securities and Investments Commission v Astra Resources Ltd (No 2) [2016] FCA 560 File number: SAD 94 of 2014
Judge: WHITE J
Date of judgment: 20 May 2016
Catchwords: CORPORATIONS – contraventions of s 727(1) of the Corporations Act 2001 (Cth) – distribution of offers of shares without required disclosure – failure to obtain independent legal advice – orders as to disqualification of directors – orders as to correspondence to affected shareholders – consideration of voiding orders.
Legislation: Australian Securities and Investments Commission Act 2001 (Cth) s 19 Corporate Law Economic Reform Program Act 1999 (Cth) Ch 6D Corporations Act 2001 (Cth) ss 92, 180, 206E, 206G, 259, 444GA, 700, 707, 708, 726, 727, 738, 739, 741, 742, 764A, 766C, 1101B, 1114, 1324B Cross-Border Insolvency Act 2008 (Cth) ss 16, 471B Trade Practices Act 1974 (Cth) ss 80 and 80A Companies Act 1961 (NSW) Securities Industry (Victoria) Code s 14 Companies Act 2006 (UK) Insolvency Act 1986 (UK) ss 127, 563A Model Law on Cross-Border Insolvency of the United Nations Commission on International Trade Law Arts 15, 17, 20, 25, 26
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