Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Australian Securities and Investments Commission v Godfrey [2017] FCA 1569 File number: VID 690 of 2017
Judge: MOSHINSKY J
Date of judgment: 22 December 2017
Catchwords: CORPORATIONS – financial reporting – obligation of director under s 344(1) of Corporations Act 2001 (Cth) to take all reasonable steps to comply with, or to secure compliance with, Pt 2M.3 – where director failed to take all reasonable steps to ensure that financial reports complied with the requirements of Pt 2M.3 – where director admitted contravening s 344(1) – where parties prepared agreed statement of facts and jointly proposed declarations and orders that the director be disqualified from managing corporations for five years and pay a pecuniary penalty of $25,000 – whether proposed orders appropriate – proposed orders made
Legislation: Corporations Act 2001 (Cth), ss 111AC, 111AI, 206C, 206E, 206G, 283AA, 292-323DA, 344, 1317DA, 1317E, 1317G, 1317J
Cases cited: Australian Competition and Consumer Commission v Coles Supermarkets Australia Pty Ltd [2014] FCA 1405 Australian Competition and Consumer Commission v High Adventure Pty Ltd [2006] ATPR 42-091; [2005] FCAFC 247 Australian Securities and Investments Commission v Beekink (2007) 238 ALR 595 Australian Securities and Investments Commission v Healey (2011) 196 FCR 291 Australian Securities and Investments Commission v Healey (No 2) (2011) 196 FCR 430 Australian Securities and Investments Commission v Lindberg (2012) 91 ACSR 640 Australian Securities and Investments Commission v John Barrie Loiterton & Ors [2004] NSWSC 172 Australian Securities and Investments Commission v Vizard (2005) 145 FCR 57 Australian Securities and Investments Commission v White (2006) 58 ACSR 261 Australian Securities Commission v Fairlie (1993) 11 ACLC 669 Commonwealth v Director, Fair Work Building Industry Inspectorate (2015) 258 CLR 482 Elliott v Australian Securities and Investments Commission (2004) 10 VR 369 NW Frozen Foods Pty Ltd v Australian Competition and Consumer Commission (1996) 71 FCR 285 Re HIH Insurance Ltd (in prov liq) and HIH Casualty and General Insurance Ltd (in prov liq); Australian Securities and Investments Commission v Adler (2002) 42 ACSR 80 Rich v Australian Securities and Investments Commission (2004) 220 CLR 129 Trade Practices Commission v Allied Mills Industries Pty Ltd (No 5) (1981) 60 FLR 38; 37 ALR 256
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