Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Australian Securities and Investments Commission v One Tech Media Ltd (No 6) [2020] FCA 842 File number: VID 848 of 2016
Judge: DAVIES J
Date of judgment: 17 June 2020
Catchwords: CORPORATIONS – penalties for breaches of Australian Securities and Investments Commission Act 2001 (Cth) (ASIC Act) and Corporations Act 2001 (Cth) (Corporations Act) – where breaches already established – pecuniary penalty for breach of s 12CB(1) of the ASIC Act – maximum penalty justified – disqualification orders under s 206E of the Corporations Act – permanent disqualification and disqualification for 15 years respectively justified – permanent injunctions preventing defendants from carrying on a financial services business granted PRACTICE AND PROCEDURE – costs – where plaintiff applied for Sanderson or Bullock Order against unsuccessful defendants in respect of successful defendants' costs – proceedings reasonably started against successful defendants but unreasonably persisted in – unsuccessful defendants did not induce plaintiff to continue proceedings against successful defendants – not fair and reasonable to impose liability for successful defendants' costs on unsuccessful defendants – Sanderson and Bullock Orders refused
Legislation: Australian Securities and Investments Commission Act 2001 (Cth), ss 12CB(1), 12GBA Corporations Act 2001 (Cth), ss 206C, 206E, div 3 pt 7.6, 911A, 1012B(3), 1101B, 1324 Crimes Act 1914 (Cth), s 4AA(1)
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