Federal Court of Australia
Federal Court of Australia
Pherous Holdings Group Pty Ltd, in the matter of Pherous Holdings Group Pty Ltd [2022] FCA 613 File number(s): NSD 111 of 2022
Judgment of: WIGNEY J
Date of judgment: 12 May 2022
Catchwords: CORPORATIONS – application for order pursuant to s 601AH(3)(d) of Corporations Act 2001 (Cth) – administrative oversight led to plaintiff's deregistration by ASIC – plaintiff subsequently reinstated pursuant to s 601AH(5) of Corporations Act 2001 (Cth) – divestment and revesting of plaintiff's shareholding – potentially significant capital gains tax liability might be incurred as a result – consideration of The Bell Group Limited v Australian and Securities Investments Commission (2018) 358 ALR 624; [2018] FCA 884 – whether order sought is within power and appropriate – order made
Legislation: Corporations Act 2001 (Cth) ss 601AB, 601AD(2), 601AH(1), 601AH(3)(d), 601AH(5) Income Tax Assessment Act 1997 (Cth) ss 104-10(1), 104-10(2)
Cases cited: The Bell Group Limited v Australian and Securities Investments Commission (2018) 358 ALR 624; [2018] FCA 884 Tyman's Ltd v Craven [1952] 2 QB 100
Division: General Division
Registry: New South Wales
National Practice Area: Commercial and Corporations
Sub-area: Corporations and Corporate Insolvency
Number of paragraphs: 24
Date of hearing: 12 May 2022
Counsel for the Plaintiff: Ms K Deards SC with Mr R May
Solicitor for the Plaintiff: Allens
Table of Corrections
30 May 2022 In [11], the word "not" has been added before the words "relevantly operate retrospectively". In [11], the word "no" that precedes the words "change in ownership" has been amended to "a".
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