Australian Securities and Investments Commission v Australian Mines Limited [2023] FCA 9

FEDERAL COURT OF AUSTRALIA

Australian Securities and Investments Commission v Australian Mines Limited [2023] FCA 9 File number: WAD 84 of 2022

Judgment of: COLVIN J

Date of judgment: 13 January 2023

Catchwords: CORPORATIONS - application for declaratory orders and orders for payment of a penalty under s 1317E and s 1317G of the Corporations Act 2001 (Cth) - where first respondent admits to three contraventions of its continuous disclosure obligation under s 674(2) - where first respondent acquired a mining project and entered into an offtake agreement - where contraventions involved failure to disclose material terms of the agreement and making false or misleading statements relating to the agreement - where misleading statements were retracted and where first respondent provided corrective disclosure to the ASX - where applicant and first respondent have agreed on proposed orders - orders made in terms of proposed orders

Legislation: Corporations Act 2001 (Cth) ss 674, 1317E, 1317G, Part 6CA

Cases cited: Australian Building and Construction Commissioner v Pattinson [2022] HCA 13 Australian Competition and Consumer Commission v MSY Technology Pty Ltd (No 2) [2011] FCA 382 Australian Energy Regulator v EnergyAustralia Pty Ltd [2022] FCA 644 Australian Securities and Investments Commission v Hochtief Aktiengesellshcaft [2016] FCA 1489 Australian Securities and Investments Commission v Lindberg [2012] VSC 332 Australian Securities and Investments Commission v Newcrest Mining Limited [2014] FCA 698 Commonwealth of Australia v Director, Fair Work Building Industry Inspectorate [2015] HCA 46; (2015) 258 CLR 482 Singtel Optus Pty Ltd v Australian Competition and Consumer Commission [2012] FCAFC 20 Trade Practices Commission v CSR Ltd [1991] ATPR 41-076