Deane, in the matter of MSB Capital Holdings Pty Ltd (in liq) [2023] FCA 919

Federal Court of Australia

Deane, in the matter of MSB Capital Holdings Pty Ltd (in liq) [2023] FCA 919 File number(s): QUD 352 of 2022

Judgment of: DOWNES J

Date of judgment: 8 August 2023

Catchwords: CORPORATIONS – privilege against exposure to penalty – summons issued to produce books pursuant to s 596B Corporations Act 2001 (Cth) – whether implied abrogation of penalty privilege – whether claim for penalty privilege is a reasonable excuse within s 597(7)(d) Corporations Act 2001 (Cth) – relevance of express abrogation of penalty privilege in relation to answers given at examination pursuant to s 597(12) Corporations Act 2001 (Cth) – determined that penalty privilege cannot be claimed in relation to production of books in response to summons issued under s 596B Corporations Act 2001 (Cth)

Legislation: Corporations Act 2001 (Cth) ss 596A, 596B, 596D(2), 597, 1316A

Cases cited: Ariff v Fong (2010) 79 NSWLR 392; [2010] NSWSC 696 Australian Securities and Investments Commission v Albarran (2008) 169 FCR 448; [2008] FCA 147 Australian Securities and Investments Commission v Mining Projects Group Ltd (2007) 164 FCR 32; [2007] FCA 1620 Bank of Valletta plc v National Crime Authority (1999) 164 ALR 45; [1999] FCA 791 Controlled Consultants Pty Ltd v Commissioner for Corporate Affairs (1984–1985) 156 CLR 385 Gemmell v Le Roi Homestyle Cookies Pty Ltd (in liq) (2014) 46 VR 583; [2014] VSCA 182 Gould v Brown (1998) 193 CLR 346 Hamilton v Oades (1988–1989) 166 CLR 486 Highstoke Pty Ltd v Hayes Knight GTO Pty Ltd (2007) 156 FCR 501; [2007] FCA 13 Lee v New South Wales Crime Commission (2013) 251 CLR 196; [2013] HCA 39 Meneses v Directed Electronics OE Pty Ltd (2019) 273 FCR 638; [2019] FCAFC 190 Migration Agents Registration Authority v Frugtniet (2018) 259 FCR 219; [2018] FCAFC 5 Mortimer v Brown (1969–1970) 122 CLR 493 Potter v Minahan (1908) 7 CLR 277 Price v McCabe; ex parte Price (1984) 55 ALR 319; [1985] 2 Qd R 510 Re Compass Airlines Pty Ltd (1992) 35 FCR 447 Re Transequity Ltd (in liq) (1991) 6 ACSR 517; [1991] Tas R 308 Re Westgate Wool Co Pty Ltd (in liq) (2006) 60 ACSR 570; [2006] SASC 372 Rich v Australian Securities and Investments Commission (2004) 220 CLR 129; [2004] HCA 42 Rolfe v The Territory Coroner & Ors [2023] NTCA 8 Saraceni v Jones (2012) 42 WAR 518; [2012] WASCA 59 Smith v Papamihail (1998) 88 FCR 80 Spotlight Pty Ltd v Mehta [2020] FCA 1422 Taikato v The Queen (1996) 186 CLR 454 The Daniels Corporation International Pty Ltd v Australian Competition and Consumer Commission (2002) 213 CLR 543; [2002] HCA 49 Walton v ACN 004 410 833 (formerly Arrium Ltd (in liq)) (2022) 399 ALR 1; [2022] HCA 3