In the matter of National Australia Bank Limited [2020] NSWSC 1761

Supreme Court New South Wales

Medium Neutral Citation: In the matter of National Australia Bank Limited [2020] NSWSC 1761 Hearing dates: 16 November 2020 Date of orders: 16 November 2020 Decision date: 08 December 2020 Jurisdiction: Equity - Corporations List Before: Black J Decision: Orders made validating transfers of shares or units of shares. Catchwords: CORPORATIONS — Shares — Dealings in shares — Issues or transfers of shares to controlled entities — Crossing and special crossing transactions not covered by s 259C exception or ASIC exemption — Application for s 1322 validation — Honest mistake — No prejudice — Prejudice to subsequent acquirers if not validated. Legislation Cited: - Corporations Act 2001 (Cth), ss 295C, 259E, 1322 Cases Cited: - Cordiant Communications (Australia) Pty Ltd v The Communications Group Holdings Pty Ltd (2005) 55 ACSR 185 - Re ANZ Banking Group Ltd (2010) 272 ALR 400 Re Commonwealth Bank of Australia (2005) 57 ACSR 28 - Re Macquarie Group Ltd [2010] FCA 1507 - Re Macquarie Securities (Australia) Ltd [2014] FCA 455 - Re MLC Limited (2006) 60 ACSR 187 - Re Westpac Banking Corporation (2004) 53 ACSR 288 Category: Principal judgment Parties: National Australia Bank Limited (Plaintiff) Antares Capital Partners Ltd (First Defendant) MLC Investments Limited (Second Defendant) National Nominees Limited (Third Defendant) MLC Limited (Fourth Defendant) Representation: Counsel: I Jackman SC and I Ahmed (Plaintiff)