Application of Rade Stojic [2006] NSWSC 608

Reported Decision : 63 ATR 11 (2006) 24 ACLC 844

New South Wales Supreme Court

CITATION : Application of Rade Stojic [2006] NSWSC 608

HEARING DATE(S) : 24/05/06

JUDGMENT DATE : 24 May 2006

JURISDICTION : Equity Division

JUDGMENT OF : White J

EX TEMPORE JUDGMENT DATE : 05/24/2006

DECISION : 1. Make orders in accordance with paras 1-6 of the originating process; 2. the exhibits may be returned.

CATCHWORDS : CORPORATIONS – Application for order that Australian Securities and Investments Commission (ASIC) reinstate registration of company – s 601AH(2) Corporations Act 2001 (Cth) – Plaintiff was sole director and secretary of company – Company deregistered for failure to lodge annual returns with ASIC – Application prompted by notice under s 222AOE Income Tax Assessment Act 1936 (Cth) that plaintiff liable to Commissioner of Taxation for unpaid liabilities of company – Plaintiff entitled to exemption from liability by causing company to be wound up within fourteen days of notice – Where purpose of reinstatement is to effect winding-up of company – Where ASIC not opposed to application for reinstatement – Where Commission of Taxation not opposed to application for reinstatement – Whether order for reinstatement appropriate – Australian Competition and Consumer Commission v Australian Securities and Investments Commission (2000) 34 ACSR 232 considered – Policy of Income Tax Assessment Act considered – Application granted - CORPORATIONS – Winding-up – Application for leave for plaintiff to apply for winding-up of company in insolvency – Where grounds for winding-up plainly established – Application granted.

Corporations Act 2001 (Cth) LEGISLATION CITED : Income Tax Assessment Act 1936 (Cth) Taxation Administration Act 1953 (Cth)