Rectification of ASIC registers and databases

Research output: Contribution to journalArticle

Abstract

This article examines the power of courts to rectify registers maintained bythe Australian Securities and Investments Commission pursuant to a generalpower of rectification contained in s 1322(4)(b) of the Corporations Act 2001(Cth). The recent decisions of Finkelstein J in Re Westpoint ConstructionsPty Ltd (2005) 23 ACLC 1384 and of Barrett J in both Lavercombe v AuscottLtd (2006) 202 FLR 390; 58 ACSR 586 and Westbury Holdings Kiama Pty Ltdv Australian Securities and Investments Commission (2007) 25 ACLC 710provide contrasting views on the scope of the power to rectify. Finkelstein Jadopted a broad approach to rectification which resulted in an order thatASIC remove from any publicly-available register which it keeps, anyreference to certain documents, an approach rejected by Barrett J. Thesecontrasting views are explored and a number of reforms proposed to theCorporations Act 2001 (Cth).
Original languageEnglish
Pages (from-to)544-553
JournalCompany and Securities Law Journal
Volume25
Issue number8
Publication statusPublished - 2007

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