Ani Corporation Limited v Wylie

Ani Corporation Limited (the applicant) sought leave to appeal to the High Court of Australia against a decision of the Full Federal Court. The dispute concerned the interpretation of section 131(1) of the *Corporations Act 2001* (Cth) (the Act), which provides for the confidentiality of documents produced to the Australian Securities and Investments Commission (ASIC) under compulsion. The applicant had produced documents to ASIC pursuant to a notice issued under section 19 of the *Australian Securities and Investments Commission Act 2001* (Cth). Subsequently, the respondent, Mr Wylie, sought access to these documents in separate proceedings.

The primary legal issue before the High Court was whether section 131(1) of the *Corporations Act* operated to prevent the disclosure of documents produced to ASIC under compulsion, even when those documents were sought in separate proceedings by a party who was not ASIC. The High Court was required to determine the scope of the privilege conferred by section 131(1) and whether it extended to protect documents from disclosure in circumstances where the party seeking access was not ASIC itself, but a private litigant.

McHugh and Hayne JJ held that section 131(1) of the *Corporations Act* did not create a privilege against disclosure in favour of the person who produced the documents. Rather, it created a prohibition on disclosure by ASIC, with limited exceptions. Their Honours reasoned that the purpose of section 131(1) was to protect the integrity of ASIC's investigative powers by ensuring that information obtained under compulsion would not be readily available to third parties. However, this protection was directed at ASIC's actions, not at creating a general evidentiary privilege for the producing party. The court found that the language of the section did not support an interpretation that would grant a privilege to the applicant in the circumstances.

Leave to appeal was granted, and the appeal was allowed. The High Court set aside the order of the Full Federal Court and remitted the matter to the Federal Court for determination according to law.