Erhardt and Australian Securities and Investments Commission

This matter concerned an application by Erhardt for an extension of time to apply for a review of a decision made by the Australian Securities and Investments Commission (ASIC). The application for review was lodged approximately one month after the expiry of the prescribed time limit.

The primary legal issues before the Tribunal were whether Erhardt had provided a reasonable excuse for the delay in lodging the application for review, and whether it was reasonable in all the circumstances to grant an extension of time. The Tribunal was required to consider the adequacy of the evidence presented by Erhardt to explain both the delay in seeking the review and the delay in filing the application for an extension of time.

The Tribunal found that Erhardt had failed to provide sufficient evidence to adequately explain the delay in lodging the application for review. Furthermore, the Tribunal was not satisfied that there was sufficient evidence to explain the delay in lodging the application for an extension of time itself. Consequently, the Tribunal determined that it was not reasonable in all the circumstances to grant the extension of time.

The application for an extension of time was dismissed.