Holden and Australian Securities and Investments Commission

The Administrative Appeals Tribunal considered an application by Mr Holden to review a decision by a delegate of the Australian Securities and Investments Commission (ASIC) to disqualify him from managing corporations for a period of three years. The dispute concerned the appropriateness of this disqualification period.

The primary legal issue before the Tribunal was whether the delegate's decision to disqualify Mr Holden from managing corporations for three years was the correct or preferable decision. This required the Tribunal to assess the evidence before the delegate and determine if the disqualification period was justified under the relevant provisions of the *Corporations Act 2001* (Cth).

The Tribunal affirmed the delegate's decision. While the specific reasoning is not detailed in the provided text, the outcome indicates that the Tribunal found the delegate had correctly applied the law and the evidence supported the three-year disqualification period. The Tribunal's role was to substitute its own decision for that of the delegate if it found the delegate's decision to be incorrect or preferable.

Consequently, the Tribunal ordered that the decision of the delegate of ASIC, dated 25 June 2014, which disqualified the applicant from managing corporations for a period of three years, be affirmed.