IMO Securecam Pty Ltd

The plaintiff, IMO Securecam Pty Ltd, sought an order to rectify the Australian Register of Company Charges to correct an error that incorrectly showed one of its charges as satisfied. The defendants were the first defendant, who had granted the charge to the plaintiff, and the second defendant, the Australian Securities and Investments Commission (ASIC). The legal issue was whether the court had the power under section 274 of the Corporations Act 2001 to order the rectification of the register. The court determined that it did have the power to order the rectification, as the error in the register was apparent on the face of the record and the rectification was necessary to prevent a substantial miscarriage of justice. The court ordered the rectification of the register to change the status of the charge from “satisfied” to “registered,” provided that another charge held by John Hawkins Enterprises Pty Ltd had priority over the plaintiff’s charge. The court also ordered ASIC to remove any reference to a form that purported to discharge the charge from the public register.