Precision Data Holdings Ltd v Dean Wills

[1991] HCA 41

HIGH COURT OF AUSTRALIA

Mason C.J., Brennan, Deane, Dawson, Toohey, Gaudron and McHugh JJ.

PRECISION DATA HOLDINGS LTD. AND ORS v. DEAN WILLS; ROSS ADLER; PETER JOOSTE (in their capacity as Members of the Corporations and Securities Panel) AND ORS

24 October 1991

Decision

MASON C.J., BRENNAN, DEANE, DAWSON, TOOHEY, GAUDRON AND McHUGH JJ. In view of the urgency of this matter, the Court, having come to a clear and unanimous conclusion that the challenge to the validity of ss.733 and 734 of the Corporations Law of Victoria must fail, has decided that it should announce that conclusion and make appropriate orders now, leaving the publication of reasons to a later date. The order of the Court is:
Answer the question reserved as follows:
Question: By reason of the plaintiffs' contentions in

paragraphs 12 and 13, is the Corporations and Securities Panel precluded from validly exercising the functions and powers referred to in sections 733 and 734 of the Corporations Law of Victoria?

Answer: No.

2. The plaintiffs to pay the defendants' costs of the question reserved.

Orders

Answer the question reserved as follows:
Question: By reason of the plaintiffs' contentions in paragraphs 12 and 13, is the Corporations and Securities Panel precluded from validly exercising the functions and powers referred to in sections 733 and 734 of the Corporations Law of Victoria?
Answer: No.

The plaintiffs to pay the defendants' costs of the question reserved.