Corporations Law
Jurisdiction and procedure
The Court has wide jurisdiction in matters arising under the Corporations Act 2001, the Australian Securities and Investments Commission Act 2001 and the Cross Border Insolvency Act 2008.
The general procedure for the conduct of matters under these acts is set out in the Federal Court (Corporations) Rules 2000 (Corporations Rules). As the Corporations Rules do not provide a comprehensive code, the Federal Court Rules 2011 also apply except to the extent of any inconsistency.
In corporations matters, the commencing party is known as the Plaintiff and the responding party as the Defendant. In respect of interlocutory applications, the moving party is known as the Applicant and the responding party as the Respondent.
Forms and guides
Applications in corporations matters are usually commenced by using Form 2 in the Corporations Rules. Winding up applications in insolvency are commenced using Form 2, section C.
The Court has published a guide to assist practitioners and parties in this area of law. This guide relates to Judicial Registrar matters. The Guide for Practitioners and Parties in Corporations Matters listed Before a Judicial Registrar summarises the arrangements for corporations matters in a Judicial Registrar’s list in detail. This information is support by an information sheet and a checklist for a Winding Up Application.
Practice information
Dedicated information for this area of law is available on the Commercial and Corporations National Practice Area webpages. You will find links to judgments, practice notes, forms, papers and other related information.
Costs
Costs are dealt with Part 40 of the Federal Court Rules 2011.
In winding up matters heard by Judicial Registrars, the Court will normally expect the parties to be in a position to have the costs of the proceedings fixed in Court, rather than leave the setting of the amount to a later process (taxation). In fixing costs in Court, Judicial Registrars take as a guide the amount allowed for Short Form Bills in Part 40.41(1) & item 13 of Schedule 3 of the Federal Court Rules 2011.
At October 2016
