Does the westpoint litigation signal a revival of the ASIC section 50 class action? Austin, Janet Elizabeth en_US 2021-11-25T12:54:28Z 2021-11-25T12:54:28Z 2008 en_US
dc.description.abstract Section 50 of the Australian Securities and Investments Commission Act 2001 (Cth) confers a wide power on the Australian Securities and Investment Commission (ASIC) to bring civil action in the name of the company or a class action for shareholders or investors for the recovery of damages for corporate misconduct. Despite its broad scope, this power has been little used by ASIC. Until the recent Westpoint litigation it appeared that this trend seemed set to continue due to the recent growth in ASIC’s arsenal of enforcement powers, in particular the ability to bring proceedings seeking civil penalties, together with what promises to be a new age of private enforcement of shareholders rights through class actions funded by litigation funding corporations. In the context of this likely expansion of private enforcement action and the current legislative framework of ASIC’s enforcement powers, this article will examine when ASIC should bring civil action under this provision. en_US
dc.language English
dc.language.iso EN en_US
dc.rights CC BY-NC-ND 3.0 en_US
dc.rights.uri en_US
dc.source Legacy MARC en_US
dc.subject.other Class Actions en_US
dc.subject.other Corporations Act en_US
dc.subject.other Australian Securities and Investments Commission en_US
dc.subject.other Westpoint en_US
dc.subject.other public interest en_US
dc.subject.other Corporations and Associations law (390105) en_US
dc.subject.other Law Enforcement not elsewhere classified (390499) en_US
dc.title Does the westpoint litigation signal a revival of the ASIC section 50 class action? en_US
dc.type Journal Article en
dcterms.accessRights open access
dspace.entity.type Publication en_US
unsw.description.notePublic The Australian Journal of Corporate Law is published by LexisNexis, en_US
unsw.relation.faculty Business
unsw.relation.ispartofissue 1 en_US
unsw.relation.ispartofjournal Australian Journal of Corporate Law en_US
unsw.relation.ispartofpagefrompageto 8-30 en_US
unsw.relation.ispartofvolume 22 en_US
unsw.relation.originalPublicationAffiliation Austin, Janet Elizabeth, Business Law & Taxation, Australian School of Business, UNSW en_US School of Taxation & Business Law *
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