Details

Autor(en) / Beteiligte

• James Ye

Titel

Applying a 'Cassimatis'-lens to the directors of the trustees of managed investment schemes and superannuation funds

Ist Teil von

• Australian journal of corporate law, 2024-03, Vol.39 (2), p.219-248

Erscheinungsjahr

2024

Link zum Volltext

Beschreibungen/Notizen

• Contemporary corporate law scholarship and recent judicial opinions have commented extensively on the public aspects of the familiar statutory duties found in sections 180-4 of the 'Corporations Act 2001' (Cth). This article draws on that wealth of material, particularly Edelman J's decision in 'Australian Securities and Investments Commission v Cassimatis (No 8)', to analyse the 'publicness' of the separate statutory duties imposed on directors of corporate trustees who manage registered managed investment schemes, and superannuation funds. This analysis highlights many public aspects of the 'fund duties', including provisions for public enforcement, public sanctions, and increased standing rights for private litigants. The text, context, and purposes of the 'fund duties' also reveal potential to further develop the duties in line with public expectations. For now, though, this article argues the 'fund duties' are at least as 'public' as the duties in sections 180-4.