Court relief RG 51.69 The court has some powers to grant retrospective relief. For example, under s1322 of the Corporations Act (upon the application of any interested person), the court may make orders about irregularities generally (i.e. validating acts and relieving persons from civil liability): see, for example, Elkington v. Vockbay Pty Ltd (1993) 10 ACSR 785. The court also has power under s1318 of the Corporations Act to grant relief from liability to certain persons in civil proceedings to which that section applies and power under s183 of the National Credit Act to grant relief from liability for contravention of civil penalty provisions. RG 51.70 The court’s retrospective powers and a few express grants of power to give retrospective relief confirm that ASIC’s role is generally restricted to giving relief from prospective breaches of the Corporations Act and the National Credit Act.
And this is why it is in Court to obtain retrospective relief.
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