ASIC's power to prosecute for offences under the Corporations Act 2001 (Cth) derives from s 1315 of that Act and is not limited to cases where ASIC has first conducted an investigation under s 49 of the ASIC Act. A finding on the balance of probabilities in civil proceedings is not determinative of the same factual issue in criminal proceedings where proof beyond reasonable doubt is required, as the different standards of proof mean there is no identity of issues for issue estoppel purposes. Statements made by an accused during cross-examination of a prosecution witness are not evidence of the facts asserted.
The full text is available to signed-in members, including the 13 later cases that cite this judgment.
4 of the 13 citing cases carry a classified treatment. How each court treated it is available to signed-in members.