Criminal law – Market manipulation – Corporations Act 2001 (Cth), s 1041A – Transactions alleged to have effect or likely effect of creating "artificial price" for shares on Australian Securities Exchange – Meaning of "artificial price" in s 1041A of the Corporations Act – Whether meaning of "artificial price" informed by United States of America conceptions of "cornering" and "squeezing".
Criminal procedure – Question of law arising before trial – Question of law referred to Court of Appeal – Case stated – Case stated set out facts which prosecution sought to prove at trial – Facts set out in case stated neither admitted nor proved – Whether question of law referred hypothetical.
Words and phrases – "artificial price", "case stated", "cornering", "genuine supply and demand", "market manipulation", "sole or dominant purpose", "squeezing".
Corporations Act 2001 (Cth) – ss 1041A, 1338B, 1338C.
Criminal Procedure Act 2009 (Vic) – ss 302, 305, 306.
Judgment date
Case number
M73/2012
Before
French CJ, Hayne, Crennan, Kiefel, Bell, Gageler, Keane JJ
Catchwords