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Abstract

This note is written to update the author's article 'The legal enforcement of stock exchange rules' published in (1995) Bond Law Review [7.2] This article analysed the operation and effect of stock exchange listing rules now that they have statutory significance under many sections of the Corporations Law including ss 777 and 1114. It was critical of the decisions of Beaumont J at first instance in Chapmans Ltd v Australian Stock Exchange Ltd (1994 and 1995), which had held inter alia that decisions made by the Australian Stock Exchange under the stock exchange listing rules are not subject to review under the Administrative Decisions (Judicial Review) Act 1977 (Cth). This decision has now been upheld on appeal by the Full Federal Court in Chapmans Ltd v Australian Stock Exchange Ltd (1996).

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