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Is There a Need to Reform the Corporate Class Action Procedure in Australia?

Macquarie Journal of Business Law, Vol. 8, pp. 134-160, 2011

27 Pages Posted: 9 Feb 2012 Last revised: 8 Jun 2017

Lang Thai

School of Law, Deakin University

Date Written: 2011

Abstract

This article argues for a need to reform the corporate class action procedure in Australia. The reason is that the statutory procedure for an 'opt out' class action is beginning to appear more like an 'opt in' class action. The confusion relates to the poor drafting of Part IVA of the Federal Court of Australia Act 1976, which contains the class action procedure. The involvement of a commercial litigation funder has also contributed to the complexity in the interpretation of the law. The article provides a review of why s.33J and s.33E are conceptually difficult to apply. It highlights the key areas that require legislative amendments in order for the class action procedure to operate more effectively.

Keywords: corporate class action procedure in Australia, 'opt out' mechanism, Federal Court of Australia Act, commercial litigation funding

Suggested Citation

Thai, Lang, Is There a Need to Reform the Corporate Class Action Procedure in Australia? (2011). Macquarie Journal of Business Law, Vol. 8, pp. 134-160, 2011. Available at SSRN: https://ssrn.com/abstract=2001899

Lang Thai (Contact Author)

School of Law, Deakin University ( email )

221 Burwood Highway
Burwood
Burwood, Victoria 3125, Victoria 3125
Australia
+61 3 9244 6060 (Phone)

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