Obtaining evidence in relation to company litigation can be time-consuming and expensive.
If ASIC has conducted an investigation, it is helpful to obtain copies of its repoerts and evidence.
ASIC has released Information Sheet 181 Providing information and documents to private litigants (INFO 181) which explains when ASIC will provide non-public information and documents to private litigants, or people contemplating litigation.
INFO 181 covers:
- release of transcripts and books
- responding to subpoenas and summonses
- responding to discovery notices and notices to produce, and
- limitations on release of information, including legal limitations and the rights of third parties.
ASIC’s policy is that it will generally assist litigants by providing information and documents if requested, subject to:
- avoiding potential prejudice to its investigations
- any legal limitations on its ability to disclose confidential or private information
- the rights of third parties affected by the provision of information.
Information Sheet 180 sets out ASIC’s approach when deciding whether to become involved in private proceedings. This includes intervening as a party, or applying to appear as amicus curiae or ‘friend of the court’.
