Materiality: binary vs balancing exercise

Federal Court (Full Court): As mentioned in previous articles, at least 4 single-judge Federal Court decisions are authorities for the proposition that the materiality test expounded by the High Court in Hossain should not be treated as binary in nature. Now, the Full Court has said something which "might" be interpreted as treating the materiality test as binary. If that is the case, we respectfully disagree and explain why.

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