(1) In the context of s 1389(1), 'for' is used to mean 'in order to obtain'. The literal meaning of 'requirements of that Law [in order to obtain] the company's registration' extends to any 'requirement' whether it precedes, is incidental to, or directly forms part of, the process of registration. The relevant criterion of the section is merely that the requirements are for the company's registration. The relevant criterion is not the sequence or point at which any requirements arise in the process by which registration is obtained. Nor is the relevant criterion the nexus (incidental or direct) of the requirement with the registration.
(2) The construction is consistent with the evident purpose of s 1389(1) which is captured in the statement of Lord Cairns in Peel's case referred to earlier in these reasons. It is no hyperbole to describe the consequence of allowing any person to go back and enter into an examination of the circumstances attending registration which may, as here, be many years after the company has commenced trading as 'disastrous'. The company from registration is held out to the world as a legal person with whom third parties may deal so as to become members, creditors and counterparties to contractual or other arrangements.
(3) The construction is also consistent with the approach taken to similarly worded provisions that has prevailed in England and Australia for more than 150 years.
(4) There is no suggestion in the Explanatory Memoranda related to the legislation that introduced the relevant amendments to the provisions of the Corporations Law that there was any legislative purpose or intention to depart from the standard approach and to exclude matters preceding or incidental to the registration from the conclusive evidence provision.
(5) In any event, the change in the text between s 122 and s 1274(7A) made no substantive difference to the meaning or scope of the conclusive evidence provision. Section 122 used the expression 'all requirements of that Law in respect of: (i) registration of the body corporate as a company ... and (ii) matters preceding or incidental to the registration' (emphasis added). Section 1274(7A) used the expression 'all requirements of that Law for the company's registration' (emphasis added). Irrespective of whether a requirement in order to obtain registration under the Corporations Law (1995) was a requirement in respect of registration or a matter preceding or incidental to the registration, it meets the description of a requirement for registration.
(6) The construction for which the plaintiffs contend would, in substance, give effect to the reasoning in National Debenture that was obiter dictum and contrary to earlier English authority and has been disapproved and not followed in the Privy Council and not followed by at least one justice of the High Court. Departure from the standard approach would result in commercial uncertainty that amendments to the English legislation (replicated in Australian legislation) were intended to overcome.