The Australian Securities and Investments Commission alleges Mr Palmer encouraged his company Palmer Leisure Coolum to buy shares of another company that owned properties at his Sunshine Coast resort in 2012.

Under corporations law, Mr Palmer was required to make an offer within two months of announcing his intentions but failed to do so.

Palmer Leisure Coolum Pty Ltd has also been charged with proposing or announcing a bid then failing to make an offer within the required time.

Mr Palmer sought the Brisbane Supreme Court's intervention, claiming an abuse of process.

He argued there had been a delay in the proceedings and alleged authorities laying the charges had been influenced by the federal government and persuaded to prosecute him and his company for an improper purpose.

Justice Soraya Ryan ordered his claims be set aside.

"I find nothing exceptional about the plaintiffs' circumstances such as to warrant the interference in the criminal proceedings which they claim," she wrote in her judgment.

An application to the Magistrates Court to have the case dismissed on the grounds it was an abuse of court process was also previously refused.

Australian Associated Press