I present ASCA observations of IRAS00317-2142 , the most luminous ( L _ { x } \sim 10 ^ { 43 } { erg s ^ { -1 } } 0.1-2 keV ) of the ’ composite ’ class of galaxies . This enigmatic class of objects presents narrow-emission line optical spectra classifying these galaxies as star-forming on the basis of the diagnostic emission line ratios ; yet , the presence of weak H _ { \alpha } broad wings also suggests the presence of a weak or obscured AGN . The ASCA spectrum can be represented with a power-law with a photon index of \Gamma = 1.76 \pm 0.08 . Strong variability is detected ( by about a factor of three ) between the ROSAT and ASCA 1-2 keV flux . These characteristics clearly suggest an AGN origin for the X-ray emission . However , the precise nature of this AGN remains still uncertain . There is no evidence for a high absorbing column density above the Galactic . Moreover , there is no strong evidence for an Fe line at 6.4 keV , with the 90 per cent upper limit on the equivalent width being 0.9 keV . Thus the X-ray spectrum is consistent with an unobscured Seyfert-1 interpretation . This discrepancy with the optical spectrum , may be explained by either a strong star-forming component or a ’ dusty ’ ionised absorber . Finally , the possibility that IRAS00317-2142 may harbour a heavily obscured AGN where the X-ray emission is mainly due to scattered light , appears less plausible due to the high value of the f _ { x } / f _ { [ OIII ] } ratio which is more indicative of unobscured Seyfert-1 type AGN .