Using SMPS regulation output current below nominal Current
The specs you quote are vague.  To be clear, you say they are:

&nbsp;&nbsp;300mA / DC9-16V
&nbsp;&nbsp;AC85-265

That could mean it's a constant-current supply with a compliance range of 9 to 16 V.  That could be appropriate, for example, for driving a particular string of LEDs.

On the other hand, it could mean that 300 mA is the maximum current this thing can put out.  In that case, it's saying that the output voltage is essentially unregulated, but will be from 9 to 16 V as long as other specs are met.  Those specs would include the line voltage and the current drawn from the output.

Given the wide AC input voltage range and the narrower DC output voltage range, I'm guessing this is a constant-current supply.  In other words, I think it's more likely the first case than the second.

You really need to go back to where you got this from and get more specs.  It should have been advertised as a "constant current" supply if the first case.