Trade Practices Commission v. British Building Society & Ors [1987] FCA 553

"t _¢ NUL et. DIS LRIBULLU..

IN THE FEDERAL COURT OF AUSTRALIA ) )

WESTERN AUSTRALIA DISTRICT REGISTRY ) NO. WAG 64 of 1986 ) )

GENERAL DIVISION

BETWEEN : TRADE PRACTICES COMMISSION Applicant AND: BRITISH BUILDING SOCIETY First Respondent AND: BONNEY NOMINEES PTY.LTD. Second Respondent AND: MICHAEL EDWIN BONNEY Third Respondent AND: ANDREW JOHN CAHILL Fourth Respondent AND: BUSINESS MEN'S ASSURANCE COMPANY OF AUSTRALIA LIMITED Fifth Respondent SPENDER J. = SPEND RECEIVED 21 SEPTEMBER, 1987. 22 0CT 1987

FEDERAL COURT OF AUSTRALIA

PRINCIPAL REGISTRY

British Building Society is a permanent building society

incorporated in Western Australia under the Buildin Societies

Act 1976 (W.A.).

2.

It admits breaching the provisions of s.47(1) of the Trade Practices Act 1974, in connexion with a scheme called "Guaranteed Low Interest Home Loan". Bonney Nominees Pty.Ltd., ("Bonney Nominees"), the second respondent, was responsible for providing managerial and other staff, which it employed, to conduct the business of the British Building Society and to provide management services to 1t. The third respondent, Mr. Bonney, was the Secretary/General Manager of the British Building Society and was one of the two Directors and the Manager and Company Secretary of Bonney Nominees, which was a medium-sized

private company which was the trustee of the Bonney Family Trust.

The fifth respondent, Business Men's Assurance Company of Australia Limited, ('B.M.A.'), 1s incorporated in the Australian Capital Territory amd carries on business as, inter alia, a life aimsurance company. In 1984, 1t appointed Bonney

Nominees its agent to solicit proposals for insurance policies

and to be its Managing Agent in Western Australia. Mr. Bonney signed that agreement on behalf of Bonney Nominees and Andrew Cahill, the fourth respondent, was appointed the nominated representative of Bonney Nominees. Mr. Cahill was employed by Bonney Nominees and, in addition to his function as the nominated representative of that company for B.M.A., was the Marketing and