Australian Securities and Investments Commission v Manito Pty Ltd [2005] FCA 386

FEDERAL COURT OF AUSTRALIA

Australian Securities and Investments Commission v Manito Pty Ltd [2005] FCA 386 CORPORATIONS – Australian financial services licence – unlawful conduct of financial services business – contravention admitted by first and second defendants – whether third defendant knowingly concerned in contraventions – scope of third defendant's knowledge of the essential facts constituting the contraventions

Corporations Act 2001 (Cth) ss 761A, 764A(1)(g), 766A(1)(a), 766B(1), 911A, 1101B, 1311(1), 1324, 1324(1), 1324(1)(e), 1317S(2) Superannuation Industry (Supervision) Act 1993 (Cth) ss 10, 17A, 19

Briginshaw v Briginshaw (1938) 60 CLR 336 cited Edwards v R (1992) 173 CLR 653 cited Hamilton v Whitehead (1988) 166 CLR 121 cited Kennedy v Sykes (1992) 24 ATR 546 cited Natesan & Subramaniam v R (1996) 88 A Crim R 444 applied Yorke v Lucas (1985) 158 CLR 661 applied AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION v MANITO PTY LTD, STEVEN PRESTON and JAMES PAYNE WAD 190 of 2004 NICHOLSON J 8 APRIL 2005 PERTH

IN THE FEDERAL COURT OF AUSTRALIA

WESTERN AUSTRALIA DISTRICT REGISTRY WAD 190 OF 2004

BETWEEN: AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

PLAINTIFF

AND: MANITO PTY LTD

(ACN 103 407 656)

FIRST DEFENDANT

STEVEN PRESTON

SECOND DEFENDANT

JAMES PAYNE

THIRD DEFENDANT

JUDGE: NICHOLSON J

DATE OF ORDER: 8 APRIL 2005

WHERE MADE: PERTH

THE COURT ORDERS THAT: 1. The application is dismissed. 2. The plaintiff pay the third defendant's costs of the application. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.

IN THE FEDERAL COURT OF AUSTRALIA

WESTERN AUSTRALIA DISTRICT REGISTRY WAD 190 OF 2004