Australian Securities & Investments Commission v Cash King Pty Ltd [2005] FCA 1429

FEDERAL COURT OF AUSTRALIA

Australian Securities & Investments Commission v Cash King Pty Ltd [2005] FCA 1429 TRADE PRACTICES – misleading or deceptive conduct in relation to financial services – false and misleading representations – declaratory relief sought in relation to conduct in contravention of ss 12DA and 12DB of the Australian Securities and Investments Commission Act 2001 (Cth) – requirement that Court must be satisfied on the evidence that declarations sought ought to be made – orders restraining first defendant from such conduct – consent orders providing for the Court to note the terms of an enforceable undertaking accepted by ASIC from the defendants in accordance with s 93AA of the Australian Securities and Investments Commission Act 2001 (Cth) – undertaking within the powers of ASIC to accept Australian Securities and Investments Commission Act 2001 (Cth), ss 12A, 12BAA, 12BAB, 12DA, 12DB, 12GD, 12GJ, 12GLA, 12GM, 13, 93AA Federal Court of Australia Act 1976 (Cth), s 21 Real Property Act 1900 (NSW), s 57 Australian Securities and Investments Commission Regulations 2001 (Cth), reg 2B

Australian Securities and Investments Commission v Edwards (2004) 51 ACSR 320 cited Australian Securities and Investments Commission v Rich (2004) 50 ACSR 500 cited Australian Securities and Investments Commission v Rich (No 2) (2003) 44 ACSR 682 cited Australian Securities and Investments Commission v Tower Australia Ltd [2003] FCA 660 applied Australian Competition and Consumer Commission v Woolworths (South Australia) Pty Ltd (2003) 198 ALR 417 applied BMI Ltd v Federated Clerks Union of Australia (1983) 51 ALR 401 applied Dean-Willcocks v Commissioner of Taxation (No 2) (2004) 49 ACSR 325 cited Australian Securities and Investments Commission v Cash King Pty Ltd and DANIEL SWART NSD 767 OF 2005 STONE J 12 OCTOBER 2005 SYDNEY