Australian Prudential Regulation Authority v Siminton [2006] FCA 140

FEDERAL COURT OF AUSTRALIA

Australian Prudential Regulation Authority v Siminton [2006] FCA 140 BANKING AND FINANCE – interlocutory orders – whether serious question to be tried that respondent carrying on banking business, or using words 'bank', banker' or 'banking' in relation to a financial business – whether balance of convenience favours grant of injunction – evidence of attempted flouting of previous order – whether assets should be frozen – whether funds should be available for living expenses and legal fees

Banking Act 1959 (Cth) ss 7, 8, 11, 66 Judiciary Act 1903 (Cth) s 78B Federal Court Rules O 40 r 8

AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY v DAVID ROBERT SIMINTON VID 1607 of 2005 GRAY J 10 JANUARY 2006 MELBOURNE

IN THE FEDERAL COURT OF AUSTRALIA

VICTORIA DISTRICT REGISTRY VID 1607 of 2005

BETWEEN: AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY

APPLICANT

AND: DAVID ROBERT SIMINTON

RESPONDENT

JUDGE: GRAY J

DATE OF ORDER: 10 JANUARY 2006

WHERE MADE: MELBOURNE

THE COURT ORDERS THAT: 1. Until the hearing and determination of the proceeding, or further order, the respondent, whether by himself, his servants or agents, be restrained from: (a) receiving money from members of the public by way of deposit in the Terra Nova Cache or the Principality of Camside; (b) assuming or using the words 'bank', 'banker' or 'banking', or any words or phrases of like import, in relation to his, their, or its business; (c) advertising, representing or stating that he, they or it will carry on banking business; (d) selling, transferring, dealing with, disposing of or otherwise encumbering or removing from Australia, or causing to be removed from Australia, any money (including, but not restricted to, cash), property or other assets he has, whether held alone, jointly, or in conjunction with others (including any accounts or property held in the name of the Principality of Camside or the Terra Nova Cache); (e) dealing with, withdrawing or disposing of, or giving any instructions in relation to the disposition or transfer of, all or part of the moneys standing to the credit of the respondent or his nominee in any account (whether held alone, jointly, or in conjunction with any other person, including any accounts or property in the name of the Principality of Camside or the Terra Nova Cache and any account in relation to which the respondent is a signatory or which the respondent otherwise has authority to operate, whether or not the respondent is named as an account holder and any account which may be operated for the benefit of the respondent, the Principality of Camside, or the Terra Nova Cache) in any bank, building society, or other financial institution and, without limiting the generality of the foregoing, account number 3162 1027 8861, in the name of Principality of Camside, with the Commonwealth Bank of Australia; (f) dealing with, withdrawing, disposing of, or giving any instructions in relation to the disposition or transfer of, any assets or moneys transferred to or received by Silverstone Global Investments ACN 109 672 095, or any of its subsidiaries or associates, from or on behalf of the respondent, the Principality of Camside, the Terra Nova Cache, or any client or purported client of the Terra Nova Cache; save that, with the consent in writing of the applicant, previously given, the respondent may do any of the things referred to in (d), (e) or (f) in the manner and for the purpose for which the applicant has so consented. 2. The respondent have liberty to apply, on two days' notice in writing to the applicant, supported by an affidavit as to his means, for an order that he be permitted to withdraw moneys for the purposes of paying his own living expenses or paying his legal expenses in relation to the proceeding. 3. Until the hearing and determination of the proceeding, the respondent ensure that there is published on the first page that a user views when he or she accesses: (a) any current, proposed or future internet site that uses the name 'Principality of Camside', 'Terra Nova Cache', or any derivation thereof; and