Australian Securities & Investments Commission, in the matter of Money for Living (Aust) Pty Ltd (Administrators Appointed) v Money for Living (Aust) Pty Ltd (Administrators Appointed) (No 2) [2006] FCA 1285

FEDERAL COURT OF AUSTRALIA

Australian Securities & Investments Commission, in the matter of Money for Living (Aust) Pty Ltd (Administrators Appointed) v Money for Living (Aust) Pty Ltd (Administrators Appointed) (No 2) [2006] FCA 1285

CORPORATIONS – financial investment – meaning of – misrepresentations in relation to TORRENS – tenant in possession – whether includes life tenant

Australian Securities and Investments Commission Act 2001 (Cth), ss 12BAA, 12BAA(4), 12BAB(1), 12BAB(5), 12DA, 12DB, 12DC Corporations Act 2001 (Cth), s 1014H Transfer of Land Act 1958 (Vic), s 42(2)(e) Australian Softwood Forests Pty Ltd v Attorney-General (NSW) (1981) 148 CLR 121 applied Burke v Dawes (1938) 59 CLR 1 applied Downie v Lockwood [1965] VR 257 applied Futuretronics International Pty Ltd v Gadzhis [1992] 2 VR 217 followed McMahon v Swan [1924] VLR 397 cited Robertson v Keith (1870) 1 VLR(E) 11 cited The Commercial Bank of Australia Limited v McCaskill (1897) 23 VLR 10 cited AUSTRALIAN SECURITIES & INVESTMENTS COMMISSION v MONEY FOR LIVING (AUST) PTY LTD (ADMINISTRATORS APPOINTED), MFL PROPERTY HOLDINGS PTY LTD (ADMINISTRATORS APPOINTED), STEPHEN MARK O'NEILL, GARY DENNIS O'NEILL AND JOLANTA SIMONE OLSZEWSKI VID 1304 of 2005

FINKELSTEIN J

29 SEPTEMBER 2006

MELBOURNE IN THE FEDERAL COURT OF AUSTRALIA

VICTORIA DISTRICT REGISTRY VID 1304 of 2005

IN THE MATTER OF MONEY FOR LIVING (AUST) PTY LTD (ADMINISTRATORS APPOINTED) AND OTHERS BETWEEN: AUSTRALIAN SECURITIES & INVESTMENTS COMMISSION

Plaintiff

AND: MONEY FOR LIVING (AUST) PTY LTD (ADMINISTRATORS APPOINTED) (ACN 107 611 218)

MFL PROPERTY HOLDINGS PTY LTD (ADMINISTRATORS APPOINTED) (ACN 111 105 125)

STEPHEN MARK O'NEILL

GARY DENNIS O'NEILL

JOLANTA SIMONE OLSZEWSKI

Defendants

JUDGE: FINKELSTEIN J