Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Casaclang v WealthSure Pty Ltd [2015] FCA 761 Citation: Casaclang v WealthSure Pty Ltd [2015] FCA 761
Parties: CAMILO CASACLANG, KATRINA CASACLANG, ANDREW GIBSON, JACQUELINE GIBSON, HETTIGE DON ROVILLE GOONASEKERA, MARIE ANTOINETTE KANTHI GOONASEKERA and TONI HEMMING IN HER CAPACITY AS EXECUTRIX OF THE ESTATE OF ALDEMIRA LUCEY v WEALTHSURE PTY LTD ACN 097 405 108
File number(s): NSD 169 of 2013
Judge(s): BUCHANAN J
Date of judgment: 27 July 2015
Catchwords: CORPORATIONS – financial services and markets – holder of an Australian financial services licence ("licensee") – authorised representative of a licensee – where authorised representative alleged to have contravened provisions in Parts 7.7, 7.9 and 7.10 of Chapter 7 of the Corporations Act 2001 (Cth) – where authorised representative alleged to have caused loss and damage to clients in negligence and breach of contract – whether conduct of authorised representative related to a "financial product" – whether investment by clients was provision of a "credit facility" within the definition of reg 7.1.06(1) of the Corporations Regulations 2001 (Cth) – whether licensee liable for conduct of authorised representative under Division 6 of Part 7.6 of the Corporations Act – whether licensee liable under s 769B of the Corporations Act for conduct of authorised representative having actual or apparent authority – whether licensee liable in negligence for conduct of former authorised representative after revocation of authorised status
Legislation: Australian Securities and Investments Commission Act 2001 (Cth) Competition and Consumer Act 2010 (Cth), Sch 2 Corporations Act 2001 (Cth), ss 79, 760A, 760B, 761A, 761E, 761E(1), 761G, 761G(1), 761G(9), 762C, 762C(b), 762C(c), 763A, 763A(1), 763A(1)(a), 763A(1)(c), 763B, 763B(a), 763B(a)(ii), 763B(b), 764A, 765A, 765A(1)(h)(i), 766A, 766A(1)(a), 766A(1)(b), 766B, 766B(1), 766B(3), 766C, 766C(1)(a), 766C(1)(b), 766C(1)(d), 766C(1)(e), 766C(2), 769B, 769B(1), 769B(2), 769B(3), 769B(7), 769B(10)(b), 769B(10)(c), 769C, 910A, 911A, 911A(1), 911B, 911C, 912A, 912A(1)(a), 912A(1)(aa), 912A(1)(c), 912A(1)(ca), 912A(1)(d), 912A(1)(h), 912B, 912B(1), 916A, 916A(1), 916A(4), 916F, 916F(1), 916F(3), 917A, 917A(1), 917A(1)(a), 917A(1)(b), 917A(1)(c), 917B , 917E, 917F, 917F(1), 917F(2), 917F(3), 917F(4), 944A, 944A(a)(ii), 944A(b), 945A, 945A(1), 947C, 947C(6), 947D, 952C, 952D, 952E, 953B, 953B(1)(a), 953B(2)(a), 953B(2)(c), 953B(3)(b), 1011A, 1011A(1), 1011B, 1012A, 1012A(1), 1013D, 1013E, 1022B, 1022B(1)(a), 1022B(2)(a), 1022B(4)(a), 1041E, 1041E(1)(a), 1041E(1)(b)(i), 1041E(1)(b)(ii), 1041E(1)(c), 1041E(1)(c)(i), 1041E(1)(c)(ii), 1041F, 1041F(1)(a), 1041F(1)(b), 1041F(2), 1041H, 1041H(1), 1041H(2)(a), 1041H(2)(b)(i), 1041I, 1041I(1), 1041I(1B)(a), 1041J, 1041L, 1041L(1), 1041L(2), 1041L(4), 1041S, 1041S(a), 1311(1) Corporations Regulations 2001 (Cth), regs 7.1.06(1)(a), 7.6.02AAA(1) Evidence Act 1995 (Cth), ss 55, 56, 97, 100, 135 Federal Court of Australia Act 1976 (Cth), s 33C Limitation Act 1969 (NSW), ss 14, 55(1), 55(3) LexisNexis Butterworths, Australian Corporations Legislation, 2010 edition
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