Burroughs v Australian Prudential Regulatory Authority [2016] FCA 775

FEDERAL COURT OF AUSTRALIA

Burroughs v Australian Prudential Regulatory Authority [2016] FCA 775 File number: NSD 218 of 2016

Judge: ALLSOP CJ

Date of judgment: 24 June 2016

Catchwords: INSURANCE–application to revoke or vary a disqualification under s 26 of the Insurance Act –transitional provisions following amendments to insurance regime in 2008– when a disqualification continues to be justified–overview of court-based disqualification regime– history of prudential regulation in Australia–protective purposes of insurance regime––insight into past wrongdoing– role of APRA within insurance industry– weight given to opinion of APRA on an applicant's disqualification PRACTICE AND PROCEDURE–filing of accurate affidavit evidence–importance of keeping records of legal proceedings in the context of a disqualification–purpose of character references for an application under s 26

Legislation: Financial Sector Legislation Amendment (Review of Prudential Decisions) Act 2008 (Cth), Item 21 of Sched 1 General Insurance Reform Act 2001 (Cth) Insurance Act 1973 (Cth) ss 2A, 25, 25A 26, 32

Cases cited: Aston v Irvine [1955] HCA 53; 92 CLR 353 Australian Broadcasting Tribunal v Bond [1990] HCA 33; 170 CLR 321 Burroughs v Australian Prudential Regulation Authority [2007] AATA 1960 Pasini v United Mexican States [2002] HCA 3; 209 CLR 246 Precision Data Holdings Ltd v Willis [1991] HCA 58; 173 CLR 167 R v Commonwealth Court of Conciliation and Arbitration; Ex parte Barrett [1945] HCA 50; 70 CLR 141 R v Trade Practices Tribunal; Ex parte Tasmanian Breweries Pty Ltd [1970] HCA 8; 123 CLR 361 R v Quinn; Ex parte Consolidated Food Corporation [1977] HCA 62; 138 CLR 1 Explanatory Memorandum, General Insurance Reform Bill 2001 (Cth) Explanatory Memorandum, Financial Sector Legislation Amendment (Review of Prudential Decisions) Bill 2008 (Cth)