Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Smith v Australian Prudential Regulation Authority [2017] FCA 807 File number: NSD 1909 of 2016
Judge: NICHOLAS J
Date of judgment: 19 July 2017
Catchwords: INSURANCE – application to revoke or vary disqualification under s 26 of the Insurance Act – whether disqualification continues to be justified – relevant considerations – length of disqualification to date – applicant's remorse and recognition of wrong-doing – APRA's assessment of future prudential risk and whether applicant likely to pose a prudential risk in the future – disqualification revoked with effect from date of order
Legislation: Insurance Act 1973 (Cth), ss 25A, 26(1)(a) Financial Sector Legislation Amendment (Review of Prudential Decision) Act 2008 (Cth)
Cases cited: Australian Broadcasting Tribunal v Bond (1990) 170 CLR 321 Burroughs v Australian Prudential Regulatory Authority (2016) 246 FCR 38
Date of hearing: 15 March 2017
Registry: New South Wales
Division: General Division
National Practice Area: Commercial and Corporations
Sub-area: Commercial Contracts, Banking, Finance and Insurance
Category: Catchwords
Number of paragraphs: 51
Counsel for the Applicant: Mr S Rushton SC with Mr A Byrne
Solicitor for the Applicant: Clyde & Co
Counsel for the Respondent: Mr PS Braham SC with Mr BK Lim
Solicitor for the Respondent: Mr Ben Carruthers
ORDERS NSD 1909 of 2016
BETWEEN: JOHN ANDREW SMITH Applicant
AND: AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY Respondent
JUDGE: NICHOLAS J DATE OF ORDER: 19 July 2017
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