Australian Securities and Investments Commission v Hutchison [2020] FCA 978

FEDERAL COURT OF AUSTRALIA

Australian Securities and Investments Commission v Hutchison [2020] FCA 978 Appeal from: Hutchison and Australian Securities and Investments Commission [2018] AATA 3520

File number: WAD 469 of 2018

Judge: BANKS-SMITH J

Date of judgment: 13 July 2020

Catchwords: ADMINISTRATIVE LAW - appeal from Administrative Appeals Tribunal - conduct of authorised representative of Australian Financial Services licensee - where banning order made - whether conduct 'in relation to' financial product or financial service - whether Tribunal's construction of provisions including s 1041G and s 1041H of the Corporations Act 2001 (Cth) promotes the purpose or object of Chapter 7 ADMINISTRATIVE LAW - whether Tribunal failed to consider a clearly articulated claim - whether class of person who might be misled by authorised representative limited to consumer - whether constructive failure to exercise jurisdiction - whether denial of procedural fairness CORPORATIONS - financial services and market - object of Chapter 7 of the Corporations Act - where object includes promotion of fairness, honesty and professionalism by those who provide financial services - meaning of 'in relation to' in s 1041G and s 1041H - whether conduct must relate directly to the nature, quality or characteristic of the financial product or service and must impact consumer - whether indirect or less than substantial connection sufficient

Legislation: Acts Interpretation Act 1901 (Cth) s 15AA, 15AB, 15AD Administrative Appeals Tribunal Act 1975 (Cth) s 44 Australian Securities and Investments Commission Act 2001 (Cth) s 19, 12BAB Corporations Act 2001 (Cth) ss 760A, 760B, 761A, 766A, 766B, 912A, 916A, 920A, 920B, 1040A, 1041A, 1041B, 1041C, 1041G, 1041H, 1041J, 1317B Evidence Act 1995 (Cth) s 140