Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Australian Securities and Investments Commission v MyWealth Manager Financial Services Pty Ltd (No 3) [2020] FCA 1035 File number: QUD 707 of 2019
Judge: DERRINGTON J
Date of judgment: 22 July 2020
Catchwords: CORPORATIONS – managed investment scheme – winding up – whether scheme amounted to a managed investment scheme despite operators' intent not to carry out promised investment – scheme determined to exist and ordered to be wound up CORPORATIONS – persons operating unregistered managed investment scheme without authorisation under an Australian Financial Services Licence – persons engaged in providing financial services without authorisation – declarations and injunctions made
Legislation: Australian Securities and Investments Commission Act 2001 (Cth) s 13 Corporations Act 2001 (Cth) ss 19, 33, 286, 461(1)(k), 588FDA, 601ED, 763A, 764A, 766A, 766C, 911A, 1101B, 1324 Superannuation Industry (Supervision) Act 1993 (Cth) ss 17A, 17B
Cases cited: Australian Securities and Investments Commission v Arafura Equities Pty Ltd (2005) 56 ACSR 429 Australian Securities and Investments Commission v Atlantic 3 Financial (Aust) Pty Ltd [2006] QSC 132 Australian Securities and Investments Commission v Comcash Australasia Pty Ltd (2004) 59 ACSR 632 Australian Securities and Investments Commission v Emu Brewery Mezzanine Ltd (2004) 187 FLR 270 Australian Securities and Investments Commission v Enterprise Solutions 2000 Pty Ltd [2003] 1 Qd R 135 Australian Securities and Investments Commission v Hutchings (2001) 38 ACSR 387 Australian Securities and Investments Commission v Karl Suleman Enterprizes Pty Ltd (2003) 177 FLR 147 Australian Securities and Investments Commission v MyWealth Protection [2020] FCA 1034 Australian Securities and Investments Commission v Pegasus Leveraged Options Group Pty Ltd (2002) 41 ACSR 561 Australian Securities and Investments Commission v Takaran Pty Ltd (2002) 170 FLR 388 National Australia Bank Ltd v Norman (2009) 180 FCR 243
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