Australian Securities and Investments Commission v Australia and New Zealand Banking Group Limited [2023] FCA 256

Federal Court of Australia

Australian Securities and Investments Commission v Australia and New Zealand Banking Group Limited [2023] FCA 256 File number(s): VID 694 of 2021

Judgment of: O'BRYAN J

Date of judgment: 10 March 2023

Date of publication: 23 March 2023

Catchwords: CONSUMER LAW – admitted contraventions of ss 31(1), 47(1)(a) and 47(1)(e) of the National Consumer Credit Protection Act 2009 (Cth) – pecuniary penalties sought by applicant not opposed by respondent – whether form of declarations appropriate – whether quantum of penalties appropriate

Legislation: Australian Securities and Investments Commission Act 2001 (Cth), s 12GBA Competition and Consumer Act 2010 (Cth) Corporations Act 2001 (Cth), ss 912A, 1317E Crimes Act 1914 (Cth), s 4AA Crimes Amendment (Penalty Unit) Act 2017 (Cth), Sch 1, items 1 and 3 Crimes Legislation Amendment (Penalty Unit) Act 2015 (Cth), Sch 1, items 2 and 5 Federal Court of Australia Act 1976 (Cth), ss 21, 37AE, 37AF, 37AG, 43 National Consumer Credit Protection Act 2009 (Cth), ss 5, 6, 7, 8, 9, Ch 2, ss 29, 31, 47, 110, 166, 167, 324, Sch 1 (National Credit Code) National Consumer Credit Protection Regulations 2010 (Cth), reg 25

Cases cited: Australian Building and Construction Commissioner v Construction, Forestry, Mining and Energy Union (2017) 254 FCR 68 Australian Building and Construction Commissioner v Pattinson [2022] HCA 13; 175 ALD 383 Australian Competition and Consumer Commission v Air New Zealand Ltd (No 12) [2013] FCA 533 Australian Competition and Consumer Commission (ACCC) v Cascade Coal Pty Ltd (No 1) [2015] FCA 607; 331 ALR 68 Australian Competition and Consumer Commission v Coles Supermarkets Australia Pty Ltd [2015] FCA 330; 327 ALR 540 Australian Competition and Consumer Commission v Construction, Forestry, Mining and Energy Union [2006] FCA 1730; ATPR 42-140 Australian Competition and Consumer Commission v Multimedia International Services Pty Ltd (2016) 243 FCR 392 Australian Competition and Consumer Commission v Reckitt Benckiser (Australia) Pty Ltd [2016] FCAFC 181; 340 ALR 25 Australian Competition and Consumer Commission v TPG Internet Pty Ltd (2013) 250 CLR 640 Australian Competition and Consumer Commission v Valve Corporation (No 5) [2016] FCA 741 Australian Competition and Consumer Commission v Yazaki Corporation (2018) 262 FCR 243 Australian Securities and Investments Commission v AMP Financial Planning Pty Ltd (No 2) [2020] FCA 69; 377 ALR 55 Australian Securities and Investments Commission v Australia and New Zealand Banking Group Ltd [2018] FCA 155 Australian Securities and Investments Commission v Australia and New Zealand Banking Group Ltd [2022] FCA 125 Australian Securities and Investments Commission v Australian Lending Centre Pty Ltd (No 3) (2012) 213 FCR 380 Australian Securities and Investments Commission v La Trobe Financial Asset Management Ltd [2021] FCA 1417 Australian Securities and Investments Commission v National Australia Bank Ltd [2020] FCA 1494 Australian Securities and Investments Commission v Warrenmang Ltd [2007] FCA 973; 63 ACSR 623 Australian Securities and Investments Commission v Westpac Banking Corporation (No 3) [2018] FCA 1701; 131 ACSR 585 Australian Securities and Investments Commission v Westpac Banking Corporation [2019] FCA 2147 Commonwealth v Director, Fair Work Building Industry Inspectorate (2015) 258 CLR 482 Computer Interchange Pty Ltd v Microsoft Corp (1999) 88 FCR 438 Construction, Forestry, Mining and Energy Union v Cahill [2010] FCAFC 39; 269 ALR 1 Construction, Forestry, Mining and Energy Union v De Martin & Gasparini Pty Ltd (No 3) [2018] FCA 1395 Flight Centre Ltd v Australian Competition and Consumer Commission (No 2) (2018) 260 FCR 68 Forster v Jododex Australia Pty Ltd (1972) 127 CLR 421 Hogan v Australian Crime Commission (2010) 240 CLR 651 Markarian v The Queen (2005) 228 CLR 357 Mayfair Wealth Partners Pty Ltd v Australian Securities and Investments Commission [2022] FCAFC 170 Minister for Immigration and Border Protection v Egan [2018] FCA 1320 Minister for Industry, Tourism and Resources v Mobil Oil Australia Pty Ltd [2004] FCAFC 72; ATPR 41-993 NW Frozen Foods Pty Ltd v Australian Competition and Consumer Commission (1996) 71 FCR 285 Re Chemeq Ltd; Australian Securities and Investments Commission v Chemeq Ltd [2006] FCA 936; 234 ALR 511 Rural Press Ltd v Australian Competition and Consumer Commission (2003) 216 CLR 53 Singtel Optus Pty Ltd v Australian Competition and Consumer Commission [2012] FCAFC 20; 287 ALR 249 Trade Practices Commission v CSR Ltd [1990] FCA 521; ATPR 41-076