Australian Securities and Investments Commission v Zurich Australia Limited [2023] FCA 712

Federal Court of Australia

Australian Securities and Investments Commission v Zurich Australia Limited [2023] FCA 712 File number(s): NSD 1052 of 2022

Judgment of: JACKMAN J

Date of judgment: 28 June 2023

Catchwords: INSURANCE – application for substitution of parties – where the defendant transferred its life insurance business to the transferee pursuant to a scheme confirmed by the Court – whether the scheme operates to transfer liability under the Insurance Contracts Act 1984 (Cth) – terms of scheme sufficient to transfer liability – substitution orders made

Legislation: Acts Interpretation Act 1901 (Cth) s 2C Airports (Transitional) Act 1996 (Cth) Australian Securities and Investments Commission Act 2001 (Cth) s 8 Corporations Act 2001 (Cth) s 1101B Insurance Act 1973 (Cth) s 17G Insurance Contracts Act 1984 (Cth) ss 13, 75A, 75B Life Insurance Act 1995 (Cth) ss 190, 194, 195 Trade Practices Act 1974 (Cth) ss 52, 74 Workplace Relations Act 1996 (Cth) Federal Court Rules 2011 (Cth) r 9.11 Occupational Health and Safety Act 1983 (NSW) s 15

Cases cited: ACE Insurance Ltd v Trifunovski (No 2) [2012] FCA 793 Commonwealth v Fair Work Building Industry Inspectorate [2015] HCA 46; (2015) 258 CLR 482 Country Energy v Malone [2005] NSWIRComm 78; (2005) 138 IR 221 Deputy Commissioner of Taxation v Clyne (1984) 4 FCR 156 Kizon v Palmer (1997) 72 FCR 409 Mann v Paterson Constructions Pty Ltd [2019] HCA 32; (2019) 267 CLR 560 Noor Al Houda Islamic College Pty Ltd v Bankstown Airport Ltd [2005] NSWSC 20; (2005) 189 FLR 14 Re Cavell Insurance Co Ltd [2008] FCA 1984 Re OnePath Life Limited (No 2) [2022] FCA 811 Workers' Compensation Board (Q) v Technical Products Pty Ltd (1988) 165 CLR 642