Australian Securities and Investments Commission v Australia and New Zealand Banking Group Limited (No 3) [2023] FCA 1565

Federal Court of Australia

Australian Securities and Investments Commission v Australia and New Zealand Banking Group Limited (No 3) [2023] FCA 1565 File number: VID 1153 of 2018

Judgment of: MOSHINSKY J

Date of judgment: 8 December 2023

Catchwords: CORPORATIONS – continuous disclosure – pecuniary penalty – where, in an earlier judgment, the Court found that the defendant had contravened s 674(2) of the Corporations Act 2001 (Cth) – where the maximum penalty at the relevant time was $1 million – consideration of applicable principles – consideration of appropriate penalty – held: penalty of $900,000 imposed

Legislation: Corporations Act 2001 (Cth), ss 674, 1317DA, 1317E, 1317F, 1317G Fair Work Act 2009 (Cth), s 546

Cases cited: Australian Building and Construction Commissioner v Pattinson [2022] HCA 13; 274 CLR 450 Australian Competition and Consumer Commission v Reckitt Benckiser (Australia) Pty Ltd [2016] FCAFC 181; 340 ALR 25 Australian Securities and Investments Commission v Austal Ltd [2022] FCA 1231 Australian Securities and Investments Commission v Chemeq Ltd [2006] FCA 936; 234 ALR 511 Australian Securities and Investments Commission v Newcrest Mining Ltd [2014] FCA 698; 101 ACSR 46 Australian Securities and Investments Commission v Rio Tinto Ltd (No 2) [2022] FCA 184 Australian Securities and Investments Commission v Sino Australia Oil and Gas Ltd (In Liq) [2016] FCA 1488; 118 ACSR 43 Commonwealth v Director, Fair Work Building Industry Inspectorate [2015] HCA 46; 258 CLR 482 NW Frozen Foods Pty Ltd v Australian Competition and Consumer Commission [1996] FCA 1134; 71 FCR 285 Trade Practices Commission v CSR Ltd [1990] FCA 762; [1991] ATPR ¶41-076