Walker v Members Equity Pty Ltd (formerly Members Equity Bank Ltd) [2024] FCA 15

Federal Court of Australia

Walker v Members Equity Pty Ltd (formerly Members Equity Bank Ltd) [2024] FCA 15 File number: VID 278 of 2021

Judgment of: BROMWICH J

Date of judgment: 19 January 2024

Catchwords: CONSUMER LAW – Criminal Law – defendant charged with summary criminal offences contrary to s 12GB(1) of the Australian Securities and Investments Commission Act 2001 and ss 64(1) and 65(1) of the National Credit Code within Schedule 1 of the National Consumer Credit Protection Act 2009 (Cth) – where the defendant has pled guilty to all charges – determination of appropriate penalties – held: defendant convicted on all charges and fined a total of $820,000.

Legislation: Australian Securities and Investments Commission Act 2001 (Cth) s 12GB(1) Corporations Act 2001 (Cth) s 912D Crimes Act 1914 (Cth) ss 16A(1), 16A(2)(ja) National Consumer Credit Protection Act 2009 (Cth) s 53 National Consumer Protection Act 2009 (Cth) Sch 1, Credit Code, ss 64(1), 65(1)

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 Australia and New Zealand Banking Group Ltd [2022] FCA 1251; 164 ACSR 428 Australian Securities and Investments Commission v Australia and New Zealand Banking Group Ltd [No 3] [2020] FCA 1421 Australian Securities and Investments Commission v BT Funds Management Ltd [2021] FCA 844 Barbaro v The Queen [2014] HCA 2; 253 CLR 58 R v Glynatsis [2013] NSWCCA 131; 230 A Crim R 99 R v Shawn Darrell Richard [2011] NSWSC 866 Ungureanu v The Queen [2012] WASCA 11; 272 FLR 84