Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Australian Securities and Investments Commission v SunshineLoans Pty Ltd (No 2) [2024] FCA 345 File number: QUD 190 of 2022
Judgment of: DERRINGTON J
Date of judgment: 12 April 2024
Catchwords: CONSUMER LAW – action by regulator under National Consumer Credit Protection Act 2009 (Cth) for contraventions of the National Credit Code – where respondent carries on business of providing small amount credit contracts – whether fee contained in small amount credit contracts permitted to be imposed under the National Credit Code – where fee described as an "amendment" or "rescheduled payment" fee – alleged contraventions of ss 24(1A)(a) and (b) of the National Credit Code and s 47(1)(d) of the National Consumer Credit Protection Act – hearing in relation to liability only – contraventions established CONSUMER LAW – standing and jurisdiction – whether the court has jurisdiction to consider the regulator's allegations – where it was submitted that the regulator lacked standing to enforce the civil penalty provisions contained in the National Credit Code through ss 166, 167 and 177 of the National Consumer Credit Protection Act – arguments rejected – no lack of standing or jurisdiction CONSUMER LAW – evidence – whether court permitted to make findings beyond individual loan files contained in evidence – where respondent made admissions as to the number of times the impugned fee was charged and accepted by it
Legislation: Acts Interpretation Act 1901 (Cth) Australian Securities and Investments Commission Act 2001 (Cth) Consumer Credit Legislation Amendment (Enhancements) Act 2012 (Cth) Corporations Act 2001 (Cth) Evidence Act 1995 (Cth) Federal Court of Australia Act 1976 (Cth) Financial Sector Reform Act 2022 (Cth) Judiciary Act 1903 (Cth) National Consumer Credit Protection Act 2009 (Cth) Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Act 2019 (Cth) Consumer Credit Legislation Amendment (Enhancements) Bill 2012 (Cth) National Consumer Credit Protection Bill 2009 (Cth)
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