Application of MLC Investments Limited (ACN 002 641 661) [2022] NSWSC 1541

Supreme Court New South Wales

Medium Neutral Citation: Application of MLC Investments Limited (ACN 002 641 661) [2022] NSWSC 1541 Hearing dates: 8 November 2022 Date of orders: 8 November 2022 Decision date: 10 November 2022 Jurisdiction: Equity - Commercial List Before: Stevenson J Decision: Consent given pursuant to s 249E of the Crimes Act 1900 (NSW) Catchwords: EQUITY – trust and trustees – managed investment schemes – where plaintiff seeks to retire as the responsible entity and trustee of the schemes – where application made by plaintiff for Supreme Court consent pursuant to s 249E of the Crimes Act 1900 (NSW) and similar provisions in other state jurisdictions to the soliciting and receiving, and the offering and giving, of a benefit as an inducement or reward for the appointment of a person to be a person entrusted with the trust property Legislation Cited: Court Suppression and Non-Publication Orders Act 2010 (NSW) Crimes Act 1900 (NSW) Crimes Act 1958 (Vic) Criminal Code Act 1899 (Qld) Criminal Code Act Compilation Act 1913 (WA) Interpretation Act 1987 (NSW) Jurisdiction of Courts (Cross-vesting) Act 1987 (NSW) Jurisdiction of Courts (Cross-vesting) Act 1987 (Qld) Jurisdiction of Courts (Cross-vesting) Act 1987 (Vic) Jurisdiction of Courts (Cross-vesting) Act 1987 (WA) NSW Trustee and Guardian Act 2009 (NSW) Supreme Court Act 1970 (NSW) Cases Cited: BT Funds Management Limited (ACN 002 916 458) as trustee for the Retirement Wrap Superannuation Fund [2022] NSWSC 401 H.E.S.T Australia Ltd (in its capacity as trustee for the HESTA Superannuation Fund) v Attorney-General (Qld); Mercy Super Pty Ltd v Attorney-General (Qld) [2022] QSC 221 He Kaw Teh v The Queen (1985) 157 CLR 523; [1985] HCA 43 Mehajer v R [2014] NSWCCA 167 Morice v Bishop of Durham (1804) 9 Ves Jun 399 Palmer v Ayres; Ferguson v Ayres (2017) 259 CLR 478; [2017] HCA 5 Texts Cited: A Silink, "Corrupt benefits for trustees – Is the presumption of mens rea rebutted in s 249E of the Crimes Act 1900 (NSW), and if not, what is the mens rea to be implied?" (2022) University of New South Wales Law Research Series 20 M S Donald, "Playing ball with s 249E of the NSW Crimes Act 1900" (2022) 33 Australian Superannuation Law Bulletin 91 New South Wales Legislative Assembly, Parliamentary Debates (Hansard), 26 May 1987 Victorian Legislative Assembly, Parliamentary Debates (Hansard), 25 July 2015 Category: Principal judgment Parties: MLC Investments Limited (ACN 002 641 661) (Plaintiff) Representation: Counsel: A Smith (Plaintiff)