THE STATE OF NEW SOUTH WALES v CITCO INDUSTRIES PTY LTD [2001] NSWCA 406

Reported Decision : 53 NSWLR 451

New South Wales Court of Appeal

CITATION : THE STATE OF NEW SOUTH WALES v CITCO INDUSTRIES PTY LTD [2001] NSWCA 406 FILE NUMBER(S) : CA 40231/01 HEARING DATE(S) : 2 November 2001 JUDGMENT DATE : 20 November 2001

THE STATE OF NEW SOUTH WALES PARTIES : v CITCO INDUSTRIES PTY LTD JUDGMENT OF : Hodgson JA at 1; Ipp AJA at 7; Rolfe AJA at 22

LOWER COURT JURISDICTION : District Court LOWER COURT DC 4662/99 FILE NUMBER(S) : LOWER COURT Balla DCJ JUDICIAL OFFICER :

COUNSEL : Miss N Abadee (Appellant) Mr R Colquhoun (Respondent) SOLICITORS : I V Knight, Crown Solicitor (Appellant) Peter Bruce Richardson, St Leonards (Respondent) CATCHWORDS : CONVEYANCING - Conveyancers Licensing Act 1995 - interpretation - Claim against Compensation Fund pursuant to s 38 Conveyancers Licensing Act 1995 (CL Act) - whether there was a "failure to account" within s 64G(1) Property, Stock and Business Agents Act 1941 by a licensee under the CL Act- whether money entrusted to licensee "in course of licensee's business as licensee" within s 64G(1) - whether work being carried out was "conveyancing work" within s 4 CL Act - whether work being carried out for purpose of "investing money otherwise than as provided by Div 2 of Part 3" within exclusion in s 4(3)(g) CL Act - tension between s 4(1) and s 4(3)(g) - whether distinction between "lending" and "investing" - whether, even if work being carried out not "conveyancing work", there was nevertheless an entrusting of money "to the licensee in the course of the licensee's business as a licensee" Conveyancers Licensing Act 1995 (NSW) LEGISLATION CITED : District Court Act 1973 (NSW) Property, Stock and Business Agents Act (1941) NSW Legal Profession Act 1987 (NSW) CASES CITED: n/a DECISION : Appeal dismissed with costs