AMP Financial Planning v Green [2004] NSWSC 1099

New South Wales Supreme Court

CITATION : AMP Financial Planning v Green [2004] NSWSC 1099 HEARING DATE(S) : 15 November 2004 JUDGMENT DATE : 15 November 2004 JURISDICTION: Equity JUDGMENT OF : Campbell J DECISION : Proceedings removed into Supreme Court

CATCHWORDS : PROCEDURE - transfer of proceedings under section 8(1) Jurisdiction of Courts (Cross-vesting) Act 1987 - proceedings in Industrial Relations Commission of New South Wales and related proceedings in Supreme Court of Queensland - Supreme Court proceedings begun to join those proceedings together Corporations Law LEGISLATION CITED : Industrial Relations Act 1996 Jurisdiction of Courts (Cross-vesting) Act 1987 Deutche Australia Ltd v Johnstone [2002] NSWSC 1241; (2002) 44 ACSR 147 CASES CITED : Lumby v Yorkshire-General Life Assurance Co Ltd [1978] 1 NSWLR 626 Resarta Pty Ltd v Finemore (2002) 55 NSWLR 320 AMP Financial Planning Pty Ltd - First Plaintiff PARTIES : AMP Life Limited - Second Plaintiff Gary Sydney Green - First Defendant Gary Green Pty Ltd - Second Defendant FILE NUMBER(S) : SC 6489/03 COUNSEL : J West QC; M Elliott - Plaintiffs M Wright, solicitor - Defendants SOLICITORS : Mallesons Stephen Jaques - Plaintiffs Malcolm J Wright - Defendants

IN THE SUPREME COURT OF NEW SOUTH WALES EQUITY DIVISION EQUITY LIST

CAMPBELL J

MONDAY 15 NOVEMBER 2004

6489/03 AMP FINANCIAL PLANNING PTY LTD & ANOR v GARY SYDNEY GREEN & ANOR JUDGMENT – Ex Tempore 1 HIS HONOUR: This is an application which is made by AMP Financial Planning Pty Ltd ("AMPFP") and AMP Life Limited ("AMP") under section 8(1) of the Jurisdiction of Courts (Cross-vesting) Act 1987. The application is neither consented to, nor opposed by, the defendants. It seeks the removal into this Court of proceedings which have been commenced in the Industrial Relations Commission of New South Wales. 2 Those proceedings were begun on 25 February 2002 by the defendants, who are Mr Green and a company through which he carried on business. Mr Green had been an agent of AMP, and had also been a representative of AMPFP. The agreement with AMP enabled him to sell insurance. The agreement with AMPFP enabled him to provide financial advice and sell investment products. AMP and AMPFP cancelled those agreements effective from 5 April 2002. They were cancelled pursuant to notice, and it was after that notice had been given that Mr Green and his company began the proceedings in the Industrial Relations Commission to which I have referred. 3 The agreement with AMPFP contains in it certain obligations on the part of Mr Green to comply with requirements set out in documents described as "the Compliance Manual", and "The AMP Code of Conduct current from time to time", as well as the Corporations Law, the various "Insurance Acts" and all other applicable laws. The agreement also contains an obligation on the part of, it seems, Mr Green and his company, to indemnify AMPFP against losses which it suffered as a direct or indirect consequence of, amongst other things: "(b) any breach of this agreement by You or the Agent; or (c) any breach of the Compliance Manual or the AMP Code of Conduct by You".