Australian Securities and Investments Commission v Park Trent Properties Group Pty Ltd (No 3)

[2015] NSWSC 1527

Supreme Court of NSW

Built by Barristers,
For Australian Law.

1. CORPORATIONS LAW — whether defendant contravened s 911A(1) of the Corporations Act 2001 (Cth) by carrying on a financial services business without a financial licence — defendant sold investment properties on commission — defendant’s marketing strategy incorporated advice about establishing self managed superannuation funds (SMSFs) and using SMSFs to purchase investment properties — advice included projections as to the returns that could be achieved through SMSFs — whether the defendant made recommendations or stated opinions as to beneficial interests in SMSFs — whether recommendations and opinions were intended to influence decisions in relation to financial products
1. REMEDIES — whether declaratory and injunctive relief should be granted in respect of contravention of s 911A(1) of the Corporations Act 2001 (Cth) — form of declaration and restraining order.