Culley v Australian Securities and Investments Commission

The respondents, Australian Securities and Investments Commission, brought proceedings against the appellants, Mr Culley and Ms Culley, for civil penalties and pecuniary penalties under the Corporations Act 2001. The proceedings were brought in relation to their involvement in a scheme that was designed to defraud the Australian Taxation Office. The Federal Court heard the appeal from the primary judgment of the Federal Court. The court was required to determine whether the primary judge erred in concluding that the appellants were involved in a contravention of the Corporations Act 2001, and whether the primary judge erred in the quantum of pecuniary penalties imposed on the appellants. The court found that the primary judge did not err in concluding that the appellants were involved in a contravention of the Corporations Act 2001. The court found that the primary judge did not err in the quantum of pecuniary penalties imposed on the appellants. The court held that the appeal should be dismissed.

ORDERS:
1. The appeal is dismissed.
2. On or before 6 November 2009 the parties file any agreed orders which they contend should be made having regard to the reasons for judgment. If the parties cannot agree on proposed orders, they are to file and serve minutes of any orders which they contend should be made.
Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.