Storry v Department of Justice and Attorney-General - Office of Fair Trading

Ms Storry, a property agent, brought a review application before the Queensland Civil and Administrative Tribunal (QCAT) against the Office of Fair Trading (OFT) regarding decisions made under the Agents Financial Administration Act 2014 (Qld). The crux of the dispute was the OFT's issuance of directions to restrict Ms Storry's access to trust accounts associated with her business, SRE Pty Ltd, and ASRE, due to allegations of misapplication of trust money. These directions were made under section 42 of the AFA Act, which permits the OFT to intervene and manage trust accounts where there is suspicion of financial misconduct by agents.

The primary legal issue before QCAT was whether the OFT's decisions to restrict Ms Storry's control over the trust accounts were justified. The tribunal had to consider the statutory framework under which the OFT operated, the evidence presented regarding the financial transactions in question, and whether the OFT's actions were proportionate and lawful. Additionally, QCAT needed to determine whether the OFT's actions were supported by the evidence and adhered to the principles of natural justice.

QCAT confirmed the OFT's decisions, finding that the evidence substantiated the concerns about the misapplication of trust money. The tribunal reasoned that the OFT had acted within its statutory powers and that the measures taken were necessary to protect the interests of clients and the integrity of the financial administration by property agents. The tribunal also noted that the OFT's decisions were procedurally fair, given the circumstances and the information available at the time of the decisions.

The tribunal's decision upheld the OFT's actions, providing clarity on the scope of its powers under the AFA Act and reinforcing the importance of strict financial oversight in the property industry. The tribunal's ruling confirmed the OFT's directions, affirming the regulator's role in safeguarding client trust funds.