Wright v Australian Prudential Regulation Authority [2024] FCA 183

Wright v Australian Prudential Regulation Authority [2024] FCA 183

Having regard to the circumstances in which the disqualification occurred, Mr Wright's character and conduct since the disqualification, the nature, purpose and size of the proposed SMSF, the unlikelihood of further contraventions, and the minimal risk to third-party interests, the Court was satisfied that Mr Wright's disqualification should be revoked and removed from the APRA Disqualification Register.

Jurisdiction
Australia
Judgment Date
05 March 2024
Procedural Posture
Application Under S 126 J of the Superannuation Industry (supervision) Act 1993 (cth) to Vary or Revoke Disqualification as a Trustee or Responsible Officer / Determined on the Papers
Outcome
Application granted; Mr Wright's disqualification was revoked and APRA was ordered to remove his disqualification listing from the APRA Disqualification Register. Each party bears its own costs of the application.
Legal Topics
['revocation of Disqualification' 'self Managed Superannuation Fund Registration' 'apra Disqualification Register' 'trustee or Responsible Officer Disqualification']
['superannuation' 'administrative Law' 'regulator and Consumer Protection'] ['revocation of Disqualification' 'self Managed Superannuation Fund Registration' 'apra Disqualification Register' 'trustee or Responsible Officer Disqualification']

Case Brief

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Procedural Posture

Application Under S 126 J of the Superannuation Industry (supervision) Act 1993 (cth) to Vary or Revoke Disqualification as a Trustee or Responsible Officer / Determined on the Papers

Legal Issues

  1. 1 ["Whether Mr Wright's disqualification as a trustee or responsible officer under the Superannuation Industry (Supervision) Act 1993 (Cth) should be revoked." "Whether Mr Wright's disqualification listing should be removed from the APRA Disqualification Register."]

Ratio Decidendi

Having regard to the circumstances in which the disqualification occurred, Mr Wright's character and conduct since the disqualification, the nature, purpose and size of the proposed SMSF, the unlikelihood of further contraventions, and the minimal risk to third-party interests, the Court was satisfied that Mr Wright's disqualification should be revoked and removed from the APRA Disqualification Register.

Court Disposition

Application granted; Mr Wright's disqualification was revoked and APRA was ordered to remove his disqualification listing from the APRA Disqualification Register. Each party bears its own costs of the application.

Orders

  • ['Pursuant to s 126J(1)(a) of the Superannuation Industry (Supervision) Act 1993 (Cth), the disqualification of Mr James Hebden Wright made on 16 January 2004 pursuant to s 120A(1) of the SIS Act be revoked.' "The Australian Prudential Regulation Authority remove Mr James Hebden Wright's disqualification listing...