media release (16-357MR)

Federal Court declares 21st Century land banking schemes to be unlawful and bans Jamie and Dennis McIntyre for 10 years


The Federal Court has declared that land banking developments operated by Jamie and Dennis McIntyre were unregistered managed investment schemes in a decision delivered by His Honour Justice Bromwich on 17 October 2016. 

The Court also made orders that Jamie and Dennis McIntyre be disqualified from managing corporations and restrained from carrying on financial services for a period of 10 years each, due to them being officers of companies that had failed, by virtue of them being wound up, and which had also repeatedly contravened the Corporations Act .

Jamie and Dennis McIntyre agreed to the banning orders made against them.

Further, the Court made orders to wind up the unregistered managed investment schemes, which were promoted and advertised by the 21st Century land banking companies*.

The unregistered managed investment schemes are known as:

  • Botanica, located at 805 Archer Rd, Kialla, Victoria 3631
  • Secret Valley Estate, located at  955, Old Sydney Road, Bylands, Victoria 3762
  • Oak Valley Lakes Estate & Resort, located at 124 Booth Road, Brookhill, Townsville, Qld 4816
  • Bendigo Vineyard Estate & Resort, located at  51 Andrews Road, Bendigo, Victoria 3551
  • Melbourne Grove Estate, located at  1491 Dohertys Road, Mount Cottrell, Victoria 3024

Simon Wallace-Smith and Robert Woods of Deloitte have been appointed as joint liquidators of the unregistered managed investment schemes.

ASIC Commissioner Greg Tanzer said, 'The high banning periods ordered by the Court in this case are necessary to protect the public from those who are officers of companies that repeatedly contravene the Corporations Act.  It also serves as a warning to those involved in unlawful unregistered managed investment schemes, including those that involve land banking, that ASIC will take action.'

ASIC's investigation into the matter is ongoing.


ASIC commenced proceedings in August 2015 against Jamie and Dennis McIntyre and the 21st Century land banking companies in relation to their promotion and sale of interests to investors in five land banking schemes (Refer: 15-214MR).

ASIC’s proceedings are part of ASIC's wider and ongoing investigation into land banking schemes.

More information about ASIC's proceedings, including frequently asked questions

*Jamie McIntyre refers to his companies as the '21st Century Group'. 21st Century Group Pty Ltd (ACN 108 150 545) is not a defendant to the proceeding, and ASIC is not aware of any connection between 21st Century Group Pty Ltd and the defendants.

Editor's note 1:

On 28 October 2016, Justice Bromwich's Reasons for Judgment were published in Australian Securities and Investments Commission v McIntyre [2016] FCA 1276.

In his judgment, Justice Bromwich gave a stern warning to the McIntyre brothers, saying:

'It is apparent that both Mr Jamie McIntyre and Mr Dennis McIntyre are, at the very least, completely financially incompetent.  Unless they acquire new skills and the capacity for diligence and competence in the 10 years during which they are now disqualified and therefore banned from managing corporations (whether formally or informally) and in the 10 years that they are now prohibited from providing financial advice or dealing in financial products, each of them will be a menace to the investing public.  There is no evidence to suggest that such successful reform is likely.

In all the circumstances, any breach of the 10 year banning orders and 10 year injunctions will be likely to be treated as a very serious contempt of this Court, with a high risk of imprisonment.  That naturally extends to online activity, including websites which in any way hold either of Mr Jamie McIntyre and Mr Dennis McIntyre out, directly or indirectly, as carrying on a business related to, concerning or directed to financial products or financial services or providing services which entail providing financial product advice or dealing in financial products'.

Download a copy of Justice Bromwich's judgment.

If you believe that Jamie McIntyre or Dennis McIntyre are in breach of the Court's orders, please report this to ASIC.

Media enquiries: Contact ASIC Media Unit