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Thursday 27 May 2021

21-116MR Charges filed in the Federal Court against ME Bank

Following an ASIC investigation, criminal charges were filed against Members Equity Bank Limited (ME Bank) in the Federal Court of Australia on 25 May 2021.

These charges relate to alleged contraventions of sections 12DB(1)(g) and 12GB(1) of the Australian Securities and Investments Commission Act 2001 (Cth) and sections 64(1) and 65(1) of the National Credit Code (Cth), between 2 September 2016 and 3 September 2018.

The Court has not yet set a date for the first return of the matter. Further details will be released following that hearing.

The matter is being prosecuted by the Commonwealth Director of Public Prosecutions following a referral from ASIC.

Editor's note:

Members Equity Bank Limited appeared before the Federal Court in September 2021 - Read 21-249MR

Editor's note 2:

On 28 January 2022, the CDPP filed a Notice of appeal in the Federal Court on the grounds that the primary judge, in her judgment dated 15 December 2021, erred in construing s12GB(6) of the ASIC Act as requiring, in every case to which the section applies, a prosecution to be commenced within three years after the commission of an offence.

Last updated: 03/02/2022 10:23