Commonwealth v. Bank of New South Wales

(1949) 79 CLR 487, [1949] UKPC 37 (1949)

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Commonwealth v. Bank of New South Wales

Judicial Committee of the Privy Council
(1949) 79 CLR 487, [1949] UKPC 37 (1949)

Facts

Following the Second World War, the Australian Labour government under J.B. Chifely (defendant) sought to nationalize all private banks operating in Australia. The government achieved this goal through the enactment of the Banking Act of 1947, which nationalized all private banks while leaving Commonwealth and state banks unaffected by the act. The Bank of New South Wales (plaintiff), a private bank, sued the federal government in Australian courts. After a series of appeals, the Australian High Court found that the nationalization legislation violated § 92 of the Australian Constitution. The Australian High Court found that the nationalization of the private banks interfered with the absolute freedom of trade and commerce among the Australian states guaranteed under § 92 of the constitution. The federal government appealed the matter to the Privy Council in London, England.

Rule of Law

Issue

Holding and Reasoning (Lord Porter)

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