Bank of New South Wales v Commonwealth
Bank of New South Wales v The Commonwealth, also known as the Bank Nationalisation Case, is a decision of the High Court of Australia that dealt with the constitutional requirements for property to be acquired on "just terms", and for interstate trade and commerce to be free. The High Court applied an 'individual rights' theory to the freedom of interstate trade and commerce that lasted until 1988, when it was overturned in favour a 'free trade' interpretation in Cole v Whitfield.
| Bank of New South Wales v Commonwealth | |
|---|---|
| Court | High Court of Australia |
| Full case name | Bank of NSW & ors; Bank of Australasia & ors; Victoria; South Australia; and Western Australia (Plaintiffs) v Commonwealth; Treasurer of Australia; and Commonwealth Bank (Defendants) |
| Decided | 11 August 1948 |
| Citation(s) | [1948] HCA 7, (1948) 76 CLR 1 |
| Case history | |
| Subsequent action(s) | Commonwealth v Bank of New South Wales [1949] UKPC 37, [1950] AC 235; [1949] UKPCHCA 1, (1949) 79 CLR 497 |
| Court membership | |
| Judge(s) sitting | Latham CJ, Rich, Starke, Dixon, McTiernan and Williams JJ |
| Case opinions | |
| Nationalisation of private banking amounts to a violation of an individual right to engage in particular types of trading and commercial activity under s 92. Failure to provide for the provision of interest on compensation meant the acquisition of bank shares and business was not made on "just terms". | |
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