Talk & Insights
A warning to all SMSFs and private companies investing in unrelated trusts
Tue, 26 Oct 10The ATO has released a media warning to all self managed super funds (SMSFs) and private companies attempting to use their funds to invest in unrelated trusts with the intention of providing financial assistance to their members or shareholders, such as making those funds available to on-lend back to their members or shareholders.
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Case Reviews - October Issue
Thu, 14 Oct 10In the recent matter of Perpetual Trustees Victoria v English & Anor [2010] NSWCA 32, the Supreme Court of New South Wales was once again required to consider the enforceability of a registered mortgage that had been fraudulently executed by a co-owner.
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Changes to the Standard REIQ Contract
Fri, 1 Oct 10The REIQ and the Queensland Law Society have agreed to amendments to the standard House and Residential Land contract (the Contract) as a result of amendments to the Trade Practices Act 1974 (Cth).
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Case Review - September Issue
Tue, 14 Sep 10In the matter of Balanced Securities Limited v David Thomas [2010] QDC 337, Elliott May was successful in securing judgment on behalf of its financier client against a guarantor for the costs incurred in defending an unsuccessful action brought by a borrower after the loan had been repaid in full.
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The National Consumer Credit Protection Act 2009
Tue, 31 Aug 10Is your business suffering the consequences of missing the registration deadline under the National Consumer Credit Protection Act 2009 (the "Act")?
If you run an existing credit business and have missed the deadline for registration of 30 June 2010, you are required to cease the operation of that business until licensed. The licensing period closes 31 December 2010 and it may be the case that you will not be in a position to apply for your license until closer to this date.
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The importance of directors informing themselves of their company's financial position
Tue, 27 Apr 10The case of Cooper v Commissioner of Taxation [2009] NSWSC 880, is a useful illustration of the importance of directors ensuring that their company maintains proper financial records and that they inform themselves as to their company’s financial position.
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ASIC National Credit Roadshow
Wed, 24 Mar 10As we act for a large number of lenders and brokers, several members of our firm attended the national credit road show held by the ASIC at the Gold Coast International Hotel on 23 February 2010.
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ASIC releases update relating to short position reporting
Mon, 8 Mar 10On Friday, 5 March 2010 ASIC announced decisions made in relation to the following provisions introduced in the Corporations Amendment Regulations 2009 (No 8) (SR No 327 of 2009) (Short Selling Regulations).
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