General

Codes of conduct

Codes of conduct need to remain in step with on-going changes in the commercial and business worlds in which they operate.  Otherwise they lose their relevance and purpose. That could then lead to a point where compliance with a Code is found to be contrary …

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General

Keay – phoenix reforms

It is good to see that that several reform issues raised in my and Jason Harris’ textbook, Keay’s Insolvency, appear in the government’s anti-phoenix paper – as to a government liquidator, and funding of liquidators; dealing with abandoned companies; a focus on preventive rather than …

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Surveillance /səˈveɪl(ə)ns/

“close observation, especially of a suspected spy or criminal”: Oxford Dictionary. In relation to professional and industry regulation, as relevant, a website count of the regulators’ use of the term “surveillance” shows these numbers: AFSA                          3 ATO                           29 FMA NZ               …

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The new insolvency laws – their benefits

The changes effected by the Insolvency Law Reform Act 2016 are now law with some parts having commenced on 1 March 2017 with the remainder on 1 September 2017. Any new law causes some disruption but it can also serve to clean out some of the …

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The fine print in an ASIC form

With Australia’s new insolvency laws commencing this Friday 1 September, there is a late flurry of activity from the legislature to tidy up the Acts, Schedules, Rules and Regulations that will now apply; from the Courts in updating their rules and processes; and from the …

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Insolvency practitioner regulation – New Zealand & Australia

Comparing NZ insolvency law with Australia’s, in preparation for the BFSLA conference this week on 1 September 2017, the day that Australia’s new insolvency laws commence, reveals some interesting comparisons in how practitioners are respectively regulated, and at what cost. For example, NZ proposes a …

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General

Managed Investment Schemes – proposed reforms

The problems with managed investments schemes (MIS) have been well documented in recent times. A 2016 Senate Report into Agribusiness MIS addressed the collapse of many such schemes resulting in ‘inexperienced investors [losing] not only their investment and prospects of future income but [being] also …

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