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Australia’s draft Insolvency Practice Rules 2016 – some issues

The draft Insolvency Practice Rules raise a few fundamental issues about due process – natural justice, professional body involvement, confidentiality and transparency, being covered by me at the Traill 4th National Bankruptcy Congress on 14 November 2016; and also about ordinary insolvency process – communications, …

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Joint insolvency regulat(ion)

The bankruptcy regulator, AFSA, has announced a new approach to its regulation of the 200 trustees in bankruptcy in Australia, focusing more on a trustee firm’s systems and controls and how or whether they serve to allow the trustee to meet the various legal and professional requirements. …

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Beneficial ownership of companies, and access to ASIC data

The government has invited us to “have our say” on what it says is “Australia’s first Open Government National Action Plan”, the draft plan being opened for public consultation on 31 October 2016.  This express the government’s “ambitions” in a number of worthwhile areas. A …

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More (and more) government inquiries

Two important Senate inquiries of 2014 and 2015 that lapsed at the election have been reinstated, but still with long reporting dates into 2017; and there is a new inquiry into ASIC’s enforcement powers. Many of these issues have been the subject of recommendations in earlier inquiries, with …

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