Financial Services Publications
2010
May 2010
The New Personal Property Securities Law and Bailment Facilities - An Overview
In an earlier bulletin we reviewed the overall operation of the new uniform Federal personal property securities law that will take effect from 1 May, 2011 under the Personal Property Securities Act 2009 (PPSA). This bulletin examines the effect of the PPSA on bailment or ‘floor plan’ facilities.
March 2010
The New Personal Properties Securities Law - A Revolution Draws Near
From 1 May 2011, Australia will have a new and unified Federal law for the taking, registration and enforcement of security over virtually all kinds of property except land. The changes in the Personal Property Securities Act 2009 ('PPSA’) and its related legislation represent the most significant reforms ever in this area. In this bulletin we review the background and objectives of the new law.
2009
September 2009
Securing new debt by an existing charge - Octaviar appeal decision restores market practice
In this bulletin we review the decision by the Queensland Court of Appeal which has overturned the decision of McMurdo J in Re Octaviar Ltd; Re Octaviar Administration Pty Ltd [2009] QSC 37 and upheld the validity of a charge that secured liabilities under a ”transaction document”.
August 2009
National credit reform is just around the corner
The Bills to enact the National Consumer Credit Reform Package were introduced into Parliament on 25 June 2009 and changes to its timetable for implementation have been announced on 14 August 2009. Draft Regulations have also been released for public comment on 14 August 2009. In this bulletin we review the key features of the reform package.
April 2009
Real Property and Conveyancing Legislation Amendment Bill 2009
The Real Property and Conveyancing Legislation Amendment Bill 2009 was introduced into the NSW Parliament on 24 March 2009. In this Bulletin we look at a number of issues relating to title and the mortgage of property in NSW covered in this Bill.
2007
July 2007
Mortgage Duty Relief Arrives Early
The Government has introduced legislation to abolish mortgage duty 18 months in advance of the schedule established in last year’s budget. The new timetable will completely abolish mortgage duty from 1 July 2009 and also bestow two new staged exemptions from mortgage duty intended for mortgages that are associated with housing. In this bulletin we review the requirements for these extemptions.
2006
February 2006
Security interests in goods - important reforms commence on 1 March 2006
After a long period remaining uncommenced, the Security Interests in Goods Act 2005 ("SIGA") will finally commence on 1 March 2006. In this bulletin we will focus on the implications for security interests in non-agricultural goods governed by the Bills of Sale Act 1898.
2005
July 2005
Mortgage duty refinancing - the $1 million cap from 1 August 2005
The NSW Government has legislated to cap the mortgage duty refinancing concession to $1million from 1 August, 2005. This bulletin explains the changes and what this will mean for borrowers and lenders.
June 2005
Duties Act Amendments - Proposed duty on transfer of call options under put and call arrangements
In this bulletin we focus on the proposal to impose duty on transfer of call options under put and call arrangements.
2004
September 2004
The Code of Banking Practice. Dealing with guarantors - requirements from 1 June 2004
The focus of this summary is the revised Code of Banking Practice requirements in relation to disclosures that need to be made before a guarantee is taken.
February 2004
Important New Powers of Attorney Law for NSW - Commercial and Finance Implications
The new prescribed form of general and enduring power of attorney is more detailed than the existing form, and enables a principal to be more specific about the way the principal wants his or her affairs to be managed by the attorney. This bulletin sets out the implications in the commercial and financial context.
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