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Tuesday, June 20, 2006
Reform of personal property securitiesThere is a different system in each State of Australia for taking and registering security interests (including leases, hire purchase and retention of title arrangements) over most types of tangible and intangible personal property (including livestock, crops, intellectual property and receivables) ranging from motor vehicles and boats to liquor licences, water rights, taxis and gaming machines. But it now appears that a consensus exists for a unified national law and registry where "one form fits all". The Standing Committee of Attorneys-General has released an Options Paper (Pdf) for consultation.
Corporate and Financial Services Regulation Review.The time for submissions in respect of the Consultation Paper entitled Corporate and Financial Services Regulation Review, released by the Parliamentary Secretary to the Treasurer has closed. The paper covers the areas of financial services regulation, company reporting obligations, auditor independence, corporate governance, fundraising, takeovers, collective investments and dealing with regulators. It is expected that, following consultation new legislation will be introduced by the end of the year.
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