Monthly Archives: August 2013
FUNDS MANAGEMENT & FINANCIAL SERVICES Alert: Court overturns decision about use of responsible entity’s ‘natural person’ powers
29 August 2013
In October 2012, we reported on the decision in
Australian Securities And Investments Commission V Wellington Capital Ltd and Others (2012) 91 ACSR 514 which involved the demerger of assets from the Premium Income Fund (PIF), managed by Wellington Capital Limited (Wellington).
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FUNDS MANAGEMENT & FINANCIAL SERVICES Alert: Scheme constitutions: ASIC updates its policy
28 August 2013
The Australian Securities and Investments Commission (ASIC) has completed its review of its policy on the content requirements for the constitutions of registered schemes by releasing an updated version of Regulatory Guide 134
Managed investments: Constitutions (RG 134).
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ASIC has increased the financial requirements for custodians and trustees of wholesale managed investment schemes. ASIC class order 13/761 Financial requirements for custodial or depository service providers (CO 13/761) and ASIC’s updated regulatory guide 166 Licensing: Financial requirements (RG 166) contain the changes.
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In Jordan v HLB Mann Judd Wealth Management (NSW) Pty Ltd, a single judge of the Federal Court dismissed an application against a financial planner for negligence and misleading and deceptive conduct relating to recommendations to invest in two Basis Capital funds which ultimately failed.
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Welcome to the August 2013 edition of Thomsons' quarterly snapshot of legal developments in the funds management and financial services sector.
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These standards came into force on 1 July 2013 substantially in accordance with the analysis contained in previous editions of Charities Alert. They are compulsory compliance for all charities that are registered entities under the Australian Charities and Not for Profits Commission Act 2012 (Cth) (ACNC Act).
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Thomsons has advised Domino's Pizza Enterprises Limited on the acquisition of a 75% equity interest in Domino's Pizza Japan (DPJ) and joint venture with the seller, Bain Capital.
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Thomsons has acted for Singapore premium property developer Hiap Hoe Limited on its acquisition of a 3,795sqm waterfront site at 6-22 Pearl River Road in Melbourne.
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An overview on what's been happening in the gaming and leisure industry this month.
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CONSTRUCTION Alert: Reference dates not bankable under Security of Payment Legislation
1 August 2013
The recent New South Wales Supreme Court decision of Stevenson J in Hill v Halo Architectural Design Services Pty Ltd [2013] NSWSC 865 held that it is not possible for claimants to “bank” reference dates under the New South Wales security of payment legislation.
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