Monthly Archives: December 2011

ILN Today Post

Prospects For Development Of EB-5 Regional Centre To Sponsor Foreign Investment In The US Immigration Program

The EB-5 Program for lawful permanent residence is currently administered by US Citizenship and Immigration Services (USCIS). The Program has concurrent goals of immigration to the US through qualified investment into a commercial enterprise, and job creation for US, citizens or lawful residents. Investors receive conditional residency after taking the risk in a qualified investment of their own creation, or as part of a partnership or limited liability company in a regional centre. After two years of receiving such status, the investor may apply for a removal of conditional status at which time it must be shown that 10 qualifying full-time job positions per investor have been created, some direct, some indirect.

The required investment level is $1m unless the investment is made into a business located in a targeted employment area (unemployment rate that is 150 percent or more of national coverage), or a rural region (less than 20,000 population) or a troubled business enterprise (at least 20 percent decline in value over past 12 to 24 months), at which time a reduced investment of $500,000 is required.

To see the full article, please click here.

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But wait… there’s more! Government to explore options for extension of unfair contract terms to insurance

As consumers look to our Government to ‘guide us to thy perfect light’, the Productivity Commission, in its 2008 Review of Australia’s Consumer Policy Framework, recommended that new generic national consumer laws be implemented across all sectors of the economy.  This recommendation included national unfair contract terms (UCT) laws.   read more

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Guest Post: What Santa Claus Can Teach Us About Rainmaking

WIth the end of the year wrap-up, and still recovering from the stitches in my finger, I’m sharing another post from my friend and rainmaking expert, Jaimie Field, esq.  In 2009, she published this post, “What Santa Claus Can Teach You About Being a Great Rainmaker.”

So without further ado…

That jolly ol’ white-bearded, chubby guy in the red velvet suit with the fur trim is a better Rainmaker than you.  While his clients, children, may not be your target market, if you acquire his characteristics and take some on his abilities to bring in new clients and make them advocates for life, you can become the Rainmaker he is.

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ILN Today Post

PPS start date announced

On 13 December 2011 it was announced that the PPS regime will commence on Monday, 30 January 2012.  read more…
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A framework for charity regulation in Australia: Draft legislation establishing the Australian Charities and Not for Profits Commission released

Australian Charities and Not for Profits Commission (ACNC), which will commence operations on 1 July 2012.  At the same time, the ACNC Implementation Taskforce has also released a discussion paper seeking input on administrative issues including the content of approved forms and the ACNC website, and what education the ACNC should provide.  read more…

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ILN Today Post

Real Estate implications stemming from the new Personal Properties Securities Register

Currently, Australia has different laws and registers in each State and Territory for registering security over most types of personal property.  The Personal Property Securities (PPS) reform, which is likely to commence early in 2012, brings together the different Commonwealth, State and Territory laws and registers under one national system and introduces the online PPS Register.  read more…

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Life in the Fast (Track) lane – policy drafting and the shipyard dilemma Tropical Reef Shipyard Pty Ltd v QBE Insurance (Australia) Limited [2011] FCAFC 145

The recent decision of the Full Federal Court in Tropical Reef Shipyard Pty Ltd v QBE Insurance (Australia) Limited [2011] FCAFC 145 is the latest instalment in an ongoing saga over disputed loss calculation methods in Business Interruption (BI) policies.     read more

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Employee Benefits Alert: EBSA to re-propose rule on definition of fiduciary

On September 19, 2011, the U.S. Department of Labor (the “DOL”) announced that the Employee Benefits Security Administration (“EBSA”) will re-propose its rule on the definition of fiduciary. The DOL explained that the decision to re-propose this rule is in response to requests from the public, including members of Congress, that the agency allow an opportunity for more input on the rule, which expands the definition of fiduciary.

Background

The Employee Retirement Income Security Act (“ERISA”) provides that a person is a fiduciary with respect to a plan to the extent:

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NEW JERSEY APPELLATE COURT UPHOLDS IMMUNITY FOR HEALTH CARE ENTITY RESPONDING TO A REFERENCE REQUEST

by Daniel R. Levy

On December 1, 2011, the Superior Court of New Jersey, Appellate Division, affirmed dismissal of a whistle-blowing and defamation lawsuit based in part on application of the New Jersey Health Care Professional Responsibility and Reporting Enhancement Act. In Senisch v. Carlino, A-6218-09T3 (N.J. App. Div. Dec. 1, 2011), the court held that a health care entity which had reported negative, but truthful, information to another health care entity about a former health care professional’s termination of employment could not be liable for doing so.

In this case, the plaintiff was employed as a physician’s assistant in the cardiology department of Deborah Heart and Lung Center (“Deborah”).  Although the plaintiff had received favorable performance reviews in his first years of employment at Deborah, his 1999 performance evaluation was unfavorable, and Deborah later terminated his employment as a result of specifically stated performance deficiencies.  In 2001, he filed a lawsuit against Deborah alleging violations of New Jersey’s Conscientious Employee Protection Act (“CEPA”) and Law Against Discrimination (“LAD”).  Before trial, the case was settled.

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It’s beginning to look a lot like… the pre-Christmas (regulation) rush APRA releases latest consultation package re capital standards for insurers and the latest exposure drafts re the standard definition of flood

The Australian Prudential Regulation Authority (APRA) has released a response paper and 14 draft prudential standards in a third round of consultations on its review of capital standards for general and life insurers.  As discussed in our April 2011 update (see here), according to APRA, the aims of the review include improving the risk sensitivity of the standards and achieving better alignment across APRA-regulated industries.              read more

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