Welcome to the first issue of Hall & Wilcox’s quarterly newsletter for the Victorian Government, Public Law.
Decleah Investments Pty Ltd and Prince Removal and Storage Pty Ltd as Trustees for the PRS Unit Trust v FCT  FCA 717
Looking ahead to possible reforms: Identifying themes or trends arising from the second round of the Royal Commission
Possible law reforms are on the agenda following the conclusion of the second round of hearings of the Financial Services Royal Commission. We identify the trends arising from the Royal Commission and look at them in the context of other current law reform proposals in the financial services industry.
Mr Smith* loaned money to his son-in-law, Mr Green*, to help him fund the deposit to buy a home. In Mr Smith’s mind, he was helping his relative and, although Mr Green was the only person registered on title, Mr Smith also regarded himself as a co-owner and as having a share in the equity of the house. After the home was purchased, Mr Smith lived in the home solely and paid money to Mr Green each month, which Mr Smith considered was his contribution towards the mortgage. Mr Green subsequently stated that he considered the loan to be a gift and the regular ongoing payments to be rent. When the relationship soured and Mr Green sought to evict Mr Smith, telling Mr Smith he was a tenant, Mr Smith was left feeling betrayed, facing major financial disadvantage and the possibility of homelessness.
The recent Fair Work Commission (FWC) decision in Jacqueline Waite v Serco Australia Pty Ltd T/A Serco Australia Pty Ltd1 is an important reminder that dismissals on what are perfectly valid substantive grounds can still be unfair if an employee is denied procedural fairness.
International and cross border crimes pose a unique challenge with regard to detection, arrest, extradition and trial. With the syndicated crimes including crimes by terrorist and drug cartels as well as individual criminal offences on the rise, it has become increasingly important for every country to define its rights and obligations in combating international crime and to lay down the due process of law in seeking arrest, interrogation, surrender and transfer of suspected individuals and eventual trial and conviction. Towards this goal, most countries have adopted extensive extradition framework. In the recent past India has also suffered setbacks with many fugitives leaving India to avoid criminal prosecution (Nirav Modi, Mehul Choksi, Vijay Mallya to name a few) and this article seeks to address the principles of Indian extradition laws with regard to arrest and transfer of fugitives from abroad.
On 25 May 2018, Judge Levy handed down a decision in favour of the insurer, who was joined as a defendant to the proceeding under section 119 of the Motor Accidents Compensation Act 1999 (Act).
Funds & financial products
Client Money Reporting Rules Enforcement Powers Regulations registered
On 8 June the Corporations Amendment (Client Money Reporting Rules Enforcement Powers) Regulations 2018 (Cth) was registered.
Incidents of sexual offences against children in schools are a cause of grave concern not only for the parents but also for the school administration which comes under heavy scrutiny of the parents, the Government, the police authorities and the media. It therefore, becomes imperative for schools to be aware of the current legal framework and implications thereunder, so as to implement appropriate measures to prevent occurrence of such incidents in the first place and the appropriate protocol to follow within the confines of the law in case of occurrence of such an unfortunate incident in their schools.
The Securities and Exchange Board of India’s (“SEBI”) recent circular dated April 10, 2018 (Ref No. CIR/IMD/FPIC/CIR/P/2018/64) (“2018 Circular”) has shaken up the investment industry due to its wide ranging impact on the Non-Resident Indians (“NRIs”), the Foreign Portfolio Investors (“FPIs”) and the resident Indian managers of funds. The Know Your Client (“KYC”) requirements for FPIs have been made stringent by SEBI primarily to identify and verify the Beneficial Owner (“BO”) of the FPIs to potentially curb the money-laundering and round tripping concerns.