26 August 2004
Welcome to the August edition of Clayton Utz Banking & Financial Services Insights, in which we'll find out why there's continuing uncertainty over security over book debts, and how proposed reforms will enable credit providers to make full use of the internet for their consumer credit business across the country.
We'll also look at letters of comfort, NSW's new vendor duty, the review of the Privacy Act, and why superannuation trustees must commence due diligence on their existing outsourcing arrangements now.
Finally, we'll meet David Klarich, a new partner in our stamp duty team.
By Cameron Belyea.
A United Kingdom appeal court decision has reversed a recent case on security over book debts. Cameron Belyea and David Hargreaves conclude that the ramification for Australian lenders is continued uncertainty.
By Mark Sneddon and David Kreltszheim.
Mark Sneddon and David Kreltszheim discuss reform of consumer credit laws allowing consumer credit contracts to be created electronically.
A recent NSW decision that has found a letter of comfort to be promissory in nature and binding. Michael Riches asks if this could be the start of an 80s revival in banking law.
By David Klarich.
David Klarich writes that NSW vendor duty is not just another tax. It is an insidious tax that causes practical problems for both vendors and purchasers, and seeming illogical behaviour and results.
By Randal Dennings.
Randal Dennings explains what will - and won't - be covered by the review.
Mark Sneddon's appointment to the Gatekeeper Policy Committee highlights Clayton Utz' reputation in the field of identity management and authentication systems and our commitment to partnering with Government and industry to develop and shape policy.
David's experience includes stamp duty, GST, income tax, capital gains tax, income tax litigation and the stamp duty, GST and tax consequences of corporate and trust reorganisations, mergers and acquisitions and reconstructions.
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