28 July 2005
Welcome to the July edition of Clayton Utz Banking & Financial Services Insights. In this edition we'll look at a fundamental issue - what is a "bank or other financial institution"? The answer has important implications for many funding agreements and structured transactions.
Whether you actually are a bank or financial institution (or neither), as employers you will still need to understand new laws on surveillance of your employees. We explain their effect in this edition.
Finally, under the Corporations Act, the court has a discretion to overturn a deed of company arrangement that is unfair - but what is unfair? We'll examine the latest developments on this, and what's in store for operators of Investor Directed Portfolio Services.
By John Moutsopoulos and Alex Chernishev.
John Moutsopoulos and Alex Chernishev discuss the potential for the legal obligations of IDPS operators to change in the near future.
By Brian Salter .
In many funding agreements and structured transactions, a participant can only transfer their interest to a "bank or other financial institution" - but what does that mean? A recent decision of the English High Court provides some guidance, as Brian Salter explains.
By Karen O'Flynn.
Who should benefit when directors inject money into a Deed of Company Arrangement? Karen O'Flynn discusses a recent decision.
By Narelle Smythe.
Narelle Smythe discusses the scope and effect of the new New South Wales Workplace Surveillance Act 2005 which will come into operation shortly.
