Jackson McDonald publications

Publications


  • 12 November 2014

    PPSA Frontline - Spotlight on trusts and registering on the PPSR

    A vital element to registering financing statements correctly on the PPSR is inputting the correct grantor details.  Searchers of the register will search for financing statements using those details. If the searcher searches on the correct grantor details, but a registrant registered the incorrect details, the search will not disclose the registration. Section 165(b) of the PPSA states that such a defect causes the registration to be ineffective. 

    LINK 46

    Author: Hilary Hunt

  • 24 October 2014

    Government's position on RET

    Government’s position on RET released ahead of bipartisan negotiations

    On 28 August 2014, the Expert Panel chaired by Dick Warburton (“Panel”) released its report on the Renewable Energy Target (“RET”) Review, (“report”). The Panel concluded in its report that the RET should not continue in its current form because the costs outweigh the benefits of emissions reduction.

    The Panel made separate recommendations for the Large-scale RET (“LRET”) and the Small-scale Renewable Energy Scheme (“SRES”) in its report.

     

    On 22 October 2014, Federal Industry Minister Ian Macfarlane outlined the government's position on the Renewable Energy Target in response to the Panel’s report and ahead of negotiations with the Labor Party.

    LINK 48KB

    Authors:

  • 20 October 2014

    PPSA Frontline - Spotlight on PPSA section 64 of the Personal Property Securities Act 2009

    Did you know that the super-priority of a purchase money security interest (PMSI) in accounts can be easily lost?


    A supplier of inventory to a retailer on title retention terms has a PMSI in the inventory giving it a super-priority over other security interests. Under the PPSA, this PMSI automatically extends to proceeds such as the account arising from the sale of inventory. This gives the supplier the same super-priority over that account. This is a favourable security position for the supplier.


    But! Under s 64, if another secured party subsequently takes a direct security interest in that account, the supplier's super-priority is jeopardised merely by the subsequent secured party giving 15 business days notice of its interest. A supply contract should be drafted to contemplate this situation. The supplier would also need to take steps to protect its security position from the operation of s 64 during the 15 business day window. If it does not, its super priority will be trumped by the subsequent security interest.

    LINK 44KB

    Author: Hilary Hunt

  • 19 October 2014

    High Court reinforces test of vulnerability for pure economic loss claims in tort

    High Court reinforces test of vulnerability for pure economic loss claims in tort

    On 8 October 2014, in Brookfield Multiplex Ltd v Owners Corporation Strata Plan 61288 & Anor [2014] HCA 36 the High Court unanimously allowed an appeal from a decision of the Court of Appeal of New South Wales by holding that Brookfield, which was the builder of a strata titled apartment complex, did not owe a duty of care to the Owners Corporation to avoid causing economic loss resulting from defects in the common property.

    LINK 39KB

    Author: Stefan Sudweeks

  • 13 October 2014

    Private M&A – common traps in terms sheets

    Terms sheets, offer letters and letters of intent are commonly used to set out the principal terms of a deal, form a basis for further negotiations and are the platform for the parties’ due diligence.  They are a fundamental part of private M&A, but come with some risks and traps, which we examine here

    LINK 39KB

    Authors: Luke Paterson, Elizabeth Tylich

  • 6 October 2014

    Retirement Village Legislation Update

    Stage 2 of the proposed changes to the retirement villages legislation has been delayed.

    The draft amendments to the Retirement Villages Regulations 1992 (Regulations) and the draft Fair Trading (Retirement Villages Code) Regulations 2014 (Revised Code) issued in July 2014 were planned to commence from October 2014.  We have been advised that this has been deferred because the Consumer Protection Division of the Department of Commerce did not have adequate time to address the complex matters that came out of the submissions made on the consultation drafts of the Regulations and the Revised Code.

    LINK 39KB

    Authors: Bianca McGoldrick, Simon Moen

  • 30 September 2014

    PPSA Frontline - Spotlight on section 21 of the Personal Property Securities Act 2009

    Swooping in to confirm our discussion in our last PPSA Frontline, is a new PPSA case from the Federal Court of Australia. In Pozzebon (Trustee) v Australian Gaming and Entertainment Ltd, in the matter of Australian Gaming and Entertainment Ltd (in liq) [2014] FCA 1034 (Pozzebon), the Court addressed section 588FL of the Corporations Act 2001 (Cth) and whether a security interest was “perfected by registration, and by no other means”.

    LINK 46

    Author: Hilary Hunt

  • 22 September 2014

    Spotlight on PPSA section 21

    Welcome to PPSA Frontline – The spotlight on the Personal Property Securities Act 2009 (Cth). Security interests should be perfected to safeguard the secured party’s rights in the personal property subject to the security interest. The PPSA provides for three different perfection steps: registration, possession and control. The step that will apply to most security interests is registration. One common misconception is that the act of registration itself has the legal effect of perfecting a security interest. In actual fact, registering is merely a necessary component of “perfecting” a security interest. More is required.

    Download PDF 48

    Author: Hilary Hunt

  • 18 September 2014

    Data breaches – ‘to notify, or not to notify, that is the question'

    Earlier this year the Privacy Act 1988 (Cth) was amended which brought into effect the new Australian Privacy Principles (APPs).  

    The APPs impose obligations on dealing with ‘personal information’.  Personal information is information or an opinion about an identifiable person, or a reasonably identifiable person, regardless of whether the information or opinion is true or whether it is recorded in a material form.  Some examples of personal information include a person’s name, email address, phone number and credit card details.  Personal information also includes ‘sensitive information’, for example, information or an opinion about a person’s ethnic origin, religious beliefs or their health. 

    Download PDF 42

    Author: Elizabeth Tylich

  • 16 September 2014

    Associations Incorporation Bill 2014

    The Associations Incorporation Bill was introduced into the Legislative Assembly on 11 September 2014. Its purpose is to provide a robust framework to regulate not-for-profit organisations in Western Australia, whilst maintaining an emphasis on self-management and self-reporting. It will repeal and replace the Associations Incorporation Act 1987 (WA) (Current Act).
     
    At this stage, no Regulations or Model Rules have been released. The draft Model Rules released in late 2007 (as part of public consultation on the Associations Incorporation Bill 2006, which was the proposed “Green Bill” as it was then known) will be updated and finalised after the Bill’s passage through Parliament.  We understand that associations will be given the opportunity to provide feedback on them as part of the consultation process.

    Download PDF 41

    Author: Elizabeth Tylich