Inquiry into Construction Industry Insolvency in NSW Submission by the Owners Corporation Network of Australia Limited
|
|
- Eustacia Fowler
- 6 years ago
- Views:
Transcription
1 Inquiry into Construction Industry Insolvency in NSW Submission by the Owners Corporation Network of Australia Limited Introduction The Owners Corporation Network of Australia Limited ( OCN ) is the peak body representing strata owners, helping owners in understanding and dealing with all the issues associated with strata living, working for positive legislative change and working for fairness for strata owners. OCN appreciates the opportunity to make a submission to the Inquiry into Construction Industry Insolvency in NSW. OCN is currently participating in a number of inquiries instituted by the New South Wales and Federal Governments including, in particular, the Home Building Act Review and the Federal Phoenix Companies Inquiry. Owners corporations and residential lot owners as stakeholders OCN notes that one of the Inquiry s Terms of Reference is stated as Consider legislative or other policy responses that can be taken to minimise the incidence and impact of insolvency in the industry. Residential strata lot owners represent a significant part of the customer base for NSW developers and builders. Failure of a builder or developer impacts on the lives of residential lot owners. OCN as the peak group representing residential strata lot owners in New South Wales is witness to the impact of construction industry insolvency on residential lot owners. This submission is therefore divided into two parts. In Part 1 OCN sets out how a builder s insolvency impacts on those stakeholders, the relevance of this to the Inquiry and our recommendations for further action. In particular we address the relationship between the current Inquiry and the NSW Government s Review of the Home Building Act
2 In Part 2 we address the specific questions raised in the Inquiry s Discussion and Issues Paper. Part 1: The impact of insolvency on lot owners The Relationship Between the Inquiry into Construction Industry Insolvency in NSW and the NSW Government s Review of the Home Building Act In the event of a builder s insolvency, owners corporations and lot owners are left without the remedy of having a builder return to rectify defects and must engage third party contractors. The costs of rectification may run into millions of dollars for a strata scheme. These costs are shared amongst lot owners and must be paid for from owners funds on hand or by special levies raised on owners. The additional levies required to rectify defects can impose hardship on owners who may have been unaware of defects when they purchased their lot some years earlier, or believed that such defects as arose would be rectified by the builder. The legislative response to protect lot owners Lot owners and their owners corporations are afforded under the Home Building Act two types of statutory warranty a 2 year warranty in respect of defects generally and a 6 year warranty in respect of structural defects. As part of its submissions in relation to the review of the Home Building Act OCN has recently made a submission in respect of the scope and definition of these warranties. OCN noted the widespread need to call upon these warranties due to the high level of defects evident in residential strata buildings. Other protections for lot owners OCN recognises that a financially robust building industry teamed with an effective certification regime could represent a major protection for lot owners. Should these policy objectives be attained lot owners will enjoy a greater level of protection. They will nevertheless still be exposed to the consequences of financial failure by builders and developers as and when it occurs. Consequences of a builder s insolvency In the event of a builder s insolvency lot owners and their owners corporations would be unsecured creditors for the cost of rectifying building defects that have been identified in their buildings within the statutory warranty periods. Lot owners and their owners corporations, as the beneficiaries of the statutory warranties, would also be contingent creditors for defects which have yet to be identified within warranty periods for up to 6 years into the future. Page 2 of 12
3 Owners corporations and their lot owners are placed in the particular position of being financially dependent upon a builder s solvency even though they may never have had any contractual relationship with the builder or been in a position to protect themselves commercially from the consequences of a builder s insolvency. The legislative response to provide insolvency protection The response of consumer legislation to deal with this situation has been to provide Home Owners Warranty Insurance HOW. Such insurance has been funded from premiums paid by builders who were required to provide such insurance cover on all significant building work. The original scheme provided for home owners, including lot owners and owners corporations in strata schemes, to be able to claim on this insurance in respect of any defects covered by statutory warranties. These were referred to as first resort policies, where the responsibility for defect rectification lay with the insurer. Later HOW Insurance policies offered only last resort cover in that they were only triggered when the builder was shown to be insolvent or to have disappeared. However under both these regimes a safety net existed to allow owners corporations and their lot owners to recover the costs of defect rectification in the event of the insolvency of a builder. However in 2003 changes to the Home Building Act resulted in the removal of the requirement for builders to obtain HOW insurance cover for construction of residential buildings over 3 storeys in height. The consequences of the removal of HOW insurance The consequence of this change has been that the majority of lot owners in new residential strata buildings now do not have any insurance cover under which they can be recompensed for defect claims against an insolvent builder. This is in contrast to the owners of free standing homes who continue have access to HOW insurance to protect their claims in the event of a builder s insolvency. The proportion of the NSW population living in multi storey residential strata is increasing resulting in a declining eligibility base for HOW Insurance. Due to the added complexity of multi storey residential buildings defects in this sector have the potential to be extremely costly to rectify. Claims by owners corporations are regularly settled for sums measured in millions of dollars. There is therefore no safety net for an increasing proportion of home owners who may be exposed to the large costs of defect rectification. Legislative failure The Home Building Act provides lot owners with statutory warranties to give them standing to claim the costs of defect rectification from builders. However it currently fails to provide a means by which owners corporations and lot owners can recover anything in respect of costs, where a builder enters into insolvency and the distribution Page 3 of 12
4 to unsecured creditors is nominal. In an insolvency situation the protection afforded by statutory warranties is negated. The owners corporation and lot owner and the Inquiry To the extent that the Home Building Act fails to provide protection for a growing number of residential strata lot owners the position of lot owners in a builder s insolvency administration is relevant to any inquiry into the incidence and impact of insolvency in the building industry. The current inquiry is heavily focused on the position of subcontractors who are seen as a group that is vulnerable to the consequences of a builder s insolvency. Owners corporations and their lot owners represent another vulnerable group whose position is similarly deserving of consideration and whose position can be distinguished from that of other trade creditors. Approaches to protection We note that the inquiry does not see amendment of the distribution priorities set out in Sec 556 of the Corporation Act as an avenue for ensuring protection of subcontractor claims in insolvency. In any event even if changes to the provisions of the Corporations Act were to be considered part of a solution for protecting subcontractors, they would not serve to assist the claims of owners corporations and lot owners, many of whose claims would not crystalise until some years after the insolvency administration concluded. The focus of the inquiry has been to examine ways in which the claims of subcontractors can be protected by quarantining funds in a trust environment. Given the extended time periods over which defect claims can arise, setting aside funds in a similar way to cover claims would impact on the cash flow of builders and would not represent an industry acceptable solution. The beneficiaries of home owner statutory warranties need to be protected from the consequences of a builder s insolvency. The established mechanism for doing this is Home Owners Warranty Insurance. It is capable of providing protection to a group of consumer creditors who may be substantially impacted by a builder s insolvency many years after the builder has failed. Recommendations 1. The inquiry should in its report make reference to the failure of the Home Building Act to provide effective consumer protection to owners corporations and lot owners in residential strata buildings over 3 storeys in height in the context of a builder s insolvency. 2. It should be further noted that legislation recognises the need to protect this category of consumers with statutory warranties, but that changes to the Home Page 4 of 12
5 Owners Warranty insurance requirements have prevented owners corporations and lot owners from benefitting from this protection, in circumstances where a builder enters insolvency or is otherwise unable to pay its debts. 3. Home Owners Warranty Insurance protection should be reinstated for owners corporations and lot owners in residential strata buildings over 3 storeys in height. Part 2: Inquiry into Construction Industry Insolvency in NSW Specific Terms of Reference OCN agrees with the conclusion of the Inquiry that no single recommendation is likely to achieve the desired objectives of the Government and that the prospects of effective reform are likely to be maximised if an integrated approach is taken to a range of potential solutions and, in general, supports the adoption of the range of measures listed at pages 8-9 of the Discussion and Issues Paper. OCN s submission is directed principally towards the residential sector of the construction industry. Terms of Reference: Paragraph 1 OCN notes the causes mentioned by witnesses to the Inquiry as explaining the disproportionate number of insolvencies in the construction industry in NSW compared with other Australian States and Territories and across other industries listed on page 13 of the Discussion and Issues Paper. OCN also notes that ASIC data shows that: The construction industry had the highest number of insolvencies. Across all industries, NSW accounted for 44.7 per cent of insolvencies, followed by Victoria at 22.4 per cent and Queensland at 21.1 per cent. A higher percentage of insolvencies is made up of small companies. More than 60 per cent of these companies had fewer than five employees. OCN also notes the advice from the NSW Small Business Commissioner that the ASIC figures are likely to be understated as only 30 per cent of all small businesses are incorporated, the overwhelming majority trading as sole traders or partnerships. Of particular concern to OCN, in light of its view expressed above that there has been a decline in the quality of building in recent years, is the fact that 71 per cent of the respondents to a survey of its members conducted by the Civil Contractors Federation NSW that they had limited their investment in business development, equipment acquisition, staff skills and improvement and innovation, due to the risk of insolvency. Page 5 of 12
6 Questions/Issues for comment OCN accepts the view expressed by the Inquiry that subcontractors are not adequately protected. Terms of Reference: Paragraph 2(i) OCN believes that it is unreasonable for subcontractors to be compelled to provide what is in effect interest free finance to head contractors for periods of up to 90 days. Questions/Issues for comment OCN notes the view that the Building and Construction Industry Security of Payment Act 1999 has brought about a significant improvement in the position of subcontractors but is concerned at the evidence that: Many subcontractors are reluctant to bring SOPA proceedings against contractors Evidence of a head contractor telling a prospective subcontractor that if you re going to put [the statement referred to in paragraph 13(2)(a) of the SOPA Act] on your progress claims then you won t get the work. Evidence that the statutory declarations which are customarily required to be provided by head contractors to the owner/principal advising the principal that relevant payments due to subcontractors have been paid are in many cases false, signed in blank, sometimes in a block, or are simply circumvented by the device of the contractor renegotiating the terms of payment with the subcontractor who has no choice but to agree, so that the money otherwise due and payable to the subcontractor only becomes due and payable at a later renegotiated date. OCN recommends that the SOPA Act be amended to ensure that the object of the Act as stated in subsection 3(1) is attained and the procedure outlined in subsection 3(3) is followed. This may be effected by making the procedure outlined in section 13 of the Act obligatory, rather than optional, and imposing criminal penalties for failure to comply with section 13, as amended, and, perhaps, section 34. OCN also believes that action needs to be taken to strengthen the bargaining position of subcontractors to ensure that they are not compelled to enter into unreasonable payment terms and to take work at a price they would not otherwise agree to. One way in which this could be achieved is by requiring contractors and subcontractors to enter into standard conditions of contract which included a requirement to follow the procedure outlined in section 13 of the SOPA Act thus demonstrating that this was normal practice in the industry. Page 6 of 12
7 Terms of Reference: Paragraph 2(ii) OCN notes the existing protection to subcontractors listed on page 18 of the Discussion and Issues Paper. OCN believes that the measures which have the greatest potential for improving protections for subcontractors include: Strengthening the provisions of the SOPA Act, as discussed under Terms of Reference: Paragraphs 2(i), 3(b) and 3(g). Mandating the adoption of standard terms in construction contracts which require cash security and retention funds to be held in trust. Enactment of legislation along the lines of the proposals discussed under Terms of Reference: Paragraph 3(h). Terms of Reference: Paragraph 2(iii) OCN has particular concern regarding the impact of insolvency and the potential for insolvency on subcontractors and their employees. As discussed earlier in the Introduction, OCN believes that there has been a decline in the quality of building in recent years which has been exacerbated by financial pressures in the building and construction industry and is concerned that this will lead to a departure of skilled subcontractors and tradesmen from the industry. Reducing the impact of insolvency and the potential for insolvency on subcontractors and their employees is therefore a matter of public interest and not just an issue for the construction industry. Terms of Reference: Paragraph 3(a) For the reasons listed on pages 20 and 21 of the Discussion and Issues Paper OCN agrees with the view of the Inquiry that it is not appropriate to amend the Corporations Act to give unpaid subcontractors a preferred position in the ranks of creditors in an insolvency. Questions/Issues for comment OCN believes that there are no particular reasons why subcontractors in the construction industry should be given greater priority over other creditors by amending the Corporations Act. Increasing the priority given to subcontractors would by definition reduce the priority of other creditors and would be likely to result in increased delays and costs of administration of insolvent companies. Page 7 of 12
8 OCN agrees with the view of the Inquiry that it is more appropriate to attack the problem of insolvency at its root cause by means of the other measures discussed in the Discussion and Issues Paper. Terms of Reference: Paragraph 3(b) OCN notes the Review of the Debt Recovery Process announced by the Better Regulation Office and the Department of Attorney General and Justice in October 2010 and the related Issues Paper. Although OCN acknowledges that litigation can be expensive and time consuming it does not agree that proceedings in the Local Court and District Court are inefficient and should be done away with. OCN notes that on 26 October 2012 the NSW Attorney General announced that the majority of NSW tribunals and other bodies exercising tribunal-like functions, including the Consumer, Trader and Tenancy Tribunal would be integrated into a new NSW Civil and Administrative Tribunal (NCAT) which is expected to commence operations in January 2014 but that the Government has not yet finally determined the role and the practices and procedures of the CTTT. OCN sees merit in the adoption of a legislative framework similar to that operating in Queensland, which is discussed under Terms of Reference: Paragraph 3(h). OCN has commented on possible enhancements to the provisions of the SOPA Act under Terms of Reference: Paragraph 2(i) OCN supports the amendment of the SOPA Act to enhance the provisions of the Act dealing with due date for progress payments along the lines of the provisions contained in the Queensland, Northern Territory and Western Australian legislation. Terms of Reference: Paragraph 3(c) OCN agrees that there is a pressing need for steps to be taken to improve the financial skills of those in the construction industry. OCN notes the observation by ASIC reported on pages of the Discussion and Issues Paper that the most common forms of business failure include poor strategic management of the business, inadequate cash flow and poor financial control. OCN is also conscious of the observation on page 8 of the Discussion and Issues Paper that the ability to price risk adequately and a commensurate ability to manage that risk diminishes as one moves down the contracting chain. Page 8 of 12
9 OCN sees merit in the suggestion that the responsibility for improving the financial skills of those in the construction industry should be brought under the umbrella of a statutory authority such as is done in Queensland, as discussed under Terms of Reference: Paragraph 3(h). OCN believes that all contractors should be licensed, as we believe is the situation in Queensland, and that a condition of licence renewal should be participation in appropriate forms of continuing education, as is currently the position with most professions. OCN also believes that steps should be taken to publicise the forms of self help currently available to subcontractors such as the availability of credit insurance and the ability to have relatively cheap financial checks carried out of the contractors for whom they contemplate working. OCN agrees that, due to cost and other factors, it is unlikely that the average subcontractor will be in a position to secure the establishment of a performance bond, but that the potential availability of such bonds should be publicised. Terms of Reference: Paragraph 3(d) OCN notes that little interest has been shown in proposals for the establishment of a mandatory insurance scheme to secure payments to subcontractors. OCN agrees that the costs of such a proposal are likely to be a major deterrent and notes the consequences of the paradox referred to on page 28 of the Discussion and Issues Paper. Terms of Reference: Paragraph 3(e) OCN notes that there is little appetite for the proposal to establish a discretionary mutual fund to compensate contractors for losses arising from insolvency of a lead contractor or principal. OCN believes that there are more effective measures discussed elsewhere in this submission and in the Discussion and Issues Paper to minimise the incidence and impact of insolvency in the construction industry. Terms of Reference: Paragraph 3(f) OCN notes that the Inquiry is giving special consideration to whether a statutory trust provision, modelled along the lines of the Contractor s and Subcontractor s Trust provisions in section 8 of the Ontario Construction Lien Act RSO 1990, c 30 should be adopted. Page 9 of 12
10 OCN was surprised that the question whether a contractor should be permitted to have a free hand in the investment of funds received during the payment cycle which would ultimately become payable to subcontractors does not seem to have been previously canvassed in any detail and was not brought to the forefront of discussions or submissions to the Inquiry until the Inquiry began to focus particular attention upon it. OCN agrees with the view of the Inquiry that the argument that a trust arrangement should not be imposed as, in reality, contractors require continued and unrestricted use of progress payments during the payment cycle or they may topple over, is unmeritorious The Inquiry s view is of particular relevance in the context of the views expressed by a significant number of witnesses that there are a significant number of companies in the construction industry trading whilst insolvent. OCN agrees with the Inquiry s view that a trust arrangement, if properly implemented, would protect subcontractors in the case of a head contractor s insolvency, against the misapplication of a progress payment already made to the contractor, the whole or part of which related to work carried out by the subcontractor. However OCN is has concerns regarding the administration of such a trust arrangement by the Head Contractor which raises questions of possible conflicts of interest, departure from the existing law which forbids a trustee from profiting from the trust and the need to supervise the Head Contractor s administration of the trust. For these reasons, OCN favours a scheme where the funds are held and administered by a third party. Such a scheme could form part of a comprehensive licensing system established by legislation similar to the Queensland Building Services Authority Act OCN agrees with the Inquiry s view that when it comes to retention funds, reform is necessary, and that such funds should be held in a genuine trust fund and placed in a separate bank account with two joint signatories. Terms of Reference: Paragraph 3(g) OCN agrees that subcontractors ought not to be relieved of their obligation to properly educate themselves in business and financial matters, to develop good financial and management practices and to be reminded that it is not possible for them, more than any other sections of the community, to be completely protected against all uncertainties and their own foolishness. Page 10 of 12
11 OCN recommends that more publicity be given to the availability of relatively cheap sources of information currently available to subcontractors, including routine inquiries through companies such as Dun and Bradstreet and other information providers, details of which are available on the ASIC website. OCN has commented under Terms of Reference: Paragraph 2(i) on the need to strengthen the provisions of the SOPA Act regarding the contractor s statutory declaration. Terms of Reference: Paragraph 3(h) OCN sees merit in the proposal by the NSW Small Business Commissioner that consideration be given to establishing an independent system whereby progress payment retention moneys are deposited to a central account similar to the NSW Retail Security Bonds Scheme but notes that the Inquiry does not presently favour such a structure. One advantage of such a system over a system where the moneys are held in trust by the contractor would be that there would be less risk of the funds being commingled with the contractor s own funds and it would avoid the cost of supervision of the contractor to ensure that the funds had been properly dealt with. OCN noted under Terms of Reference: Paragraph 3(b) that the NSW Government has not yet finally determined the role and the practices and procedures of the CTTT. OCN favours the enactment of legislation similar to the Queensland Building Services Authority Act 1991 providing for the licensing of all contractors. OCN agrees that it is anomalous that in order to construct a two bedroom cottage in the far west of NSW, a builder must hold a home builders licence whereas a commercial builder engaged in the construction of a high rise building in Sydney does not require a licence. OCN notes that the Housing Industry Association expressed its firm view that it would be undesirable to introduce into NSW a similar legislative framework to that currently operating in Queensland under the BSA Act and noted in its submission that the residential construction industry represents a distinct and unique component of the construction industry (and that) the commercial and regulatory environment in which the residential construction industry operates must be distinctly considered when undertaking the Inquiry. That is an unconvincing argument. Page 11 of 12
12 It may be true that the residential construction industry represents a distinct and unique component of the construction industry, but it is a component that is subject to financial pressures and insolvency to the same extent as other components of the industry. OCN agrees that key provisions of the BSA Act include: The licensing of all contractors seeking to undertake building work of any kind; Rigorous financial assessment carried out on all contractors; and Continuing audit requirements for all licence holders OCN also notes that the Queensland Building Services Authority claims to take careful steps to ensure that it is always in possession of reasonably current financial information relating to contractors. The significance of this claim is illustrated by the phrase quoted on page 12 of the Discussion and Issues Paper that accounting delayed is accounting denied. A statutory authority of this nature should be able to provide a further means of self help to subcontractors by warning them of the risks of dealing with certain contractors. OCN notes that it is claimed that the Queensland authority funds its own operations on an almost revenue basis. It appears that it is funded to a significant extent by insurance premiums received. OCN notes that it is claimed that the operation of the BSA Act, including in particular the ranking capital requirements set out in the legislation, has operated to reduce insolvency in the construction industry in Queensland. Although it is difficult to gather hard evidence to support this claim, it appears to be consistent with ASIC data cited on page 14 of the Discussion and Issues Paper that across all industries, NSW accounts for 44.7 per cent of insolvencies and Queensland 21.1 per cent. Terms of Reference: Paragraph 4 OCN agrees that it is not appropriate for the Inquiry to recommend any proposal which intersects or conflicts with, or requires any consideration of, Commonwealth Laws and, in particular, that the Inquiry should not recommend any change to section 556 of the Corporations Act. Terms of Reference: Paragraph 5 OCN notes that the Inquiry will receive advice from an industry reference group including key associations and the Small Business Commissioner Conclusion OCN would be happy to discuss with the Inquiry any aspects of this submission. Page 12 of 12
Appendix 1. Regulatory Impact Statement Retentions in construction contracts. Agency Disclosure Statement
Regulatory Impact Statement Retentions in construction contracts Appendix 1 Agency Disclosure Statement This Regulatory Impact Statement (RIS) has been prepared by the Construction Market Policy team in
More informationRe: TUNSW Submission on Protections for Residents of Long Term Supported Group Accommodation in NSW
11 March 2018 Attn: Resident Rights Consultation Process Family and Community Services Level 13, 4-6 Bligh Street Sydney NSW 2000 To whom it may concern, Re: TUNSW Submission on Protections for Residents
More informationMinimum Financial Requirements
Minimum Financial Requirements Effective 1 July 2017 Contents 1. Financial Requirements... 5 1.1 Financial Requirements... 5 1.2 Objectives... 5 1.3 Application of this policy... 5 1.4 Information provided
More informationPROJECT BANK ACCOUNTS
PROJECT BANK ACCOUNTS BUILDING INDUSTRY FAIRNESS In late 2017 the Queensland Government passed the Building Industry Fairness (Security of Payment) Act 2017 (the Act). The Act introduces significant changes
More informationTwo Approaches to Retirement Industry Regulation: Queensland v New South Wales
Bond Law Review Volume 2 Issue 2 Article 9 1990 Two Approaches to Retirement Industry Regulation: Queensland v New South Wales Peter Nugent Bond University Follow this and additional works at: http://epublications.bond.edu.au/blr
More informationTHE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA HOUSE OF REPRESENTATIVES CORPORATIONS AMENDMENT (PHOENIXING AND OTHER MEASURES) BILL 2012
2012 THE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA HOUSE OF REPRESENTATIVES CORPORATIONS AMENDMENT (PHOENIXING AND OTHER MEASURES) BILL 2012 EXPLANATORY MEMORANDUM (Circulated by the authority of the
More informationAustralian Taxation Office consultation regarding proposed interpretation of sections 307-5, and of ITAA
Australian Taxation Office consultation regarding proposed interpretation of sections 307-5, 307-15 and 306-10 of ITAA National Tax Liaison Group, Australian Taxation Office Submission by the Superannuation
More informationPROJECT BANK ACCOUNTS
PROJECT BANK ACCOUNTS BUILDING INDUSTRY FAIRNESS KEY TAKEAWAYS: 1 PBAs are to be implemented in two phases. The first phase, to commence on 1 January 2018, will only apply to certain construction contracts
More informationCredit cards: Responsible lending assessments
CONSULTATION PAPER 303 Credit cards: Responsible lending assessments July 2018 About this paper This consultation paper is for Australian credit licensees (licensees) that are credit providers or that
More informationIn Focus - Preferences and Secured Debts SEPTEMBER 2017
f In Focus - Preferences and Secured Debts SEPTEMBER 2017 Preferences and Secured Debts This edition of In Focus continues our series with respect to preferential payments. This article addresses the relationship
More informationTHE AUTHORISED COLLECTIVE INVESTMENT SCHEMES (CLASS B) RULES 2013 ( Class B Rules )
GUERNSEY FINANCIAL SERVICES COMMISSION PROTECTION OF INVESTORS (BAILIWICK OF GUERNSEY) LAW, 1987 THE AUTHORISED COLLECTIVE INVESTMENT SCHEMES (CLASS B) RULES 2013 ( Class B Rules ) THE AUTHORISED COLLECTIVE
More informationDiscussion Paper - Queensland Private Security Legislation
Preamble The Security industry in Queensland is governed by the Queensland Security Providers Act 1993 and Queensland Security Providers Regulation 2008 administered by the Queensland Office of Fair Trading
More informationINTERIM REPORT OF REVIEW PANEL REVIEW OF THE FINANCIAL SYSTEM EXTERNAL DISPUTE RESOLUTION AND COMPLAINTS FRAMEWORK
7 February, 2017 EDR Review Secretariat Financial System Division Markets Group The Treasury Langton Place PARKES ACT 2600 By email: EDRreview@treasury.gov.au INTERIM REPORT OF REVIEW PANEL REVIEW OF THE
More informationPersonal Glossary of Terms
Annual Report Insolvency practitioners are obliged to produce regular reports detailing their actions, including an account of what money they have received from insolvent companies and individuals and
More informationGENERAL INSURANCE CODE OF PRACTICE
GENERAL INSURANCE CODE OF PRACTICE FOREWORD As the Assistant Treasurer and Minister for Competition Policy and Consumer Affairs, I have a strong interest in ensuring our financial and insurance markets
More informationIs lift fair for Executive Committee members? Nowhere to hide
Is lift fair for Executive Committee members? The straight and simple answer most of the time No! And especially if you happen to be an Office Bearer on an Executive Committee (EC) and, through no fault
More informationCommercial Lender Policy
Commercial Lender Policy Commercial Lender Policy Stewart Title Limited s Commercial Lender Policy will insure you subject to the terms and conditions of the Policy against your actual loss resulting from
More informationTHE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA HOUSE OF REPRESENTATIVES
2010-2011-2012 THE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA HOUSE OF REPRESENTATIVES CORPORATIONS AMENDMENT (FURTHER FUTURE OF FINANCIAL ADVICE MEASURES) BILL 2011 REPLACEMENT EXPLANATORY MEMORANDUM
More informationFinancial Services and Credit Reform. Green Paper. Submission to the Australian Treasury
Financial Services and Credit Reform Green Paper Submission to the Australian Treasury July 2008 1. MORTGAGES, MORTGAGE BROKING AND NON-DEPOSIT TAKING INSTITUTIONS AND OTHER CREDIT PRODUCTS The Green Paper
More informationChubb Elite Excess Professional Indemnity Insurance Policy Schedule and Wording
Chubb Elite Excess Professional Indemnity Insurance Policy Schedule and Wording Policy Number: TBA 08 th October 2017 08 th October 2018 Contents Policy Schedule... 3 Endorsements... 6 Policy Wording...
More informationLETTER OF ENGAGEMENT FOR SERVICES
Chapter Two Australia Pty Ltd Level 57, MLC Centre 19 Martin Place Sydney NSW 2000 GPO Box 348 Sydney NSW 2001 Tel: 02 9238 2285 ABN: 57 607 182 507 LETTER OF ENGAGEMENT FOR SERVICES The purpose of this
More informationSubmissions on the Strata Schemes Management Regulation 2016 and Strata Schemes Development Regulation 2016
Submissions on the Strata Schemes Management Regulation 2016 and Strata Schemes Development Regulation 2016 TO: The Responsible Officer Review of Strata and Community Title Laws Policy and Strategy NSW
More informationBuilding Defects and Recent Case Studies
Building Defects and Recent Case Studies Presenter David Bannerman 7 October 2011 T (02) 9929 0226 F (02) 8920 2427 M 0403 738 996 E dbannerman@bannermans.com.au A Suite 702, 2 Elizabeth Plaza, North Sydney,
More informationRECENT CHANGES TO THE NSW ACT
Paper for 6 May 2014 meeting of the Adjudication Forum The Building and Construction Industry Security of Payment Amendment Act 2013 NSW commences on 21 April 2014. It only applies to a construction contract
More informationFuture of Financial Advice: Best interests duty and related obligations Update to RG 175
CONSULTATION PAPER 182 Future of Financial Advice: Best interests duty and related obligations Update to RG 175 August 2012 About this paper This consultation paper sets out ASIC s proposed guidance for
More informationPOLICY WORDING POLICY WORDING BUILDING INDEMNITY INSURANCE - SOUTH AUSTRALIA
POLICY WORDING POLICY WORDING BUILDING INDEMNITY INSURANCE - SOUTH AUSTRALIA GLA RBUA BII SA 1115 Effective Date 01 November 2015 Welcome to the financial security provided by RBUA Building Indemnity Insurance
More informationProportionate liability and a case on denial of indemnity
JANUARY 2005 INSURANCE & REINSURANCE www.aar.com.au Inside: Proportionate liability provisions have now commenced in a number of Australian jurisdictions and their practical effects will be of great interest
More informationChapter 25. Bankruptcy and Insolvency
Chapter 25 Bankruptcy and Insolvency Learning Objectives At the end of this chapter, students should be able to: understand the meaning, purposes and effects of personal bankruptcy; explain the duties
More informationProperty Law Review Lot entitlements under the Body Corporate and Community Management Act 1997 Final Recommendations
2016 Property Law Review Lot entitlements under the Body Corporate and Community Management Act 1997 Final Recommendations Commercial and Property Law Research Centre QUT Law Preface The Commercial and
More informationLegalwise Seminar Retentions under the Construction Contracts Amendment Act 2015 Janine Stewart / Stefan Jammes / Frank Brown
I. Introduction Legalwise Seminar Retentions under the Construction Contracts Amendment Act 2015 Janine Stewart / Stefan Jammes / Frank Brown The issue of retentions and the changes introduced by the Construction
More informationInternational Accounting Standard 37 Provisions, Contingent Liabilities and Contingent Assets
IAS 37 International Accounting Standard 37 Provisions, Contingent Liabilities and Contingent Assets Objective The objective of this Standard is to ensure that appropriate recognition criteria and measurement
More informationIN THE MATTER OF THE SECURITIES ACT, R.S.O. 1990, CHAPTER S. 5, AS AMENDED (THE ACT) AND IN THE MATTER OF 360 TRADING NETWORKS INC.
IN THE MATTER OF THE SECURITIES ACT, R.S.O. 1990, CHAPTER S. 5, AS AMENDED (THE ACT) AND IN THE MATTER OF 360 TRADING NETWORKS INC. ORDER (Section 147 of the Act) WHEREAS 360 Trading Networks Inc. (Applicant)
More informationThank you for the opportunity to provide feedback on this important piece of legislation.
7 September 2017 Ms Kate McGuckin Committee Secretary Public Works and Utilities Committee Parliament House George Street Brisbane Qld 4000 Email: PWUC@parliament.qld.gov.au Dear Ms McGuckin Subject: Building
More informationGENERAL INSURANCE CODE OF PRACTICE
GENERAL INSURANCE CODE OF PRACTICE FOREWORD As the Minister for Finance, Superannuation and Corporate Law and Minister for Human Services, I welcome the release of the revised General Insurance Code of
More informationEnhanced Forward Contract. Product Disclosure Statement.
Enhanced Forward Contract. Product Disclosure Statement. Issued by Westpac Banking Corporation Australian Financial Services Licence No. 233714 ABN 33 007 457 141 Dated: 13 August 2014 Table of Contents.
More informationDomestic Building Insurance - Victoria Policy Wording
Domestic Building Insurance - Victoria Policy Wording CBW DBI VIC 1213 Effective Date 01 December 2013 Welcome to the financial security provided by Calliden Domestic Building Insurance - Victoria Policy
More informationC. SZALEK Complainant DETERMINATION IN TERMS OF SECTION 30M OF THE PENSION FUNDS ACT OF 1956
IN THE TRIBUNAL OF THE PENSION FUNDS ADJUDICATOR In the complaint between: CASE NO: PFA/NP/117/00/KM C. SZALEK Complainant and ISCOR PENSION FUND Respondent DETERMINATION IN TERMS OF SECTION 30M OF THE
More informationTHE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA HOUSE OF REPRESENTATIVES CORPORATIONS AMENDMENT (FUTURE OF FINANCIAL ADVICE) BILL 2011
2010-2011-2012 THE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA HOUSE OF REPRESENTATIVES CORPORATIONS AMENDMENT (FUTURE OF FINANCIAL ADVICE) BILL 2011 REPLACEMENT EXPLANATORY MEMORANDUM (Circulated by the
More informationProvisions, Contingent Liabilities and Contingent Assets
International Accounting Standard 37 Provisions, Contingent Liabilities and Contingent Assets In April 2001 the International Accounting Standards Board (IASB) adopted IAS 37 Provisions, Contingent Liabilities
More informationReview of the early release of superannuation benefits
Review of the early release of superannuation benefits The Treasury 12 February 2018 Telephone +61 2 6246 3788 Fax +61 2 6248 0639 Email mail@lawcouncil.asn.au GPO Box 1989, Canberra ACT 2601, DX 5719
More informationProvisions, Contingent Liabilities and Contingent Assets
Indian Accounting Standard (Ind AS) 37 Provisions, Contingent Liabilities and Contingent Assets (This Indian Accounting Standard includes paragraphs set in bold type and plain type, which have equal authority.
More informationRange Forward Contract. Product Disclosure Statement.
Range Forward Contract. Product Disclosure Statement. Issued by Westpac Banking Corporation Australian Financial Services Licence No. 233714 ABN 33 007 457 141 Dated: 13 August 2014 Table of Contents.
More informationBERMUDA MONETARY AUTHORITY
BERMUDA MONETARY AUTHORITY DISCUSSION PAPER POLICYHOLDER PROTECTION June 2014 1 TABLE OF CONTENTS I. EXECUTIVE SUMMARY... 3 II. BACKGROUND... 4 III. POLICYHOLDER PROTECTION MECHANISMS... 5 IV. POLICYHOLDER
More informationSelf managed superannuation funds. A Financial Planning Technical Guide
Self managed superannuation funds A Financial Planning Technical Guide 2 Self managed superannuation funds Contents What is a self managed 4 superannuation fund (SMSF)? What are the benefits? 4 What are
More informationCountry Comparative Legal Guides. Japan: Restructuring & Insolvency
Country Comparative Legal Guides Country Author: Mori Hamada & Matsumoto Daisuke Asai Kunio Miyaoka Mugi Sekido Shincihiro Yokota This country-specific Q&A provides an overview of the legal framework and
More informationFinancial Services Authority
Financial Services Authority FINAL NOTICE To: Of: Zurich Insurance Plc, UK branch The Zurich Centre 3000 Parkway Whiteley Fareham PO15 7JZ Date 19 August 2010 TAKE NOTICE: The Financial Services Authority
More informationUS Chapter 11 : Should it be adopted in the UK?
US Chapter 11 : Should it be adopted in the UK? The US business rescue procedure, Chapter 11, has enjoyed positive press and parliamentary coverage in the UK, with a number of commentators calling for
More informationAustralian Financial Services Licence
is hereby licensed as an Australian Financial Services Licensee pursuant to section 913B of the Corporations Act 2001 subject to the conditions and restrictions which are prescribed, and to the conditions
More informationNational Energy Retail Rules Version 6
National Energy Retail Rules Version 6 Status Information This is the latest electronically available version of the National Energy Retail Rules as at 23 June 2016. This consolidated version of the National
More informationLand Rich Duty 1. Peter Allen and Katrina Parkyn, Allens Arthur Robinson
Land Rich Duty 1 Peter Allen and Katrina Parkyn, Allens Arthur Robinson 1. Introduction 1.1 Background Traditionally, every Australian jurisdiction has imposed stamp duty on transfers of real property
More informationEligibility application for builder with up to $5m in annual turnover
Eligibility application for builder with up to $5m in annual turnover QBE Insurance (Australia) Limited ABN 78 003 191 035 AFSL 239 545 Insurance Coverage Residential Builders Warranty Insurance also known
More informationSri Lanka Accounting Standard LKAS 37. Provisions, Contingent Liabilities and Contingent Assets
Sri Lanka Accounting Standard LKAS 37 Provisions, Contingent Liabilities and Contingent Assets CONTENTS SRI LANKA ACCOUNTING STANDARD LKAS 37 PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS paragraphs
More informationEnterprise liability for corporate groups - a more efficient outcome for creditors: Part 2
Enterprise liability for corporate groups - a more efficient outcome for creditors: Part 2 Author Dickfos, Jennifer Published 2011 Journal Title Keeping good companies Copyright Statement 2011 Chartered
More informationHome Warranty Insurance - Victoria Insurance Policy
Home Warranty Insurance - Victoria Insurance Policy CBHWA VIC 1208 Effective Date 01 December 2008 Table of Contents Calliden Home Warranty Insurance - Victoria Insurance Policy Important Information 02
More informationIndian Accounting Standard (Ind AS) 37. Provisions, Contingent Liabilities and Contingent Assets
Indian Accounting Standard (Ind AS) 37 Provisions, Contingent Liabilities and Contingent Assets Indian Accounting Standard 37 Provisions, Contingent Liabilities and Contingent Assets CONTENTS Paragraphs
More informationPROFESSIONAL INDEMNITY EXCESS INSURANCE POLICY COSTS EXCLUSIVE
PROFESSIONAL INDEMNITY EXCESS INSURANCE POLICY COSTS EXCLUSIVE ProRisk Professional Indemnity Costs Exclusive Excess Insurance Policy V2.14 Page 1 of 8 TABLE OF CONTENTS PAGE IMPORTANT INFORMATION... 3
More informationORDER MO Appeal MA Brantford Police Services Board. September 6, 2018
ORDER MO-3655 Appeal MA15-246 Brantford Police Services Board September 6, 2018 Summary: The appellant made an access request under the Act to the police for records relating to a homicide investigation
More informationSUBMISSIONS OF THE FAMILY LAWYERS ASSOCIATION ON PARALEGAL PRACTICE EXPANSION INTO FAMILY LAW
SUBMISSIONS OF THE FAMILY LAWYERS ASSOCIATION ON PARALEGAL PRACTICE EXPANSION INTO FAMILY LAW Introduction The Family Lawyers Association agrees that individuals involved in our family justice system should
More informationto the DIRECTOR OF BUILDING CONTROL DEPARTMENT OF JUSTICE TASMANIA on the
to the DIRECTOR OF BUILDING CONTROL DEPARTMENT OF JUSTICE TASMANIA on the RESIDENTIAL BUILDING CONSUMER GUIDE AND DETERMINATION UNDER SECTION 14 OF THE RESIDENTIAL BUILDING WORK CONTRACTS AND DISPUTE RESOLUTION
More informationANZ ASSURED & PERSONAL OVERDRAFT
ANZ ASSURED & PERSONAL OVERDRAFT TERMS AND CONDITIONS 12.2017 Introduction If you are thinking about obtaining a personal credit facility from ANZ or have any questions about your existing facility, simply
More informationAssociation of Accounting Technicians response to Intermediaries Legislation (IR35) Discussion Document
Association of Accounting Technicians response to Intermediaries Legislation (IR35) Discussion Document 1 Association of Accounting Technicians response to Intermediaries document (IR35) discussion document
More informationProvident Capital Limited (Receivers Appointed) (In Liquidation) ( Provident or the Company )
Q&A Debentureholders Notice: The following information seeks to provide answers to general queries from holders of Fixed Term Investments within the Provident Capital Limited Mortgage Debenture Issue only.
More informationProvisions, Contingent Liabilities and Contingent Assets
HKAS 37 Revised March 2010November 2016 Effective for annual periods beginning on or after 1 January 2005 Hong Kong Accounting Standard 37 Provisions, Contingent Liabilities and Contingent Assets HKAS
More informationStandard Retail Contract Terms & Conditions.
Standard Retail Contract Terms & Conditions. Preamble This contract is about the sale of energy to you as a small customer at your premises. It is a standard retail contract that starts without you having
More informationInquiry into Unfair Terms in Consumer Contracts
Submission by the Housing Industry Association Inquiry into Unfair Terms in Consumer Contracts By the Standing Committee on Law and Justice, Legislative Council of New South Wales 6 October 2006 Housing
More informationORDER PO Appeal PA Peterborough Regional Health Centre. June 30, 2016
ORDER PO-3627 Appeal PA15-399 Peterborough Regional Health Centre June 30, 2016 Summary: The appellant, a journalist, sought records relating to the termination of the employment of several employees of
More informationThe establishment and operation of managed investment schemes discussion paper
5 June 2014 John Kluver Corporate and Markets Advisory Committee GPO Box 3967 SYDNEY NSW 2001 T +61 2 9223 5744 F +61 2 9232 7174 E info@governanceinstitute.com.au Level 10, 5 Hunter Street, Sydney NSW
More informationSelf managed superannuation funds. A Financial Planning Guide
Self managed superannuation funds A Financial Planning Guide 2 Self managed superannuation funds Contents What is a self managed 4 superannuation fund (SMSF)? What are the benefits? 4 What are the risks?
More informationGUIDANCE FOR REGULATORY ORDERS
GUIDANCE FOR REGULATORY ORDERS ELIGIBILITY FOR CERTIFICATES OR LICENCES AND UNSATISFACTORY OUTCOMES TO MONITORING VISITS Published by The Association of Chartered Certified Accountants on 2 February 2009
More informationCOTA New South Wales. Retirement village living know what you are buying. Discussion Paper No 1
COTA New South Wales Retirement village living know what you are buying Discussion Paper No 1 July, 2013 Our rights. Our future. COTA NSW is the peak body representing people over 50 in NSW. We re an independent,
More informationTreasury Laws Amendment (Combatting Illegal Phoenixing) Bill 2018
Submission to the Treasury Treasury Laws Amendment (Combatting Illegal Phoenixing) Bill 2018 27 September 2018 ABOUT THE HOUSING INDUSTRY ASSOCIATION...3 1. INTRODUCTION...4 2. GENERAL COMMENTS...4 2.1
More informationAUSTRALIAN CONSUMER LAW REVIEW
AUSTRALIAN CONSUMER LAW REVIEW SUBMISSION MAY 2016 CONTENTS EXECUTIVE SUMMARY... 3 NEGATIVE IMPACTS... 5 ENGINEERING AND ARCHITECTURAL FIRMS... 5 INSURANCE MARKETS... 5 MACRO ECONOMIC... 7 SMALL BUSINESS...
More informationINVESTMENT MANAGEMENT AGREEMENT
(1) BKI INVESTMENT COMPANY LIMITED (ACN 106 719 868) - and (2) CONTACT ASSET MANAGEMENT PTY LIMITED (ACN 614 316 595) INVESTMENT MANAGEMENT AGREEMENT September 2016 CONTENTS 1. APPOINTMENT OF MANAGER...1
More informationResponsible Entity s Report. Equititrust Income Fund ARSN
Responsible Entity s Report Equititrust Income Fund Annual Financial Report 30 June 2009 CONTENTS DIRECTORS REPORT 1 PAGE LEAD AUDITOR S INDEPENDENCE DECLARATION 5 INCOME STATEMENT 6 BALANCE SHEET 7 STATEMENT
More informationRe: Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry
Re: Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry Written Submissions of the Australian Prudential Regulation Authority (APRA) Round 2: Financial Advice
More informationAge Discrimination in Superannuation. Submission to. The Hon Susan Ryan AO Age Discrimination Commissioner
Association of Independent Retirees (A.I.R.) Ltd ACN 102 164 385 Age Discrimination in Superannuation Submission to The Hon Susan Ryan AO Age Discrimination Commissioner December 2011 Summary The Association
More informationExtra-Territorial Application of Securities Fraud Provisions (File No )
Extra-Territorial Application of Securities Fraud Provisions (File No. 4-617) Joint response of the Company Law Committees of the Law Society of England and Wales and the City of London Law Society The
More informationINSURANCE BROKERS CODE OF PRACTICE
INSURANCE BROKERS CODE OF PRACTICE BUILDING PROFESSIONAL COMPETENCE AND CONSUMER CONFIDENCE The insurance broking profession is about helping you to navigate the unavoidable complexities of insurance products
More informationResponding to requests from a power of attorney or court-appointed administrator
Responding to requests from a power of attorney or court-appointed administrator This industry guideline does not have legal force or prescribe binding obligations on individual banks. While the ABA s
More informationReitway Global Property Portfolio Reference Guide
Reitway Global Property Portfolio Reference Guide Issue Date 06 October 2017 ARSN 603 098 773 APIR Retail SLT0054AU APIR Institutional SLT0057AU About this Reference Guide This Reference Guide ( RG ) has
More informationProvisions, Contingent Liabilities and Contingent Assets
International Accounting Standard 37 Provisions, Contingent Liabilities and Contingent Assets This version includes amendments resulting from IFRSs issued up to 31 December 2008. IAS 37 Provisions, Contingent
More informationThe CCA retention regime
The CCA retention regime NZIQS member Webinar 21 September 2017 Why regulate? Outline of retention regime Complying with the regime Industry responses Issues and opportunities Why regulate? Was there a
More informationAssetinsure. Owner-Builder Warranty Insurance. - Western Australia
Assetinsure Owner-Builder Warranty Insurance - Western Australia Effective date: 01/10/2015 Table of Contents IMPORTANT INFORMATION... 3 INTRODUCTION... 3 ABOUT ASSETINSURE... 3 ABOUT AOBIS... 3 DUTY OF
More informationEXTENDING UNFAIR CONTRACT TERMS (UCT) PROTECTIONS TO GENERAL INSURANCE CONTRACTS
Manager Insurance and Financial Services Unit Financial System Division The Treasury Langton Crescent PARKES ACT 2600 Email: UCTinsurance@treasury.gov.au 24 August 2018 Dear Sir/Madam EXTENDING UNFAIR
More informationTHE BOARD OF THE PENSION PROTECTION FUND. Guidance in relation to Contingent Assets. Type A Contingent Assets: Guarantor strength 2018/2019
THE BOARD OF THE PENSION PROTECTION FUND Guidance in relation to Contingent Assets Type A Contingent Assets: Guarantor strength 2018/2019 This draft document will be published in final form as part of
More informationSUBMISSION ON SHORT SELLING DISCLOSURE REGIME CONSULTATION PAPER
7 March 2009 Mr Stephen Powell Market Integrity Unit Corporations and Financial Services Division Department of the Treasury Langton Crescent PARKES ACT 2600 Level 6, 56 Pitt Street Sydney NSW 2000 P.O.
More informationPPSA model clauses General security agreement
16 May 2013 1 1 Security interest The Grantor grants a security interest in the Collateral to the Secured Party to secure payment of the Secured Money. This security interest is 2 [a transfer by way of
More informationProduct Disclosure Statement. WHAT YOU NEED TO know Currency Enhanced Deposit. Issue date: 12 June 2008 Issued by:
WHAT YOU NEED TO know Currency Enhanced Deposit Product Disclosure Statement Issue date: 12 June 2008 Issued by: Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 You should read all sections
More informationCS ENERGY LIMITED SERVICE CONDITIONS
CS ENERGY LIMITED SERVICE CONDITIONS 1. DEFINITIONS In these Conditions: Agreement means the agreement between CS Energy and the Contractor for the provision of Services and comprises the relevant Service
More informationWhistleblowers Protection Act 2001 Policy and Procedures ABN
Whistleblowers Protection Act 2001 Policy and Procedures ABN 89 066 902 547 Contents 1. Statement of support to whistleblowers... 4 2. Purpose of policy and procedures... 4 3. Objects of the Act... 4 4.
More informationDraft Deregulation Bill Written evidence from R3, the insolvency trade body
Draft Deregulation Bill Written evidence from R3, the insolvency trade body Introduction 1. R3 represents 97% of UK Insolvency Practitioners (IPs) - the only professionals authorised to take insolvency
More informationFlexi Forward Contract. Product Disclosure Statement.
Flexi Forward Contract. Product Disclosure Statement. Issued by Westpac Banking Corporation Australian Financial Services Licence No. 233714 ABN 33 007 457 141 Dated: 13 August 2014 Table of Contents.
More informationFAIR TRADING (RETIREMENT VILLAGES INTERIM CODE) REGULATIONS 2018
Westrn Australia Fair Trading Act 2010 FAIR TRADING (RETIREMENT VILLAGES INTERIM CODE) REGULATIONS 2018 GOVERNMENT GAZETTE, WA 29 March 2018 Retirement Villages Interim Code 2018 Page 1 As at 1 April 2018
More information1 January 2010 (as amended 1 January 2015) Table of contents
Terms of Reference 1 January 2010 (as amended 1 January 2015) Table of contents Section A: Preliminary Matters 1. Introduction 1.1 Purpose of the Service 1.2 Principles that underpin FOS operations and
More informationMAKING TAX DIGITAL: INTEREST HARMONISATION AND SANCTIONS FOR LATE PAYMENT
ICAEW REPRESENTATION 29/18 MAKING TAX DIGITAL: INTEREST HARMONISATION AND ICAEW welcomes the opportunity to comment on the Making Tax Digital: interest harmonisation and sanctions for late payment consultation
More informationNext Business Energy Customer terms and conditions. Small customer market contract November 2017
Next Business Energy Customer terms and conditions Small customer market contract November 2017 0 1. Introduction 1.1 This is a market contract for small business customers and residential customers. 1.2
More informationZurich Fidelity Guarantee Insurance. Policy Wording
Zurich Fidelity Guarantee Insurance Policy Wording Contents About our Fidelity Guarantee Insurance About Zurich 3 How to apply for this insurance 3 Our contract with you 3 Duty of Disclosure 3 Non-disclosure
More informationFOS Submission. Addressing the high cost of home and strata title insurance in North Queensland
FOS Submission Addressing the high cost of home and strata title insurance in North Queensland Financial Ombudsman Service FOS Submission- Cost Of Home And Strata Title Insurance.Docx 1 of 8 Contents Contents
More information22 May The Manager Consumer Credit Unit Corporations and Financial Services Division The Treasury PARKES ACT 2600
22 May 2009 The Manager Consumer Credit Unit Corporations and Financial Services Division The Treasury PARKES ACT 2600 Exposure Draft: National Consumer Credit Regime I would like to make the following
More informationPetroleum Legislation Amendment Bill 2018
Northern Land Council and Central Land Council Joint Submission to the Economic Policy Scrutiny Committee Petroleum Legislation Amendment Bill 2018 7 February 2019 Central & Northern Land Council s submission
More information