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Licensee obligations 'obscured' by red tape


Licensee obligations ‘obscured’ by red tape
Licensee obligations ‘obscured’ by red tape
The government body charged with reviewing the financial services legal system has pointed to “skyrocketing” complexity in the
Corporations Act since it was first introduced, revealing the act is so long it now accounts for 4 per cent of all federal laws in Australia.
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In an industry webinar on Monday, Australian Law Reform Commission legal officer Nicholas Simoes da Silva said in the two decades since the
Corporations Act had been introduced, it had increased in size by around 60 per cent and been amended more than 100 times. ....

Sarah Kendell , Australian Law Reform Commission , Nicholas Simoes , Corporations Act , சாரா கெண்டெல்ல் , ஆஸ்திரேலிய சட்டம் சீர்திருத்தம் தரகு , நிக்கோலஸ் சிமோக்கள் , நிறுவனங்கள் நாடகம் ,

ALRC bombshell: Chapter 7 removal from Corps Act 'on the table'


ALRC Commissioner and federal court judge Justice Hon. John Middleton.
Australian Law Reform Commissioner and federal court judge Hon. Justice John Middleton has confirmed the ALRC will look at pulling chapter seven of the Corporations Act – which deals with financial products and services – out of the Act altogether as part of the group’s ongoing review into financial services regulation.
After an ALRC webinar presentation that outlined some of the complexities within the Corporations Act, Middleton was asked by ALRC president and fellow federal judge Justice Hon. Sarah Dennington whether chapter seven might be better “as a standalone statute”.
“It’s certainly something that’s on the table for consideration,” Middleton said, before adding that doing so “wasn’t an automatic cure, necessarily,” to the complexity issues that plague the Act. ....

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