A social impact bond or social benefit bond is a form of finance intended to raise capital for programs addressing areas of pressing social need in the community. It can be a particularly attractive option for organisations that do not have sufficient capital to fund a given social benefit project.
It is an unthinkable scenario but it is important to understand and be prepared for what happens if the Executor of a Will dies or is incapacitated. We outline key things to consider that can assist to avoid this situation. Read here for more.
A contract is an agreement between two parties that is intended to be enforceable by law. Verbal agreements are contracts that have been agreed by spoken communication.In contrast, a written contract is an agreement that is recorded in writing and is signed by the parties to evidence their agreement. There are certain types of contracts which must be in writing, and this includes contracts for buying or selling houses, or buying a car from a licensed dealer or trader.
Unfair preference claims are brought by a company's liquidator against an unsecured creditor. Where the parties are unrelated, a liquidator can wind back transactions entered into up to six (6) months earlier. It might seem a bit harsh that you can be forced to return money that was genuinely owed to you, but the role of the liquidator is to ensure the assets of the company are distributed equally between all unsecured creditors. As the name suggests, unfair preference laws prevent one creditor unfairly gaining a preference over another creditor.
Unfortunately, stories regarding dysfunctional Owners Corporations are becoming more and more common. A dysfunctional Owners Corporation can result in a litany of problems, from untidy gardens and unpainted walls, all the way through to damaged common property (or even apartments or townhouses) that just never seem to get fixed.
The PPSR is a national register of security interests held in personal property, and was introduced under the Personal Property Securities Act 2009 (Cth) ("PPSA"). Personal property is any property other than land, and includes vehicles, art, cattle, shares, and copyright. We outline some tips to be aware of in relation to the PPSR.
Small businesses are often subject to unfair contract terms in standard form contracts as they may not have the necessary resources, power or experience to negotiate the contract compared with larger businesses.To address this issue, the Federal Government has introduced new legislation which will extend the unfair contract provisions which are currently in place for household consumers to protect small businesses. Read here for more information.
The Fair Work Commission has now decided that all modern awards should allow for the cashing out of annual leave, on grounds similar to those already provided for in section 93 of the Act. This will permit employees who are covered by a modern award to cash out accrued annual leave in excess of four weeks. Again, the terms provided for in section 93 of the Act must be adhered to. Furthermore, employees covered by a modern award will be limited to the amount of annual leave that they can cash out, being a maximum of two weeks in any 12 month period.
Voluntary Administration is the process where the 'Administrator' of a company's affairs makes recommendations to the creditors about what the best course of action is to help the company repay its debuts. During this process, the Directors cease being in control of the company and its affairs. Read here for more details on the process and our tips if your company is facing insolvency or financial difficulties.
When giving any form of notice under the contract of sale of real estate, it is best to serve the notices on the contracting party itself, with a courtesy copy to any 'agent'. Or, alternately, ensure that any 'agent' you are dealing with has the express authority from the vendor or purchaser to receive notices. Read here for more information.
Unfortunately, there is no easy definition of what a Court would consider to be unconscionable conduct in a Lease. Instead, s.77 and s.78 of the Act set out various factors to be considered when assessing a party's conduct. Read here for more information.
When parents are passing on their wealth to the next generation, they are often concerned that it not fall into unintended hands. Primarily, this concern relates to the potential for a child's spouse to receive a payment from the inheritance in a Family Law settlement.
