Legal Insights
Broad Powers, Unintended Consequences: Trustee's Authority to Remove Appointor Upheld
Appropriately considering the successive control of discretionary trusts, at both a trustee and an appointor level, is a critical component in succession planning. The recent Queensland Court of Appeal decision of Staley v Hill Family Holdings Pty Ltd highlighted this, after broad variation powers resulted in the removal of an appointor by a trustee which could have been avoided had the succession of the trust been properly addressed.
Purchasers Beware – Duty is Now Payable on Late Settlement Interest
If settlement is delayed by the purchaser, through no fault of the Vendor, then interest can be payable by the Purchaser in accordance with the terms of the contract of sale of land (Late Settlement Interest). Late Settlement Interest is normally calculated at 12% per annum of the purchase price.
Changes to the Building Amendment (Swimming Pool and Spa) Regulations 2019
The Building Amendment (Swimming Pool and Spa) Regulations 2019 (“the Regulation”) commenced on 1 December 2019 and added mandatory requirements for landowners who have a swimming pool or spa.
Changes to the Retail Leases Act: how will you be affected as tenant or landlord?
The Retail Leases Amendment Bill (Bill) proposes reforms to the Retail Leases Act (Act) in an effort to make retail leases fairer and easier to understand.
Victorian Farmers, will changes to retail leasing apply to you?
In some circumstances farm leases will be outside the scope of The Retail Leases Act (Act) following a determination by the Minister for Small Business, exempting farm leases from the Act, effective from 29 October 2019.