In late February 2016, ASIC released a discussion paper titled “Broker Remuneration Review – Scoping Discussion Paper” to assist in scoping out the parameters of its forthcoming review of mortgage broker remuneration structu...

ASIC releases guidance on new protections for small businesses against unfair lending contract terms. The Treasury Legislation Amendment (Small Business and Unfair Contract Terms) Act 2015 extends the protections contained in th...

Credit legislation often has a "sting in the tail” - something that was not readily apparent when the legislation was first framed but then comes back to haunt credit providers down the track. We are reminded of what happened...

In September last year, new rules were introduced in Victoria requiring mortgagees/lenders to take positive steps to verify the identity of mortgagors/borrowers and their authority to deal with the land being mortgaged. These chan...

Since their commencement on 1 January 2010, all Modern Awards have had a standard clause 2.2 which allows employers to absorb monetary obligations imposed by the Modern Award into over award payments (Absorption Clause). This c...

Earlier this year the Victorian government made changes to the Duties Act 2000 (Vic) (Act) to impose an additional 3% of duty on foreign purchasers of Victorian land used or intended to be used as residential property. These chang...