Media

News Archive

The Supreme Court of Victoria in its decision in the case of Carrafa, Gountzos & Lofthouse v Doka Formwork Pty Ltd [2014] VSC 570 (Relux Case), has confirmed that:

  1. a lease of goods for an indefinite term is a ‘PPS lease’ where the lessor is regularly engaged in the business of leasing goods; and
  2. if the ‘PPS lease’ is not registered within the time frames set by the Personal Property Securities Act (2009) (PPSA), interest in the leased goods may vest in the lessee upon its liquidation.

In our March article, we outlined the Government’s proposed changes to Australia’s Foreign Investment Policy with the aim of strengthening the integrity of the foreign investment framework.  These proposed changes related to application fees and penalties.

On 2 May 2015 the Government confirmed these changes will be made, and they will take effect from 1 December 2015.

The Government has also proposed a new definition of ‘agribusiness’ and ‘agricultural land’ which will likely be introduced at a later date.

On 25 February 2015 the federal Government announced the changes to be made to the rules for foreign purchases of Australian residential property.