Service 38 of Bankruptcy Law and Practice has been released.

Updates to this Service are as follows:

Commentary

The following chapters have been reviewed and updated:

• Chapter 2: Bankruptcy Practice in the Federal Court of Australia

• Chapter 3: Bankruptcy Practice in the Magistrates’ Court of Australia

• Chapter 5B: Superannuation

• Chapter 5C: Taxation

• Chapter 10: Bankruptcy Notices

• Chapter 16: Committees of Inspection

• Chapter 40: Offences

• Chapter 42: Service

Legislation

• Bankruptcy Regulations Schedule 1 Form 1 has been reissued

• Bankruptcy (Registration Charges) Act 1997 has been removed

• Bankruptcy (Estate Charges) (Amount of Charge Payable) Determination 2010 has been superseded by Bankruptcy (Estate Charges) (Amount of Charge Payable) Determination 2011

• Transitional Provisions of the Evidence Act 1995 have been removed

• Bankruptcy (Fees and Remuneration) Determination 2010 (No 2) is amended by Bankruptcy (Fees and Remuneration) Determination 2010 (No 2) Amendment Determination 2011 (No 1)

Forms

The following forms have been updated:

• Form 6 reissued

• Form 8 reissued

• Form 14 issued

• Form 18 reissued

Service 19 of Australian Insurance Law (Annotated) has been released.

Updates to this Service are as follows:

Legislation:

• Medical Indemnity Act 2002 amended by:

— Human Services Legislation Amendment Act 2011 No 32

• Medical Indemnity Regulations 2003 amended by:

— Human Services Legislation Amendment Regulations 2011 (No 1) No 120

Codes of Practice:

• Financial Ombudsman Service – Terms of Reference inserted

Practice Notes:

• Insurance Enquiries and Complaints – Practice Note: Exchange of Information removed

• Insurance Enquiries and Complaints – Practice Note: Non-disclosure and Misrepresentation removed

• Practice Note No 2: PN2 Dispute Handling Processes and Information Exchange inserted

• Practice Note No 3: PN3 Surveillance and Recording Evidence inserted

• Practice Note No 4: PN4 Systemic Issues Procedures inserted

Commentary:

• The Current Issues guide card has been updated with the following article:

— Will UK Insurance Law Reform Overtake Australian Marine Insurance Reform?

• The Insurance Contracts Act 1984 annotations have been updated:

— Annotations to ss 26, 45, 48 and 54 have been updated

• The Marine Insurance Act 1909 annotations have been updated:

— Annotations to ss 45 and 61 have been updated

• The Overview of the Aviation Insurance guide card has been updated

Also in this service:

• The Publisher’s Note and Preface have been updated

The latest issue of the Australian Insurance Law Bulletin has been released.

Subscribers' attention is drawn to the following articles in particular:

Vero Insurance Ltd v QBE Insurance (Australia) Ltd considered

Sam Adair WENTWORTH CHAMBERS

Court revisits basis for challenging FOS decisions

Lisa Noris TURKS LEGAL

Update on the proposed changes to the Insurance Contracts Act

Rehana Box and Crystal Lawton BLAKE DAWSON

Cyberbullying — where does a school’s duty of care end?

Alex Kohn MAKINSON & D’APICE

Sparking a divide in defining “damage” in business interruption claims?

Ray Giblett and Jessica Kinny GADENS LAWYERS

To subscribe to the Australian Insurance Law Bulletin or other LexisNexis Products, go to lexisnexis.com.au 

The Corporations Amendment (No 1) Bill, which was reintroduced into the Senate on 29 September 2010, has been referred to the Senate Economics Committee for inquiry and report by 16 November 2010.

The Committee has not yet set the closing date for submissions - we will keep you updated as soon as the closing date is made available. It is seeking written submissions from interested individuals and organisations, preferably in electronic form, submitted online or by email to economics.sen@aph.gov.au. Some guidance in relation to preparing submissions has been provided by the Committee.

More information is available on the official Committee site.

The High Court has, by rule of court, declared the 2011 sitting dates for both hearings and special leave applications.

They may be viewed on Comlaw.

As the correspondence from the Attorney-General rather majestically reminds us, "no consultation was necessary in relation to the appointment of the High Court sitting dates for 2011".

ASIC has released a new class order, CO 10/545. This class order amends CO 98/1417 Audit relief for proprietary companies. 

The new terms of the principal class order are intended to reduce the administrative burden on companies relying on the relief associated with the requirement to lodge forms with ASIC every year. Companies will now only need to lodge Form 382 for the first year in which they claim the relief, rather than for each consecutive year in which the relief is claimed.

The class order commences today, on the date of its registration on FRLI.

Edited to add: the changes are also detailed at paragraphs 30–45 of ASIC Regulatory Guide 115 Audit relief for proprietary companies.

ASIC has released a new class order, in order to correct some drafting anomalies in the National Consumer Credit Protection Regulations 2010 in relation to the streamlined application process for obtaining an Australian credit licence.

All of the provisions, except para 4(b)(i), commenced on 1 July 2010. The remaining paragraph commenced on 24 August 2010, the date of registration on FRLI.

For up-to-date commentary regarding the sweeping changes to the consumer credit regime, subscribers are referred to Australian Consumer Credit Law.