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News & Knowledge

MSI Australia & New Zealand: March news-round up

3rd April 2017

Each month MSI publishes a selection of articles written by its AusNZ member firms highlighting important topical issues in the Australia & New Zealand region.

What you need to know about Statutory Demands
By Richard Cowen, Tucker & Cowen, Lawyers, Brisbane.

A statutory demand is a demand for the payment of a debt, or debts, totalling greater than $2,000.00 that is due and payable by a debtor company to a creditor. The demand must describe the debt claimed and be in the form prescribed by section 459E of the Corporations Act 2001 (Cth).

A statutory demand, if ignored, can lead to the winding up of your company.

Statutory demands are the first step in the process of the potential compulsory winding up of a company and are the corporate equivalent of a bankruptcy notice issued to individuals.

The shift to e-conveyancing is accelerating in NSW
By Joanne Grant, Makinson d’Apice, Lawyers, Sydney.

The transition to electronic conveyancing in NSW is certainly speeding up. On 28 February 2017 the NSW Government announced its commitment to a detailed timetable for a full transition to electronic conveyancing in NSW by July 2019, following an extensive industry consultation process.

Over the last few years we have seen a slow introduction of electronic property settlements and transactions in NSW. However, as of 1 March 2017 certain transactions must be conducted electronically and by 1 July 2019 we will have a completely paperless system in NSW.

In Australia and New Zealand, the MSI membership comprises eight legal and seven accounting firms located in the key business centres of Adelaide, Auckland, Brisbane, Christchurch, Melbourne, Newcastle, Perth, Sydney and North Sydney.

Should you require assistance in Australia and New Zealand and to find out more about our law and accounting member firms in the region, please visit the MSI AusNZ website.