The new RVA NSW Regional Manger, Mark Eagleston, has distributed a very good overview of the Retirement Villages Act Amendment Bill that was passed through NSW Parliament on 4 December, with release of regulations expected first quarter 2009. In particular it reviews the new requirements on settling in periods, capital replacement funds, capital gains, capital maintenance and recurrent charges. Mark can be contacted on 02 9261 1777 or managernswact@rva.com.au
Five Prime Trust directors found to a breach their duties when handing over $33 million to Bill Lewski
Corporate watchdog ASIC was successful in the Federal Court, obtaining a ruling that the five former directors of Prime Trust are liable for breaching their duties as officers of the trust APCHL. They agreed to the amendment of the Constitution of...