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The following article was featured in the most recent edition of the Law Society of South Australia’s Bulletin which is the Law Society’s flagship journal:

Adelaide Law School Research Unit Targets the Regulation of Corporations, Insolvency and Taxation

ROCIT-Law-Society-Bulletin

Associate Professor David Brown, Associate Professor Suzanne Le Mire, Sylvia Villios and Professor Christopher Symes

The Law School at the University of Adelaide has recently established its ROCIT research unit, which brings together a range of scholars researching in areas relating to the Regulation of Corporations, Insolvency and Taxation. The co-directors of the research unit are Professor Christopher Symes and Associate Professor David Brown. ROCIT deputy directors are Associate Professor Suzanne Le Mire and Sylvia Villios.

Research within the unit explores the regulation of corporations and corporate governance in Australia and considers approaches that could advance this regulation to better serve the public interest.

The insolvency arm of the research unit was first established as BILS, Bankruptcy and Insolvency Law Scholarship Unit. Its focus is on insolvency law, a vital plank in the commercial legal architecture of a domestic economy, increasingly seen as an important aspect of international and transnational commercial frameworks, and influential in foreign investment choices.

A sub-group of the unit specialises in taxation and tax policy. This sub-group is primarily engaged in research that investigates the impact of the Australian tax system, particularly with respect to the income tax, excise and SGC regimes, upon the various industry segments in Australia and the various participants in each industry.

ROCIT provides an independent and informed perspective on regulatory developments in these fields, facilitates and hosts events on these areas of law and policy, and coordinates submissions to relevant government and parliamentary bodies on the issues of the day.

Visit the ROCIT blog for regular updates concerning the ROCIT research unit’s research and activities at http://blogs.adelaide.edu.au/law-rocit/

An event will be hosted at the University of Adelaide Law School to formally launch the ROCIT research unit later this year.

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The director penalty regime under Division 269 to Schedule 1 of the Taxation Administration Act 1953 (Cth) empowers the Commissioner to take action against an insolvent company’s directors to recover outstanding tax debts of a company. The director penalty regime was introduced as a substitute for the Commissioner’s tax priority in a corporate insolvency and was aimed at encouraging directors to take early positive action to deal with insolvency. In her article published this month, ROCIT deputy-director Sylvia Villios conducts an analysis of Australia’s director penalty regime, including the most recent reforms, which reveal that the regime helps to foster a culture of good corporate governance which is fundamental to achieving successful corporate rescue post insolvency. Sylvia’s article can be viewed at:

Revenue Law Journal home page: http://epublications.bond.edu.au/rlj/

Article Abstract page: http://epublications.bond.edu.au/rlj/vol25/iss1/2

Full article: http://epublications.bond.edu.au/cgi/viewcontent.cgi?article=1249&context=rlj

 

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Professor Christopher Symes, a director of ROCIT, has been appointed as an editor of the Australian Journal of Corporate Law (AJCL), effective immediately.

Christopher will co-edit the Journal with a senior corporate law and M & A practitioner Tony Damian, a Sydney partner of Herbert Smith Freehills.

Christopher is looking forward to working with Tony who brings a great deal of breadth to the editorial role. The publisher LexisNexis is keen to blend the experience of a senior academic with a senior practitioner to build the journal and maintain it as one of the country’s leading law journals.

Published three times annually, the AJCL is a highly regarded law journal providing a forum for interdisciplinary discussion of major contemporary policy and research issues affecting company law, both in Australia and overseas. The AJCL has been a must-read for corporate law practitioners, researchers and academics for over 20 years. Since its inception, it has continually facilitated thoughtful and insightful debate about policy, legal developments and legislative reform. It publishes one issue each year dedicated to papers that have been delivered at the Corporate Law Teachers’ Association national conference. The journal contains a range of articles, notes and comments, developments and events, case notes and book reviews. This peer reviewed law journal features a high standard of contributions from both the academic and practitioner arenas. (more…)

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ROCIT and the Adelaide Law School collaborated with the Taxation Institute to host an event which was held at the Adelaide Law School on Wednesday 18th May in which a panel of exceptional professionals from diverse backgrounds, including law, accounting, commerce and government shared their experiences in a panel discussion. The panellists included: Adrian Cartland, […]

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Enhancing Firm Sustainability Through Governance The Relational Corporate Governance Approach Corporations, Globalisation and the Law Series Francesco de Zwart, Lecturer, Adelaide Law School, The University of Adelaide, Australia Enhancing Firm Sustainability Through Governance presents a fresh perspective on corporate governance and how the relationship between governance mechanisms, processes and variables should be understood through a […]

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The 2016 Budget proposes a number of changes to Australia’s superannuation system which up until now has been relatively unchanged since the 2007 Simplified Super overhaul. However, with an election likely to be held in coming months, these changes may not be legislated and even if passed, the majority of the proposed changes will not […]

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Negative gearing is one of Australia’s most prevalent tax shelters and has been the focal point of an ongoing and heated debate.[1]  This debate has become more heated with the recent housing boom in the eastern states which has resulted in the median house price in Melbourne rocketing to $700 thousand dollars, around 10 times […]

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Associate Professor David Brown, Co-Director of ROCIT, last month assisted the Australian Financial Security Authority (AFSA), which administers the Personal Property Securities Register, in knowledge-sharing about Australia’s experience of introducing a new system of secured transactions law with a senior delegation from the Kenyan government. Kenya, like many jurisdictions around the world, is considering reform […]

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Oxford has published the third book in a series dedicated to comparative insolvency known as the Oxford International and Comparative Insolvency Law. This book comprehensive analysis of the law and practice in relation to creditor claims in over 20 jurisdictions. It canvasses the divergences and common features of domestic insolvency laws and the areas covered […]

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The Senate is enquiring into the effect on consumers of retail businesses who become insolvent. Symes states that consumers as unsecured creditors do need attention at the present time suggesting there are three major elements to the effect on consumers by a retailer’s insolvency. These are prepayments (deposits), gift cards and loyalty schemes. In his […]

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