Disclosure Requirements and Investor Protection: the compatibility of Commonwealth, state and territory laws in serviced strata schemes

Riley, S; Li, G

Disclosure Requirements and Investor Protection: the compatibility of Commonwealth, state and territory laws in serviced strata schemes

Riley, S

Li, G

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Publisher:: LexisNexis
Publication Type:: Journal Article
Citation:: Australian Property Law Journal, 2009, 16 (3), pp. 262 - 278
Issue Date:: 2009-01

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Field	Value	Language
dc.contributor.author	Riley, S https://orcid.org/0000-0002-8079-7069	en_US
dc.contributor.author	Li, G https://orcid.org/0000-0002-6714-2981	en_US
dc.date.issued	2009-01	en_US
dc.identifier.citation	Australian Property Law Journal, 2009, 16 (3), pp. 262 - 278	en_US
dc.identifier.issn	1038-5959	en_US
dc.identifier.uri	http://hdl.handle.net/10453/10450
dc.description.abstract	Policy objectives at the Commonwealth level call for unified and uniform disclosure as part of the law applying to managed investment schemes. Serviced strata schemes are a type of managed investment scheme and are therefore subject to Commonwealth objectives. However, the acquisition of an interest in a serviced strata scheme also comprises the purchase of an interest in real property, which is subject to laws applying in state and territory jurisdictions. The purpose of this article is to examine pre-contract disclosure mechanisms, applying at the state and territory level, to determine their compatibility with policy objectives advanced by the Corporations Act 2001 (Cth).The authors argue that the present regime does not promote a uniform response in accordance with Commonwealth policy. Consequently the authors advocate the adoption of Australia-wide standards in pre-contract disclosure, enabling state and territory disclosure provisions to work in synergy with Commonwealth aims and objectives.	en_US
dc.publisher	LexisNexis	en_US
dc.relation.ispartof	Australian Property Law Journal	en_US
dc.title	Disclosure Requirements and Investor Protection: the compatibility of Commonwealth, state and territory laws in serviced strata schemes	en_US
dc.type	Journal Article
utslib.citation.volume	3	en_US
utslib.citation.volume	16	en_US
utslib.for	1801 Law	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/e-Press
pubs.organisational-group	/University of Technology Sydney/Faculty of Law
utslib.copyright.status	closed_access
pubs.consider-herdc	true	en_US
pubs.issue	3	en_US
pubs.volume	16	en_US

Abstract:

Policy objectives at the Commonwealth level call for unified and uniform disclosure as part of the law applying to managed investment schemes. Serviced strata schemes are a type of managed investment scheme and are therefore subject to Commonwealth objectives. However, the acquisition of an interest in a serviced strata scheme also comprises the purchase of an interest in real property, which is subject to laws applying in state and territory jurisdictions. The purpose of this article is to examine pre-contract disclosure mechanisms, applying at the state and territory level, to determine their compatibility with policy objectives advanced by the Corporations Act 2001 (Cth).The authors argue that the present regime does not promote a uniform response in accordance with Commonwealth policy. Consequently the authors advocate the adoption of Australia-wide standards in pre-contract disclosure, enabling state and territory disclosure provisions to work in synergy with Commonwealth aims and objectives.

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http://hdl.handle.net/10453/10450