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Overhaul of the Securities Law to Come

The Government continues to work through the aftermath of the global financial crisis and the subsequent failure of finance companies. Part of the clean up effort is to restore investor confidence, and the government has taken it upon itself to overhaul the existing securities law. The Financial Markets Conduct Bill (the Bill) has been introduced [...]

November 1st, 2011|Categories: Legal Developments|Tags: |

Tax Avoidance and the Penny and Hooper Decision

The Supreme Court’s decision in Penny and Hooper v Commissioner of Inland Revenue (SC, 24/08/11) demonstrates how one can easily overstep the line between legitimate trust structures and tax avoidance. In that highly-publicised case two surgeons sold their practices to companies they had established, and which their own trusts would be the sole shareholders of. [...]

November 1st, 2011|Categories: Legal Developments|Tags: , |