Corporate governance in China

So far as Asia is concerned, corporate governance is an import. The concept itself was virtually unknown in China ¬a decade ago. Yet corporate governance has now been enthusiastically embraced in China, to the point that the year 2005 was declared the Year of Corporate Governance and extensive amendments have been made to several laws and regulations with an emphasis on corporate governance. This essay will consider the effectiveness of China’s corporate governance law on paper and in practice with the OECD’s Principles of Corporate Governance acting as a general guide.

Management [4th Asia Pacific Edition]

The fourth edition of this popular text has been throughly updated, continuing its strong emphasis on the importance of the Asian region to contemporary Australian and New Zealand organizations. Many Asian case examples are featured to illustrate key management concepts. ----- ----- ----- Joining the author team for this edition and enhancing this edition's critical analysis of management theory and applications are the best-selling authors from another of Wiley's undergraduate introductory management texts - Management: Core Concepts and Applications, 2nd Australasian edition (Davidson et al.).----- ----- ----- This new edition also discusses the impact of recent events such as the global financial crisis on the management of organisations, both during the crisis and in its aftermath.----- ----- ----- Of course, Management, 4th Asia- Pacific edition also retains the features that made it so popular with students and lecturers in the earlier editions: a balanced coverage of small to medium-sized enterprises and larger multinational corporations an emphasis on the need for business activities to be sustainable in terms of preserving the welfare of future generations the Career Readiness Workbook at the end of the book, which includes a range of individual and group activities to encourage the practical applications of management theory. With its clear insights into dynamics of management in the workplace of today and the future, Management, 4th Asia-Pacific edition provides a sound basis for the contemporary undergraduate study of introductory management.

CRE workshop part I : comprehending the context

CRE (Corporate Real Estate) decisions should not simply deal with the management of individual facilities, but should especially be concerned with the relationships that a facility has with the corporate business strategy and with the larger real estate markets. Both the practice and the research of CRE management have historically tended to emphasize real estate issues and ignore the corporation’s business issues, causing real estate strategies to be disconnected from the goal and priorities of the corporation’s senior management. With regard to office cycles, a large number of econometric models have been proposed during the last 20 years. However, evidence from historical data and previous research in the field of real estate forecasting seem to agree only on one thing: the existence of interconnected property cycles that are concentrated on vacancy rates (demand). Vacancy also represents the linkage between the inadequacy of existing CRE strategies and the inability of existing econometric models to correctly forecast office rent cycles. Business cycles, across different industry sectors, have decreased from 5-7 years to 1-3 years today, yet corporations are still entering into leases of 5-10 years, causing hidden vacancy levels to rise. Possibly, once CRE strategies are totally in tune with the overall business, hidden vacancy will fade away providing forecasters with better quality data. The aim of this paper is not to investigate whether and when the supply-side will eventually evolve to provide flexible occupancy arrangements to accommodate corporate agility requirements, but rather to propose a general framework for corporations to improve the decision making process of their CRE executives, while emphasizing the importance of understanding the context as a precondition to effective real estate involvements.

A changing landscape : The mortgagee's power of sale in Queensland

In Australia, the extent of a mortgagee’s duty when exercising power of sale has long been the subject of conjecture. With the advent of the global financial crisis in the latter part of 2008, there has been some concern to ensure that the interests of mortgagors are adequately protected. In Queensland, concern of this type resulted in the enactment of the Property Law (Mortgagor Protection) Amendment Act 2008 (Qld). This amending legislation operates to both extend and strengthen the operation of s 85 of the Property Law Act 1974 (Qld) which regulates the mortgagee’s power of sale in Queensland. This article examines the impact of this amending legislation which was hastily introduced and passed by the Queensland Parliament without consultation and which introduces a level of prescription in relation to a sale under a prescribed mortgage which is without precedent elsewhere in Australia.

Power through influence : the evolution of arts management in Australia

The purpose of this paper is to frame effective models of arts management for Australia in the nineties and beyond based on an analysis of historical practices. The evolutionary process of government subvention of the arts through non-profit arts organisations provides a clear statement of the role of power and influence. In particular the ascendancy of arts organisations and their management constitute a background against which to study other non-profit corporations.

Property Agents and Motor Dealers Act : strike three

The Tourism, Racing and Fair Trading (Miscellaneous Provisions) Act 2002 (“the Act”) which was passed on 18 April 2002 contains a number of significant amendments relevant to the operation of the Property Agents and Motor Dealers Act 2000. The main changes relevant to property transactions are: (i) Changes to the process for appointment of a real estate agent and consolidation of the appointment forms; (ii) Additions to the disclosure obligation of agents and property developers; (iii) Simplification of the process for commencing the cooling off period; (iv) Alteration of the common law position concerning when the parties are bound by a contract; (v) Removal of the requirement for a seller’s signature on the warning statement to be witnessed; (vi) Retrospective amendment of s 170 of the Body Corporate and Community Management Act 1997; (vii) Inclusion of a new power to allow inspectors to enter the place of business of a licensee or a marketeer without consent and without a warrant; and (viii) Inclusion of a new power for inspectors to require documents to be produced by marketeers. The majority of the amendments are effective from the date of assent, 24 April 2002, however, some of the amendments do not commence until a date fixed by proclamation. No proclamation has been made at the time of writing (2 May 2002). Where the amendments have not commenced this will be noted in the article. Before providing clients with advice, practitioners should carefully check proclamation details.

Property Agents and Motor Dealers Act : take two

The Property Agents and Motor Dealers Act 2000 commenced on 1 July 2001. Significant changes have now been made to the Act by the Property Agents and Motor Dealers Amendment Act 2001 (“the amending Act”). The amending Act contains two distinct parts. First, ss 11-19 of the amending Act provide for increased disclosure obligations on real estate agents, property developers and lawyers together with an extension of the 5 business day cooling-off period imposed by the original Act to all residential property (other than contracts formed on a sale by auction). These provisions commenced on 29 October 2001. The remaining provisions of the amending Act provide for increased jurisdiction and powers to the Property Agents and Motor Dealers Tribunal (“the Tribunal”) enabling the Tribunal to deal with claims against marketeers. These provisions commenced on the date of assent, 21 September 2001.

Amendments to the Land Title Act 1994 (Qld)

Wholesale amendments to the Land Title Act 1994 (Qld) were recently introduced with the passing of the Natural Resources and Other Legislation Amendment Act 2005 (Qld). The amendments were preceded by an extensive review of issues associated with the operation of the freehold land register and consultation with a number of stakeholders. The three articles that follow address different issues associated with these statutory amendments. The first article provides a brief overview of the amendments. The second article deals with particular amendments designed to combat mortgage fraud. In the third article, the question posed is whether further statutory amendment could better protect unregistered interests.

Legislative change will impact on conveyancing

One of the more significant conveyancing decisions of 2005 was MNM Developments Pty Ltd v Gerrard [2005] QCA 230 (‘Gerrard’). Real estate agents, in particular, became concerned when the Court of Appeal raised grave doubts concerning the validity of a contract for the sale of residential property formed by the use of fax. As a result, the government acted quickly to introduce amendments to the Property Agents and Motor Dealers Act 2000 (Qld) (‘PAMDA’) and the Body Corporate and Community Management Act 1997 (Qld) (‘BCCMA’). The relevant Act is the Liquor and Other Acts Amendment Act 2005 (Qld). These amendments commenced on 1 December 2005. In the second reading speech, the Minister stated that these amendments would provide certainty for sellers of residential properties or their agents when transmitting pre-contractual documents by facsimile and other electronic means. The accuracy of this prediction must be assessed in light of the errors that may occur.

Marketeers beware

The practices of marketeers in the Queensland property market have been the subject of intense media interest and have caused widespread consumer concern. In response to these concerns the Queensland government has amended the Property Agents and Motor Dealers Act 2000 (Qld) (“the Act”). Significant changes to the Act were introduced by the Property Agents and Motor Dealers Amendment Act 2001 (Qld) (“the amending Act”). Implicit in the introduction of the amending Act was recognition that marketeers had altered their operating tactics to avoid the requirements of the Act. The amendments enhance regulation and are intended to capture the conduct of all persons involved in unconscionable practices that have lead to dysfunction in certain sectors of the Queensland property market. The amending Act is focussed on a broad regulatory response rather than further regulation of specific occupations in the property sale process as it was recognised that the approach of industry regulation had proven to be inadequate to curtail marketeering practices and to protect the interests of consumers. As well as providing for increased disclosure obligations on real estate agents, property developers and lawyers together with an extension of the 5 business day cooling-off period to all contracts (other than auction contracts) for the sale of residential property in Queensland; in an endeavour to further protect consumer interests the amending Act provides for increased jurisdiction and powers to the Property Agents and Motor Dealers Tribunal (“the Tribunal”) enabling the Tribunal to deal with claims against marketeers. These provisions commenced on the date of assent (21 September 2001). The aim of this article is to examine the circumstances in which marketeers will contravene the legislation and the ramifications.

Mortgagee sale obligations tightened

The enactment of the Property Law (Mortgagor Protection) Amendment Act 2008 (Qld), means that the obligations of a mortgagee exercising power of sale or a receiver selling have been substantially tightened in Queensland. Background As explained in the explanatory notes accompanying the legislation, with current global economic and financial circumstances, there were concerns about the position of mortgagors when mortgagees exercised their powers of sale. The objective of the amending legislation was to protect the interests of mortgagors by strengthening the statutory provisions relating to the duty of the mortgagee exercising power of sale to take reasonable care to ensure the property is sold at market value. The amending legislation was urgently passed without any consultation process.

'State' of play : Queensland report

A number of recent legislative amendments impact on property law practice in Queensland. Property Law (Mortgagor Protection) Amendment Act 2008 (Qld) Body Corporate and Community Management Amendment Act 2009 (Qld) Residential Tenancies and Rooming Accommodation Act 2008 (Qld) Sustainable Planning Act 2009 (Qld) Vegetation Management and Other Legislation Amendment Bill 2009 (Qld) Property Agents and Motor Dealers Act 2000 (Qld)

Changes to conveyancing in Queensland

Significant amendments to the Property Agents and Motor Dealers Act 2000 (Qld) (‘PAMDA’) and the Body Corporate and Community Management Act 1997 (Qld) (‘BCCMA’) were made by the Liquor and Other Acts Amendment Act 2005 (Qld). These amendments commenced on 1 December 2005. The purpose of this article is to briefly describe the amendments and to indicate certain issues that may arise in practice.

Conveyancing alert

Significant amendments to the Property Agents and Motor Dealers Act 2000 (Qld) (‘PAMDA’) and the Body Corporate and Community Management Act 1997 (Qld) (‘BCCMA’) were made by the Liquor and Other Acts Amendment Act 2005 (Qld). These amendments commenced on 1 December 2005. The purpose of this alert is to very briefly describe the amendments and to indicate certain issues that may arise. The alert is intended to signal the need for careful perusal of these amendments.