The South African Doctrine of Notice: a comparative law perspective

The doctrine of notice was received into South African law in Cohen v Shires, Mchattie and King (1881-1884) 1 SAR TS 41 by reference to a 17th century Dutch decision and English equity.The reception of the polar star of equity has led to doctrinal problems and differing views as to requirements for the operation of the doctrine ever since. This is illustrated in the decision of the Supreme Court of Appeal in Meridian Bay Restaurant (Pty) Ltd v Mitchell 2011 (4) SA 1 (SCA). The Court mentioned fraud and equity as the doctrinal basis but also accepted the view that the doctrine is an anomaly which does not fit into the principles of either the law of delict or property law.The Court required actual notice (or dolus eventualis) and wrongfulness for the operation of the doctrine of notice. In the following discussion of the decision it is argued that for the operation of the doctrine it should be required that: (a) a prior personal right aimed at the acquisition of a real right existed; (b) a holder of a subsequent personal right was actually aware or foresaw the possibility of the existence of the prior personal right; and (c) the holder of the real right nonetheless infringed upon the prior personal right by concluding a subsequent contract and obtaining registration of the real right in the deeds office.

Aggregate volatility risk and the cross-section of stock returns: Australian evidence

This study examines the relation between aggregate volatility risk and the cross-section of stock returns in Australia. We use a stock's sensitivity to innovations in the ASX200 implied volatility (VIX) as a proxy for aggregate volatility risk. Consistent with theoretical predictions, aggregate volatility risk is negatively related to the cross-section of stock returns only when market volatility is rising. The asymmetric volatility effect is persistent throughout the sample period and is robust after controlling for size, book-to-market, momentum, and liquidity issues. There is some evidence that aggregate volatility risk is a priced factor, especially in months with increasing market volatility.

Avian influenza infection dynamics under variable climatic conditions, viral prevalence is rainfall driven in waterfowl from temperate, south-east Australia

Understanding Avian Influenza Virus (AIV) infection dynamics in wildlife is crucial because of possible virus spill over to livestock and humans. Studies from the northern hemisphere have suggested several ecological and environmental drivers of AIV prevalence in wild birds. To determine if the same drivers apply in the southern hemisphere, where more irregular environmental conditions prevail, we investigated AIV prevalence in ducks in relation to biotic and abiotic factors in south-eastern Australia. We sampled duck faeces for AIV and tested for an effect of bird numbers, rainfall anomaly, temperature anomaly and long-term ENSO (El-Niño Southern Oscillation) patterns on AIV prevalence. We demonstrate a positive long term effect of ENSO-related rainfall on AIV prevalence. We also found a more immediate response to rainfall where AIV prevalence was positively related to rainfall in the preceding 3-7 months. Additionally, for one duck species we found a positive relationship between their numbers and AIV prevalence, while prevalence was negatively or not affected by duck numbers in the remaining four species studied. In Australia largely non-seasonal rainfall patterns determine breeding opportunities and thereby influence bird numbers. Based on our findings we suggest that rainfall influences age structures within populations, producing an influx of immunologically naïve juveniles within the population, which may subsequently affect AIV infection dynamics. Our study suggests that drivers of AIV dynamics in the northern hemisphere do not have the same influence at our south-east Australian field site in the southern hemisphere due to more erratic climatological conditions.

Fool me if you can: mimicking attacks and anti-attacks in cyberspace

Botnets have become major engines for malicious activities in cyberspace nowadays. To sustain their botnets and disguise their malicious actions, botnet owners are mimicking legitimate cyber behavior to fly under the radar. This poses a critical challenge in anomaly detection. In this paper, we use web browsing on popular web sites as an example to tackle this problem. First of all, we establish a semi-Markov model for browsing behavior. Based on this model, we find that it is impossible to detect mimicking attacks based on statistics if the number of active bots of the attacking botnet is sufficiently large (no less than the number of active legitimate users). However, we also find it is hard for botnet owners to satisfy the condition to carry out a mimicking attack most of the time. With this new finding, we conclude that mimicking attacks can be discriminated from genuine flash crowds using second order statistical metrics. We define a new fine correntropy metrics and show its effectiveness compared to others. Our real world data set experiments and simulations confirm our theoretical claims. Furthermore, the findings can be widely applied to similar situations in other research fields.

Bayesian nonparametric approaches to abnormality detection in video surveillance

In data science, anomaly detection is the process of identifying the items, events or observations which do not conform to expected patterns in a dataset. As widely acknowledged in the computer vision community and security management, discovering suspicious events is the key issue for abnormal detection in video surveil-lance. The important steps in identifying such events include stream data segmentation and hidden patterns discovery. However, the crucial challenge in stream data segmenta-tion and hidden patterns discovery are the number of coherent segments in surveillance stream and the number of traffic patterns are unknown and hard to specify. Therefore, in this paper we revisit the abnormality detection problem through the lens of Bayesian nonparametric (BNP) and develop a novel usage of BNP methods for this problem. In particular, we employ the Infinite Hidden Markov Model and Bayesian Nonparamet-ric Factor Analysis for stream data segmentation and pattern discovery. In addition, we introduce an interactive system allowing users to inspect and browse suspicious events.