Accounting for risk: The advent of capped conveyancing title insurance

Title insurance companies originating from America, have, in the past 15 years become part of the Australian conveyancing landscape. However for most residential freehold owners, their activities would be a mystery. A purchaser does not routinely obtain title insurance, with the companies presently focussing on servicing the mortgagee sector. While the lack of penetration in the residential purchaser market may be attributed to the consumer’s lack of knowledge, evidence from Ontario and New Zealand illustrates that title insurance is likely to become an additional cost in the conveyancing process in Australia. In this article we highlight the reasons why, and demonstrate how title insurers have, by working with the legal profession been able to subtly move the risk of responsibility for compensation for loss, (at least in the first instance) from the state to the insurer, but with the added benefit for the state and the conveyancing agents that the cost of the insurance is ultimately borne by the consumer. In New Zealand this development is being accelerated by the introduction of capped conveyancing title insurance. Whether title insurance will become part of the conveyancing process is no longer the relevant question for Australia, (it undoubtedly will), but the unknown issue is just how title insurance companies will work with conveyancing agents to infiltrate the market, and what response this infiltration will have in terms of the state’s view as to their continued role in the provision of assurance. We suggest that developments from New Zealand in relation to capped conveyancing insurance are likely to be replicated in Australia in the near future, and that the state’s role in providing an assurance fund will continue, though the state may seek to expand the areas in which the right to compensation is restricted.

G20 host Australia faces hard truths of multinational profit shifting

The G20 Finance Ministers have the opportunity this weekend to endorse the initial recommendations of the OECD on how to address the global problem of multinational tax avoidance. The work of the OECD on the issue to date is substantial. Most notable is the adoption by many nations, including Australia, of the Common Reporting Standard for the automatic exchange of tax information. This standard will allow significant inroads to be made into tax avoidance, particularly by individuals sheltering money offshore. This is the first step in an ambitious tax reform program. There is a long way to go if we are to end the issue now known as Base Erosion and Profit Shifting (BEPS). This week’s release of the first of the OECD recommendations contains some positive signs that further advances will be made. It also recognises some hard truths.

Building economic capability to improve the management of marine resources in Australia: Final report

FRDC project 2008/306 Building economic capability to improve the management of marine resources in Australia was developed and approved in response to the widespread recognition and acknowledgement of the importance of incorporating economic considerations into marine management in Australia and of the persistent undersupply of suitably trained and qualified individuals capable of providing this input. The need to address this shortfall received broad based support and following widespread stakeholder consultation and building on previous unsuccessful State-based initiatives, a collaborative, cross-jurisdictional cross-institutional capability building model was developed. The resulting project sits within the People Development Program as part of FRDC’s ‘investment in RD&E to develop the capabilities of the people to whom the industry entrusts its future’, and has addressed its objectives largely through three core activities: 1. The Fisheries Economics Graduate Research Training Program which provides research training in fisheries/marine economics through enrolment in postgraduate higher degree studies at the three participating Universities; 2. The Fisheries Economics Professional Training Program which aims to improve the economic literacy of non-economist marine sector stakeholders and was implemented in collaboration with the Seafood Cooperative Research Centre through the Future Harvest Masterclass in Fisheries Economics; and, 3. The Australian Fisheries Economics Network (FishEcon) which aims to strengthen research in the area of fisheries economics by creating a forum in which fisheries economists, fisheries managers and Ph.D. students can share research ideas and results, as well as news of upcoming research opportunities and events. These activities were undertaken by a core Project team, comprising economic researchers and teachers from each of the four participating institutions (namely the University of Tasmania, the University of Adelaide, Queensland University of Technology and the Commonwealth Scientific and Industrial Research Organisation), spanning three States and the Commonwealth. The Project team reported to and was guided by a project Steering Committee. Commensurate with the long term nature of the project objectives and some of its activities the project was extended (without additional resources) in 2012 to 30th June 2015.

(Failed) voluntary euthanasia law reform in Australia: Two decades of trends, models and politics

Within Australia, there have been many attempts to pass voluntary euthanasia (VE) or physician-assisted suicide (PAS) legislation. From 16 June 1993 until the date of writing, 51 Bills have been introduced into Australian parliaments dealing with legalising VE or PAS. Despite these numerous attempts, the only successful Bill was the Rights of the Terminally Ill Act 1995 (NT), which was enacted in the Northern Territory, but a short time later overturned by the controversial Euthanasia Laws Act 1997 (Cth). Yet, in stark contrast to the significant political opposition, for decades Australian public opinion has overwhelmingly supported law reform legalising VE or PAS. While there is ongoing debate in Australia, both through public discourse and scholarly publications, about the merits and dangers of reform in this field, there has been remarkably little analysis of the numerous legislative attempts to reform the law, and the context in which those reform attempts occurred. The aim of this article is to better understand the reform landscape in Australia over the past two decades. The information provided in this article will better equip Australians, both politicians and the general public, to have a more nuanced understanding of the political context in which the euthanasia debate has been and is occurring. It will also facilitate a more informed debate in the future.

Fair values and audit fees: Evidence from asset revaluations in Australia

This paper examines the association between the level of audit fees paid and asset revaluations, one use of fair value accounting. This Australian study also investigates attributes of asset revaluations and the association with the level of audit fees paid. We find that firms choosing the revaluation model incur higher audit fees than those that chose the cost model; asset revaluations made by directors lead to the firm incurring higher audit fees than for those made by external independent appraisers; and revaluation of investment properties leads to lower audit fees. The findings suggest that asset revaluations can result in higher agency costs and audit fees vary with the reliability of the revaluations and the class of assets being revalued.

Workplace training and generic and technical skill development in the Australian construction industry

- Purpose The purpose of this paper is to investigate the current skills gap in both generic and skill areas within the construction industry in Queensland, Australia. - Design/methodology/approach An internet-based survey was administered to collect the opinions of construction employees about the workplace-training environment and their perceptions towards training. The survey intended to address the following research questions, specifically in relation to the construction industry. - Findings The survey results reveal that whilst overall participation in workplace training is high, the current workplace training environments do not foster balanced skill development. The study reveals that in the current absence of a formal and well-balanced training mechanism, construction workers generally resort to their own informal self-development initiatives to develop the needed role-specific theoretical knowledge. - Research limitations/implications The findings of the research are based on the data primarily collected in the construction industry in Queensland, Australia. The data are limited to a single Tier 2 construction company. - Practical implications The findings of this study can be utilised to suggest improvements in the current (or develop new) workplace training initiatives. - Social implications The research suggests that workplace training has positive relationship with career growth. The results suggest that in the construction industry, employees are generally well aware of the importance of workplace training in their career development and they largely appreciate training as being a critical factor for developing their capacity to perform their roles successfully, and to maintain their employability. - Originality/value This paper is unique as it investigates the current skills gap in both generic and skill areas within the construction industry in Queensland, Australia. So far no work has been undertaken to identify and discusses the main method of workplace learning within the Tier 2 industry in the context of Queensland Australia.

Costs and benefits of the presence of leopards to the sport-hunting industry and local communities in Niassa national reserve, mozambique

Sport hunting is often proposed as a tool to support the conservation of large carnivores. However, it is challenging to provide tangible economic benefits from this activity as an incentive for local people to conserve carnivores. We assessed economic gains from sport hunting and poaching of leopards (Panthera pardus), costs of leopard depredation of livestock, and attitudes of people toward leopards in Niassa National Reserve, Mozambique. We sent questionnaires to hunting concessionaires (n = 8) to investigate the economic value of and the relative importance of leopards relative to other key trophy-hunted species. We asked villagers (n = 158) the number of and prices for leopards poached in the reserve and the number of goats depredated by leopard. Leopards were the mainstay of the hunting industry; a single animal was worth approximately U.S.$24,000. Most safari revenues are retained at national and international levels, but poached leopard are illegally traded locally for small amounts ($83). Leopards depredated 11 goats over 2 years in 2 of 4 surveyed villages resulting in losses of $440 to 6 households. People in these households had negative attitudes toward leopards. Although leopard sport hunting generates larger gross revenues than poaching, illegal hunting provides higher economic benefits for households involved in the activity. Sport-hunting revenues did not compensate for the economic losses of livestock at the household level. On the basis of our results, we propose that poaching be reduced by increasing the costs of apprehension and that the economic benefits from leopard sport hunting be used to improve community livelihoods and provide incentives not to poach.

BIOMASS GASIFICATION TO SUBSTITUTE FOSSIL FUEL IN FOOD INDUSTRY

Food industries like biscuit and confectionary use significant amount of fossil fuel for thermal energy. Biscuit manufacturing in India is carried out both by organized and unorganized sector. The ratio of organized to unorganized sector is 60 : 40 (1). The total biscuit manufacturing in the organized sector India in 2008 was about 1.7 million metric tons (1). Accounting for the unorganized sector in India, the total biscuit manufacturing would have been about 2.9 million metric tons/annum. A typical biscuit baking is carried in a long tunnel kiln with varying temperature in different zones. Generally diesel is used to provide the necessary heat energy for the baking purpose, with temperature ranging from 190 C in the drying zone to about 300 C in the baking area and has to maintain in the temperature range of +/- 5 C. Typical oil consumption is about 40 litres per ton of biscuit production. The paper discusses the experience in substituting about 120 lts per hour kiln for manufacturing about 70 tons of biscuit daily. The system configuration consists of a 500 kg/hr gasification system comprising of a reactor, multicyclone, water scrubbers, and two blowers for maintaining the constant gas pressure in the header before the burners. Cold producer gas is piped to the oven located about 200 meters away from the gasifier. Fuel used in the gasification system is coconut shells. All the control system existing on the diesel burner has been suitably adapted for producer gas operation to maintain the total flow, A/F control so as to maintain the temperature. A total of 7 burners are used in different zones. Over 17000 hour of operation has resulted in replacing over 1800 tons of diesel over the last 30 months. The system operates for over 6 days a week with average operational hours of 160. It has been found that on an average 3.5 kg of biomass has replaced one liter of diesel.

Behavior ecology of the Humboldt squid, Dosidicus gigas: insights from an animal-borne video and data logging system

Dosidicus gigas is a large pelagic cephalopod of the eastern Pacific that has recently undergone an unexpected, significant range expansion up the coast of North America. The impact that such a range expansion is expected to have on local fisheries and marine ecosystems has motivated a thorough study of this top predator, a squid whose lifestyle has been quite mysterious until recently. Unfortunately, Dosidicus spends daylight hours at depths prohibitive to making observations without significant artificial interference. Observations of this squid‟s natural behaviors have thus far been considerably limited by the bright illumination and loud noises of remotely-operated-vehicles, or else the presence of humans from boats or with SCUBA. However, recent technological innovations have allowed for observations to take place in the absence of humans, or significant human intrusion, through the use of animal-borne devices such as National Geographic‟s CRITTERCAM. Utilizing the advanced video recording and data logging technology of this device, this study seeks to characterize unknown components of Dosidicus gigas behavior at depth. Data from two successful CRITTERCAM deployments reveal an assortment of new observations concerning Dosidicus lifestyle. Tri-axial accelerometers enable a confident description of Dosidicus orientation during ascents, descents, and depth maintenance behavior - previously not possible with simple depth tags. Video documentation of intraspecific interactions between Dosidicus permits the identification of ten chromatic components, a previously undescribed basal chromatic behavior, and multiple distinct body postures. And finally, based on visualizations of spermatophore release by D. gigas and repetitive behavior patterns between squid pairs, this thesis proposes the existence of a new mating behavior in Dosidicus. This study intends to provide the first glimpse into the natural behavior of Dosidicus, establishing the groundwork for a comprehensive ethogram to be supported with data from future CRITTERCAM deployments. Cataloguing these behaviors will be useful in accounting for Dosidicus‟ current range expansion in the northeast Pacific, as well as to inform public interest in the impacts this expansion will have on local fisheries and marine ecosystems.

Inovação biomédica e o animal não humano em pesquisa: controvérsias científicas e reflexões éticas para contribuição na implementação de políticas públicas de técnicas substitutivas ao uso de animais em pesquisa, ensino e indústria

A experimentação animal é uma prática extremamente incorporada à ciência biomédica moderna, com raízes desde a Antiguidade, mas que foi cada vez mais se desenvolvendo, adquirindo características bem definidas. O animal não humano, no contexto da experimentação, é um ser vulnerado, enclausurado dentro de uma estrutura muito bem definida, que mantém um discurso focado na excelência do modelo do animal na pesquisa e testes, com o objetivo de garantir a manutenção dessas práticas. No entanto, ao analisarmos os dados científicos obtidos com a experimentação animal, que visa primariamente um possível benefício humano, assim como as argumentações éticas relativas ao respeito à vida e ao sofrimento do animal envoltas nesta situação, a argumentação ética prepondera sobre uma base científica cuja eficácia é também extremamente questionável. Partindo de uma análise crítica da aplicação do modelo animal como padrão da pesquisa científica e da concepção ética do reconhecimento da vulnerabilidade do animal não humano na experimentação, propomos que esta reflexão colabore com políticas públicas que incentivem e implementem as técnicas substitutivas ao uso de animais não humanos em pesquisa, testes da indústria e ensino na área biomédica no Brasil.

The History of Oyster Farming in Australia

Aboriginal Australians consumed oysters before settlement by Europeans as shown by the large number of kitchen middens along Australia's coast. Flat oysters, Ostrea angasi, were consumed in southeastern Australia, whereas both flat and Sydney rock oysters, Saccostrea glomerata, are found in kitchen middens in southern New South Wales (NSW), but only Sydney rock oysters are found in northern NSW and southern Queensland. Oyster fisheries began with the exploitation of dredge beds, for the use of oyster shell for lime production and oyster meat for consumption. These natural oyster beds were nealy all exhausted by the late 1800's, and they have not recovered. Oyster farming, one of the oldest aquaculture industries in Australia, began as the oyster fisheries declined in the late 1800's. Early attempts at farming flat oysters in Tasmania, Victoria, and South Australia, which started in the 1880's, were abandoned in the 1890's. However, a thriving Sydney rock oyster industry developed from primitive beginnings in NSW in the 1870's. Sydney rock oysters are farmed in NSW, southern Queensland, and at Albany, Western Australia (WA). Pacific oysters, Crassostrea gigas, are produced in Tasmania, South Australia, and Port Stephens, NSW. FLant oysters currently are farmed only in NSW, and there is also some small-scale harvesting of tropical species, the coarl rock or milky oyster, S. cucullata, and th black-lip oyster, Striostrea mytiloides, in northern Queensland. Despite intra- and interstate rivalries, oyster farmers are gradually realizing that they are all part of one industry, and this is reflected by the establishment of the national Australian Shellfish Quality Assuarance Program and the transfer of farming technology between states. Australia's oyster harvests have remained relatively stable since Sydney rock oyster production peaked in the mid 1970's at 13 million dozen. By the end of the 1990's this had stabilized at around 8 million dozen, and Pacific oyster production reached a total of 6.5 million dozen from Tasmania, South Australia, and Port Stephens, a total of 14.5 million dozen oysters for the whole country. This small increase in production during a time of substantial human population growth shows a smaller per capita consumption and a declining use of oysters as a "side-dish."

Reducing Prawn-trawl Bycatch in Australia: An Overview and an Example from Queensland

Prawn trawling occurs in most states of Australia in tropical, subtropical, and temperate waters. Bycatch occurs to some degree in all Australian trawl fisheries, and there is pressure to reduce the levels of trawl fishery bycatch. This paper gives a brief overview of the bycatch issues and technological solutions that have been evaluated or adopted in Australian prawn-trawl fi sheries. Turtle excluder devices (TED’s) and bycatch reduction devices (BRD’s) are the principal solutions to bycatch in Australian prawn-trawl fisheries. This paper focuses on a major prawn-trawl fishery of northeastern Australia, and the results of commercial use of TED’s and BRD’s in the Queensland east coast trawl fishery are presented. New industry designs are described, and the status of TED and BRD adoption and regulation is summarized. The implementation of technological solutions to reduce fishery bycatch is assumed generally to assist prawn-trawl fisheries within Australia in achieving legislative requirements for minimal environmental impact and ecological sustainable development.

The Oyster Industry of Eastern Mexico

Mexico has an oyster industry of substantial size, ranking about sixth in the world. In 1993, among the top ten oyster producers, Korea, Japan, the United States, China, and France ranked ahead of Mexico, while the Philippines, Australia, Canada, and New Zealand trailed it (Fig. 1). On its east coast, the species landed is the eastern oyster, Crassostrea virginica, while on its west coast C. corteziensis, C. iridescens, and the Pacific oyster, C. gigas, are landed. During the last 10-15 years, annual production often was at least 50,000 t of shelled oysters, or nearly 1.5 million bushels (Anonymous, 1995), with the great preponderance (90%) coming from a series of lagoons connecting with the Gulf of Mexico along the east coast (Fig. 2) and the remainder produced on the west coast.

Competing for the Recreational Dollar: An Analysis of the California Commercial Passenger-Carrying Fishing Vessel Industry

California has a large and diverse marine recreational fishery. Anglers on commercial passenger-carrying fishing vessels (CPFV's) harvest a substantial proportion of California's marine recreational fisheries landings, accounting for about 40 percent and 16 percent of the total 1986 marine recreational catch in southern and northern California, respectively (NMFS, 1987). In 1986, 459,369 CPFV anglers landed some 2,835,021 fish in southern California, while 200,925 CPFV anglers landed 1,240, 100 fish in central and northern California.