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Inside track: Property & Real Estate

08 April 2019

#Property & Real Estate

Inside track: Property & Real Estate

In the media


Home values continue to cool but selling days begin to shorten
Home values slipped mostly around the country, but held steady in one capital city, according to the latest CoreLogic data. Combined, the daily home value index fell by 0.2 of a percentage point in the week ending 24 March. Houses remained more popular than units, and the average time for houses on market continued to remain high in most capital cities (26 March 2019).  More...

Why developers are delaying or abandoning half the apartments they planned to build
The oversupply of apartments is starting to bite, with 40,000 jobs lost and abandoned projects piling up. But it's likely to get worse before it gets better (21 March 2019).  More... 

PCA: Five-point plan for prosperity, jobs and strong communities
The Property Council of Australia policy platform for the 2019 federal election sets out a five-point plan for prosperity, jobs and strong communities and has proposed a comprehensive range of policy initiatives (27 March 2019).  More...

Unfair strata rules need to be changed to enable sustainability upgrades in apartments
Although most of the conditions are now right for sustainability upgrades to strata buildings, Green Strata president Christine Byrne says there are still major regulatory and cost barriers stopping these retrofits (28 March 2019).  More...

Why developers are delaying or abandoning half the apartments they planned to build
The oversupply of apartments is starting to bite, with 40,000 jobs lost and abandoned projects piling up. But it's likely to get worse before it gets better (21 March 2019).  More... 

'We are really ramping it up now': Tax man targets property investors, Airbnb
The Australian Taxation Office will undertake 4,500 audits of taxpayers it considers are "high risk" because they over claim or don't declare income relating to rental properties (20 March 2019).  More...  

A plan for Australia's future population
The Government’s population policy includes investing $75 billion in road, rail and air infrastructure across the country and more in congestion-busting infrastructure through the $1 billion Urban Congestion Fund (20 March 2019).  More...

PCA: Focus on good growth, not preventing it
Australia’s policy-makers and planners need to focus on delivering good growth, especially in our major cities, rather than looking for ways to prevent it. Recent research by the Property Council found an overwhelming majority of Australians believed growth can be good if its managed properly, notwithstanding the growing pains they are feeling in our major cities (20 March 2019).  More...


Developer on track to build $5bn smart city
Developer Celestino’s plans are on track to develop Australia's first smart city, Sydney Science Park located in Western Sydney. Pegged as Australia’s “first smart city”, the greenfield development is expected to become home to more than 100,000 people (29 March 2019).  More...

Freight company fined following dangerous goods safety checks in Newcastle
The NSW Environment Protection Authority (EPA) has fined freight company Vellex Pty Ltd $8000 after one of its contracted trucks allegedly failed to comply with the safety requirements for its load of flammable liquids in Newcastle (28 March 2019).  More...

A few ‘Quick Wins’ could improve NSW planning system: report
It is often derided as the worst planning system in the country, but a few “quick fixes” could help the NSW planning system resolve some systemic issues, new research suggests (26 March 2019).  More...

Sydney still in top ten in global city wealth index
Sydney has come in at sixth place for investment, and eighth overall according to the latest 2019 City Wealth Index which measures global cities by three categories: wealth, lifestyle and investment (26 March 2019).  More...

GSC on why we can’t leave city planning to the efficiencies of the market
The great motivator, in leading the Greater Sydney Commission, is the faith that has been placed in our hands with the vital work of shaping the city for a liveable, productive and sustainable future. Identifying the challenges confronting Greater Sydney within these broad arcs, and planning the responses to them, is a privilege and one we take extremely seriously (26 March 2019).  More...

'Well below expectations': Sydney's hotels offer cold comfort to tourists
Sydney's hotels are not meeting the demands of international visitors (24 March 2019).  More...

Angry shell cove estate residents fear promised water views will be lost
Residents of a NSW housing development say they are considering a class action after developers decide to modify plans and add more dwellings to their estate (22 March 2019).  More...

Waste offence committed negligently costs director $58k
A director of a company that illegally stored waste, including asbestos, has been convicted and fined $33,750 and ordered to pay $24,500 in legal costs by the NSW Land and Environment Court, following a successful prosecution by the NSW Environment Protection Authority (EPA) (20 March 2019).  More... 

Greiner called in to catch another fish market deal
If the state government succeeds in building a replacement fish market, it will have done so in the face of significant obstacles (19 March 2019).  More...

Sydney launches challenge to diversify housing
The City of Sydney has launched a challenge to develop innovative new ways to make Sydney’s housing more diverse and affordable. By encouraging new ways of thinking about housing across financing, management and design, the Alternative Housing Ideas Challenge aims to identify and develop new models to increase affordable housing supply (19 March 2019).  More...

Multiple fines issued for alleged illegal dumping at Leppington
The NSW Environment Protection Authority (EPA) has issued $39,000 in fines to three individuals and a company for alleged illegal dumping of over 100 tonnes of building and demolition waste containing asbestos, on a suburban block at Leppington, unloading the material during daylight hours (19 March 2019).  More... 


Review to cut red tape in planning and building
The Housing Industry Association (HIA) welcomes the Victorian Government’s announcement that it will be undertaking a review of State and Local Government processes surrounding planning and building (28 March 2019).  More...

Property council welcomes minister's commitment to city deals
The Minister identified the need to make regional cities more accessible and laid out the Government’s Plan “to build more congestion-busting infrastructure and fast rail to our regional cities to support decentralisation (27 March 2019).  More...

Delivering housing diversity in the inner west
Civil construction has started on the ‘Alfie’ residential development project in Altona North, which is set to deliver diverse and affordable housing in Melbourne’s inner west (27 March 2019).  More...

Council refuses permits for supersized advertising
The City of Melbourne has refused 81 applications by JCDecaux for planning permits to display commercial advertising on public phone booths across central Melbourne (25 March 29189).  More...

Moonee Ponds creek could be getting a major revitalisation
The City of Melbourne has announced plans to revitalise the southern part of Moonee Ponds Creek with the possibility of additional parklands, wetlands and new open spaces. Described as one of Melbourne’s "worst planning disasters" by the Planning Institute of Australia in 2011, Moonee Ponds Creek has been struggling with its lifeless waterways and extremely polluted water (21 March 2019).  More...

CityLink toll hike costs revealed under report on West Gate tunnel deal
By 2045, Melbourne drivers will pay nearly $100 extra a week to regularly use CityLink under the Victorian Government's plan for toll increases on the roadway, analysis shows (19 March 2019).  More...

Commissioner presents 20 environmental recommendations for Victoria’s future
The five-yearly Victorian State of the Environment (SoE) 2018 report was publicly released on 19 March 2019. The SoE report is an environmental report card on the health of Victoria’s environment every five years (19 March 2019).  More...


Community invited to have their say on Yeronga PDA
The Yeronga community is invited to have their say on a proposed development scheme for a mixed-use precinct in the Yeronga Priority Development Area (PDA) (29 March 2019).  More...

New chair for Queensland investment corporation
Mr Ian Martin has been appointed as the new Chair of the Queensland Investment Corporation (QIC), Deputy Premier Jackie Trad said today (29 March 2019).  More...

History of Nudgee bungalow to be investigated after development ban approved
A 1900s bungalow that potentially has heritage value will be placed under a two-year protection order to prevent any demolition or development works while Brisbane City Council investigates its history  and whether it should be protected from development (28 March 2019).  More...

Confidence returning to inner Brisbane apartment market
Brisbane's apartment pipeline, which suffered throughout 2018, looks to have turned a corner thanks to the improving conditions which will bring the city’s apartment supply into balance (28 March 2019).  More...

New national urban management plan for resilient cities of the future
Researchers from The University of Queensland have helped to develop a four-point plan to create more sustainable, liveable, prosperous and resilient cities. The national urban management plan aims to embed water-sensitive approaches into future urban planning for Australian cities and towns (27 March 2019).  More...

New Farm agency fined $26,500 for failing to lodge audit reports
LJ Hooker New Farm real estate agents Andrew William Clough and Brett William Greensill and their companies were ordered to pay $26,500 in fines by the Brisbane Magistrates Court today (22 March 2019) for failing to lodge multiple trust account audit reports.  More...

Development update: $67m Springfield Central Sports Complex
A $67 million sporting development in Greater Springfield, an urban growth corridor located south west of Brisbane’s metropolitan area, is on track to open this year. The developer says Greater Springfield is Australia’s first master planned greenfield city since Canberra (20 March 2019).  More...

Published – articles, papers, reports

Australian Bureau of Statistics – 19 March 2019
Residential Property Price Indexes: Concepts, Sources and Methods, 2018 (cat no. 6464.0)
Residential Property Price Indexes: Eight Capital Cities, Dec 2018 (cat no. 6416.0)

Climate change and director's duties: Supplementary memorandum of opinion
Noel Hutley, Sebastian Hartford-Davis; Centre for Policy Development: 29 March 2019
This memorandum provides an update to a 2016 legal opinion on how Australian law requires company directors to consider, disclose and respond to climate change.  More...

Understanding specialist disability accommodation funding
Andrew Beer, Kathleen Flanagan, Julia Verdouw, Braam Lowies, Elizabeth Hemphill, Gina Zappia
Australian Housing and Urban Research Institute: 21 March 2019
This study questioned developers, investors, housing providers, prospective tenants and governments on how the SDA program will generate new supply that meets the needs and preferences of people with disability.  More...

Planning for Australia’s future population
Government of Australia: 20 March 2019
This strategy document considers population growth and regional development in Australia.  More...

In practice and courts


GBCA important deadlines - Green star certification for your project
Many project teams have timelines set around major events. To support this, these guidelines below (based on typical time frames), which specify the deadlines you’ll need to meet in order to have your project certified in time for key milestones in 2019.  More...

Planning for Australia’s future population: Government of Australia
This strategy document considers population growth and regional development in Australia. Better population planning will help overcome capacity constraints and congestion pressures in Australia’s biggest cities. This will be a key focus of the government going forward with major investment in infrastructure right across Australia (20 March 2019).  More...

NABERS update and CBD Legislation review - have your say!
NABERS has achieved $400m in energy bill savings since 2010 – rates 81% of Australia’s office space and has saved over 800,000 tonnes of CO2 emissions – but would expansion of legislation requirements be reasonable for the industry and the community and what is the cost/benefit balance? Consultation dates have been set for February and registration will be available shortly here.  More...

Announcements, Draft Policies and Plans released 2019

NSW Land and Environment Court
Volume 11 Issue 1 (February 2019) of the Court's Judicial Newsletter is now available (25 March 2019).

NSW Courts
21 March 2019 Updated Practice Note issued: Real Property List

City of Sydney: Working together to reduce strata stress
A series of free workshops in English and Chinese will help both strata-dwelling owners and renters tackle issues including pets, levies and noisy neighbours. The City of Sydney's strata skills workshops from 2 April to 18 June will be led by a series of industry professionals.

City of Sydney: Alternative housing idea challenge
The community will have the opportunity to provide feedback on the short-listed concepts as part of the City’s consultation to shape Sydney 2050. The Alternative Housing Ideas Challenge will open on Tuesday 26 March and close on 8 May 2019.  More...

Community participation plan updated FAQs
The Environmental Planning and Assessment Act 1979 has been updated to make community participation central to the planning system. Supporting this objective is a new measure requiring all public authorities that have planning functions under the EP&A Act, including councils, to develop community participation plan (CPP). CPPs must be finalised and published on the ePlanning portal by 1 December 2019. The link to the FAQs is here.

NSW OEH: $16 million in funding for NSW manufacturers facilities
For  manufacturers as part of the NSW Government Energy Saver program to help them save energy, money and stay competitive globally. The first round of funding closes on 30 June 2019. More information on the program is available at Manufacturing efficiency funding.


Land Court: Pilot case management directions for land valuation appeals
The Land Court has released new ‘Case management directions for land valuation appeals’ taking effect from 18 March 2019. The Court’s management of land valuation appeals will now coincide with the new case management directions. The pilot will be evaluated one year after commencement.

Queensland's new waste management and resource recovery strategy
A Community Summary has been developed to provide simple actions to help Queenslanders reduce their own waste, boost recycling and reduce the impact of rubbish in our natural environment.
The draft Waste Management and Resource Recovery Strategy and the Community Summary are open for public submissions which closed on 5 April 2019.  More...

Environmental offsets framework discussion paper
A discussion paper on Queensland’s environmental offsets framework has been released by the State Government, aimed at seeking community and industry feedback on the policy’s effectiveness. While the Environmental Offsets Act 2014 proposes to simplify and regulate the offsets framework. The review is seeking responses in relation to five key areas. Consultation on the discussion paper closes on 15 April 2019.

Department of State Development Consultations
SDA application for a material change of use in the Gladstone State Development Area Closed 04 April 2019.



Lanciana v Alderuccio [2019] VSC 198
REAL PROPERTY — Caveats — No reasonable cause — Compensation — solicitor lodging the caveat — whether liability under s 118 of the Transfer of Land Act 1958 extends to solicitors lodging a caveat with the Registrar without reasonable cause on behalf of a client — Whether solicitor “a person” lodging a caveat — Solicitor not “a person” lodging a caveat — Gordon v Treadwell Stacey Smith [1996] NZCA 110; [1996] 3 NZLR 281 — Windlock Pty Ltd v Davidovic [2014] NSWSC 269 — Arkbay Investments Pty Limited (In Liquidation) (Receivers and Managers appointed) v Echelon Property Management Pty Ltd (No 2) [2014] NSWSC 572.

Haichkay Pty Ltd v Sacco [2019] VSC 196
PRACTICE AND PROCEDURE – Summary judgment – Plaintiff seeks summary judgment against defendant – Whether defendant has real prospect of success on her defence – Civil Procedure Act 2010 (Vic), ss 61 and 63 – Lysaght Building Solutions Pty Ltd v Blanalko Pty Ltd [2013] VSCA 158; (2013) 42 VR 27 – National Credit Code (Schedule 1 to the National Consumer Credit Protection Act 2009 (Cth)) does not apply – Jams 2 Pty Ltd & Ors v Stubbings (No 3) [2019] VSC 150 applied – Application granted. Orders sought by the plaintiff include possession of the land situated in Farrell Street, Frankston, Victoria, and the alternative, the plaintiff seeks orders for the repayment of $490,000.

Kuipers v Harrington (No 2) [2019] VSC 190
CAVEAT – Removal – Caveator lodging caveat claiming an interest in land as chargee – Caveat lodged without proper basis – No serious question to be tried – No interest of supporting caveat lodged – Balance of convenience favours removal of caveat in any event – Goldstraw v Goldstraw [2002] VSC 491; Piroshenko v Gosjman [2010] 27 VR 489; Percy & Michele Pty Ltd v Gangemi [2010] VSC 530; Sylina v Solanki [2014] VSC 2; Carbon Black Pty Ltd v Launder [2015] VSCA 126 referred to.
COSTS – Indemnity costs – Whether first defendant should pay the plaintiff’s costs on an indemnity basis – Caveat not having a proper basis, costs awarded against the first defendant on an indemnity basis – Goldstraw v Goldstraw [2002] VSC 491; Love v Kempton [2010] VSC 254; Sovereign MF Ltd (In liq) v EOS Janus Holdings Pty Ltd referred to.

Hermiz v Yousif [2019] VSC 160
CAVEAT – Removal of caveat – Caveat lodged by person claiming interest by virtue of an implied, resulting or constructive trust – Caveat inhibiting settlement of sale of property– Caveat lodged without proper basis – No serious question to be tried established – No adequate interest in the property capable of supporting the caveat lodged – Balance of convenience favours the removal of the caveat in any event – Goldstraw v Goldstraw [2002] VSC 491; Piroshenko v Gosjman [2010] 27 VR 489; Percy & Michele Pty Ltd v Gangemi [2010] VSC 530; Sylina v Solanki [2014] VSC 2; Carbon Black Pty Ltd v Launer [2015] VSCA 126 referred to.
COSTS – Indemnity costs – whether defendant should pay the plaintiff’s costs on an indemnity basis – Caveat not having a proper basis, costs awarded against the defendant on an indemnity basis – Goldstraw v Goldstraw [2002] VSC 491; Love v Kempton [2010] VSC 254; Sovereign MF Ltd (In liq) v EOS Janus Holdings Pty Ltd referred to.

Grech v Richardson (Building and Property) [2019] VCAT 363
PROPERTY LAW ACT 1958: respondent gifted his fiancée (the applicant) a half share in an apartment; after their relationship ended the applicant refused to leave the property as requested and brought this proceeding under Part IV of the Property Law Act 1958 seeking orders for sale and division of the proceeds between co-owners; respondent counterclaimed seeking declarations that the gift was a conditional gift made in contemplation of marriage and as the marriage had not occurred the gift should be set aside; alternative claim for a declaration that applicant held her interest in the property on trust for the respondent; claims also made on basis the applicant exerted undue influence over the respondent and acted unconscionably; further claim made for an order for an amount equivalent to rent. 


Watson v State of Queensland [2019] QLC 19
ABORIGINAL AND TORRES STRAIT ISLANDER PEOPLES – HERITAGE PROTECTION – OTHER STATES AND TERRITORIES – where the applicant sought an interlocutory injunction preventing development works – where the respondent sought to have the application struck out for lack of standing – where the application was not brought by an Aboriginal cultural heritage body for the area – where the application was dismissed for lack of standing
ABORIGINAL AND TORRES STRAIT ISLANDER PEOPLES – HERITAGE PROTECTION – OTHER STATES AND TERRITORIES – where the applicant sought orders that the State enter into a cultural heritage management plan with the new corporation – where the State had entered a Cultural Heritage Agreement with the existing Aboriginal cultural heritage body for the area – where the applicant submitted it was likely that the Aboriginal cultural heritage body be registered as a new corporation for part of the area for the purposes of the project – where it was held the Court did not have the jurisdiction to make orders requiring parties to enter into a cultural heritage management plan. Aboriginal Cultural Heritage Act 2003 Qld s 4, s 5, s 6, s 14, s 23(3), s 24(2), s 25(2), s 26(2), s 36(3), s 161; Land Court Act 2000 Qld s 32H.

Council of the City of Gold Coast v Ashtrail Pty Ltd & Anor [2019] QPEC 12
ENFORCEMENT PROCEEDINGS – where applicant is the relevant local authority – where first respondent conducts various uses on the subject land – where second respondent is the owner of the land – where first respondent at the benefit of a negotiated decision notice approving certain uses on the land – where among other conditions of approval included substantial financial contributions for infrastructure (the infrastructure charges) – where respondents have failed to meet various conditions imposed including the infrastructure charges – where the local authority seeks enforcement of the conditions imposed including the infrastructure charges.
WHETHER DEVELOPMENT APPROVAL REQUIRED – where first respondent alleged that the subject development approval was not required because the relevant use being conducted on the land was an existing lawful use protected by legislation – where Environmental Relevant Activity approval was not required because any workshop activities being conducted on the land were ancillary to the existing lawful use and were otherwise of a de-minimis nature
WHERE FIRST RESPONDENT SAYS THE USE THE SUBJECT OF THE DEVELOPMENT APPLICATION HAD NEVER COMMENCED. WHERE RESPONDENTS ALLEGE RELIEF SOUGHT NOT OTHERWISE AVAILABLE – where respondents assert the local authority was not entitled to relief sought because of defences under the Act’s Interpretation Act 1954 as a consequence of the local authority not prosecuting the proceeding as soon as possible – where respondents assert that the proceeding ought properly be characterised as an action for the recovery of debt which is statute-barred pursuant to s 10 of the Limitation of Actions Act 1974
WHETHER THERE HAD BEEN A MATERIAL CHANGE IN USE OF THE LAND – where local authority asserts that there had been a material change of use as a consequence of the intensification of one of the uses being made on land
DISCRETION – where respondents assert that in the event that the local authority was otherwise entitled to the relief sought there were strong discretionary grounds for refusing that relief being – delay on the part of the local authority in prosecuting the proceeding – where prejudice to the community resulting from non-compliance had not been demonstrated – where it was not demonstrated that the infrastructure charges were relevant and/or reasonable – where enforcement would cause the respondents into insolvency thereby causing material detrimental impacts of a public nature.

Bennington & Ors v Sunshine Coast Regional Council & Anor [2019] QPEC 11
ENVIRONMENT AND PLANNING – APPEAL AGAINST APPROVAL OF DEVELOPMENT APPLICATION– where the co-respondent sought and obtained approval from the respondent for a material change of use to develop a service station and two convenience restaurants – where the appellants made a submission about the development application to the respondent – where the respondent and co-respondent concede that the proposed development conflicts with Maroochy Plan 2000 – whether the conflict is significant and serious – whether there are sufficient grounds to justify the decision despite the conflict with the planning scheme

Pioneer Australia Pty Ltd & Anor v Quinn [2019] QSC 72
INTERPRETATION – GENERAL RULES OF CONSTRUCTION OF INSTRUMENTS – COMMERCIAL AND BUSINESS TRANSACTIONS – PARTICULAR TRANSACTIONS – where the amount payable was in dispute – where there were two alternative interest rates applicable to the deed – where the deed was varied by subsequent agreement – where the later deed was silent as to whether simple or compound interest applied – where it was disputed the proper construction of the later deed was that interest was to capitalise monthly – where a rebate scheme to incentivise payment was introduced in the later deed – whether the amount payable on the loan at the time of sale had been correctly calculated
REAL PROPERTY – VALUATION OF LAND – METHODS OF VALUATION – HYPOTHETICAL SALE CONCEPT – where the two expert valuers diverged significantly in their valuation of the subject land – where the experts disagreed on the potential development of the land – where one expert had made errors in methodology which affected the credibility of their evidence – whether the land was sold at an undervalue

Cases to 25 March 2019

Geldard v Western Downs Regional Council [2019] QLC 17
REAL PROPERTY – RATES AND CHARGES – RATING OF LAND – CATEGORIES OF LAND – where local government has implemented differential general rates – where land owner appeals against decision of local authority on the land owners objection to a rating category for the land – where statutory provisions contemplate categories may be changed from time to time – where respondent uses its own policy to categorise land – where the subject land is used for grazing purposes and burdened by petroleum leases.

Johnston v Banana Shire Council & Anor [2019] QPEC 8
PLANNING AND ENVIRONMENT – APPEAL – appeal against approval of a development application for an integrated Caravan Park and Accommodation Village
ASSESSMENT – whether proposed conditions are an unreasonable imposition on the development – whether the proposed conditions are reasonably required.



Product Emissions Standards Amendment (Supply Date) Rules 2019
28/03/2019 - This instrument amends the Product Emissions Standards Rules 2017 to delay the commencement of the offences relating to the supply of emissions controlled products for 12 months until 1 July 2020.

Seas and Submerged Lands Amendment Proclamation 2019
26/03/2019 - This instrument amends the Seas and Submerged Lands Act 1973 - Proclamation under section 10B (26/07/1994) to revise the limits of Australia's exclusive economic zone in the Timor Sea.


Environmental planning instruments
Bega Valley Local Environmental Plan 2013 (Amendment No 31) (2019-156) — published LW 29 March 2019
Queanbeyan Local Environmental Plan (South Tralee) 2012 (Amendment No 3) (2019-155) — published LW 29 March 2019
Yass Valley Local Environmental Plan 2013 (Amendment No 4) (2019-154) — published LW 29 March 2019


No 7: Transport Legislation Amendment (Better Roads Victoria and Other Amendments) Act 2019
Date of assent: 26 March 2019
No 8: West Gate Tunnel (Truck Bans and Traffic Management) Act 2019
Date of assent: 26 March 2019

Water and Catchment Legislation Amendment Bill 2019
Date of second reading speech: 20 March 2019
Sale of Land Amendment Bill 2019
Date of second reading speech: 21 March 2019

Victorian legislation can be accessed here.


Bills updated
Safer Waterways Bill 2018
Introduced by: Mr S Knuth MP on 21/03/2018
Stage reached: 2nd reading adjourned on 26/03/2019
Land, Explosives and Other Legislation Amendment Bill 2018
Introduced by: Hon A Lynham MP on 15/02/2018
Stage reached: Passed with amendment on 26/03/2019
Nature Conservation (Special Wildlife Reserves) and Other Legislation Amendment Bill 2018
Introduced by: Hon L Enoch MP on 15/02/2018
Stage reached: Passed with amendment on 27/03/2019

Subordinate legislation as made
No 30 Queensland Building and Construction Commission (Minimum Financial Requirements) and Other Legislation Amendment Regulation 2019 22/03/2019
No 31 Nature Conservation (Protected Areas Management) (D’Aguilar National Park) Amendment Regulation 2019 22/03/2019
No 32 Queensland Heritage Amendment Regulation 2019 22/03/2019
No 33 Waste Reduction and Recycling (Waste Levy) Amendment Regulation 2019 22/03/2019


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The information in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, we do not guarantee that the information in this newsletter is accurate at the date it is received or that it will continue to be accurate in the future.

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