The government also proposed a slew of changes to simplify registering and enforcing personal property interests in a bid to simplify lending for small businesses.
Individuals and businesses fraudulently claiming an interest in others’ personal property will face a tougher watchdog with the power to fine them or grant injunctions under a slew of reforms proposed by the government.
They would also streamline how individuals and businesses lodge interests over personal property by enacting a slew of recommendations from a review into how theThe register enables businesses and consumers to use personal property to secure credit and, while the independent review was completed in February 2015, the Coalition did not act on it while in government despite its 394 recommendations.
As part of the bid to streamline the lodging process, the consultation paper proposes cutting the collateral classes property needed to be registered under from nine, with several subclasses, to just six. It also suggests more clarity around which interests are covered by the legislation.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
How NSW Labor scraped together $13 billion worth of savings after warning of 'tough decisions'The NSW Labor government is managing to project a surplus next financial year, despite complaining about the state of the finances it inherited. While the budget is not full of sweeteners, it is hardly a bitter pill.
Read more »
Australian families ‘can’t afford’ this Labor government: Peter DuttonThere is not one Australian family at the moment who are better off today than they were when the Albanese government took power, says Opposition leader Peter Dutton. “Certainly not one at Western Sydney, that can say they’re better off today than they were 15-18 months ago,” Mr Dutton said. “Mr Albanese is distracted by all sorts of other issues, including the Voice. “Over the course of the last 15 months, he’s prioritised everything but Australian families, small businesses, and in particular, manufacturing. “Australians just can’t afford this Labor government.”
Read more »
'There's a lot to do': Labor defends housing after Speakman tears into NSW BudgetNew South Wales Treasurer Daniel Mookhey has defended the government's housing plans after Opposition leader Mark Speakman slammed 'dodgy figures' he claims have undermined the state's Budget.
Read more »
Labor to entice foreign workers with migration overhaulThe government is planning to ramp up immigration with the biggest overhaul of Australia’s migration system in almost three decades.
Read more »
Labor came to the election with a ‘very clear plan’ around energyFormer Labor advisor Eamonn Fitzpatrick says the Labor government came to the election with a “very clear plan” around renewable energy. Mr Fitzpatrick’s comments come after concerns were raised about climate and the government’s push for net zero by focusing on renewable energy instead of nuclear. “Labor came to the election with a very, very clear plan,” Mr Fitzpatrick told Sky News Australia. “Surely you owe it to the electorate, and you owe it yourself to put your plan in place first – which is exactly what they are doing. “No one ever spoke nuclear back then – the cost is a huge unknown. “There is a plan in place now that is underway, we are looking at renewables and getting as much of that shipped on the way as possible.”
Read more »
Labor urged to include news outlets in social media crackdown to curb ‘dangerous’ misinformationExclusive: Greens and independents say the exemption in disinformation bill will allow falsehoods to spread
Read more »