Australia: Banking & Finance Update – January 2006
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Gadens Lawyers has identified a number of problems with the proposed amendments to the Land Title Act (Qld) 1994. A fundamental problem is the prescribed process of checking identification needs to be clarified. As a $1,500 penalty applies for each non-compliance, clarity is essential. The amendments are intended to address the rising incidence of identity fraud in relation to mortgages. The amendments are expected to commence in February 2006…. |