Stamp duty on redemption of units

Article Abstract:

The stump duty payable on redemption of units in a private trust in South Australia is discussed. The Full Court of the Supreme Court of Australia ruled that redemption of units constituted a surrender of the beneficial interest previously held by the redeeming unitholder. In said case, "surrender" was taken in a non-technical sense of "giving it up or yielding it up." It follows that where a redemption takes places not by the request not with the consent of the unitholder and entirely at the discretion of he trustee, there is no surrender nor renunciation.

Tariffs & Duties, Analysis, Australia, Laws, regulations and rules, Financial instruments, Stamp-duties, Stamp duties

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Choosing an exchange-rate system

Article Abstract:

The focus of academic discussions on exchange rate systems in international economic policy since 1979 has undergone major changes. Attention in discussions of alternative exchange rate systems among scholars in the late 1990s has shifted to issues such as the credibility of monetary/fiscal policies, the strength/stability of the US financial system and alternative commitment mechanisms for policymakers. It is argued that a system of freely floating exchange rates is more desirable than an attempt to peg the exchange rate.

Currency Stabilization Programs, Foreign Currency Management, Management, Foreign exchange, Currency stabilization, Foreign exchange market, International liquidity

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The determinants of the duration of commercial bank debt renegotiation for sovereigns

Article Abstract:

Duration models are used to evaluate factors which affect the amount of time involved in commercial bank rescheduling for sovereigns. The models enable the identification of factors responsible for delays in sovereign debt rescheduling. The models demonstrate that the length of the first part of the rescheduling procedure, which involves major creditor banks and debtor nations, is markedly influenced only by the degree of rescheduling.

Foreign Loans-Banks, Models, External debts, Foreign loans, Sovereign debt market, Bank loans

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