Managed Investment Schemes
By: Alan Jessup
About This Book
According to the Australian Bureau of Statistics, as at 30 June 2011 the managed funds industry had approximately $1,824 billion of funds under management. Therefore the managed investment scheme is very important to the Australian economy.Despite this importance, the law concerning the managed investment schemes has historically formed only a small part of the Corporations legislation although the case law interpretation and regulatory involvement has increased exponentially since 2009 following the global financial crisis.Managed Investment Schemes examines the current status of the managed investment scheme taking into account the history and evolution of the scheme and the current law and regulation as well as examining possible future reforms. However this is done not only from a jurisprudential but also from a practical point of view and will therefore be helpful not only to the legal profession and law students but also to industry participants. The author brings together in the book his many years of experience in the industry and provides a handy guide to all participants in the industry.Importantly, because tax is the primary driver of the managed investment scheme, the book also contains a detailed examination of the tax issues involved with the different types of schemes. Following the global financial crisis, there has been increased rationalisation of the industry involving merger and acquisition activity. The book therefore also considers the legal and regulatory issues involved in trust acquisitions as well as the tax and stamp duty consequences of the same.Anyone who is involved in the managed funds industry will find this book an important addition to their library including advisers and participants.
AI Overview
"Managed Investment Schemes" by Alan Jessup is a comprehensive book that examines the current status of managed investment schemes (MIS) in Australia, taking into account their history and evolution. Here is a detailed overview of the book:
Key Themes
- History and Evolution: The book provides a thorough analysis of the development of managed investment schemes, tracing their origins and significant milestones.
- Legal Framework: It delves into the legal framework governing MIS, including corporate law and taxation requirements.
- Types of Schemes: The book covers various types of managed investment schemes, such as property trusts, syndicates, mortgage trusts, mezzanine funds, and agribusiness schemes.
- Taxation and Structuring: It focuses on tax effective structuring for the acquisition, holding, and sale of assets involving various reliefs and exemptions in the law.
- Regulatory Environment: The book discusses the regulatory environment surrounding MIS, including recent legislative changes and their implications.
Plot Summary
The book is not a narrative but a detailed examination of the managed investment scheme landscape. It is structured to provide a comprehensive understanding of the subject matter, covering both theoretical and practical aspects. The content includes:
- Historical context and evolution of MIS.
- Legal and regulatory frameworks.
- Types of MIS and their characteristics.
- Taxation implications and structuring strategies.
- Case studies and examples to illustrate key points.
Critical Reception
While there is no specific critical reception available in the search results, the book's author, Alan Jessup, is recognized as an expert in the field of corporate law and taxation related to managed investment schemes. His expertise and experience in advising on various types of MIS are highlighted in his professional profile. The book's publication by Federation Press suggests it is a reputable and authoritative source in the field of financial services law and MIS.
Additional Information
Alan Jessup is a prominent figure in the legal community, known for his extensive experience in corporate law and taxation. He regularly presents seminars on financial services laws, managed investment schemes, and income tax, further solidifying his expertise in the subject matter.
In summary, "Managed Investment Schemes" by Alan Jessup is a seminal work that provides a thorough examination of the managed investment scheme landscape in Australia. It is a valuable resource for legal professionals, financial advisors, and anyone seeking to understand the intricacies of MIS in the Australian context.