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When thinking of estate planning most people consider only the most important document, their Wills. But a document that is often overlooked is an Enduring Power of Attorney document (‘EPA’). Despite the importance of this document most individuals delay preparing this document until its too late. An EPA allows you to appoint a trusted person (a family member, friend, or professional (e.g. solicitor or accountant) to legally act on your behalf and make financial and or personal decisions when you are unable to do so yourself (if you lose the capacity) Without a valid EPA in place, your loved ones may face significant difficulties if something unexpected happens and you were suddenly unable to manage your finances or make important decisions. Your family and friends may need to undergo a time-consuming, costly and stressful process of applying through a tribunal or court to be formally appointed to act for you. This is not ideal especially during an already challenging time. Further an EPA ensures that the person chosen as your attorney to make decisions for you is someone you have personally chosen and trust. Just because you have an EPA does not mean you suddenly lose control of managing your own affairs. It simply means that you have planned ahead should your circumstances change with no notice. Whilst you have capacity any decision making for yourself remains your own. It is also important to note that each Australian jurisdiction has its own specific documents that encompasses an EPA. Seeking advice relevant to your location can ensure the correct documents are prepared for you.
New AML/CTF Regulations : A Brief Explanation of Tranche 2 Reforms, Obligations, and How We Can Help
Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) regime is undergoing significant reform, with the long-anticipated “Tranche 2” reforms set to reshape the regulatory landscape. What Are the Tranche 2 Reforms? Since the introduction of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, Australia’s AML/CTF regime has applied primarily to financial institutions, gambling providers and certain remittance services. Tranche 2 reforms will extend these obligations to additional high-risk sectors, including legal practitioners, accountants, trust and company service providers, real estate professionals and dealers in precious metals and stones. Key Compliance Obligations Entities newly captured under Tranche 2 will be required to: Enrol and register with AUSTRAC from 31 March 2026. Develop and maintain a compliant AML/CTF Program before 1 July 2026. Undertake customer due diligence (CDD), including identification and verification of clients and beneficial owners. Conduct ongoing customer monitoring. Report suspicious matters, threshold transactions and annual reports on an ongoing basis; and Maintain appropriate records and governance controls. Increased Regulatory Scrutiny and Enforcement AUSTRAC has demonstrated a willingness to take strong enforcement action against non compliant entities in recent years. With the expansion of the regime, newly regulated sectors can expect heightened supervisory engagement, including audits and enforcement proceedings where serious deficiencies are identified. Preparing for the Transition Although transitional periods are anticipated, affected businesses should begin preparing now. Early action may include conducting preliminary risk assessments, mapping services against designated activities, reviewing client onboarding procedures, and engaging external advisors to assist with program design and implementation. The Tranche 2 reforms represent one of the most recent substantial expansions of Australia’s financial crime regulatory framework. For many organisations, compliance will not simply be a box-ticking exercise, but a fundamental operational adjustment. How Can We Help? At CJM Lawyers, we have been closely monitoring the evolving AML/CTF regime for years through our experience in advising Tranche 1 entities of their compliance obligations. Our team can assist with risk assessments, AML/CTF program development, governance reviews, and regulatory engagement to ensure your organisation remains compliant. In a rapidly changing legal and regulatory landscape, proactive and ongoing advice is essential — and we are here to help you stay regulated, protected and prepared. Arrange for a meeting with a member of our experienced regulatory compliance team to see how we can help you navigate this new area with confidence.
Preparing a Contract for Sale of Land in NSW is a critical step in any property transaction. For vendors, the contract sets the legal framework for the sale and defines the rights and obligations once contracts are exchanged. Errors or omissions at this stage can expose a vendor to issues such as delays and disputes. In NSW, a property cannot be marketed for sale without a draft Contract for Sale. The contract must include prescribed documents, also known as vendor disclosure documents. These include: a current title search; a plan of the land; relevant dealings affecting the land; a Council Planning (section 10.7) Certificate; and a sewerage diagram. Depending on the property, additional documents may be required, such as strata records, pool compliance or non-compliance certificate or notices affecting use or development. The consequences of missing disclosure documents can be significant. A purchaser may have a statutory right to rescind the contract within 14 days after exchange if certain prescribed documents are not included, which can result in a sale being terminated even where price and key terms have been agreed. It is also important that proper special conditions are drafted. These can address things such as potential property issues, manage tenancy arrangements and tailor settlement terms. Poorly drafted or missing conditions often lead to disputes, which can cause delays in settlement, prompt renegotiation or allow the purchaser to rescind the contract. Timing is also important. Preparing the contract early allows potential issues to be identified before a property is listed. This reduces pressure during negotiations and helps avoid last minute amendments that can unsettle a transaction or lead to a purchaser withdrawing. CJM Lawyers assists vendors across NSW with the preparation of Contracts for Sale of Land, ensuring that disclosure obligations are met and that the contract accurately reflects the property and the vendor’s position. We provide practical advice on risk management, special conditions and settlement planning. A well prepared contract is the foundation of a smooth property sale. Early legal advice can reduce risk, protect value and support a timely settlement. If you would like advice on preparing a Contract for Sale, contact the CJM Lawyers NSW property team.
