Melbourne Law School - Theses
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ItemInteraction between commercial & legal aspects of project finance in Australasia( 1997)The project finance technique emerged as a result of legal principles evolving to meet commercial needs. Its value - enabling companies to fund projects on other than their own credit standing and to diversify risks associated with projects - has been proved by a remarkable string of major developments which were unlikely to have been undertaken without such a financing method. Over the years, the technique has been adapted to a range of applications and industries. One of its most recent uses has been in private sector development of public infrastructure projects. It is in this climate of continued need for project financing that this thesis seeks to examine its development to date, its strengths and its weaknesses, and to consider what changes, if any, are needed to ensure its continued usefulness in the future. The growing body of work known as 'economic analysis of law' is used as a key to understanding these issues and to suggest possible ways forward. Risk is identified as being central to the project financing process. Its identification, allocation and mitigation are the building blocks of the technique. Parties trade risks and contractual arrangements are put in place to give effect to these compacts. These contracts have often been creative, responding to the commercial requirements of the particular development and the parties involved. Novel processes have been devised to deal with cases of project or operator failure, providing self governing and self executing regimes for the developments. These self contained mechanisms are a response to the fact that court adjudication of disputes in these transactions is often inappropriate. The sophistication of these arrangements, however, has also resulted in significant transaction costs. Lengthy and complex documentation is characteristic in these financings. The costs begin at the outset of the transaction in the time and money involved in negotiating documentation and, on an on-going basis, arise through the significant reporting burden usually imposed on borrowers and the restrictive provisions which require continual lender involvement in project decision making. The lengthy, detailed documentation provides the project management regime as it usually stipulates in great detail how the project is to be operated and what the borrower can and cannot do. However, the very long terms of these financings (at times 17 or 18 years), mean that parties are unlikely to succeed in anticipating and dealing comprehensively with every imaginable contingency. The use of such lengthy, detailed documentation will, therefore, be reviewed and a theoretical analysis presented of why project participants have adopted this strategy. This thesis also recommends alternative strategies for structuring the project finance relationship. The optimal solution for any project should still be determined on the specific circumstances on the case and is likely to combine elements of the current approach with some of the proposals suggested.
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ItemInsurable interest, indemnity and third party rights under general contracts of insurance and the Insurance Contracts Act 1984 : a comparative study( 1997)On 1 January 1986 a new era dawned for the development of insurance law in Australia, for on that day the provisions of the Insurance Contracts Act 1984 (Cth) (hereafter referred to as 'the Act') came into operation. Section 3 of the Act repeals for Australia certain Imperial Acts including the Life Assurance Act 1774, the Fires Prevention (Metropolis) Act 1774 and the Marine Insurance Act 1788. In so far as contracts of general insurance) can be governed by the laws of the Commonwealth of Australia, this repeal brought to an end a period of development of insurance law relating to:- a.. the concept of insurable interest; b. the principle of indemnity; and c. the rights of, and the classes of, persons entitled to make claims under contracts of general insurance. That development had commenced prior to the passage of the repealed Imperial Acts, but had been accelerated by, and as a result of, their passage. In Part III the Act lays down new rules with respect to the concept of insurable interest. Moreover, by sections 44, 45, 48, 49 and 76 certain material alterations are made to the law relating to: - a. the principle of indemnity; and b. the rights of, and the classes of, persons entitled to make claims under contracts of general insurance. In this thesis I propose to investigate and describe the law relating to:- a. insurable interest; b. the principle of indemnity; and c. the right of, and the classes of, persons entitled to make claims under contracts of general insurance, 1. as it had developed prior to the passage of the now repealed Imperial Acts, and their precursors; 2. as it developed after the passage of the now repealed Imperial Acts until the date of their repeal; 3. as it has been affected by the repeal and the new regime provided by the Act; and 4. as it is likely to develop in the future. Furthermore I propose to draw a comparison with the laws operating in the Netherlands, France and Germany at the relevant times to ascertain whether, and to what extent, such laws influenced the English law or were influenced by it. Finally the laws presently operating in those countries will also be examined by me to consider whether any, and if so which, recent continental developments might be useful, as indicating a solution to problems likely to face Australian Courts in the immediate future.
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ItemThe status of clergy of the Anglican Church of Australia: employees or office holders?( 1997)The acceptance of the traditional view that clergy are the holders of an office has been the subject of challenge over past years and is increasingly being challenged nowadays. In particular, there have been claims by clergy and their dependents for worker's compensation benefits, claims by clergy for wrongful or unfair dismissal and claims by third parties alleging vicarious liability on the part of the Church. Changes in technology, among other matters, have led to an increase in the number of employees who work from a home office. When the remuneration, associated fringe benefits and other entitlements received by clergy are taken into account, it appears that there is little difference between the employee working from a home office and clergy holding parish appointments. This thesis re-considers the status of clergy in the Anglican Church of Australia. There is considered first the administration of the Anglican Church of Australia. This is followed by a consideration of the concept of employment and the concept of an office. Associated with this consideration are two matters which require specific examination. The first of these is the incidence of income tax. Most clergy have income tax deducted at source in accordance with the 'pay as you earn' provisions of the relevant legislation. Yet, these provisions are applicable only to employees. The issue which arises, and which is examined, is whether by participating in this method of payment of income tax clergy are estopped from denying an employment status. It is concluded that both in law and by direction of the Commissioner of Taxation this is merely a matter of convenience and does not constitute evidence of employment status. The second of the associated issues is that of the parson's freehold. The concept of a 'living' is not part of the law or practice of the Anglican Church of Australia. Had it been so, it would have added considerable weight to the argument in favour of the status of office holder. Accordingly, the support for office holder status is weakened. A review of the common law in Australia and elsewhere leads to the conclusion that the status of office holder is still the accepted view. The employment relationship is a contractual relationship made between two parties, an employee and an employer. Therefore, there is examined the issue of who might be the employer of the clergy. The conclusion is that there is no person or body who has sufficient involvement, control or responsibility to be described correctly as an employer. Finally, there is a consideration of the source of the responsibilities and rights of clergy. The conclusion is that the traditional view of clergy as office holders has not been displaced and is still applicable to-day.
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ItemLegislating our right to die( 1997)This thesis argues that the enactment by the Northern Territory Legislative Assembly in 1995 of the Rights of the Terminally Ill Act 1995 (NT), (‘the Act’) did not advance, but rather diminished, a patient’s right to request and receive assistance to die at the time it was in operation. The author suggests the Act failed to achieve the goal of balancing competing interests (patient autonomy versus procedural safeguards) and instead created unnecessarily complex legal and institutional obstacles for terminally ill patients. Despite the positively stated intentions of the main proponent of the legislation, Mr Perron, the parliamentary drafters of the Act erred on the side of caution. Consequently, it was difficult, if not at times impossible, for persons to use the Act in a way which led to results consistent with the Act’s intended purpose. The complex procedural regime set up by the Act, indicates a regressive shift from a patient’s right to undertake an autonomous decision-making process towards a decision process governed by medical paternalism and State intervention. The central argument presented in this thesis is that the rights of patients to take control of their own body and the manner of their own death, will be eroded rather than enhanced if the legislation in the form discussed becomes enacted. Possible alternatives to legislating on euthanasia and physician-assisted suicide are suggested by the author.