Commonwealth Consolidated Regulations

[Index] [Table] [Search] [Search this Regulation] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

FAMILY LAW RULES 2004 - RULE 13.04

Full and frank disclosure

             (1)  A party to a financial case must make full and frank disclosure of the party's financial circumstances, including:

                     (a)  the party's earnings, including income that is paid or assigned to another party, person or legal entity;

                     (b)  any vested or contingent interest in property;

                     (c)  any vested or contingent interest in property owned by a legal entity that is fully or partially owned or controlled by a party;

                     (d)  any income earned by a legal entity fully or partially owned or controlled by a party, including income that is paid or assigned to any other party, person or legal entity;

                     (e)  the party's other financial resources;

                      (f)  any trust:

                              (i)  of which the party is the appointor or trustee;

                             (ii)  of which the party, the party's child, spouse or de facto spouse is an eligible beneficiary as to capital or income;

                            (iii)  of which a corporation is an eligible beneficiary as to capital or income if the party, or the party's child, spouse or de facto spouse is a shareholder or director of the corporation;

                            (iv)  over which the party has any direct or indirect power or control;

                             (v)  of which the party has the direct or indirect power to remove or appoint a trustee;

                            (vi)  of which the party has the power (whether subject to the concurrence of another person or not) to amend the terms;

                           (vii)  of which the party has the power to disapprove a proposed amendment of the terms or the appointment or removal of a trustee; or

                          (viii)  over which a corporation has a power mentioned in any of subparagraphs (iv) to (vii), if the party, the party's child, spouse or de facto spouse is a director or shareholder of the corporation;

                     (g)  any disposal of property (whether by sale, transfer, assignment or gift) made by the party, a legal entity mentioned in paragraph (c), a corporation or a trust mentioned in paragraph (f) that may affect, defeat or deplete a claim:

                              (i)  in the 12 months immediately before the separation of the parties; or

                             (ii)  since the final separation of the parties; and

                     (h)  liabilities and contingent liabilities.

             (2)  Paragraph (1)(g) does not apply to a disposal of property made with the consent or knowledge of the other party or in the ordinary course of business.

             (3)  In this rule:

"legal entity " means a corporation (other than a public company), trust, partnership, joint venture business or other commercial activity.

Note:          The requirements in this rule are in addition to the requirements in rules 12.02 and 12.05 to exchange certain documents before a conference in a property case.



AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback