A good compliance culture comes from the inside. It reflects the corporate values of the organisation.
Fawkner Property managing director Owen Lennie has been a representative under a licence issued under the corporations law since 1989. He drives the compliance culture of Fawkner Property.
In addition to ensuring that there is compliance at the property level, including retail leases legislation, building codes, planning schemes, occupational health and safety requirements and dangerous goods regulations, Fawkner Property must ensure that the management of the trust complies with:
- The Deed establishing the trust and appointing the trustee;
- Australian Financial Services License issued to Fawkner Property under section 913B of the Corporations Act 2001;
- Disclosure provisions of the Corporations Act 2001 and the Australian Securities and Investments Commission Act 2001;
- Application monies procedure of the Corporations Act 2001;
- Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act);
- The Privacy Act 1988 (Cth) (Privacy Act) and, in particular, the Australian Privacy Principles (APPs) – special care is taken to ensure tax file numbers and bank account information is held in secured files;
- Taxation legislation & Australian Investment Income Reporting, as well as land tax and duty legislation;
- The accounting policies adopted by the trustee for special purpose financial reports to investors; and
- Mortgagee covenants in loan agreements.