The Senate Economics References Committee (Committee) is set to meet in Melbourne today as part of the inquiry into structure and development of forestry managed investment schemes. The Committee is to hear proposals that would overhaul the structure of the forestry managed investment schemes with an aim to increase transparency and tighten controls on investment in this sector in an attempt to avoid a repeat of past problems that have plagued the industry including agribusiness. A limited form of investor compensation will also be considered in light of the lessons learned from the collapse of some of the bigger schemes including Gunns Plantations and Timbercorp Securities.
With the demand for investment in agribusiness growing, the need for a more transparent regulated market is welcomed. HopgoodGanim will keep you up to date as the inquiry progresses.
Recommendations are due to be published by 31 March 2015. It is thought that the Committee will hear from regulators, private investors and scheme managers.
The Committee is accepting submissions until 15 December 2014.