2023 Releases
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      2. Release Notes
      3. 2023 Releases

      April 2023 Updates

      Document Updates

      • 03/04/2023 Company Constitution Variation to LightYear Docs SMSF Special Purpose Company - Modified clause 7.10 and added wording "only that person appointed as the incapacitated Member's Legal Personal Representative may vote on any resolution."
      • 04/04/2023 Leading Member Discretionary Trustee Company & Company Constitution Variation to Leading Member Discretionary Trust
        • Removed all reference to Family Protection Appointor in Rule 5.1 (a) and (c)
        • Removed rule 5.1(d) and replaced with - "Any Director with the Leading Member’s consent may request the Board of Directors to put in place a binding resolution that a Successor Director will take the requesting Director’s position as a Director, with full rights, entitlements and privileges that the position ensures. The binding resolution to replace the requesting Director is to lay out the circumstances as to when the Successor Director is to replace the requesting Director and may include that the requesting Director cannot manage the Company because of mental incapacity, becomes bankrupt or dies. In addition, the personal representatives or trustee of the person may appoint a Successor Director."
        • Removed the paragraph from under rule 5.4.
        • Added Rule 6.6 - " The Leading Member Appointor Director may assign the Chair to another director but will still retain the absolute right of veto."
      • 06/04/2023 All Purpose loan Agreement - Added Yes or No command for jointly on borrow tab and adding clause 5.4) Borrow Liability
      • 14/04/2023 Shareholders Agreement - Added 'and is to be in accordance with the provisions of Division 7A of the Income Tax Assessment Act 1936 if that Division applies' in clause 6.1
      • 14/04/2023 Advance Health Directive (WA) -  Replaced with the new version
      • 14/04/2023 Related Party LRBA RPA Pack & Related Party LRBA RPA Shares Pack - Added text clause c in 3.1 'When the Lender and Borrower agree to terminate the Loan Agreement whether through refinancing of the Loan with another party or otherwise.' and 'unless the Loan has been refinanced with another party or otherwise' in clause 3.2
      • 17/04/2023 Notification of Death of Member - Added new field for the initial death benefit meeting in Trustee Meeting Tab
      • 18/04/2023 SMSF Establishment, Leading Member SMSF Establishment & QROPs SMSF Establishment - coded for SF360
      • 21/04/2023 Equipment And Motor Vehicle Finance Lease Agreement - Added new data element 'Who will pay the maintenance and upkeep costs?' 
      • 26/04/2023 SMSF Loan Agreement - Added a Line_Credit input data element on the tab "Agreement Details" like on the document "all purpose loan agreement"
      • 28/04/2023 Discretionary Trust Deed & Upgrades - Added the appointor in the party and as signatories

      New Document Releases

      • Released Deed of Appointment of Joint Appointor document in 17 April 2023.

      Platform Updates

      • 13/04/2023 - Reminder added to advise that Certificate of Registration is available to download within 30 days from Incorporation date. After 30 days, you will have to request this from ASIC with a cost.
      • 19/04/2023 - Email address change is disabled on front-end.
      • 19/04/2023 - Started migrating to the new billing platform. Clients are contacted to sign proposal on the new platform.