BFA amendments finally go through parliament

As practitioners know, the Full Court decision in Black v Black (2008) FLC ¶93-357 sent shock waves through the profession with a technical interpretation of the financial agreement (BFA) provisions of the Family Law Act 1975.

Parliament has now passed on the 23rd day of November 2009 the Federal Justice System Amendment (Efficiency Measures) Act (No.1) 2009 to deal with the concerns  raised about BFA’s.  The Family Law Act amendments are contained in Schedule 5 to that Act.  The new Act was given Royal Assent on 7 December, so the amendments commence operation on 4 January 2010. Read more of this post