Insights

Creeping acquisitions

Recent amendments to the Competition and Consumer Act 2010 (CCA) are intended to ensure that section 50 of the CCA applies to "creeping acquisitions", and will provide legislative support to the...

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Crescent Gold - an important Panel decision on "association"

In Crescent Gold [2011] ATP 14, the Takeovers Panel has dealt with a thorny takeovers issue, that has has been troubling market participants for over a decade. This decision should be persuasive...

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Infringement Notices

The ACCC has the power to use infringement, substantiation and public warning notices in carrying out its enforcement activities, and has embraced infringement notices to resolve minor...

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New OH&S obligations of Directors and Officers

On 1 January 2012 the new Work Health and Safety Act 2011 (Cth) will come into effect along with similar legislation which is expected to come into effect next year in all States and Territories...

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Personal Property Securities Act (PPSA) to 'go live' on 30 January 2012

After a number of initial delays, the Attorney General has now issued a determination that the PPSA will 'go live' on 30 January 2012. This means that the final countdown has started for you to...

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Price signalling

On 24 November 2011, the Senate passed the Competition and Consumer Amendment Bill (No. 1) 2011 which introduces new prohibitions against disclosures of pricing and other competitively sensitive...

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Private Equity Tax Determinations

On 26 October 2011, the Commissioner of Taxation issued Taxation Determinations TD 2011/24 and TD 2011/25, dealing with the source of income and availability of tax treaty benefits, respectively...

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Proposed ASX Listing Rule amendment - directors of new listed entities to be of 'good fame and chara

ASX plan to amend the requirements for listing from 1 January 2012 to include a condition that the directors of an entity seeking listing on ASX must be of 'good fame and...

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Proposed Investment Manager Regime changes

On 15 January 2010, the Australian Financial Centre Forum released its report on 'Australia as a financial centre', which contained 19 recommendations, including introduction of an 'investment...

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South Australian security of payment legislation

The Building and Construction Industry Security of Payment Act 2009 (SA) and Regulations will commence operation in South Australia on 10 December 2011. Principals, consultants and contractors

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The Responsible Entity's power to amend Scheme Constitutions without member approval

With Barrett J's judgment in Re Centro Retail Limited and Centro MCS Manager Limited [2011] NSWSC 1175 (Centro Case) following the judgment in Premium Income Fund Action Group Inc v Wellington...

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Mineral and Petroleum Resource Rent Taxes Update

The Government appointed a Policy Transition Group (PTG) to develop the detailed technical design of the new taxes. The PTG provided its report to Government in December 2010, making...

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Senate Committee's report on Australian privacy principles exposure draft released

The Senate Finance and Public Administration Legislation Committee (Senate Committee) has now released its report on the Exposure Draft of the new Australian Privacy Principles (APPs). The new APPs...

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Update on the South Australia Security of Payment legislation

In the May 2011 edition of Acumen, we reported that the commencement of the Building and Construction Industry Security of Payment Act 2009 (SA) had been delayed, and that the Act and regulations...

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Court Suppression and Non-publication Orders Act

NSW has become the first state to enact the Court Suppression and Non-publication Orders Act 2010 (the Act). The Act has replaced the sections of the civil and criminal procedure statutes that...

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Mineral resource rent tax

On 10 June 2011, Treasury released for public comment preliminary exposure draft (ED) legislation and accompanying explanatory memorandum (EM) for the mineral resource rent tax...

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NSW Journalist Privilege law now in force

The Journalist Privilege amendments to the Evidence Act 1995 (NSW) (the Act) came into force in NSW on 21 June 2011. The changes to the Act are designed to bring New South Wales into line with...

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Queensland Resources Projects: Strategic Cropping Land

The Queensland State Government has announced additional details of its proposals for restriction of resource developments on Strategic Cropping Land...

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Queensland moves to reduce 'Green Tape'

The Queensland Government has released a discussion paper announcing its intention to reduce "Green Tape" for business and government by providing a streamlined regulatory process for environmental...

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SA's new landholder duty: the devil in the detail

The details of South Australia...s proposed landholder duty regime have now been released with the Statutes Amendment (Land Holding Entities and Tax Avoidance Schemes) Bill 2011 (Bill) introduced...

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ASX concept release - SME, mid-cap and micro-cap equity market review

On 21 March 2011, ASX issued a "Concept Release" as part of ASX's SME, Mid-Cap and Micro-Cap Equity Market Review. The Review is seeking to question whether ASX's "one size fits all" approach to...

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Turning income into capital or capital into income

Can a trustee treat receipts or outgoings as being on capital or income account irrespective of the nature of the receipt or outgoing? Legal and tax advisers have expressed various views on the...

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ASIC CP 143 - Experts reports and independence of experts

ASIC has issued Consultation Paper 143: Expert reports and independence of experts: Update to RG111 and RG112. In CP143 ASIC proposes changes to its two regulatory guides dealing with content of...

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One month until new consumer laws come into effect - what you need to do now

On 1 January 2011, Australia's consumer protection laws will be replaced by new legislation. While the majority of the new laws do not substantially change your existing obligations when dealing...

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