Insights

Hedge fund disclosure requirements - RG 240

On 18 September 2012, the Australian Securities and Investments Commission released Regulatory Guide 240 "Hedge funds: Improving

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High Court expands operation of the doctrine of penalties

In Andrews v ANZ, the High Court found that certain bank fees charged to the bank's customers were not prevented from being characterised as penalties by reason of liability to pay those fees being

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Proposed loss carry-back scheme for corporate taxpayers

On 23 August 2012, the Commonwealth Treasury released, for consultation, an exposure package consisting of draft legislation and accompanying draft explanatory memorandum in respect of the...

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New 10% placement rule for small to mid caps and changes to admission requirements

From 1 August 2012, ASX has amended the ASX listing rules to make it easier for small to mid cap entities to raise capital by allowing them to place an additional 10% of their capital in a 12 month...

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Taxation of trusts update

The following articles provide an overview of the recent developments in relation to the taxation of

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Which trustee is liable for tax when there is a change of trustee?

The Commissioner issued Practice Statement Law Administration PS 2012/2 on 28 June 2012. PS LA 2012/2 sets out the Commissioner's approach to determining from which entity he will seek to recover

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Interesting outcomes from the WAGN tribunal decision

The Australian Competition Tribunal recently published its decision in respect of WA Gas Networks Pty Ltd's (ATCO) review of the ERA's revised access arrangement for the mid-west and south-west gas

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Terminating IT and outsourcing contracts: designing and implementing a successful legal strategy

For most organisations, termination issues arise on a routine basis due to changes affecting the business - for example, as a result of recent acquisitions or expansion. Where this occurs there is

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Updating information in a PDS - beware the limits of Class Order 03/237

Issuers of Product Disclosure Statements (PDS) often rely on ASIC Class Order 03/237 to update information in a PDS. However, issuers need to be aware of limits on the updates to PDS information...

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Appeal rights under the new uniform Commercial Arbitration Law

This article discusses the appeal rights of parties under the new uniform commercial arbitration law with specific reference to the Commercial Arbitration Act 2011 (SA) which commenced operation...

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ASIC updates disclosure requirements for unlisted property funds

In March of this year, ASIC released an updated version of "Regulatory Guide 46 Unlisted property schemes: Improving disclosure for retail investors", including updates to the eight disclosure

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Discovery take second chair in NSW Supreme Court

A new Practice Note governing discovery and disclosure processes in the Equity Division of the Supreme Court of New South Wales commenced on 26 March 2012. In the absence of exceptional...

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Google goes to the High Court

The JWS Corporate Counsel Seminar on 30 May offered insights into the ACCC's proceedings against Google, which alleged that Google had engaged in misleading and deceptive

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How to avoid engaging in resale price maintenance when dealing with maverick retailers

This note examines what strategies are available to suppliers where a reduction in supply price is not commercially viable, and what to do when one of your customers' heavy discounting results in

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ICANN releases applications for new top level domain program

On 13 June 2012 the Internet Corporation for Assigned Names and Numbers (ICANN) released a list of the applications it has received for new top level...

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James Hardie in the High Court

The decision of the High Court in the James Hardie litigation has important implications for non-executive directors (and those who advise them), for general counsel, company secretaries and others...

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PJC report on Trio Capital: call for a review of the regulation of managed funds

On 16 May 2012, the Parliamentary Joint Committee on Corporations and Financial Services (Committee) tabled its report on its inquiry in relation to the collapse of Trio Capital the largest

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Privacy Act gets a revamp

The Privacy Amendment (Enhancing Privacy Protection) Bill 2012 was introduced to Parliament on 23 May 2012. The Bill amends the Privacy Act 1988 (Act) and implements the Government...s first stage...

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Commercially sensitive information - beware of s275, Personal Property Securities Act

The confidentiality of commercially sensitive information can be jeopardised by the operation of s 275 of the PPSA. If any document contains provisions which constitute a "security interest" for the

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Departing employees - longer restraint periods being enforced

A 3 year non-solicitation clause with a liquidated damages provision has been enforced against a former employee of an accounting firm on appeal to the Supreme Court of Victoria. The decision

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International arbitration clauses in commercial contracts

International arbitration is an increasingly popular means of resolving disputes in contracts involving cross-border commercial transactions, primarily due to the ease with which arbitral awards...

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Draft Income Tax Ruling - TR 2012/D1

On 28 March 2012, the Commissioner issued Draft Taxation Ruling TR 2012/D1 (the Draft Ruling) which sets out the Commissioner's views, in draft, in respect of the meaning of'income of the trust

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New national business names register

On 28 May 2012 (subject to the passage of legislation through State parliaments), a new national business names register will commence, allowing businesses to register their name nationally through...

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Senate report on proposed new credit reporting provisions

The Senate Committee has handed down its report on the Credit Reporting Exposure Draft Bill. The Draft Bill is the second of four parts of the Government's first stage response to the Australian...

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