| Alert - High Court rejects waiver of privilege claim |
| 20 August 2008 |
Waiver of legal professional privilege is of particular relevance to in-house counsel but has been, and continues to be, a vexed area of the law. It was hoped that some aspects would be clarified by the High Court in the Osland appeal. Last week the High Court delivered its judgment in Osland v Secretary to the Department of Justice [2008] HCA 37, and confirmed the Court of Appeal's decision. While the judgment clarifies some aspects of waiver of privilege, it also confirms that there is no bright line dividing what does and does not amount to waiver of legal professional privilege. |
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| Alert - ACCC finally succeeds against Baxter Healthcare in Full Court of Federal Court appeal |
| 15 August 2008 |
Following an epic court battle, the Australian Competition and Consumer Commission (ACCC) has finally succeeded in securing a judgement against Baxter Healthcare Pty Ltd (Baxter) in relation to breaches of section 46 (misuse of market power) and section 47 (exclusive dealing) of the Trade Practices Act 1974 (TPA). The Full Court of the Federal Court this week handed down its decision to allow the ACCC's appeal against the primary judge's findings that Baxter was immune from TPA proceedings due to the doctrine of derivative Crown immunity. This argument was subsequently rejected by the High Court, which remitted the TPA claims back for hearing in the Full Federal Court. |
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| Alert - Financial Services Working Group Public Information Session |
| 15 August 2008 |
The Federal Government's Financial Services Working Group held a public information session on 12 August to provide an update on the Working Group's progress in relation to the finalised First Home Saver Account PDS project. The session also provided a brief update on the general PDS project, which is conducting a general review of the PDS regime, and also on the simple super project which seeks to address the accessibility of simple financial advice in relation to superannuation. |
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| Alert - Official launch of the Australian Law Reform Commission's Final Privacy Report |
| 11 August 2008 |
The Australian Law Reform Commission's landmark Report For Your Information: Australian Privacy Law and Practice was launched today in Sydney by the Cabinet Secretary, the Hon Senator John Faulkner, and the Attorney-General, the Hon Robert McClelland MP. The Report was simultaneously tabled in Federal Parliament and is currently available on the Australian Law Reform Commission's website. |
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| Alert - Grocery Inquiry Report |
| 08 August 2008 |
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The Australian Competition and Consumer Commission has released its long awaited report of the ACCC Inquiry into the Competitiveness of Retail Prices for Standard Groceries. |
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| Alert - China's new Anti-Monopoly Laws – A summary |
| 07 August 2008 |
After 13 years of deliberation, China's landmark Anti-Monopoly Laws (AML) is now in effect. The AML's provisions are comprehensive and contain broad principles generally found in competition law regimes across Europe and the United States. |
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| Alert - CRC program to continue with renewed focus on dealing with the big challenges facing Australia |
| 06 August 2008 |
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The report on the review of the Cooperative Research Centres Program (CRC Program), Collaborating to a purpose (Report), was released on 5 August 2008. The Report, which was prepared by Professor Mary O’Kane with input from the Collaboration Working Group of the National Innovation System Review, recommends that the CRC Program should continue with an increase in funding for the next funding round. |
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| Alert - AUSTRAC releases further guidance on Ongoing Customer Due Diligence |
| 05 August 2008 |
| A new chapter of AUSTRAC's Regulatory Guide, released on 25 July 2008, provides guidance on, and sets out AUSTRAC's expectations for, complying with the AML/CTF obligations for ongoing customer due diligence (OCDD). |
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| Alert - High Court upholds exclusion clause in PI decision |
| 01 August 2008 |
| On 30 July 2008, the High Court in CGU Insurance Limited v Porthouse [2008] HCA 30 held that an insurer was entitled to rely on an exclusion to deny cover under a professional indemnity policy. It found that a barrister could not claim under the policy because he knew, when applying for a policy with the insurer, of a potential error in his earlier advice to his client. In doing so, the High Court overturned the first instance and Court of Appeal decisions that went against the insurer. |
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| Alert - NSW Law Reform Commission Consultation Paper proposes key reforms to Privacy Laws |
| 30 July 2008 |
The New South Wales Law Reform Commission (Commission) has released a Consultation Paper proposing key reforms to the State's privacy laws providing greater clarity around the complex and multi-layered statutory framework. Its release precedes the Australian Law Reform Commission's final report on Australian privacy laws, which is expected to be released in late August. The Consultation Paper will complement the ALRC's report particularly in achieving national uniformity through the Uniform Privacy Principles |
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| Alert - ACCC takes court action against Franchisor |
| 28 July 2008 |
On 22 July 2008, the Australian Competition and Consumer Commission announced that it had issued court proceedings against a franchisor, Seal-a-Fridge Pty Ltd, and its director, alleging breaches of the Franchising Code and the Trade Practices Act 1974 in the Federal Court, Brisbane.
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| Alert - First unsolicited takeover bid by PRC state-owned group for Australian resources company |
| 25 July 2008 |
Minter Ellison, in conjunction with Perth-based boutique law firm Hardy Bowen, is acting for Midwest Corporation Limited (MIS) on its response to Sinosteel Corporation's unsolicited bid for MIS and related matters. Sinosteel is the first state owned entity from the People's Republic of China to make an unsolicited takeover bid for a listed Australian resources company. MIS holds key development assets in the emerging mid-west iron ore region of Western Australia. |
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| Alert - Federal Government launches inquiry into franchising industry |
| 18 July 2008 |
The Federal Government has launched an inquiry into Australia's franchising industry to examine the operation of the Franchising Code of Conduct. Submissions have been invited by 12 September 2008. |
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| Alert - What is a reporting entity? AUSTRAC releases Public Legal Interpretation No. 4 |
| 10 July 2008 |
On 4 July 2008, AUSTRAC released Public Legal Interpretation No. 4 of 2008 What constitutes a reporting entity (PLI No. 4). The purpose of this PLI is to set out AUSTRAC’s views on the provisions of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act). |
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| Winners or Losers from Australia's Managed Investment Trust withholding tax regime? |
| 09 July 2008 |
Foreign investors will no longer be entitled to claim a deduction for interest and other costs incurred against income arising from their investments in Australian Managed Trusts (MITs), following the introduction of a final withholding tax regime. |
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| Alert - New Victorian OH&S regulations in force for the construction industry |
| 07 July 2008 |
New regulations aimed at improving safety conditions in Victoria's building and construction industry came into effect on 1 July 2008. Employers will need to review contracts and workplace policies and procedures to ensure they comply with the additional requirements contained in the regulations. |
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| Alert - RV Amendment Bill 2008 (NSW) |
| 03 July 2008 |
The Retirement Villages Amendment Bill 2008 (NSW) currently before the Legislative Assembly will change a number of key financial and operational aspects of retirement village industry practice in New South Wales. If it is passed, the legislation is expected to become law later this year. The amendments are designed largely to benefit residents, although there are also some provisions that improve the position for operators in the industry. |
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| Alert - National Greenhouse and Energy Reporting Regulations released today |
| 26 June 2008 |
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The Australian Government has released the regulations for the National Greenhouse and Energy Reporting Act 2007, which will commence operation on 1 July 2008. |
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| Alert - GST case confirms margin scheme can apply following subdivisions - and a sting in the tail for the Commissioner |
| 26 June 2008 |
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The Full Federal Court has today upheld the taxpayer's appeal in Brady King. You will recall that the Federal Court's earlier decision had cast doubt on the ability to apply the margin scheme following a subdivision or strata titling because it held that the subdivided lots was not the same interest as originally acquired. |
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| Alert - Variable pricing fixes buy-out of Macquarie Private Capital Group security holders |
| 23 June 2008 |
| Minter Ellison acted for Macquarie Private Capital Group on its schemes of arrangement and trust scheme under which Bear Stearns Private Equity acquired 100 per cent of the equity interests in the group. |
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| Alert - The Federal Court of Australia declares decision in Ketchell's 'plainly wrong' |
| 11 June 2008 |
In a decision which will only fuel more uncertainty in the franchising industry, Justice Rares of the Federal Court of Australia has refused to follow the decision of the Court of Appeal in Ketchell's case, declaring that it was 'plainly wrong'. The decision throws doubt over the consequences of a franchisor's failure to comply with the Franchising Code of Conduct. That doubt will not be resolved until the High Court delivers its judgment on appeal in Ketchell's case which was heard on 10 June 2008. |
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| Alert - First Australian decision to consider transfer pricing methodology |
| 03 June 2008 |
In a recent ruling on transfer pricing adjustments, the Administrative Appeals Tribunal held that the Commissioner's assessments in respect of amounts paid by Roche Products Pty Ltd, an Australian company, to its Swiss parent company, Roche Holdings Ltd, for pharmaceutical products were excessive. The case examined the various transfer pricing methods in attempting to establish a benchmark for arm's-length sales against which actual prices could be tested. |
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| Alert - Superannuation reforms: Going beyond the traditional family |
| 30 May 2008 |
On 28 May 2008, the Federal Government introduced a Bill to amend the Superannuation Industry (Supervision) Act 1993 (Cth) and the Income Tax Assessment Act 1997 (Cth) with effect from 1 July 2008 to remove discrimination against same gender couples and their children. If passed, these amendments will have wide ranging implications for superannuation trustees and their funds. |
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| Alert - FORE! A warning to all golfers |
| 28 May 2008 |
On instructions from an insurer, Minter Ellison have been successful in defending a claim by a golfer who claimed against a fellow player after being struck in the eye by his golf ball. |
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| Alert - New PRC Law on Mediation and Arbitration of Labour Disputes – what you need to know |
| 26 May 2008 |
The PRC Law on Mediation and Arbitration of Labour Disputes (Law), which came into effect on 1 May, focuses on the procedural features of the mediation and arbitration of labour disputes with the aim of further protecting employees' rights. |
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| Alert - Victorian Government makes public its response to city's growth strategy |
| 22 May 2008 |
The Victorian Government has put forward a series of recommendations in its response to the Melbourne 2030 Audit that commenced in 2006. The independent Audit aims to develop a strategic blueprint for Melbourne's planning and development needs. One of the key recommendations will involve the creation of Development Assessment Committees to make planning permit decisions in relation to areas and matters of metropolitan significance. |
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| Alert - A national approach to personal property security |
| 21 May 2008 |
The Federal Attorney General has called for a complete overhaul of the States and Territories Personal Property Securities laws in an exposure draft Bill released on Friday, 16 May 2008. The proposed Bill would 'replace 70+ Commonwealth, State and Territory Acts administered by 30 Government Agencies with a single national law and would be supported by a national online system for registering interests in personal property securities. |
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| Alert - Supreme Court dismisses claim against franchisor |
| 16 May 2008 |
In a recent court ruling in Western Australia, the Judge dismissed a claim made against a franchisor, Bedshed, for an alleged unreasonable restraint of trade clause contained in the company's franchise agreement. It was also held that Bedshed's selection criteria were reasonable and that it did not unreasonably withhold its consent to a request to transfer the franchise agreement. |
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| Alert - Credit Default Swap portfolios – Time for a check-up? |
| 15 May 2008 |
The credit markets are moving quickly and parties need to be in a position to rapidly take action to best protect their position. Now is the time to do a health check on your credit default swap portfolio. |
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| Alert - Federal budget significantly restricts GST's margin scheme |
| 14 May 2008 |
| The Federal budget announces significant changes to the application of GST's margin scheme. In particular, under the current rules, when a taxpayer acquires land as a non-taxable supply (e.g. a GST-free going concern, a GST-free farm or input taxed residential land) the taxpayer can then apply the margin scheme on the sale of that land with a cost base equal to the price paid to acquire it. Accordingly, the taxpayer incurs no GST when the land is acquired but has a cost base equal to the price paid for that land on the subsequent sale. |
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| Alert - Report on franchising in Western Australia |
| 09 May 2008 |
| The Western Australian Government has recently handed down a report following its Inquiry into the operation of franchise businesses in WA. The Inquiry concluded that there was room for improvement in the franchise industry and has made some significant recommendations. |
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| Alert - Proposed Amendments to Predatory Pricing – Birdsville Goes Walkabout |
| 29 April 2008 |
| The Federal government yesterday announced proposals for reform to the misuse of market power, predatory pricing and unconscionable conduct provisions of the Trade Practices Act 1974 (Cth). The stated aim of the proposed amendments is to crack down on anti-competitive behaviour by powerful business, give small business prominent and permanent representation on the ACCC and provide small business with cheaper and more efficient judicial access. |
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| Alert - ACCC investigation concluded – Bakers Delight found not in breach |
| 24 April 2008 |
| On 22 April 2008, the Australian Competition and Consumer Commission took the unusual step of announcing that following an extensive investigation into allegations of misleading and deceptive and unconscionable conduct towards franchisees, it had decided not to take any further action against franchisor, Bakers Delight. In an environment where franchisors are increasingly placed under the ACCC's spotlight, this will be a welcome announcement for franchisors. |
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| Alert - Perth native title finding overturned by appeal decision |
| 23 April 2008 |
| The Full Federal Court today handed down its long-awaited appeal decision in the Perth portion of the Single Noongar Claim No 1 (SNC #1). The decision means continuing uncertainty surrounds the issue of native title in Perth. |
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| Alert - Inventions developed by academic staff – what rights do universities have? |
| 23 April 2008 |
The recent decision of University of Western Australia v Gray handed down by the Federal Court of Australia has taken a narrow approach to the issue of when a university is entitled to ownership of inventions developed by their academic staff. The decision also highlights a need for universities to consider the appropriate method of incorporating IP policies into their current contracts of employment. |
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| Alert - Retail Leases Act Review |
| 16 April 2008 |
| The Department of State & Regional Development has issued a discussion paper outlining the issues said to affect the retail leasing industry in New South Wales. |
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| Alert - State Revenue Legislation Amendment Bill 2008: Implications for stamp duty and land tax |
| 09 April 2008 |
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On 2 April 2008, the New South Wales parliament released a draft of the State Revenue Legislation Amendment Bill 2008. The Bill aims to introduce new and extend existing concessions while inserting anti-avoidance provisions into others. The Bill proposes to amend, amongst other legislation, the Duties Act 1997 and the Land Tax Management Act 1956. |
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| Alert - Second public consultation on rewrite of the Companies Ordinance |
| 09 April 2008 |
On 2 April 2008, the Government of the Hong Kong Special Administrative Region announced the second of a series of public consultations on the Companies Ordinance rewrite. The second consultation seeks public feedback on four proposals. |
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| Alert - Government pushes ahead with component pricing amendments to TPA |
| 01 April 2008 |
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On 30 March 2008, the Federal Government announced that it will proceed with amendments to the Trade Practices Act 1974 relating to component pricing and has released the Trade Practices Amendment (Component Pricing and Other Measures) Bill 2008 for public comment. |
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| Alert - ACCC takes Federal Court action against franchisor |
| 01 April 2008 |
The Australian Competition and Consumer Commission's action against franchisor, Allphones, reaffirms the need for franchisees to remain vigilant in complying with the Franchising Code and the Trade Practices Act. With the amendments to the Code now in force it is crucial that franchisors review their documents and practices to avoid any contravention. |
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| Alert - Planning reform in the ACT – implementation of the Planning and Development Act 2007 |
| 31 March 2008 |
The new Planning and Development Act 2007 in conjunction with the revised Territory Plan comes into effect today to replace the Land (Planning and Environment) Act 1991, the Planning and Land Act 2002 and the existing Territory Plan. One of the most significant changes for those engaged in the development/construction industry will be adaptation of the development assessment process, with all proposals to be funnelled through one of three assessment channels. |
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| Alert - GST's Margin Scheme - Strategies to deal with Brady King |
| 27 March 2008 |
| Many taxpayers will be familiar with the recent decision of the Federal Court in Brady King, which has raised significant doubts regarding the application of the margin scheme, particularly in the context of major developments. |
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| Alert - Implications of court ruling on validity of Franchise Agreements |
| 19 March 2008 |
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The significance of the New South Wales Court of Appeal's decision in Ketchell v Master Education Services Pty Ltd is only now being appreciated by the franchise industry in Australia as franchisors become increasingly concerned about the validity of their franchise agreements. |
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| Alert - Telstra fails in its constitutional challenge to compulsory access laws |
| 06 March 2008 |
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The High Court today handed down its much anticipated judgment on Telstra's constitutional challenge to parts of the telecommunication specific access regime in the Trade Practices Act 1974 (Act). Telstra's challenge has failed. |
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| Alert - Car dealership awarded GST refund |
| 04 March 2008 |
A landmark decision in the Australian Federal Court could open the floodgates for car dealers to apply for a refund in cases where GST has been incorrectly paid to the ATO for 'holdback payments'. |
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| Alert - A fundamental change in the law concerning 'consequential loss' |
| 04 March 2008 |
The effectiveness of contractual clauses that seek to exclude consequential loss has been bolstered by a recent decision of the Court of Appeal in Victoria in Environmental Systems Ltd v Peerless Holdings Pty Ltd. This case changes the law concerning how these exclusion clauses will be interpreted. |
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| Alert - A national approach to infrastructure delivery |
| 26 February 2008 |
The improved delivery of Australia's infrastructure needs has been firmly placed on the political agenda following the introduction of Infrastructure Australia Bill 2008 in parliament last week. The formation of Australia's infrastructure advisory council marks an important step in the right direction towards providing a clearer and more defined national approach to infrastructure delivery in this country. |
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| Alert - ACCC v Prouds Jewellers Pty Ltd [2008] FCA 75 |
| 22 February 2008 |
The Federal Court of Australia has handed down an important decision on the practice of 'Was/Now' pricing. The Court held that Prouds Jewellers Pty Ltd had engaged in misleading and deceptive conduct in breach of the Trade Practices Act 1974 (Cth) because goods had not been offered at the 'was' price immediately before the commencement of the relevant promotion. |
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| Alert - Revamp of Victoria's tertiary legislative framework |
| 20 February 2008 |
The State Government has announced a review of Victorian universities legislation with the aim of strengthening university governance, ensuring alignment with Victoria's new Human Rights Charter and creating a more user-friendly, transparent legal framework. |
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| Alert - Call for public submissions on New Residential Zones for Victoria |
| 19 February 2008 |
The Victorian Government has called for public submissions on its discussion paper New Residential Zones for Victoria, released Friday 15 February 2008. Comments can be submitted up until 18 April 2008.
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| Alert - New Asbestos Laws for Non-residential Premises |
| 19 February 2008 |
As the date for compliance looms closer, it is a timely reminder that in late 2007 new laws were introduced regulating asbestos in non-residential buildings situated in the ACT. These laws will affect anyone who has control of a building (constructed before 31 December 2003) and / or who makes decisions about the management of a building (including owners, occupiers or property managers). The new laws will apply to the Commonwealth to the extent that the Commonwealth is in control of a building for the purposes of the Act. Building controllers must ensure compliance by the specified due dates, the first being 1 September 2008. |
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| Alert - ACT introduces asbestos laws for non-residential premises |
| 19 February 2008 |
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As the date for compliance looms closer, it is a timely reminder that in late 2007 laws were introduced regulating asbestos in non-residential buildings situated in the ACT. These laws will affect anyone who has control of a building (constructed before 31 December 2003) and /or who makes decisions about the management of a building (including owners, occupiers or property managers). Building controllers must ensure compliance by the specified due dates, the first being 1 September 2008. |
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| Alert – Managed Investment Schemes |
| 18 February 2008 |
On 12 February 2008, AUSTRAC issued a further statement in relation to the regulation of managed investment schemes under the Anti-Money Laundering and Counter-Terrorism Financing Act. |
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| Alert - Introducing the new merger bible |
| 12 February 2008 |
The Australian Competition and Consumer Commission (ACCC) has released revised merger guidelines for public comment. The revised guidelines set out the general analytical framework applied by the ACCC when assessing mergers under the Trade Practices Act and seek to modernise the existing guidelines which have been in place since 1999. For businesses contemplating a transaction, the biggest practical issues likely to arise from the revised merger guidelines are the introduction of new 'notification' thresholds used by the ACCC and the removal of the existing 'safe harbour' market concentration thresholds for notification. |
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| Alert - Submissions invited on the Greenhouse and Energy Reporting Regulations Policy |
| 05 February 2008 |
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The Australian Government has outlined its likely approach to the greenhouse and energy reporting regulations to be made under the National Greenhouse Energy and Reporting Act 2007. Its Regulations Policy Paper provides policy proposals on a number of significant issues, including key terms, tests for operational control and reporting procedures. Submissions on the proposals are invited by 27 February. |
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| Alert - All managed investment schemes now subject to Anti-Money Laundering regime |
| 31 January 2008 |
Managed investment schemes will be regulated under the AML/CTF Act from 31 January 2008 as a result of the Anti-Money Laundering and Counter-Terrorism Financing Regulations 2008 registered on 30 January 2008. |
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| Alert -APRA release Draft General Insurance Prudential Framework – Implications for Direct Offshore Foreign Insurers |
| 30 January 2008 |
| The Financial Sector Legislation Amendment (Discretionary Mutual Funds and Direct Offshore Foreign Insurers) Act 2007 was passed by Parliament in September 2007. The Act widens the definition of 'carrying on business' under the Insurance Act, to capture foreign insurers providing insurance to Australian customers through an agent or broker, commonly known as a Direct Offshore Foreign Insurer. |
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| Alert - Review of the format shifting exceptions for film and photographs – Issues Paper released |
| 22 January 2008 |
| The Government has released the Issues Paper for the review of the format shifting exceptions for photographs and films: Copying photographs and films in a different format for private use. |
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| Alert - Australia moves to criminalise serious cartel conduct |
| 17 January 2008 |
On 11 January 2008, the Australian Government released an exposure draft of the long awaited legislation to criminalise serious cartel conduct. |
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| Alert - Call for Submissions to WA's Franchising Inquiry |
| 16 January 2008 |
Next month is the deadline for submissions to the public inquiry into the operation of franchise businesses in Western Australia. The Inquiry will review existing state and federal legislation to determine whether there is a need for further reform. |
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| Alert - Lease Duty abolished in NSW from 1 January 2008 |
| 14 January 2008 |
The date for the abolition of lease duty in NSW has arrived. No duty will be payable on most leases or agreements for lease first signed on or after 1 January 2008. |
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| Alert - ACMA releases Restricted Access Systems Declaration |
| 07 January 2008 |
ACMA has now released the final Restricted Access Systems Declaration 2007 (Declaration), mandated by the amendments to the Broadcasting Services Act 1992 (Cth) made by the Communications Legislation Amendment (Content Services) Act 2007 (Cth). |
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| Alert - AML update |
| 03 January 2008 |
| AUSTRAC has updated its statement on the unintended exemption of managed investment schemes from the operation of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act). The revised statement is dated 21 December 2007 (the previous statement dated 11 December 2007 no longer appears on AUSTRAC's website). It can be found by clicking here. |
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| Alert - Insolvency Law Reforms Introduced as Law – Key changes |
| 21 December 2007 |
| Key changes to the Corporations Act introduced by the Corporations Amendment (Insolvency) Act 2007 (Cth) commence on 31 December 2007 and will apply for insolvency administrations that commence after that date. |
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| Alert - Commissioner's new approach to remitting interest for GST shortfalls from 'wash' transactions |
| 21 December 2007 |
The Commissioner of Taxation has released a draft Practice Statement updating his approach to remitting the general interest charge on GST 'wash' transactions. The Practice Statement may result in some taxpayers reconsidering their approach to pricing for GST, particularly when conducting competitive tenders. |
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| News Alert - Legal Privilege and the Independence of In-house Counsel |
| 19 December 2007 |
| On 13 December 2007, the Federal Court of Australia determined that legal advice provided by PricewaterhouseCoopers' (PwC) Office of General Counsel to the partners of PwC did not attract client legal privilege: Rich v Harrington [2007] FCA 1987. |
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| News Alert - The Partridge in a Pear Tree: AUSTRAC concedes exemption for managed investment schemes |
| 14 December 2007 |
On 11 December 2007, AUSTRAC advised that the wording of Item 35(b) of Table 1 in Section 6 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Act) unintentionally exempts the issue of units in a managed investment scheme from the operation of the Act. This view is at odds with industry's understanding of AUSTRAC's position, which was that AUSTRAC did not concede that the exemption had this effect and that as managed funds are intended to be regulated, industry should treat them as being regulated. |
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| News Alert - Unacceptable circumstances avoided: Takeovers panel declared constitutionally valid |
| 13 December 2007 |
The High Court today made orders in AG (Cth) v Alinta Ltd. The Court found that section 657A(2)(b) of the Corporations Act (the Act) – which empowers the Takeovers Panel to make findings about breaches of the takeovers provisions of the Act – is constitutionally valid. |
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| News Alert - AML's 12 days to Christmas (and the 12 steps to AML compliance) |
| 10 December 2007 |
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On 12 December 2007, a number of provisions of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) and associated Rules come into force. These provisions include the requirement to develop an AML/CTF Program, identify customers and keep records of customer documentation. |
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| News Alert - SA Occupational Health, Safety and Welfare legislation amended |
| 26 November 2007 |
Following an amendment initiated in the South Australian Legislative Council, the much anticipated Occupational Health, Safety and Welfare (Penalties) Amendment Bill 2006, first introduced to Parliament in December last year, was passed by the House of Assembly on 21 November 2007 and will soon come into force after its assent and proclamation. |
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| News Alert - Call for submissions to the Review of the Extension of Legal Deposit |
| 02 November 2007 |
The Attorney-General's Department, together with the Department of Communications, Information Technology and the Arts, has released a discussion paper on the Review of the Extension of Legal Deposit. The Review will consider whether films, sound recordings and other materials in an electronic form, such as internet material or books published electronically, should be required to be deposited with the National Library of Australia, or another collecting institution. |
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| News Alert - Underwriter and broker responsible for costs of failed IPO |
| 31 October 2007 |
An underwriter and a sponsoring broker have been found liable to pay the costs of a failed IPO in a recent decision of the New South Wales Supreme Court. What went wrong and what steps can underwriters and brokers take to avoid the same outcome? |
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| News Alert - SA Occupational Health, Safety and Welfare legislation amended |
| 30 October 2007 |
After much debate the Occupational Health, Safety and Welfare (Penalties) Amendment Bill 2006, first introduced to Parliament in December last year, was passed by the South Australian Legislative Council on 23 October 2007. At the time of writing the Bill is not yet in force. It is likely to be proclaimed this week or next, at which time its amendments to the Occupational Health, Safety and Welfare Act 1986 (SA) will come into effect. |
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| News Alert - ACMA releases proposed Restricted Access System Declaration for comment |
| 30 October 2007 |
Commencing on 20 January 2008, the Communications Legislation Amendment (Content Services) Act will amend the Broadcasting Services Act to regulate content delivered over the internet, mobile phones and via other convergent devices. ACMA has now released the proposed Restricted Access System Declaration for comment. Restricted access systems must be employed by providers to ensure that certain categories of content will not be subject to take down notices from ACMA. |
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