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The Australian Energy Market Commission (AEMC) has published a draft proposal to change the rules that govern rebidding in the national electricity market. The proposed amendments would replace the existing rule which requires offers, bids and rebids to be made in good faith, with a new rule that prohibits offers, bids and rebids that are false, misleading or likely to mislead; and require rebids to be made as soon as practicable after a generator or market participant becomes aware of the change in material conditions or circumstances that has prompted the rebid.
New tax avoidance and transparency laws have been introduced, and are proposed to be effective from 1 January 2016. These new will laws impact upon multinational groups, requiring multinationals to consider their tax risk profile and their risk governance policies.
Minter Ellison has created a simple resource to help organisations keep track of the major developments in the OECD's Action Plan on Base Erosion and Profit Shifting.