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A new Bill was introduced into the Tasmanian House of Assembly on 17 August 2016. It proposes to, in respect of indirect acquisitions of land, change from a 'land-rich' model to a 'landholder' model; and provide a statutory regime for stamp duty exemptions for corporate reconstruction and consolidation.
Last week, a Full Bench of the Fair Work Commission held that permanent employees are entitled to have any previous service as a casual counted for the purpose of calculating notice and redundancy pay under the National Employment Standards (NES) and the enterprise agreement in question – providing the service is continuous, regular and systematic. This is despite the fact that casual employees are not entitled to redundancy pay or termination notice and typically receive a casual loading which compensates for these.
The scheme of arrangement under which ASX listed Skyland Petroleum Limited was re-domiciled to the Cayman Islands suggests that undertaking M&A transactions during a scheme, and indeed after the shareholder vote, may not be fatal to the scheme in certain circumstances.