ASIC provides ‘no action’ relief for conducting virtual meetings and delayed AGMs

After the Federal Government’s proposed legislation to extend the temporary relief for corporations to conduct virtual meetings stalled in the Parliament, we speculated in our recent update as to whether ASIC would issue a ‘no action’ position, electing not to take regulatory action against companies conducting virtual meetings despite requirements to do so in the […]

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COVID-19 | No extension to temporary reforms to permit electronic signing of company documents

In a blow for advocates of efficiency (both technological and practical), the temporary reforms under Corporations (Coronavirus Economic Response) Determination (No. 3) 2020 (Determination), which had permitted the conduct of virtual meetings, electronic execution of documents and split execution of documents under section 127 of the Corporations Act 2001 (Cth) (Act) expired on 21 March 2021. Unless, and until, a replacement relief […]

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Changes to the Owners Corporations Act – what developers need to know

Developers have an obligation to act honestly, in good faith and with due care and diligence in the best interests of the Owners Corporation created on registration of a plan of subdivision for a development under the Owners Corporations Act 2006 (Vic) (OC Act). There has therefore been a tension between the developer’s obligation to […]

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ACCC seeks ban on unfair trading practices

On 10 December 2020 the Australian Competition and Consumer Commission (the ACCC) released its Perishable Agricultural Goods Inquiry Report (the Report). Purpose of the inquiry The ACCC’s inquiry into markets for the supply of perishable agricultural goods was conducted at the direction of the Commonwealth Treasurer, the Hon. Josh Frydenberg MP. The ACCC conducted a […]

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FMCG Express | October Edition

2020 continues to be an interesting year with COVID-19 still impacting our lives and businesses, although we are cautiously optimistic that we may be turning a corner here in Australia. In this edition of FMCG Express, we bring you some useful COVID-19 reading as we grapple with the ongoing effects of the pandemic and look […]

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COVID-19 | Electronic signing and virtual meetings: New temporary relief for companies a significant step on a longer journey

In a significant development for companies, the Treasurer has utilised his new power to modify the Corporations Act 2001, the Corporations Regulations 2001, the Insolvency Practice rules, and the Passport Rules so that, for a period of six months effective from 6 May 2020: entities can hold virtual meetings without the need for a physical location; […]

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Fairness in Franchising – Franchising Taskforce Releases Regulation Impact Statement

Following on from the Issues Paper issued by the Franchising Taskforce in August, the Franchising Taskforce released a Regulation Impact Statement (RIS) on 11 November, which will assist the Franchising Taskforce in making recommendations to Government regarding reforms to the franchising sector. The Taskforce and is inviting submissions by 6 December 2019. The Franchising Taskforce […]

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Large retailers may be given the green light to collectively purchase electricity

You may or may not have seen in the media that on 20 September 2019 the Australian Competition and Consumer Commission (ACCC) released a draft determination and interim authorisation giving members of the Large Format Retail Association (LFRA) a green light to begin the initial steps to collectively negotiate to purchase electricity. Members of the […]

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Lessons from 12 months of notifiable data breaches in Australia

The notifiable data breach regime under the Privacy Act 1988 (Cth) has now been in place for a little over 12 months. Earlier this week the Office of the Australian Information Commissioner released a 12-month Insights Report which contains some interesting statistics and observations. Statistics – notifiable data breaches Extrapolating from the full-year statistics for […]

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Intellectual property exception to competition law prohibitions to be removed. Time to review IP dealings for anti-competitive provisions.

Effective from 12 September 2019, the exception to the prohibitions on restrictive trade practices, contained in Part IV the Competition and Consumer Act 2010, for the conditional licensing and assignment of intellectual property will be removed. The impact from this will be that, effective from that date, all transactions involving IP will become subject to competition law prohibitions […]

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Embedded networks draft report released – major changes foreshadowed

As we noted last year, the Australian Energy Markets Commission (AEMC) had initiated a review of the regulatory framework for embedded networks after previously indicating that it did not regard the current regulatory regime as being fit for purpose. On 31 January, the AEMC released its draft report, proposing a “comprehensive reform package”.  At this stage, […]

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Electricity regulatory framework under further review – changes ahead for both embedded networks and stand-alone power systems

The Australian Energy Markets Commission has recently announced two separate reviews – one into the regulation of embedded networks and the other into stand-alone power systems. With the national electricity framework having been founded on a centralised electricity supply model, the explosive growth of both embedded networks and large-scale localised generation options has presented challenges […]

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