Archives for May 2014

Do I need financial assistance whitewash?

What is a financial assistance?

The general rule contained in section 260A of the Corporations Act 2001 (Cth) (Act) is that a company may financially assist a person to acquire shares (or units) in the entity if the giving of assistance does not materially prejudice:

  • the interests of the company or its shareholders;
  • or the company’s ability to pay its creditors.

If a transaction is determined to be financial assistance, then shareholder approval and the requirements of section 260B must be complied with.

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Agency agreements – what are they and how are they used?

We are often asked to draft agency agreements for clients who wish to appoint a third party to sell their goods or service.

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ACCC guidance on country of origin labelling for businesses

The Australian Competition and Consumer Commission (ACCC) have released guidelines to assist businesses with country of origin labelling. The Competition and Consumer Act (CCA) prescribes serious consequences for businesses that make false or misleading claims in regards to the origin of goods.

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