Archives for May 2015

Failure to redeem – payment defaults and redeemable preference shares

Redeemable Preference Shares (REDP’s) are generally thought of as hybrid securities issued pursuant to the Corporations Act 2001(Cth) (Act) to provide for redemption (cancellation) on the happening of a particular event, or at a party’s election.

Whilst their flexibility makes them an attractive tool, significant legal issues can arise if they cannot be redeemed because a term provides for payment of an amount of money which cannot be repaid or otherwise will cause a breach of the Act. [Read more…]

Why employers need a drug and alcohol policy

In Australia, alcohol use is a daily part of many people’s lives.  Although the use of illicit (illegal) drugs is not as common, the effects of both drug and alcohol use during and outside of work hours can have a significant negative impact on workplace health, safety and productivity.

Workers who are impaired by drugs or alcohol present a substantial safety risk to themselves and others as it may affect their ability to exercise judgment, coordination, motor control, concentration and alertness may be impaired, leading to increased risk of injury or accidents to themselves or others and damage to plant or equipment.
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Does a franchise system need to be registered?

People looking to establish a franchise often ask us whether the franchise system needs to be “registered” in Australia. The term franchise system as defined by section 4 of Schedule 1 – Competition and Consumer (Industry Codes – Franchising) Regulation 2014 (Code) “includes a business system in which a franchisor grants a franchise to a franchisee”. [Read more…]

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