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Terminating a contract with no set end date
In practice, we come across commercial agreements of varying types (Contracts) that, for whatever reason, don’t provide for a term or an end date (Expiry Date). There may have been reasons for this at the time that can no longer be recalled. It raises a number of issues, particularly where the subject matter of the…
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Proposed amendments to the requirements for listing on the ASX
Australian Securities Exchange Ltd (ASX) proposes changes to admission requirements to maintain market quality and integrity. Thresholds raised, minimum free float and spread tests strengthened. Refusal of admission examples to be included in Australian Securities Exchange Ltd (ASX) Guidance Note 1. Changes could be implemented as early as July 2016.
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Vesting unperfected security interests on liquidation – register or perish!
In White v Spiers Earthworks Pty Ltd [2014] WASC 139 (White v Spiers), it was held that a security interest granted by a company will vest with the Grantor on insolvency or bankruptcy, unless it is registered on the PPSR. Businesses must take steps to register security interests to avoid potential loss.
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Tax incentives for early-stage innovation investors
The Australian Government has proposed a bill to incentivise innovation and foster an entrepreneurial culture. Learn more about the 20% non-refundable tax offset for eligible investors and the potential for an Australian Innovation Fund.
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When is a written agreement legally binding – Masters v Cameron revised
Understand the three types of written agreements and when they are legally binding. Learn the action to take if you have questions about the binding effect of a particular contract.
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Tag along rights in shareholder agreements
Learn how tag along rights protect minority shareholders and ensure that the controlling interest of a company remains in the hands of the original shareholders. Find out more by reading this article.
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The 20/12 Rule & anti-avoidance provisions
This article examines Chapter 6D of the Corporations Act 2001 (Cth) (Act) and its implications for raising capital in Australia without issuing a formal disclosure document. It looks at Australian Securities and Investments Commission (ASIC)’s powers of exemption and anti-avoidance.
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Underpaying employees can have serious consequences
Employers have been accused of underpaying their employees and falsifying payroll records. Learn more about how the Fair Work Act 2009 (Cth) safeguards employees and how businesses can ensure they are compliant.
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Federal government proposes new crowdfunding regulations
Treasury releases consultation paper on Camps, Sports and Excursions Fund (CSEF) for public companies, part of 2015-16 budget package. Restrictions and exemptions outlined, with comments due by August 31. Further details to be released later in year.
Corporate law
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