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Failure to disclose – ACCC penalises Jim’s Group
Jim’s Group Pty Ltd fined $24,420 by The Australian Competition and Consumer Commission (ACCC) for alleged breaches of Competition and Consumer Regulation and misrepresentation of cooling off rights. Franchisors reminded to know their rights and obligations or face hefty financial penalties.
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Is a proposed settlement fair and reasonable in the Federal Court?
Class action lawsuits commonly resolve in a settlement between the members of a class and the respondents to a claim. However, there are strict requirements to proposed settlements, including that they are ‘fair and reasonable’, which will be subject to judicial oversight.
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Updated Franchise Disclosure Register
The Federal Government has proposed regulations for franchisors, including the creation of a Franchise Disclosure Register. Find out what this could mean for the franchising sector and how you could be affected.
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Resigning as director – when is it effective?
On 18 February 2021, the Treasury Laws Amendment (Combating Illegal Phoenixing) Act 2020 (Cth) (Treasury Act) came into effect and introduced various measures to combat “phoenixing”. One of the reasons for this legislation was to help combat illegal phoenix activity which involves the creation of a new company to continue the business of an existing…
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DIN update – deadline looms for Australian company directors
As 30 November 2022 approaches, Australian company directors must apply for a Director Identification Number (DIN) to comply with the Corporations Act 2001 (Cth) and the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (Cth). Learn how to obtain your DIN, the application process and what documents you must provide.
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Can contractors owe fiduciary duties to principals?
This article examines whether independent contractors owe fiduciary duties to their principal, as well as any additional statutory duties that may be imposed on independent contractors who are company directors.
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Disputed debts in body corporate matters
This article examines the potential consequences of missing contribution levy payments in community titles schemes. It looks at specific cases and the risks associated with disputed body corporate debts, including the High Court decision of David Securities Pty Ltd v Commonwealth Bank of Australia [1992] HCA 48.
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Employee share scheme reforms from 1 October 2022
Changes to the Corporations Act 2001 (Cth) (CA) will reduce regulatory requirements and remove barriers for businesses to offer employee share schemes (ESS). This offers cash-poor businesses the potential to attract and retain employees who can benefit from ESS.
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R&D Tax Incentive and clinical trials
Find out if you are eligible for the Australian Government’s RandD Tax Incentive: companies with an aggregated turnover of
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