Electronic discovery in the Federal Court of Australia (FCA) is nothing new. From July 2014, the FCA began implementing the Court’s electronic court file (ECF) across its Australian registries. This enabled the Court to embrace the use of technology in proceedings, including the use of electronic discovery, eLodgement, eTrials, eCourtroom, and video conferences. [Read more…]
Commercial Law
Asset preservation orders – is there a real risk of dissipation?
An asset preservation order is a class of freezing order made by a Court usually without notice to the respondent or defendant (Exparte) for the purpose of preventing the frustration or inhibition of the Courts processes. The need for an asset preservation order arises when there is danger that a judgment (or prospective judgement) made in favour of the party initiating the proceedings would go wholly or partly unsatisfied because the respondent may dispose of, deal with or diminish the value of its assets. [Read more…]
False and misleading representations by business – sections 29(1)(a)-(n) of the ACL
Where a business strays beyond mere “sales puffery” in promoting its goods or services and “crosses the line” in to the realm of deception, depending on the nature of the statements sections 29(1)(a)-(n) of Schedule 2 to the Competition and Consumer Act 2010 (Cth)(ACL) may be able to be used as a sword to hold the errant business to account. Sections 29(1)(a)-(n) of the ACL contain a wide range of prohibitions relating to representations made about goods or services by businesses as shown below: [Read more…]
Use of the © (copyright) symbol
It is something that is often overlooked however it is considered best practice to add a copyright statement and the little c symbol (Copyright Statement) on any literary or artistic works (Works) that a business publishes and asserts that it owns. Under Australian law, the “material form” of all original Works is automatically protected by copyright, however applying a Copyright Statement acts to put people on notice that the Works are protected by copyright and to provide a contact for anyone seeking permission to use it.[1]
The Digital ID Bill 2023 (Cth)
On 30 November 2023, the Digital ID Bill 2023 (Cth) and the Digital ID (Transitional and Consequential Provisions) Bill 2023 (Digital ID Bills) were introduced in the Australian Senate. Digital IDs are designed to provide individuals with a convenient way to verify their identity when completing certain online transactions and dealing with government and certain businesses. This acts as an alternative to repeatedly providing details or copies of personal and sensitive identification documents with third parties that may be vulnerable to cyber-attacks. [Read more…]
Overview of the illegal phoenixing regime
The Treasury Laws Amendment (Combating Illegal Phoenixing) Act 2020 (Cth) (Amending Act) came into force on 18 February 2020 and was designed to prevent illegal phoenixing activity. The Amending Act introduced reforms such as creditor-defeating disposition provisions to combat phoenixing activity. Additional provisions amending the Corporations Act 2001 (Cth) were aimed to encourage accountability by preventing the resignation of directors when there is no replacement director in place. [Read more…]
What is a change of control clause?
In commercial contracts, a change of control clause is one that allows one of the parties to an agreement to terminate or modify its terms if a third party acquires a controlling stake in the other. A change of control clause grants a party certain rights, such a right to accelerate an obligation to pay or the right to terminate the contract for example. This is often sought due to a concern that a competitor may acquire a controlling stake in the company that a business is contracting with. [Read more…]
Unfair contract terms – automatic renewal clauses
9 November 2023 was a crucial date for Australian businesses because from that date significant penalties can now be imposed on businesses found to have unfair contract terms (UCT) in their contracts. The Federal Government had introduced significant changes to laws relating to UCT on 10 November 2022. [Read more…]
Amendments to unfair contract terms
The Treasury Laws Amendment (More Competition, Better Prices) Act 2022 (Cth) (Amending Act) received royal assent on 9 November 2022, introducing significant amendments to the Australian Consumer Law (ACL). These amendments target the Unfair Contract Terms (UCT) provisions of the ACL, strengthening the rights of consumers while imposing stricter requirements on businesses using Standard Form Contracts (SFC). [Read more…]
What are retained earnings?
Retained Earnings (Retained Earnings) are a financial metric that offers a valuable insight into a company’s financial health, extended stability and potential for future growth. They represent the profit a company has retained overtime after accounting for all liabilities including the payment (if any) of dividends. [Read more…]