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The Crowd-sourced Funding Bill 2016 – overview
Revised from the 2015 Bill, the 2016 Bill provides a regulatory framework for Crowd Sourced Funding (CSF) with eligibility requirements, obligations for Intermediaries facilitating the CSF Offers, and restrictions on advertising to protect retail investors.
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Shadow directors and de facto directors explained
This article examines the legal reality of de facto directors and shadow directors, which go beyond those validly appointed. It also considers whether advisory board members can be classed as such, and the implications of this status, with reference to relevant case law.
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Refund obligations for Australian businesses
In Australia, the main piece of legislation governing the supply of goods and services is the Competition and Consumer Act 2010 (Cth) (CCA), which incorporates the Australian Consumer Law (ACL) in Schedule 2. These obligations apply in addition to the terms and conditions by which a business trades. The CCA regulates the interaction between businesses…
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Are legal expenses tax deductible for new start-ups?
From 1 July 2015, a newly incorporated company, trust or partnership can immediately deduct a range of professional expenses associated with starting a new business, such as professional, legal and accounting advice. This change was introduced by the Tax Laws Amendment (Small Business Measures No. 3) Act 2015 (Cth) which amended the Income Tax Assessment…
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ACCC guide for platform operators updated
The Australian Competition and Consumer Commission has released a Guide to help Platform Operators in the Sharing Economy understand their legal obligations. Learn more about the four key principles, terms and conditions, policies and pricing obligations.
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Data Breach Bill 2016 – key data security considerations
The Privacy Amendment (Notifiable Data Breaches) Bill 2016 has been passed, making notification of data breaches mandatory from 23 February 2018. Find out how this could affect you and what measures you can take to protect your data.
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“Approved by ASIC” – a $20,000 issue
The Australian Securities and Investments Commission has taken action against Huntley Management Limited for advertising their products in a way that could mislead consumers. Learn more about this case and what it means for Australian Financial Services Licence holders.
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Contracting with Minors – is it even possible?
In the innovation economy it is becoming more prevalent for individuals aged less than eighteen (18) years (Minors) to seek to build enterprises. From time to time we are asked to consider whether a client can contract with a Minor. The law in Australia[1] and Queensland[2] states that a Minor is someone who has yet…
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What are Share Subscription Agreements?
A share subscription agreement is a binding promise between a potential shareholder and a company. It outlines the number of shares issued, order and timing of funds advanced,along with common clauses such as conditions precedent, confidentiality, no-shop, and more.
Commercial law
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