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What exactly 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…
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Unfair contract terms – automatic renewal clauses explained
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.
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Changes 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…
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What exactly are 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.
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What is an “earnout” clause in a business acquisition?
An Earnout Right is further defined as any transaction in which an income-earning asset is sold for consideration that includes the creation of an ‘earnout right’ (Earnout Right) for the seller of the asset.
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Paid family and domestic violence leave for small businesses
The Fair Work Amendment (Paid Family and Domestic Violence Leave) Act 2022 (Cth) (Amending Act) provides that employers must provide 10 days paid leave to all employees. Part-time and casuals also eligible. Confidentiality and ability to take leave in single and separate periods must be respected.
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ACCC consultation environmental and sustainability guidance
The Australian Competition and Consumer Commission releases Draft Guidance to help businesses make environmental and sustainability claims without misleading consumers. Seeking input from stakeholders to ensure guidance is effective and up-to-date with consumer law.
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Greenwashing on Facebook – ASIC fines Future Super
Learn more about Greenwashing in Australia and the alleged incidents, with Australian Securities and Investments Commission (ASIC) and the Australian Competition and Consumer Commission (ACCC) responsible for regulating misconduct. ASIC issued an infringement notice to Future Super for making misleading Greenwashing claims on Facebook. Understand the legislative framework and how to avoid making false claims.
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Pay secrecy laws come into effect
The Fair Work Legislation Amendment Act 2022 (Cth) has been passed, introducing workplace laws and changing existing rules. Employers must now ensure job ads include minimum wage info and protect confidential info when determining pay. This article provides an overview of the implications.
Commercial law
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