The changes to the Privacy Act 1988 (Cth), including the introduction of the new Australian Privacy Principles (APPs), significantly increase the obligations imposed on an offshore parent or related entity that collects or deals with personal information from Australian residents (ie employees) in connection with managing employee share incentive plans (Plans).
When the reforms become effective on 12 March 2014, many of the current practises of overseas entities that offer Australian employees the ability to participate in Plans will not, for information collected from 12 March 2014, be compliant with Australian privacy law and will need to be changed.
Please see full alert below for more information.
Firefox recommends the PDF Plugin for Mac OS X for viewing PDF documents in your browser.
We can also show you Legal Updates using the Google Viewer; however, you will need to be logged into Google Docs to view them.
Please choose one of the above to proceed!
LOADING PDF: If there are any problems, click here to download the file.