Australia

News & Analysis as of

Is the RQFII Program En route to Australia?

Bank of China's Renminbi Settlement Service in Sydney - In late July this year, the Bank of China unveiled its Chinese Renminbi (RMB) Settlement Service in Sydney. The Settlement Service utilises the Australian Stock...more

Guide To Doing Business in Australia: Entry To Australia

ENTRY TO AUSTRALIA - Before reading this information, please be aware the information provided is not intended to be legal advice or to be acted upon without further consultation. Because of the complex maze of...more

Health Alert (Australia) - September 29, 2014

In This Alert: Judgments; Legislation; and Reports. Excerpt from Judgments: Western Australia - 25 September 2014 - Goh v Murdoch Eye Pty Ltd [2014] WASC 344: The plaintiff, Dr Goh, carried...more

Facing the looming economic threat: Third parties retain the right to intervene in threatened industrial action

Third parties have retained the recently acquired right to intervene to protect their interests in the face of threatened industrial action. In response to a recent dispute, the Coalition government amended the Fair Work...more

ASIC reminds AFS Licensees to report breaches early

In response to recent correspondence between ASIC and the Institute of Internal Auditors Australia, ASIC announced a review of breach reporting by AFS licensees in response to concerns raised about inconsistencies and delays...more

Last Call for Liner Exemptions in Australia?

The Competition Policy Review Panel (the Panel) has recommended the repeal of the current statutory exemptions for the liner shipping industry, potentially exposing conference agreements to the full rigour of Australia's...more

Revised ASX Guidance Note 17 - dealing with waivers and in-principle advice

On 22 September 2014, the Australian Securities Exchange (ASX) released an updated version of Guidance Note 17 to the ASX Listing Rules....more

McLennan v Insurance Australia Ltd [2014] NSWCA 300

In its recent decision of McLennan v Insurance Australia Ltd [2014] NSWCA 300, the NSW Court of Appeal confirmed that a provision in an insurance policy that limits or qualifies cover is an exclusion, regardless of where or...more

Implied Duties In An Employment Context – What May We Be Able To Learn From The UK Experience?

Earlier this month, the High Court of Australia delivered its ruling in the landmark case of Commonwealth Bank of Australia v Barker. In that ruling Australia's highest court decided that the duty of mutual trust and...more

Guide To Doing Business in Australia: Competition and Consumer Protection

COMPETITION AND CONSUMER PROTECTION - Australia has extensive competition and consumer laws dealing with, among other things, the promotion of competition and consumer protection. This section provides an introduction...more

Solicitors’ negligence – loss for intended beneficiary under a will

The NSW Court of Appeal has found that the fact that a person has reached a great age does not necessarily mean they are at death’s door or about to lose their marbles....more

ASIC reports on FOFA implementation

On 17 September 2014, ASIC reported on the results of two financial advice industry engagement projects conducted during the 2013-13 financial year. The Review of the financial advice industry’s implementation of the...more

Long tail personal injury claims – a floodgate issue in WA?

Yesterday, the Supreme Court of Western Australia Court of Appeal heard argument in an appeal against the decision of Dixon v Clarke [2013] WASC 471....more

Calderbank offers – proof in the pudding

Regular readers of Insurance Flashlight will remember our recent update on the High Court of Australia’s decision in Stewart v Atco Controls Pty Ltd (in Liquidation) (No 2) [2014] HCA 31 Two of our concluding...more

Comcare licensees: Push to lower barriers to entry to the federal WHS system

The Federal Government is proposing to make it easier for businesses to opt out of State and Territory specific work health and safety (WHS) laws and to join the Federal WHS system. The case for self-insurance...more

Antitrust In Australia: Where Is It Heading?

The ACCC argues the current wording of section 46 of the Competition and Consumer Act 2010 (CCA) (which regulates misuse of market power) does not sufficiently capture exclusionary anti-competitive conduct that can damage the...more

Guide To Doing Business in Australia: Court and Legal System

COURT AND LEGAL SYSTEM - The Australian legal system is modelled on the English common law system of judge-made (or case) law and written (statutory) law made by the various parliaments. The federal and state...more

Full Federal Court confirms isolated genetic material is patentable in Australia

In D'Arcy v Myriad Genetics Inc [2014] FCAFC 115, an expanded bench of five judges of the Full Federal Court of Australia has unanimously upheld Justice Nicholas' decision in Cancer Voices Australia v Myriad Genetics Inc...more

Health Alert (Australia) - September 22, 2014

In This Alert: Judgments; Legislation; and Reports. Excerpt from Judgments: New South Wales - 17 September 2014 - Southern Radiology Nuclear Medicine v Environmental Protection Authority (EPA)...more

Be Global - September 2014 (Global Labor & Employment)

Highlights: Australia: No implied term of mutual trust and confidence in Australian employment contracts - In a welcome development for employers, the High Court of Australia has handed down a landmark decision that...more

Full Federal Court confirms isolated nucleic acids are patentable in Australia

• The Full Federal Court has unanimously confirmed that isolated nucleic acids, either DNA or RNA, are patentable in Australia. • The decision is in contrast to the recent decision of the US Supreme Court, which held a...more

Guide To Doing Business in Australia: Intellectual Property

Intellectual Property: There are a variety of laws dealing with the protection of intellectual property (IP) in Australia. These laws provide for the creation of legal rights to the exclusive use or ownership of...more

Patent Protection for Isolated Genetic Sequences Upheld in Australia

Last year in AMP v Myriad Genetics, the U.S. Supreme Court concluded that isolated, naturally occuring DNA are not patent eligible, which caused considerable consternation in the biotech community. However, this does not...more

The Mergers & Acquisitions Review: Eight Edition: Chapter 13: Cayman Islands

OVERVIEW OF M&A ACTIVITY - The Cayman Islands experienced a significant increase in new company registrations in 2013 compared to 2012; 9,433 new companies were incorporated compared with 8,971 a year earlier. As of 31...more

Financial Regulatory Developments Focus - September 2014 #3

In this issue: - Derivatives - Consumer Protection - Enforcement - People - Events - Excerpt from Derivatives: CFTC Issues No-Action Relief for Qualifying Swaps Trading...more

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