The Australian federal government recently released its response to the independent review of Australia's amended continuous disclosure regime (the "Independent Review")....more
The Background: The Australian Treasury has released its second quarterly report of the 2023–24 financial year covering the regulation of foreign investment in Australia during the quarter ended 31 December 2023....more
The Situation: The Australian Securities Exchange ("ASX") has published new data breach examples in an update to its continuous disclosure Guidance Note, effective from 27 May 2024 ("Data Breach Examples")....more
The Situation: The Australian government has restated its commitment to foreign investment and announced procedural reforms to Australia's foreign investment framework. The government aims to attract the significant foreign...more
The Australian Federal Parliament recently introduced new requirements for public companies to disclose information about their subsidiaries in their annual report by legislating the Treasury Laws Amendment (Making...more
The Australian Treasury has released its first quarterly report ("Report") for the 2023-24 financial year covering the regulation of foreign investment in Australia....more
In Short -
The Situation: The Australian Securities and Investments Commission ("ASIC") recently released its update on corporate finance regulatory activities for the third quarter of 2022....more
The Situation: The Australian Government has doubled Foreign Investment Review Board ("FIRB") application fees payable by investors who are required to seek approval under the Foreign Investments and Takeovers Act 1975 (Cth)...more
Practice Points for Schemes of Arrangement -
Uncertainty in earn-out consideration. ASIC raised concerns where target shareholders were being asked to vote on a scheme—which involved earn-out consideration—where there was...more
Despite the rules around exclusivity provisions in Australia having been relatively settled for many years (the Panel initially published its Guidance Note 7 on 'Lock-up devices' back in 2001), it's been surprising to see two...more