News & Analysis as of

Australia

Term contracts: What you need to know

by Dentons on

A recent decision of a Full Bench of the Fair Work Commission (FWC) has opened the door to employees on maximum term contracts bringing unfair dismissal claims by overturning the principle that the expiry of a term contract...more

AML extended to digital currencies - The 'Bitcoin amendments'

by Dentons on

Digital currency providers will soon be required to adhere to the AML/CTF standards required for remittance sector providers. Providers will be required to...more

ASIC product intervention power for credit products

by Dentons on

Draft legislation to give ASIC a product intervention power in relation to financial products and credit products has been released by Treasury. Submissions on the draft legislation are due by 9 February 2018. This...more

ACCC Increases Enforcement of Consumer Guarantees Against Airlines

by Jones Day on

The Situation: Following consumer complaints, the Australian Competition and Consumer Regulator ("ACCC") has released a report reminding airlines of obligations when dealing with the flying public. Looking Ahead: The ACCC...more

Australian agencies responsible for the enforcement of foreign bribery laws release self-reporting guidelines

by Allen & Overy LLP on

The Australian government agencies responsible for investigating and prosecuting foreign bribery have released joint best practice guidelines that indicate how they will approach self-reporting by companies voluntarily...more

Australian Securities Exchange Selects Distributed Ledger Technology to Replace CHESS

by Bennett Jones LLP on

Amidst the frenzy surrounding the rapid appreciation of cryptocurrency values it is easy to forget that the technology underlying crypto—blockchain or distributed ledger technology (DLT) —may ultimately be the real story. The...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

Robert Jackson and Hester Peirce were sworn in as Commissioners yesterday by Chairman Clayton. Mr. Jackson joined the agency from NYU School of law where he was a professor....more

Developments in the Australian medicinal cannabis industry

by Dentons on

There have been significant developments in the Australian medicinal cannabis industry with the Turnbull Government now permitting the export of Australian manufactured medicinal cannabis products. This, in conjunction with...more

2017 – It was biotech and pharma who kept the Australian legal system busy

by FPA Patent Attorneys on

2016 saw the Australian legal system deal with the questions that ranged from defining a human being to defining an inventor. 2017 proved to be just as interesting, and just as informative for patentees and applicants as to...more

European Commission Declares Trading Venues in Australia, Hong Kong and USA Equivalent Under the Revised Markets in Financial...

by Shearman & Sterling LLP on

The European Commission has adopted Implementing Decisions for equivalence of the legal and supervisory framework of Australia, Hong Kong and the USA for national securities exchanges and alternative trading systems in...more

Uber and Out… Gig is Up for Digital Worker

by K&L Gates LLP on

On 21 December 2017, Deputy President Val Gostencnik of the Fair Work Commission issued a decision in the matter of Michail Kaseris v Rasier Pacific V.O.F., an unfair dismissal application in which the jurisdiction of the...more

Melbourne Property Investor Alert: New Tax on Vacant Residential Properties

by K&L Gates LLP on

With effect from 1 January 2018, owners of residential properties in certain Melbourne suburbs, which have been unoccupied for more than six months in a calendar year, will be liable to pay the Victorian Government's new...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

This is the second of two articles reviewing events that took place during the holidays. Specifically, the first article appeared yesterday and reviewed key events concerning securities enforcement litigation from December...more

Australian Government releases hybrid mismatch rules to counteract entities exploiting differences in the taxation treatment of an...

by DLA Piper on

Introduction and overview - The Australian Treasurer, the Hon Scott Morrison MP, on Friday 24 November, released exposure draft legislation to prevent entities that are liable to Australian income tax from avoiding income...more

Australia: phoenixing reform rising beyond the safe harbour

by DLA Piper on

Australian insolvency law reform is gaining momentum. In September 2017, we saw the Treasury Laws Amendment (2017 Enterprise Incentives No. 2) Bill 2017 receive royal assent, introducing a new safe harbour for directors who...more

"Absolute Liability" for a Failure to Prevent Foreign Bribery: Significant Change Ahead in Australia?

by Jones Day on

On 6 December 2017, Australia's Federal Government tabled the Crimes Legislation Amendment (Combatting Corporate Crime) Bill 2017 ("Bill"), which contains various amendments to Australia's foreign bribery regime, including...more

Navigating the Safe Harbour – To Disclose or not to Disclose?

by K&L Gates LLP on

The Safe Harbour reforms that became law on 19 September 2017 aim to create a better environment for the effective corporate rescue of distressed companies. By removing the perceived fear of insolvent trading from directors...more

Australians told not to take a punt on their AML policies – A review of the first judicial analysis of key provisions in the...

by Allen & Overy LLP on

Introduction - On 10 November 2017, Justice Perram released his reasoning for approving the A$45 million total penalty that had been agreed between AUSTRAC and Tabcorp (available here). As it is the first judgment handed...more

Health Alert (Australia) 20 December 2017

by DLA Piper on

In This Issue: - Judgments; Legislation; and Reports. - Excerpts from Judgments: 13 December 2017 - Waldron v Joondalup Hospital Pty Ltd [2017] NSWSC 1728 - LIMITATION OF ACTIONS – application for extension of time...more

Advertising of unapproved therapeutic goods may soon be permitted

by Dentons on

Therapeutic Goods Amendment (2017 Measures No. 1) Bill 2017 and Therapeutic Goods (Charges) Amendment Bill 2017 (collectively, the Bills) propose to bring significant changes to the Therapeutic Goods Act 1989 (the TG Act) and...more

A Modern Slavery Act For Australia

by Seyfarth Shaw LLP on

Over 40 million people around the world are trapped in conditions of modern slavery, according to estimates from the Walk Free Foundation and International Labour Organization, including an estimated 4300 victims “hidden in...more

Monthly Update - Australian Labour & Employment - November 2017

by Jones Day on

MESSAGE FROM THE EDITOR - In this edition of the Update, we report on Woolworths' commitment to identify and address human rights risks in its Australian supply chains. We then discuss a class action expected to be lodged...more

Accelerating Towards Changes In CoR And Heavy Vehicles

by Seyfarth Shaw LLP on

Throughout 2017 we have been supporting clients to prepare for changes to the Heavy Vehicle National Law (HVNL), effective mid 2018. In our Safeguard Series, we partnered with the Australian Logistics Council (ALC),...more

Health Alert (Australia) 11 December 2017

by DLA Piper on

In This Issue: - Judgments; Legislation; and Reports. - Excerpts from Judgments: 1 December 2017 - Laerdal Medical Pty Ltd and Comptroller-General of Customs AATA 2427 - CUSTOMS – whether subject goods accessory –...more

Maxed Out: Unfair Dismissal Claims Recognised for Fixed Term Employees

by K&L Gates LLP on

A recent decision of the Full Bench of the Fair Work Commission delivered last Friday has substantially changed the unfair dismissal landscape and the law governing fixed and maximum term contracts of employment, putting...more

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Cybersecurity

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