In the Corporations Act 2001 (cth) (Corporations Act),Australian Carbon Credit Units (ACCUs) and eligible international emissions units (EIEUs) are specifically defined as financial products. This is in addition to other financial products such as derivatives or interests in managed investment schemes. Anyone dealing in or advising on ACCUs, EIEUs, related derivatives or interests in managed …
Continue reading “ASIC updates its guidance on regulated emissions units (RG 236)”
Australia is gripped in a well-publicised housing crisis, which disproportionately impacts first home buyers. As a consequence, families with the ability to assist are increasingly exploring options to support their children to enter the property market. Several strategies exist to achieve this, each with their own advantages and disadvantages. Selecting a strategy requires a balancing …
In 2021, the Australian Government introduced the Fuel Security Act 2021 (Cth) (the Act) to establish a national fuel reserve, aiming to minimise the impact of supply disruptions on fuel users and industries, including in the construction, transport and resources sectors. The Act and the Fuel Security (Minimum Stockholding Obligation) Rules 2022 (Cth) require persons …
Good news for Australia’s critical minerals industry as Australia partners with other nations to establish Minerals Security Partnership Finance Network This week, Australia, the United States, Japan, Canada and 11 other nations announced the establishment of the Minerals Security Partnership Finance Network (Network),a joint financing body designed to fund critical minerals projects across the globe. …
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On 15 August 2024, the Residential Tenancies and Rooming Accommodation and Other Legislation Amendment Act 2024 (Qld) (Amending Act) received proclamation. The Amending Act primarily amends the Residential Tenancies and Rooming Accommodation Act 2008 (Qld) (RTRA Act), and introduced several significant changes with some already in effect as of 6 June 2024, as set out …
Continue reading “September shake-up: More residential tenancy law changes and what they mean”
Given the forthcoming Queensland state general election, it is important, not only for individuals within government, but also for businesses and stakeholders working with government or in government sectors, to understand the implications of the caretaker period. The caretaker period takes effect come election time to ensure the neutrality of public institutions and the smooth …
Continue reading “Caretaker countdown: Navigating the ‘caretaker period’”
Amid the excitement of the Olympics, another eagerly anticipated quadrennial event has rolled around: IP Australia’s fee updates. Australia’s intellectual property administrators announced several changes to trade mark, design, and patent fees that will take effect starting 1 October 2024. It is important for trade mark owners and professionals in the intellectual property field to …
Australia’s aged care sector has been the focus of reform for over a decade, spurred by increased scrutiny and the findings of the Royal Commission into Aged Care Quality and Safety. The need for change has been driven by the sector’s operational challenges and the identified systemic reform required to improve service quality and long-term …
Continue reading “The Aged Care Bill 2024 – navigating Australia’s proposed aged care reforms”
The Australian Government has taken a first step forward in its effort to bring Australian Privacy laws into the digital age, with the introduction of the Privacy and Other Legislation Amendment Bill 2024 (Bill) into Parliament last week. This announcement comes just shy of the one-year anniversary of the release of the Australian Government’s response …
A material that is re-purposed tells against a conclusion that the material is a ‘waste’ as defined in the Queensland legislation. The Queensland District Court recently decided the following things were not a waste: The District Court considered whether a material is a waste will depend on the state of mind of the person selling …
Continue reading “Queensland District Court rules on a narrow definition of waste”
The Fair Work Commission (FWC) has issued a ‘single interest employer authorisation’ (SIEA) in the first significant contested application determined under s248 of the Fair Work Act 2009 (Cth) (FW Act).[1] This outcome kicks off a process of multi-employer bargaining under the FW Act and sets the stage for a compelling case study of how …
Background on case At 277-293 Bong Bong Street, in the main street of the picturesque township of Bowral, is a largely vacant block which was once home to the Highlands Arcade. In 2021 an unexpected fire razed the building, necessitating demolition of most of the structures on the site. In July 2022 the owner of …
Continue reading “Court gives (parking) credit where credit is due”
In July 2021, defamation legislation in most States and territories in Australia was amended to introduce a requirement that a plaintiff suing for defamation must establish that they have suffered ‘serious harm’ to their reputation.[1] This change largely mirrored defamation legislation already in place in the United Kingdom[2] and was intended to effect a significant …
Continue reading “‘Serious harm’ to reputation – case law development in Queensland defamation law”
Leading independent Australian law firm McCullough Robertson Lawyers has announced the appointment of Melissa Miller as a Partner in the Digital and IP team based in Sydney. This appointment continues the growth of our Sydney office and advances our commitment to women in leadership as we head towards our centenary in 2026. Melissa joins McCullough …
Continue reading “McCullough Robertson appoints another female partner in Sydney”
Affordable housing and State Facilitated Development are now articulated in legislation by specific criteria, opening up a new approvals pathway intended to address the housing crisis. The Planning and Other Legislation Amendment Regulation 2024 (Qld) (Regulation) came into effect on 22 July 2024. The commencement of the Regulation is the final step in the current suite …
Continue reading “Queensland’s affordable housing approval pathway is ready to go”
In Issue 2, June 2023, of the STEP Australia Newsletter, the writer published a case note pertaining to the decision of Application of MLC Investments Limited (ACN 002 641 661) [2022] NSWSC 1541 which had, at the time, been recently determined.[1] The case discussed the relevance of a corrupt purpose to section 249E of the Crimes Act 1900 (NSW) (Crimes …
Foreign ownership of water The beginning of a new financial year means the time for foreign persons (including foreign owned companies and trusts) to notify the Australian Taxation Office (ATO) by 30 July of any acquisitions of registerable water interests during the previous financial year (and continues to hold at 30 June). Whilst foreign holders …
Continue reading “Foreign ownership of assets register – annual notification of water rights”
The Supreme Court of New South Wales has recently provided useful guidance regarding the applicable principles to set aside a statutory demand on the basis of a ‘genuine dispute’.[1] In the matter of One GC MQ Park Pty Ltd [2024] NSWSC 820, the company (One GC MQ Park Pty Ltd) received a statutory demand requiring …
In our series covering recent amendments to the Environmental Protection (Powers and Penalties) and Other Legislation Amendment Act 2024 (Powers and Penalties Act) and the Environmental Protection and Other Legislation Amendment Act 2023 (Qld) (EPOLA Act), we explore the updates to the contaminated land provisions below. Contaminated Land The management of contaminated land continues to …
Continue reading “From clean-up to compliance – new amendments to the contaminated land provisions”
As part of our series on the recent changes introduced by the Environmental Protection (Power and Penalties) and Other Legislation Amendment Act 2024 (Powers and Penalties Act), we highlight the addition of a new ‘enforcement tool’: an Environmental Enforcement Order. Environmental Enforcement Order An Environmental Enforcement Order (EEO) is a new compliance tool which aims …
Continue reading “Introducing the Environmental Enforcement Order: A new compliance tool”
As outlined in our recent article ‘Environmental protections strengthened with new Powers and Penalties Bill‘, the Environmental Protection (Powers and Penalties) and Other Legislation Amendment Act 2024 (Powers and Penalties Act) introduces significant changes to the Environmental Protection Act 1994 (Qld) (EP Act). Notice of proposed amendments (NOPA) process The Powers and Penalties Act amends …
Continue reading “Changes to the forced EA amendment process”
The Australian Federal Treasurer has announced policy reforms to Australia’s foreign investment framework intended to strengthen, streamline, and increase transparency to the regime through an updated Foreign Investment Policy document. The announcement came ahead of the 2024-2025 Federal Budget which provides additional funding, amongst other things, to increase the Foreign Investment Review Board’s (FIRB) monitoring …
When establishing a new private equity fund, investors and fund managers require a robust understanding of the governing legal and regulatory framework. This can be challenging given the complexity of legal, regulatory and compliance requirements. Throughout this two-part series, we cover the fundamentals of private equity fund formation in Australia. This is the second of …
Continue reading “Fundamentals: Private Equity in Australia (Part II)”
Just shy of its Golden Jubilee, the Property Law Act 1974 (Qld) will soon be abdicating its powers to the Property Law Act 2023 (Qld) (Act). As we await the commencement date of its substantive provisions, we continue our investigation into its noteworthy changes. One of the significant upcoming changes is the introduction of a …
Continue reading “Property Law Act 2023 (Qld) – changes to seller disclosure obligations”
On 6 June 2024, the Residential Tenancies and Rooming Accommodation and Other Legislation Amendment Act 2024 (Qld) (Amending Act) received assent and became law. The Amending Act amends the Residential Tenancies and Rooming Accommodation Act 2008 (Qld) (RTRA Act), and introduced a number of significant changes, including to the annual rent increase frequency limit, rent …
Continue reading “Further changes to residential tenancies in Queensland – what you need to know”
On 11 June 2024, the Environmental Protection (Powers and Penalties) and Other Legislation Amendment Bill 2024 was passed (Powers and Penalties Bill). The changes in the Powers and Penalties Bill arise from the recommendations of the Jones Review published in 2022. As the name suggests, the amendments seek to change the powers and penalties provisions …
Continue reading “Environmental protections strengthened with new Powers and Penalties Bill”
As discussed in our recent Emerging Issues Publication, the Federal Government’s drive to develop Australia’s critical minerals sector continues to see an increase in regulatory scrutiny, particularly Foreign Investment Review Board (FIRB) compliance. This has been demonstrated most recently following the Treasurer’s decision to order the divestment of Yuxiao Fund’s (and its associates) shareholding in …
Continue reading “FIRB Alert: Exercise of divestment powers”
On 11 June 2024, the Queensland Treasurer delivered the 2024-2025 Queensland Budget (the Budget), and introduced the Revenue and Other Legislation Amendment Bill 2024 (QLD) (the Bill) to the Queensland Legislative Assembly. The Bill will effect a number of revenue measures announced in the Budget, which we have summarised in this alert.
Overview of fund structures When establishing a new private equity fund, investors and fund managers require the right investment strategy and a robust understanding of the governing legal and regulatory framework. This can be challenging given the complexity of legal, regulatory and compliance requirements. Throughout this article and the next, we cover the fundamentals of …
Continue reading “Fundamentals: Private Equity in Australia (Part I)”
Last month, the Full Bench of the Queensland Industrial Relations Commission handed down its judgment in Fox v Infosys Technologies Ltd [2024] QIRC 109 (Fox). What transpires is an interesting outcome relating to the interpretation of ‘continuous service’ for the purpose of eligibility for long service leave under the Industrial Relations Act 2016 (Qld) (IR …
