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)”
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)”
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)”
Welcome to Part 2 of our two-part deal protection series. In this article, we’ll explore the United Kingdom and United States’ approaches to deal protection devices. To review Part 1: deal protection 101, please click here. How does Australia’s approach to deal protection devices differ to the position taken in the United Kingdom and the …
Continue reading “Deal protection – an international comparison”
Deal protection devices are a common feature of ‘friendly’ control transactions in Australia. The Australian Takeovers Panel (Panel or Australian Panel), provides guidance as to the acceptable use of deal protection devices in control transactions. In 2023, the Panel updated its guidance on deal protection devices (previously referred to as lock-up devices) to provide specific …
Following submissions from the Australian Securities and Investments Commission (ASIC), the Parliamentary Joint Committee on Corporations and Financial Services has commenced an inquiry into proposed increases to the financial threshold limits for investors to qualify as ‘sophisticated’. If implemented, the increased thresholds would represent the first change from the limits introduced with the inception of …
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On 18 January 2024, the Australian Law Reform Commission (ALRC) tabled its final report into the legislative framework for corporations and financial services regulation, containing 58 recommendations that aim to transform corporations and financial services legislation into a more efficient and user-friendly legislative framework. We summarise the recommended legislative framework below and explore ALRC’s proposed …
Continue reading “The ALRC’s solution for simplifying financial services laws”
This article was originally featured in the September edition of the Governance Institute of Australia: Governance Directions journal. ‘Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here’[1] — John J Ray III The recent failure of the FTX …
Continue reading “The FTX collapse: The governance red flags top-tier investors ignored”
Foreign ownership of water All foreign persons (including foreign owned companies and trusts) must notify the Australian Taxation Office (ATO) by 30 July each year if the foreign person acquired a registrable water interest during the previous financial year and continues to hold that interest at 30 June. A registrable water interest means any ‘registrable …
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After a three-month public consultation period, the publication of an Issues Paper in August 2022, 136 written submissions and a year in review, on the 25 May 2023, the landmark review of Australia’s Modern Slavery Act 2018 (Cth) (Act) was tabled as a report in Parliament (Report). The review was led by Professor John McMillan …
Last year we highlighted the impact that ESG initiatives are having on financing Australia’s significant resource and renewable industry. 12 months down the track, and access to capital to fund the next wave of projects and investment continues to be one of the major challenges for Australian project operators, however the new era of reporting frameworks …
Continue reading “Money talks – reporting convergence across project finance and capital raising”
Introduction The Australian Government’s Critical Minerals Strategy 2022 lists 26 minerals as priority areas for development and investment in Australia. These minerals are not new discoveries, but their application to new technologies presents a significant economic opportunity for Australia: they represent a transitional sector which will reduce carbon emissions, and are a major national security …
The realisation of offshore wind projects in Australia is shifting closer, thanks to a more renewables-focused Commonwealth Government, increased cost competitiveness of renewable projects, and fluctuations in the fossil fuel markets. Australia moves to declare its first offshore renewable energy zone Most recently, the Minister for Climate Change and Energy, Chris Bowen MP, announced his …
On 10 February 2022, the Federal Government passed long-awaited legislation making permanent the (originally temporary) measures regarding electronic execution by an Australian company, being measures that were first introduced in response to the COVID-19 pandemic. Specifically, the Corporations Amendment (Meetings and Documents) Bill 2021 (Cth)(Bill) provides permanent reform under the Corporations Act 2001 (Cth) (Corporations …
Continue reading “Execution: permanent reform has finally arrived”
