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) â 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. Â 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 â 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 Governmentâs drive to develop Australiaâs 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 Fundâs (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 serviceâ for the purpose of eligibility for long service leave under the Industrial Relations Act 2016 (Qld) (IR …
Partner, Belinda Breakspear and Senior Associate, Harriet Young, have authored the Australian chapter of The Global Legal Post Luxury Law Guide 2024. The second instalment of our two-part series addresses privacy and endorsement, product placement regulation, and corporate image protection trends for luxury brands in Australia. Download the full chapter here or read below. 4. …
Partner, Belinda Breakspear and Senior Associate, Harriet Young, have authored the Australian chapter of The Global Legal Post Luxury Law Guide 2024. The first instalment of our two-part series highlights the key considerations involved in trade mark ownership, protection, copyright law, and design law for luxury brands in Australia. Download the full chapter here or …
Yet more changes are on the way for Queenslandâs work health and safety laws, with the Honourable Grace Grace introducing the Electrical Safety and Other Legislation Amendment Bill 2024 into the Queensland Parliament on 22 May 2024. If passed in its current form, the Bill would introduce significant changes to Queensland safety laws, namely the: …
Continue reading “Queensland Health and Safety Laws â even more changes in store in 2024”
As we approach the Federal Budget, the Australian Government has recently detailed several significant changes affecting Capital Gains Withholding, Foreign Investment Fees, State Property Taxes, and the Deductibility of Interest Charges. These changes may have far reaching, and possibly unintended, consequences. The first legislated change related to the International Tax Agreements Act 1953, which ensured …
In March 2022, we published an article (Execution of documents â where do things stand?) addressing the law regarding the execution of documents in Australia following various changes implemented as a result of the COVID-19 pandemic. Thankfully, the anticipated reforms mentioned in that article are now permanent, and the market is moving towards greater acceptance …
Directors and officers (D&O) have a wide range of statutory and common law duties and responsibilities. Failing to discharge those duties may expose a director or officer to legal action and personal liability from a number of sources. Businesses and their senior management maintain insurance cover under D&O Liability and Statutory Liability policies to deal …
Continue reading “Is this the end of statutory liability insurance?”
Amendments to Resources Safety Acts slated for 2024 Comprehensive regulatory reforms are proposed for Queenslandâs resources sector through the introduction of the Resources Safety and Health Legislation Amendment Bill 2024 (Qld) (Bill). The Bill seeks to amend Queenslandâs Resources Safety Acts (as well as their associated Regulations), made up of: The 242 page Bill was …
Continue reading “Overhauling health and safety regulations in Queenslandâs resources sector”
Late last year, by narrow majority, the High Court of Australia ruled in Vanderstock v State of Victoria [2023] HCA 30 (Vanderstock) that the Victorian Zero and Low Emission Vehicle Distance-Based Charge Act 2021 (Vic) (ZLEV Act) was unconstitutional and invalid, given the annual charge imposed by the Victorian Government was a âduty of exciseâ …
Continue reading “Taking âstockâ: legality of State mining royalties following Vanderstock”
In June 2023, the Federal Government published the Critical Minerals Strategy 2023â2030, setting out the governmentâs vision to grow Australiaâs critical minerals sector. Australiaâs Critical Minerals Strategy Key objectives of this Strategy include: The Strategy includes six key focus areas: By 2030, the Strategy aims to have grown the geostrategic and economic benefits of its …
On 20 March 2024, the Commercial and Industrial Property Tax Reform Bill 2024 (Vic) (Bill) was introduced to the Victorian Parliament. The Bill was passed by the Legislative Assembly without amendment on 2 May 2024, and is due to be debated in the Legislative Council on 14 May 2024. The Bill will establish an annual …
Continue reading “Victorian Commercial and Industrial Property Tax Update”
Welcome to Part 2 of our two-part deal protection series. In this article, weâll explore the United Kingdom and United Statesâ approaches to deal protection devices. To review Part 1: deal protection 101, please click here. How does Australiaâs 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 âfriendlyâ 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 âsophisticatedâ. If implemented, the increased thresholds would represent the first change from the limits introduced with the inception of …
Continue reading “Anticipated changes to âsophisticated investorâ threshold”
On 31 January 2024, the NSW Supreme Court (NSWSC) issued a judgment in the matter of Gispac Pty Ltd v Michael Hill Jeweller (Australia) Pty Ltd, awarding $2.2 million in damages against Michael Hill. The facts The facts of the dispute, which generally pertained to issues of contract law in an online context, were as …
After 27 years, the Australian Standard General Conditions of Contract, AS4000, is receiving an update. The proposed update has just been released for public comment until 29 May 2024 and is accessible via the Standards Australia website here. [i] Although a lot has changed in 27 years, the amendments to AS4000 are not radical. The drafting …
Following our December 2023 article where we listed the top five upcoming changes to Queenslandâs work health and safety laws, the Work Health and Safety Amendment Bill 2023 (Bill) passed Parliament on 21 March 2024. The Bill, which amends the Work Health and Safety Act 2011 (Qld) (WHS Act), implements recommendations from the: Was the …
Continue reading “Queenslandâs WHS Act amended⌠and more to come”
Two recent decisions have highlighted the balancing of interests that an employer must aim for when handling workplace misconduct processes. Both cases involved employees claiming workers compensation for psychological injury arising during the initial phases of a workplace investigation into their conduct, prior to knowing the details of the allegations against them. The cases illustrate …
Continue reading “Workplace misconduct process best practice”
Changes to the calculation of development costs commenced on 4 March 2024, with the NSW Government implementing the âestimated development costâ (EDC)[1] for proposed development. The EDC will replace âcost of developmentâ and âcapital investment valueâ to estimate proposed development costs. In addition, State Environmental Planning Policy (SEPP) amendments will ensure planning instrumentsâ consistency by …
Continue reading “NSW Government’s overhaul of development cost calculation and planning policies”
