All publications relating to ‘Commercial’
Should Australia adopt a Director Identification Number (DIN) requirement?
Should Australia Adopt a Director Identification Number (DIN) Requirement? On 13 February 2019, the Treasury Laws Amendment (Registries Modernisation and Other Measures) Bill 2019 was introduced to the Australian Parliament (Amendment Bill). The Amendment Bill proposed a director identification number (DIN) requirement as part of a suite of Government initiatives which attempt to…
Change the rules – which ones? What businesses need to know about Labor’s employment policy
The Federal Election is less than two weeks away and the Australian Labor Party (Labor), has announced a robust and ambitious reform agenda. Within this reform agenda are key changes to the Australian Fair Work régime, and the question arises as to how will these changes impact Australian businesses if Labor…
When a distributorship ends – who gets the naming rights?
Introduction When an exclusive distributorship between an overseas principal and an Australian distributor ends, the issue of the ownership of intellectual property generated or used during the distribution period should logically be addressed in the distribution agreement. Unfortunately, this issue is often not addressed adequately and disputes can arise between…
Crowd-sourced funding extended to private companies
From 19 October 2018, private companies can seek finance through the equity crowd-sourced funding (CSF) régime that was previously open only to public companies. CSF is a mechanism (an online platform) that allows eligible companies to raise capital by offering securities (only new ordinary shares) in the company to a large number of…
Privacy — It is everyone’s business
Even if you have no interest in privacy law, you would need to be living on a planet in a galaxy far, far away not to be aware of the GDPR. GDPR The GDPR (General Data Protection Regulation), came into operation on 25 May 2018. During the weeks leading up to that date…
Equity Crowd Source Funding Part 2: Regulatory Update
Australia’s equity crowd source funding régime (CSF Régime) came into effect in Australia on 29 September 2017. The relevant provisions now sit within Part 6D.3A of the Corporations Act 2001 (the Act) and of the Corporations Regulations (2001) (the Regulations). The CSF Régime offers an opportunity for start-ups and small…
Why your business needs a company power of attorney — Five things to know
A complete estate plan for a family in business must consider a power of attorney for all companies in the group. A power of attorney is an instrument that gives authority to another person to act on behalf of the principal. An individual power of attorney gives your attorney legal authority to manage…
What happens when the sole director and shareholder of a company dies?
A successful business can come to a crashing halt if the sole director and shareholder dies. If there is no director or shareholder, the company may become paralysed, face cash flow problems if the deceased was the sole signatory of bank accounts, be unable to pay its employees; or, at worst…
Former directors need to watch their step
Introduction It is not unusual for former directors of companies to set up in competition against their original companies. When they do so, they need to watch their step. Former directors may find themselves in a potential minefield with legal mines at every turn. A salutary lesson for former directors involved the…
Penalties in Commercial Contracts
In Brief In our previous issue, we examined the general law of penalties in contracts, particularly in light of the recent High Court decision, which held that credit card late payment fees charged by ANZ were not penalties.[1] The significance of a clause being regarded as a penalty is that it is…