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Introduction of a temporary levy on offshore petroleum production: what you need to know
Insight 19 Jul 2021

In the 2021-22 Federal Budget the Government announced the introduction of a temporary levy on offshore petroleum production to recoup the decommissioning and remediation costs. This is designed to ensure that industry bears the costs and not taxpayers. The levy will apply as of 1 July 2021 and will be administered by the ATO. ...

National Electricity and Gas rules update: June 2021
Insight 16 Jul 2021

In our latest update, we examine the progress of new and existing rule change requests to the AEMC across the month of June, as well as take a closer look at the AER's Compliance and Enforcement Priorities for 2021-22. ...

Potential licensing relief for Foreign Financial Service Providers
Insight 15 Jul 2021

Following on from the 2021-22 Federal Budget announcement in May relating to additional licensing relief for Foreign Financial Service Providers (FFSPs), on Friday 9 July 2021, Treasury released a Consultation Paper titled 'Relief to Foreign Financial Service providers', which canvasses a range of potential options. This marks the next step in the long and winding FFSPs licensing relief saga. ...

Allens advises on US$750m LNG infrastructure investment
News 14 Jul 2021

TGA retains full control and ownership of its 27.5% interest in the Gladstone LNG Project joint venture. 'We congratulate GIP on another landmark acquisition', said lead Partner Igor Bogdanich. 'Th ...

Allens advises on landmark $2.2bn green and social refinancing for the new Royal Adelaide Hospital project
News 14 Jul 2021

Allens has advised the Senior Financiers and Green and Social Loan Coordinators on the $2.2bn refinancing of the new Royal Adelaide Hospital (RAH) project, Australia's largest hospital project and the first public private partnership in Australia to be financed through a green and social loan under the Green Loan Principles (GLP) and Social Loan Principles (SLP) published by the Asia Pacific Loan Market Association. ...

In Touch: Multiple Federal Court rulings on unconscionable conduct and false and misleading representations; and other developments
Insight 14 Jul 2021

Brownes Dairy's non-compliance with Dairy Code; Captain Cook College acted unconscionably; Nine Entertainment Co pays penalties; proposed ACCC authorisation of Country Press Australia collective bargaining agreement; Federal Court orders $1.2 million penalty on Sumo; and Geowash appeal dismissed ...

Allens advises Pacgold Limited on IPO and ASX Listing
News 13 Jul 2021

Pacgold's key exploration asset is the Alice River Gold Project in North Queensland, which comprises mining leases and exploration permits for high-grade gold targets surrounding a historical ...

Allens appoints 50 new senior associates
News 12 Jul 2021

The promotions span all of the firm's practice groups and Australian offices. 'We are delighted to congratulate our newest senior associates,' said Managing Partner Richard Spurio. 'This important ...

Allens advises Morgan Stanley Infrastructure Partners on $3.3bn PEXA IPO
News 12 Jul 2021

MSIP sold its entire 40 per cent stake in PEXA as part of the IPO, which valued PEXA at $3.3 billion. Allens previously advised MSIP on the $1.6 billion buyout of PEXA in late 2018, alongside ...

Federal Court decision highlights it's vital to get incentives right and have strong governance systems
Insight 09 Jul 2021

The recent Federal Court decision ACCC v Telstra [2021] FCA 502 highlights an emerging risk area for boards and senior management in the use of incentive-based remuneration and sales targets for consumer-facing businesses ...

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