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Nucleus – corporate law developments: Regulators assess priorities and continue to respond in the wake of COVID-19; changes to Australia's continuous disclosure laws, FIRB regime and Fair Work Act; ASIC broadens its position and issues further guidance; ASX holds course on the CHESS replacement system; the ACCC continues to allow market coordination; Takeovers Panel guidance on equity derivatives delayed
Insight 09 Jun 2020

Regulators assess priorities and continue to respond in the wake of COVID-19; the Treasurer temporarily modifies the operation of Australia's continuous disclosure laws; ASIC broadens its position and issues further guidance; ASX holds course on the CHESS replacement system; comprehensive reform and further guidance on the temporary changes to the FIRB regime; the ACCC continues to allow market coordination; Takeovers Panel guidance on equity derivatives delayed; and more temporary amendments to Fair Work Act. ...

Officer without office: High Court rules persons can be company officers despite absence of official title
Insight 10 Jun 2020

The recent decision of the High Court of Australia in ASIC v King considers the meaning and scope of the term 'officer', as defined in s9 of the Corporations Act 2001 (Cth), and contains important if non-binding observations on how the term may catch bankers and other third parties. ...

New SIC Guidelines and contributions reporting requirements
Insight 01 Jun 2020

The NSW Government is seeking feedback on a new set of guidelines for special infrastructure contributions (SIC Guidelines) and some proposed amendments to the Environmental Planning and Assessment Regulation 2000 (EPA Regulations) which will require greater reporting on the receipt and expenditure of contributions under local contributions plans and planning agreements. ...

RG 272 – bringing order through product intervention
Insight 23 Jun 2020

Following its consultation in June last year, ASIC has now published RG 272, setting out ASIC's approach to using its product intervention powers. In this update, we examine the scope of this power and the accompanying regulatory guidance. ...

Superannuation, funds and insurance sector reforms: the year ahead in 2020 and beyond
Insight 23 Jun 2020

As the dust settles on a raft of COVID-19 related disruptions to various proposed legislative and regulatory reforms, the Allens team takes stock of the current regulatory reform proposals in the superannuation, funds and insurance sectors which have been mooted for the tail end of 2020 and early 2021. ...

Vietnam insolvency guide for directors
Insight 11 Jun 2020

To help management, this Insight explores the insolvency and bankruptcy regulations in Vietnam, as well as the obligations and potential liabilities of management personnel of Vietnamese companies if their companies become financially distressed. ...

Temporary FIRB changes significantly lengthen application review periods
Insight 11 Jun 2020

On 29 March 2020, the Federal Treasurer announced major changes to Australia's foreign investment approval (FIRB) regime to address risks arising from the COVID-19 pandemic. ...

Unprecedented changes in the event of force majeure
Insight 12 Jun 2020

The COVID-19 pandemic and its broad-reaching economic impacts poses a significant challenge to the continuous operation of oil and gas projects in Australia. ...

Decommissioning
Insight 11 Jun 2020

The Department of Industry, Innovation and Science (DIIS) is currently reviewing the policy, regulatory and legislative framework for decommissioning infrastructure in Commonwealth offshore waters under the Offshore Petroleum and Greenhouse Gas Storage Act 2006 (Cth) (OPGGSA). ...

Overhaul of Victorian environmental laws delayed
Insight 11 Jun 2020

The Environment Protection Amendment Act 2018 (Vic) (EP Act), which was set to commence on 1 July 2020 (and overhaul environmental laws in Victoria) will now commence on 1 July 2021 as a part of a suite of emergency measures in response to COVID-19. ...

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