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High Court affirms governments' power to pass 'draconian' seizure laws
The High Court recently handed down its decision in Attorney-General NT v Emmerson Partner Peter ODonahoo Senior Associate Tim Maxwell and Lawyer Simone Kaser review the decision with respect to the courts analysis of the limits on Commonwealth and Territory legislative power under the doctrine of ...
When is a trust a commercial necessity?
The High Court has held that the proceeds of a forestry investment scheme were not held on trust for the investors by the operators of the scheme. ...
ASIC's employee incentive scheme class orders - new and improved
After much anticipation ASIC has released new employee incentive scheme class order relief Partner Greg Bosmans and Special Counsel Gadi Bloch members of Allens Head Office Governance team report on the implications for listed and unlisted companies ...
Take care! Court confirms the devil in the details for PPSA registrations
In a recent case a leasing company lost 23 million worth of leased equipment because it had registered the lease against the lessee companys ABN rather than its ACN - involving just two extra digits The equipment vested in the lessee company when it went into voluntary administration The court ...
A framework for CIPRs or just more work for super trustees?
Treasury released a paper seeking feedback on a framework for Comprehensive Income Products for Retirement. It will permit trustees to offer members on a 'soft default' basis 'mass-customised, composite retirement income products' and, to encourage trustees ...
Innovative Superannuation Income Streams - at last
Earlier today Treasury released exposure draft regulations for Innovative Superannuation Income Streams They set out income stream standards that will be relevant for products such as deferred annuities and group self-annuitised products The Allens Superannuation team reports ...
Conflicted remuneration and life insurance
Exposure draft life insurance regulations were released yesterday They are a marked departure from the existing conflicted remuneration provisions Now a benefit can only be conflicted remuneration if it could reasonably be expected to influence financial product advice These regulations will create ...
Comply or say bye to your franchise!
With the new Franchising Code of Conduct and civil pecuniary penalties set to commence in 2015 a recent Full Federal Court decision is a timely warning to franchising parties to ensure their practices comply with the Code ...
100 member rule to be abolished
The 100 member rule for convening company meetings will be abolished under legislative amendments introduced into Parliament this week following consultation by the Federal Government on draft legislation earlier this year Proposed streamlining of remuneration disclosure obligations is also still ...
It's crunch time! Changes to the Franchising Code are nigh
The long-anticipated changes to the Franchising Code of Conduct are scheduled to take effect on 1 January 2015 Partners Tim Golder and Andrew Wiseman and Lawyer Nadia Guadagno report on the significant changes ...