New South Wales opens the door for judicial review of adjudicator’s determinations on non-jurisdictional grounds
In Probuild Constructions (Aust) Pty Ltd v Shade Systems Pty Ltd  NSWSC 770, the New South Wales Supreme Court considered the scope for challenging adjudication determinations made under the Building and Construction Industry Security of Payment Act 1999 (NSW) (BCISPA). The Court found that it had jurisdiction to quash an adjudicator’s determination on the […]
ASIC has consolidated its guidance on forward-looking statements in the mining and resources industry (Information Sheet 214) and introduced new controversial requirements. In brief INFO 214 sets out ASIC’s guidance regarding the ‘reasonable grounds’ that must exist for an entity to make forward-looking statements about its mining and resources production targets and financial forecasts. ASIC’s […]
A recent decision of the Takeovers Panel1 addressed the issue of shareholder intention statements in the context of a takeover offer. It is the first Panel decision to consider the issue of shareholder intention statements since the issue in December 2015 of the Takeover Panel’s Guidance Note 23 – Shareholder Intention Statements (GN 23). In […]
In brief The Australian Stock Exchange (ASX) has long been a destination for overseas companies looking to take advantage of the benefits of an ASX listing. This can be either as a primary listing or as a secondary listing in conjunction with a listing on an overseas exchange. As at April 2016, there were approximately […]
In brief The ASX has released a Consultation Paper in relation to its requirements for frontdoor and backdoor listings – ‘Updating ASX’s admission requirements for listed entities‘. It is proposed that the changes will take effect on 1 September 2016 and be applied to all listing applications received after that date. Under the proposal: financial […]
After having been delayed for several years, Papua New Guinea’s (PNG) new Personal Property Security Act (PPSA) (in its entirety, the PPSPNG) and associated register commenced on Monday, 9 May 2016. These laws and its register are similar to Australia’s Personal Property Securities Act 2009 (Cth) (called the PPSA), but with a number of major differences.
Tax agents and accountants now face significantly harsher penalties for two new accounting offences following the enactment of the Crimes Legislation Amendment (Proceeds of Crime and Other Measures) Act 2016 (Cth) which come into effect on 1 March 2016 and amends the Commonwealth Criminal Code Act 1995.