Monthly Archives: June 2012

Following Edelbrand Pty Ltd v HM Australia Holdings Pty Ltd [2012] NSWCA 31, construction management agreements which include the provision of building advisory services will be subject to the Building and Construction Industry Security of Payment Act 1999 (NSW). Download our alert now to read about how this affects you and your business.

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On 31 May 2012, Premier Newman announced that the Queensland Government would commence a transfer of planning powers in relation to Urban Development Areas (UDAs) from the Urban Land Development Authority (ULDA) to Local Authorities. The move comes amid ongoing speculation as to the future of the ULDA, which was identified as an item for review by the LNP during the 2012 election campaign.

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Need an AFS licence to participate in carbon markets?

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There have been significant recent discussions in the media about the many uncertainties surrounding carbon liabilities for landfill gas emissions. On the eve of the commencement of the Carbon Pricing Mechanism (CPM), Local Councils have expressed confusion, the Regulator has indicated that it is not in a position to provide financial advice and the landfill industry is asking its customers to make upfront payments to cover long term risks.

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With the introduction of a carbon pricing mechanism on 1 July 2012 and the federal government’s decision to treat carbon emissions units as financial products, participants in Australia’s carbon markets must now be considering whether they need to obtain an Australian Financial Services (AFS) licence to continue to operate their business.

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A new national business names register came into effect on 28 May 2012, and is managed by the Australian Securities & Investments Commission under the Business Names Registration Act 2011 (Cth) (“ASIC Register”). The ASIC Register replaced the previous system which required businesses to register in each State and Territory that they wished to trade in. Businesses now only need to register their business name with ASIC, with registration having effect throughout Australia.

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