Legislation & Regulatory Updates

In our blog on 31 March 2020, we discussed the temporary measures introduced by the Australian Government which apply during the COVID-19 pandemic, and alluded to possible permanent reforms to Australia’s foreign investment framework. On 5 June 2020, the Australian Treasurer announced a 21 point reform package to change how foreign investment proposals are assessed […]

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On Sunday 29th March 2020, the Australian Treasurer, Josh Frydenberg announced temporary changes to the Foreign Investment rules, including that: the threshold amount which determines whether particular foreign investments are subject to official review has been reduced to $0.; the statutory timeframe for reviewing each application is extended from 30 days to 6 months after […]

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In response to the impact COVID-19 may have on a company’s ability to hold upcoming AGMs, ASIC issued media release 20-068MR on 20 March 2020 containing guidelines for companies seeking to meet AGM requirements. The takeaways from the release are outlined in this blog. Postponement  Companies with a financial year end of 31 December 2019 […]

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The Australian Securities Exchange (ASX) has issued a consultation paper setting out proposed major amendments to its listing rules and guidance notes in order to “simplify, clarify, and enhance the integrity and efficiency of, the ASX listing rules”. The consultation paper was released on 28 November 2018, and can be accessed here. As the paper’s […]

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In addition to the changes introduced 1 July 2015 to the existing deferral rules that apply to employee share schemes, significant changes were also introduced to provide employees of Australian start-up companies with more favourable taxation outcomes in relation to particular ESS interests and to better align the taxation of these schemes with more mature […]

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Background Directors and officers insurance cover is typically provided on a ‘claims made and notified’ basis. Importantly, even after its expiry the policy may, subject to the policy wording, still respond to a claim made provided it arises from facts or circumstances notified to the insurer during the term of the policy.  If a policy […]

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ASIC has consolidated its guidance on forward-looking statements in the mining and resources industry (Information Sheet 214) and introduced new controversial requirements.

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A recent decision of the Takeovers Panel 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).

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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.

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The ASX has released a Consultation Paper in relation to its requirements for frontdoor and backdoor listings. We have outlined the key proposals.

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