JD Supra (Blogs)

• JD Supra Australia

After many years of limited action on climate change, a change in federal government has seen Australia set a target to reduce emissions by 43% below 2005 levels by 2030 and achieve net zero by 2050. In its first budget the new federal government announced close to AUD25 billion of commitments to clean energy, which has been well received as a demonstration of its commitment to fast-track the...

• JD Supra Australia

With the election outcome signalling a ‘climate mandate’ of some description, it’s likely that we will see renewed efforts to introduce enhanced climate disclosure and standardised reporting obligations to bring Australia in line with many other jurisdictions. Please see Publication below for more information.

• JD Supra Australia

The construction sector in Australia has long been affected by insolvency and broader liquidity issues. In the last year, construction companies accounted for 26% of businesses that entered into insolvency, and insolvencies in the construction sector more than doubled. This year, contractors have been further squeezed by inflation, supply chain issues and labour market shortages. As the federal...

• JD Supra Australia

As the new Parliament prepares to sit, it is useful to consider the new Labor Government’s key focus areas for competition policy. These changes are intended to further strengthen consumer and small business rights and deter competition law breaches. Labor’s appointment of an economics professor, Dr Andrew Leigh, to Assistant Treasurer (with responsibilities for competition policy)...

• JD Supra Australia

The Australian Competition and Consumer Commission (ACCC) has just published its compliance and enforcement priorities for FY 2022/23. For the first time, the ACCC has aligned its annual priorities to the financial year. It promises to be a significant year with the ACCC's leadership changing, with the baton soon to be passed from the outgoing Chair, Rod Sims (who has been at the ACCC's helm for...

• JD Supra Australia

Australia has a high uptake of vaccination to COVID-19, partly due to enforceable public health orders at State level which require classes of workers to be vaccinated if they are to work outside of their home. As at the date of writing, the position is summarised below. Commonwealth - The Federal Government has not mandated vaccination but has endorsed state...

• JD Supra Australia

What you need to know Under Australia’s foreign investment regime, certain types of investments by foreign private investors or foreign government investors need to be notified to, and reviewed and a statement of no objection is issued by the Australian Treasurer (“Treasurer”). This process is referred to as “obtaining FIRB approval”. The Foreign Investment Review Board (“FIRB”) reviews foreign...

• JD Supra Australia

There has been significant progress in the Commonwealth and State Governments’ plans to develop a hydrogen industry in Australia since our original Australian Hydrogen Projects Paper that was published in 2020. Alongside and in collaboration with domestic and foreign developers, investors and energy buyers, the Commonwealth and State Governments have continued to support the development of...

• JD Supra Australia

On 1 June 2021, the Australian Government released amendments to the Franchising Code of Conduct and a number of these have already begun to apply. A summary of when various key changes take effect is set out below.

• JD Supra Australia

In the past month, a number of landmark developments have occurred in climate change law in Australia and overseas, which have the potential to materially impact emissions intensive corporations and projects. These reflect the ongoing willingness of courts to intervene and regulate carbon dioxide emissions based on actions founded in tort and negligence.

• JD Supra Australia

This edition of the Update covers: 1. Recent legal and regulatory developments, including the release of ASIC's immunity policy for market misconduct offences, a FATF consultation on proliferation of financial risk and digital currency, and ASIC and APRA's focus on the management of cyber risk and climate risk; 2. A recent decision of the Full Court of the Federal Court of Australia upholding

• JD Supra Australia

New breach reporting obligations for Australian financial services and credit licensees come into effect on 1 October 2021. This post considers ASIC’s draft guidance on some of the key features of these reporting obligations.

• JD Supra Australia

The Federal Court of Australia has found that the Commonwealth Minister for the Environment has a duty of care to children when deciding whether to approve a project under the EPBC Act that would facilitate carbon emissions.

• JD Supra Australia

Just days from the NSW ski season opening, the NSW Land and Environment Court (Court) has delivered its second decision in relation to the ongoing prosecution of Charlotte Pass Snow Resort Pty Ltd (Ski Resort) by the Environment Protection Authority (EPA).

• JD Supra Australia

The Situation: In line with other UNCITRAL Model Law jurisdictions, in Australia, the grounds on which to challenge the outcome of a commercial arbitration are narrowly circumscribed. Having chosen to resolve their disputes via binding and final arbitration, parties will not be readily afforded a second chance to re-agitate their claims before national courts. The Development: A recent

• JD Supra Australia

Key points - The Victorian government has released its Budget for 2021-22, which includes proposed increases in the rates of stamp duty, land tax and payroll tax as well as the proposed introduction of certain temporary exemptions and concessions and a new tax on windfall gains from land rezonings.

• JD Supra Australia

A joint hearing between the Federal Court of Australia (FCA) and the High Court of NZ (NZHC) has broken new ground. In proceedings brought by the liquidators of Halifax Investment Services Pty Ltd (In Liquidation) (Halifax Australia) and Halifax New Zealand Limited (In Liquidation) (Halifax NZ), in the FCA and the NZHC respectively, the Courts delivered on 19 May 2021, contemporaneous judgments...

• JD Supra Australia

As announced in the Federal Budget 2021-22, the Government will encourage innovation in Australian medical and biotech technologies by introducing a "patent box" system. From 1 July 2022, the patent box will tax income derived from Australian medical and biotech patents at a 17% effective concessional corporate tax rate (as opposed to the current corporate tax rate of 30% for large...

• JD Supra Australia

Recently, Ad Standards Australia (Ad Standards) found two social media influencers breached the Australian Association of National Advertisers Code of Ethics (the Code) in relation to their obligations to disclose paid promotions on social media platforms.

• JD Supra Australia

Australia's Federal Treasurer, Josh Frydenberg, has handed down a Budget aimed at economic recovery as Australia emerges from a pandemic and brief recession.

• JD Supra Australia

Australia's competition authority settles allegations that port operator misused its market power. The Australian Competition and Consumer Commission ("ACCC") secured a declaration in its first action under Section 46 of the Competition and Consumer Act ("CCA"), amended in 2017, that prohibits "misuse of market power". The 2017 amendment prohibits a company with...

• JD Supra Australia

Not to scare you, but 2021, and October 2021 in particular, is bringing with it an onslaught of regulatory change to financial institutions in Australia. From changes to AML/CTF, strengthened breach reporting for AFSL holders and new breach reporting obligations for ACL holders, to new initiatives such as the Design and Distribution Obligations (plus much more) it has never been more

• JD Supra Australia

The Full Court of the Federal Court held on May 10, 2021 that Liquidators were not entitled to apply the so called “peak indebtedness rule” for the purpose of determining whether there was an unfair preference under Section 588FA(1) of the Corporations Act 2001 (Cth).

• JD Supra Australia

Foreign entities looking to register Australian domain names need to be aware that the eligibility requirements have changed and the threshold is now much higher. If a foreign entity is relying on a registered Australia trademark to meet the Australia presence requirement, they must ensure that their domain is an exact match to that trademark.

• JD Supra Australia

There have been a number of policy and funding developments applicable to the hydrogen energy industry in Australia since the release of K&L Gates' The H2 Handbook in October last year. These developments have come at both commonwealth and state level and highlight the current governmental appetite to foster the emerging Australian hydrogen industry and to position Australia as a global...

• JD Supra Australia

Judith Rinearson and Jeremy McLaughlin sit down with payments lawyers to cover the fintech market place, trends, and developments around the world in the Payments Across the Globe mini-series. In this episode Jeremey McLaughlin and Daniel Knight discuss developments in Australia, including post pandemic retail spending surge, a niche approach in fintech, cryptocurrency activity, and more.

• JD Supra Australia

The last remaining exemption for owner-occupier construction contracts from the operation of the Building and Construction Industry Security of Payment Act 1999 (NSW) (SOP Act) was repealed on 1 March 2021. Contractors under owner-occupier residential construction projects will be entitled to make claims for payment under the SOP Act, including making and enforcing adjudication applications.

• JD Supra Australia

The Australian government has announced proposed reforms to Australia's offshore oil & gas regulation, which are aimed at achieving appropriate stewardship of assets by increasing government scrutiny over oil & gas transactions and expanding the current trailing liability provisions for decommissioning and remediation. This month the Australian government released a...

• JD Supra Australia

The Situation: It is increasingly common for Australian class actions to be brought by private plaintiffs at the same time as regulatory proceedings are brought by Australia's corporate, competition and other regulators in respect of the same subject matter. A judge of the Federal Court of Australia determined that he would hear consecutively a civil penalty proceeding and a related class action,

• JD Supra Australia

To vary a development standard in an environmental planning instrument, an application must be made under clause 4.6 of the relevant local environmental plan. This clause enables a variation to a development standard to be approved, provided the matters set out in that clause are satisfied.