Alert - Amaca v Estate of Cotton 05 March 2010 The High Court has handed down a unanimous decision in the matter of Amaca & Ors v Ellis; The State of South Australia v Ellis; and Millenium Inorganic Chemicals Ltd v Ellis (Cotton) [2010] HCA 5, a case on appeal from the Court of Appeal of Western Australia.

Alert - Habib v Commonwealth of Australia: strike-out application dismissed 02 March 2010 The Federal Court dismisses a Commonwealth application to strike-out a claim made by Mamdough Habib against the Commonwealth.

Alert - ACT employers and insurers affected by workers compensation amendments 23 February 2010 Changes to the ACT Workers Compensation Act 1951 increases accountability for ACT employers and introduces consistency with other jurisdictions on rehabilitation issues.

Alert - Securitisation and sell-downs - lessons from Goodridge 17 February 2010 A recent single-judge Federal Court decision has revisited how lenders can effectively deal with their contractual rights and obligations under loans. The case has clear implications for the margin lending industry and equitable title securitisation transactions, but also for a range of other loan transactions such as where lenders wish to sell-down rights under facility agreements.

Alert - New case increases uncertainty of GST's residential premises exemption 11 February 2010 In a somewhat surprising decision, the Federal Court in the case of Sunchen Pty Ltd v Commissioner of Taxation [2010] FCA 21 has handed down a judgment that potentially restricts the scope of 'residential premises' for GST purposes.

Alert - Proposed changes to Queensland Aboriginal Cultural Heritage Legislation 10 February 2010 The Queensland Government is currently considering amending the legislation governing Aboriginal and Torres Strait Islander Cultural Heritage in Queensland. Some of the proposed changes to the legislation, if enacted, may complicate cultural heritage compliance obligations. Companies have until 19 February 2010 to make submissions to the Queensland Government about the proposed changes.

Alert - Lord Justice Jackson's Review of Civil Litigation Costs 09 February 2010 Just as the Woolf Reform from the UK heavily influenced Hong Kong's 2009 Civil Justice Reform, the recently released Jackson Review promises to yield similar influence over costs of civil litigation in Hong Kong. This article focuses on Lord Justice Jackson's recommendations on the costs associated with construction litigation.

Alert - Two significant Australian copyright decisions handed down 05 February 2010 Two high-profile Federal Court decisions handed down on the same day will likely have significant impact on Australian copyright law. The decisions have attracted intense media interest, both in Australia and internationally.

Alert - Outcome of Independent Review of Commonwealth EPBC Act 02 February 2010 After a series of public consultations and hundreds of submissions, the Report of the Independent Review of the Environment Protection and Biodiversity Conservation Act 1999 has been released. The report makes a raft of recommendations to address specific concerns and issues with the Environment Protection and Biodiversity Conservation Act and its administration.

Alert - Further enhancement of APRA's regulatory powers 27 January 2010 The Australian Prudential Regulatory Authority (APRA) will have enhanced regulatory powers if amendments proposed under the Financial Sector Legislation Amendment (Prudential Refinements and Other Measures) Bill 2010 (Bill) go ahead.

Alert - Update: A simplified regime for product disclosure 22 January 2010 The Australian Government's simplified disclosure reform agenda is close to finalisation, with the release of draft Regulations for superannuation and managed funds.

Alert - Mandatory implementation of the building energy codes 24 December 2009 Developers of new buildings in Hong Kong will be impacted significantly by the recent introduction of the Buildings Energy Efficiency Bill into the Legislative Council. If passed in its current form, the new mandatory regime will also affect Hong Kong building owners, commercial tenants, industry consultants and contractors when conducting redevelopments on existing buildings.

Alert - Commonwealth Healthcare Identifiers Bill 2010 released for public comment 23 December 2009 The Commonwealth Government has released an exposure draft legislation that will assign a unique healthcare identifier number to healthcare providers and patients. The draft legislation aims to improve the management and communication of health information between providers while safeguarding patient privacy.

Alert - Aviation Policy White Paper calls for greater consultation and coordination 17 December 2009 The long awaited National Aviation Policy White Paper released yesterday by the Federal Minister for Transport, Anthony Albanese, calls for greater consultation and coordination around airport Master Plans and the establishment of a new Aircraft Noise Ombudsman. The White Paper represents the first time that all aspects of aviation policy have been addressed under a single policy.

Alert - First generation security of payment legislation for South Australia 08 December 2009 The Building and Construction Industry Security of Payment Bill 2009 has now been passed by the South Australian parliament, and awaits the fixing of the commencement date of The Bill by proclamation. The Bill which will begin to govern construction contracts in SA in early 2010 largely mirrors the security of payment legislation in New South Wales with some key differences.

Alert - Get ready for registration and transition 08 December 2009 On 1 December 2009, the Australian Securities and Investments Commission (ASIC) released its first package of regulatory guides to help people engaged in credit activities prepare for the national consumer credit regime. Persons who engage in credit activities can apply to ASIC to be registered from 1 April 2010 until 30 June 2010. Registered persons will then have six months to apply for an Australian Credit Licence, between 1 July 2010 and 31 December 2010.

Alert - Victorian Court of Appeal confirms approach to liquidated damages 07 December 2009 A recent Victorian Court of Appeal decision has reviewed the test applying to 'liquidated damages' clauses.  Specifically, the court has confirmed the approach to deciding whether a clause providing for payment of a monetary sum upon breach of contract is valid as a liquidated damages clause, or void as a penalty.

Alert - Personal Property Securities legisation passed 01 December 2009 On 26 November 2009 the Federal Government passed the Personal Property Securities Bill 2009 and the Personal Property Securities (Consequential Amendments) Bill 2009 (PPS Bills). Both bills are expected to commence in May 2011. The passing of the bills provides some certainty and allows business to prepare for the implementation of the PPS Act but further legislative changes are still to come, including PPS Regulations (expected in Q1/2010), consequential amendments to the Corporations Act and further amendments to the PPS Act as a result of continuing discussions between business and government on outstanding issues.

Alert - Revised consumer credit regulations released 27 November 2009 On 20 November 2009, the government released a revised suite of regulations which support the National Consumer Credit Protection Bill 2009 and related legislation. The revised package contains key changes including a new but limited licensing exemption for securitisation entities, extending the period for which credit assessments can be relied on for residential property purchases and extending the application of licensing and responsible lending obligations to pre-existing contracts.

Alert - Golden handshakes capped by legislation 25 November 2009 The new laws capping golden handshakes at one year's base pay commenced yesterday – after the Corporations Amendment (Improving Accountability on Termination Payments) Act received Royal Assent. Under the new legislation, all existing and future termination/retirement arrangements will need to be reviewed to ensure compliance.

Alert - New laws demand greater efficiency from Federal litigants 20 November 2009 New Commonwealth reforms are set to improve the justice system for all federal litigants by mandating proportionate legal expenses and alternative dispute resolution processes. The reforms will introduce a more streamlined approach, greater clarity around processes and responsibilities and will see more a active approach to case management by the Federal Court.

Alert - Property sellers face more onerous disclosure requirements in Queensland 17 November 2009 Sellers of property, and their agents, need to be aware of increasingly prescriptive disclosure requirements for the sale of property in Queensland and ensure that there is appropriate compliance.

Alert - Government announces major changes to Franchising Code of Conduct 11 November 2009 The Federal Government has responded to the Federal Inquiry's report on the operation of the Franchising Code of Conduct (Code), announcing some major changes to the Code which are aimed at strengthening Code compliance. The Government has also foreshadowed further changes to the unconscionable conduct provisions of the Trade Practices Act 1974 (Cth).

Alert - Litigation funders once again given the green light 06 November 2009 Yesterday ASIC announced that it will grant transitional relief to lawyers and litigation funders involved in class actions from the requirements under the Corporations Act 2001 (Cth) in relation to managed investment schemes. What will happen from here remains to be seen, but for the time being litigation funders have once again been given the green light.

Alert - NSW Government proposes more amendments to landholder duty and clarifies types of dutiable property 04 November 2009 On Friday 30 October 2009, the State Revenue Legislation Further Amendment Bill (No 2) 2009 (Bill) was introduced into the New South Wales Legislative Assembly. The Bill proposes further amendments to the ‘landholder duty’ provisions, as well as other provisions of the Duties Act 1997 (Duties Act).

Alert - Court of Appeal decides Jomal in favour of operator 29 October 2009 A recent decision of the Queensland Court of Appeal has ended one of the longest running and most contentious disputes about the interpretation of the Queensland Retirement Villages Act in the industry's history. The Queensland retirement villages industry will benefit from the certainty that this decision brings to this long contested issue.

Alert - Introduction of ACT Security of Payment Bill 27 October 2009 The Building and Construction Industry (Security of Payment) Bill 2009 (ACT) (SOP Bill) was introduced into the Legislative Assembly on 15 October 2009. The objective of the proposed legislation is to entitle contractors that carry out construction work (or supply related goods or services) under a construction contract, to progress payments for work performed.

Alert - Litigation funding arrangements face uncertainty 27 October 2009 The recent Full Federal Court of Australia's decision of Brookfield Multiplex Limited v International Funding Partners Pty Ltd may cause a significant impediment to future class action litigation in Australia.

Alert - New Zealand's AML/CFT Regime moves forward 27 October 2009 On 16 October 2009, New Zealand enacted the Anti-Money Laundering and Countering Financing of Terrorism Act 2009. This reform marks another significant change for businesses operating in New Zealand's financial sector.

Alert - Beware subsequent mortgagees! 27 October 2009 High Court finds that guarantors can have better rights than registered mortgagees.

Taxation of employee share schemes – legislation enters parliament 22 October 2009 The much awaited employee share scheme legislation has finally been introduced into parliament.  Companies will need to give the legislation close consideration given the impact it will have on employee equity plans, particularly the drafting of plan rules and offer documents.

Alert - Victorian's Growth Areas Infrastructure Contribution legislation released for comment 20 October 2009 After much speculation, the Victorian Government has released the draft Growth Areas Infrastructure Contribution (GAIC) legislation for public comment. The legislation will have significant ramifications for any property developers in Wyndham, Melton – Caroline Springs, Hume, Whittlesea and Casey – Cardinia. Comments on the draft Bill close 2 November 2009.

Alert - Employer denied representation in unfair dismissal proceedings 16 October 2009 On 9 October 2009, Fair Work Australia (FWA) handed down its first decision concerning legal representation in unfair dismissal proceedings. In Rogers v Hunter Valley Earthmoving Company Pty Ltd, Hunter Valley Earthmoving Company Pty Ltd (Employer) was denied access to legal representation in arbitration proceedings.

Alert - ACCC pursues franchisors for Code breaches 16 October 2009 The ACCC continues to target franchisors who fail to comply with the Franchising Code of Conduct and the Trade Practices Act (TPA).  In two recent investigations, the ACCC has obtained court enforceable undertakings from franchisors. As one of the cases highlights, a failure to comply with the Code or the TPA may result in the franchisor being forced to repay franchise fees.

Reinsurance update 15 October 2009 In this reinsurance update, we review key judgments and legislative developments in today's reinsurance market and consider how these issues are likely to impact on reinsureds and reinsurers.

Alert - New draft regulations for NSW retirement villages released for comment and consultation 08 October 2009 A public consultation draft of the Retirement Villages Regulation 2009 and Regulatory Impact Statement was released yesterday, Wednesday October 7 2009. While the new draft Regulation repeats or occasionally slightly amends a number of provisions in the Retirement Villages Regulation 2000 it also contains several new provisions, some of which will have serious financial impacts on owners and operators of retirement villages. Regulation 2009 is expected to come into effect on 23 December 2009

Alert - New laws overhaul the regulation of prescribed private funds 02 October 2009 Changes that came into effect yesterday, 1 October 2009, transform the regulation of prescribed private funds (PPFs). All existing PPFs will be renamed Private Ancillary Funds (PAFs).  They will no longer be 'prescribed' by legislation, but will be taken to be endorsed as a deductible gift recipient by the Commissioner of Taxation.

Alert - Landmark SoP decision in Victorian Supreme Court 01 October 2009 The Supreme Court of Victoria has handed down an important decision on the ability of parties to an adjudication, under the Building and Construction Industry Security of Payment Act 2002 (Vic).  In a significant departure from the other main security of payment jurisdictions of New South Wales and Queensland, The Court held, in Grocon v Planit Cocciardi Joint Venture, that the prerogative writ of certiorari may be invoked without limitation in relation to an adjudicator's determination under the Act, meaning that parties to adjudications in Victoria may seek judicial review of adjudication determinations on the basis of an error on the face of the record.

Alert - Productivity Commission releases executive remuneration discussion draft 30 September 2009 Earlier this afternoon, the Productivity Commission released its long awaited Discussion Draft about Executive Remuneration in Australia. Although the Commission recognised that excessive remuneration can reduce public confidence, it rejected calls for executive pay to be capped. However, the Commission has proposed a range of reforms to improve the existing regulatory framework in five key areas.

Alert - Welcome to the new KFS regime – margin lending disclosure 30 September 2009 The Australian Government has released draft regulations and an example PDS in relation to margin loans which prescribe specific form and content requirements for margin loan PDSs. The approach proposed for margin loans seems to signal a return to the old-style key features statement (KFS) disclosure regime where regulations prescribe specific form and content requirements for PDSs.

Alert - First look at new R&D tax credit 24 September 2009 In a consultation paper released last Friday, the Australian Government provided its first insight into a proposed simplified tax credit scheme to replace the existing R&D tax deduction regime from 1 July 2010. The overhaul, foreshadowed in the 2009-10 Budget, is aimed at strengthening Australian companies, particularly small and medium size businesses, boosting investment and supporting R&D activities to build a more innovative economy.

Alert - Government defers commencement of National Consumer Credit Protection Bill 22 September 2009 The Government has announced that it will adopt some of the recommendations of the Senate Economics Committee report into the National Consumer Credit Protection Bill 2009 including deferring the commencement of the licensing provisions and the National Credit Code until 1 July 2010.

Alert - Re Octaviar overturned 18 September 2009 The appeal in the Re Octaviar decision was handed down earlier today. The appeal was successful. The effect of this is that the legal position in respect of the creation and variations of charges (and the related requirements to lodge notifications with ASIC) appears to have returned to what it was prior to the initial Re Octaviar judgement. This may of course be subject to further appeal. We are reviewing the judgement to ascertain any further implications for the finance industry.

Alert - Government poised to cap golden handshakes 14 September 2009 Last week, the House of Representatives passed the Corporations Amendment (Improving Accountability on Termination Payments) Bill which will cap golden handshakes at one year's base salary unless shareholder approval is obtained. The Bill is currently before the Senate and could become law by the end of the week. The changes will have important consequences for many executives and directors (particularly of listed companies).

Alert - Senate Committee Report on the National Consumer Credit Protection Bill 09 September 2009 Following a three week public consultation period, the Senate Committee recently released its report on the National Consumer Credit Protection legislation. While the Committee recommends that the legislation be passed, it has put forward a series of recommendations, which (if implemented by the Government) should give industry more time to prepare for, and facilitate transition into, the national regime.

Alert - UWA v Gray - Full Court confirms ownership of IP by academic staff 07 September 2009 If universities want to ensure that they own inventions developed by academic staff in the course of their employment, they need to review their IP arrangements and take immediate steps to ensure those rights have been properly secured.

Alert - High Court appeal: section 260-5 notices not effective after liquidation 31 August 2009 In a welcome decision, the High Court of Australia has upheld an appeal by the liquidator of Bruton Holdings, overturning the previous decision by the Federal Court that even though a corporate tax payer was in liquidation, the ATO could still require a person owing money to the company to pay the debt to the ATO.

Alert - Employee share scheme tax rules – Government releases Exposure Draft 20 August 2009 As announced in July, the Australian Government has now released the Exposure Draft of the new tax legislation for employee share schemes, and is seeking comment from interested parties by Monday, 31 August 2009.

Alert - Bilateral agreement to streamline environmental assessment process 18 August 2009 The Victorian Government has entered into a bilateral agreement with the Commonwealth to achieve a more streamlined approval process under the Environment Protection and Biodiversity Conservation Act 1999.

Alert - Uncertainty remains despite changes to assistance animal legislation 04 August 2009 Business owners and people in control of public places need to be aware of the recent amendments to legislation concerning assistance animals.

Alert - Report recommends significant changes to governance of UK banks and financial institutions 28 July 2009 On 16 July 2009, HM Treasury published Sir David Walker's consultative report of his review of corporate governance in UK banks and other financial institutions. The report, which recommends significant changes to the ways boards function, follows extensive consultation with experts in London's financial sector on the effectiveness of board practices, including board engagement with institutional shareholders.

Alert - Call for submissions on review of Commonwealth EPBC Act 24 July 2009 The Independent review of the Environment Protection and Biodiversity Conservation Act 1999: interim report, released in June, highlights the major themes of the public submissions and importantly, offers an insight into the considerations of the review, and the potential policy and legislative recommendations for the EPBC Act.

Alert - ACCC takes court action against chocolate franchisor and director 20 July 2009 The Australian Competition and Consumer Commission has recently issued proceedings against a franchisor and its director for alleged breaches of the Franchising Code of Conduct and Trade Practices Act. The outcome of this case may provide further judicial clarification of what constitutes a franchise agreement for the purpose of the Franchising Code.

Alert - The Race Discrimination Ordinance is now in force in Hong Kong 15 July 2009 The Race Discrimination Ordinance (RDO) came into force on 10 July 2009 in Hong Kong. This alert summarises the provisions of the RDO and provides practical guidance for employers as to what they should be doing following the implementation of the RDO.

Alert - Franchising update 07 July 2009 The move to amend the Franchising Code has gathered momentum with the release of an options paper by the Minister for Small Business. With this renewed push also comes the development that the new unfair contract law terms is unlikely to apply to franchising.

Alert - One step closer to a national credit regime 07 July 2009 The Australian Government has made significant changes to the National Credit Reform legislation tabled in parliament on 25 June 2009. The introduction of the National Credit Reform legislation takes the Australian credit industry a step closer to national regulation of credit activities.

Alert - ‘Final’ framework for the taxation of employee share schemes? 03 July 2009 The Australian Government has released a 'Policy Statement - Final Framework for the taxation of Employee Share Schemes'.  This is the Government's stated final position, and the new legislation is expected to be introduced in the spring session of parliament. Overall, these new tax rules should enable suitably drafted employee shares and rights schemes to continue to provide employees with a performance-based incentive. Existing plans will need appropriate modification to accommodate the changes. As with all legislation, the devil will be in the detail and we will be critically reviewing the draft legislation when it becomes available.

Alert - NSW planning reforms take effect 02 July 2009 On 1 July 2009, certain provisions of the Environmental Planning and Assessment Amendment Act 2008 (EP&A Amendment Act) and EP&A Amendment (Plan Making) Regulation 2009 commenced, including the operation of the Joint Regional Planning Panels (JRPPs). The reforms also introduce new requirements and procedures for preparing local environment plans (LEPs) and state environmental planning policies (SEPPs).

Alert - Recovery of land tax for landlords in Queensland 24 June 2009 Changes to Queensland's land tax laws will allow landlords of commercial and industrial properties, and in certain cases retail landlords, to recover land tax from their tenants under leases entered into on or after 30 June 2009.

Alert - Jail terms for serious cartel conduct 17 June 2009 Individuals who are found guilty of serious cartel conduct could face jail terms of up to 10 years under the Trade Practices Amendment (Cartel Conduct and Other Measures) Bill 2008, just passed by Parliament.

Alert - Queensland budget measures to encourage economic recovery 16 June 2009 The Queensland Government has handed down the 2009/10 budget which shows the impact the deteriorating global financial crisis is having on the State's economy. The budget forecasts a reduction in revenue by $15 billion over the next four years. To help stimulate the local economy, the Government has committed $18.2 billion to a major capital works program which is expected to generate 127,000 full-time jobs.

Alert - Retail landlords to exercise caution 10 June 2009 Retail landlords should exercise caution when negotiating rent review terms following a recent decision handed down by the Queensland Court of Appeal.

Alert - Round two for tax changes to employee share schemes 10 June 2009 On Friday, the Australian Government released its policy options paper containing alternative reforms to the tax treatment of employee shares and option rights. Submissions on the proposed taxation framework must be made before Friday, 12 June 2009. Companies need to be aware that the new tax rules will apply to shares and rights acquired from 1 July 2009.

Alert - Franchise agreements likely to be caught by national unfair terms law 28 May 2009 Franchise agreements could be captured under the Government's draft national unfair contract terms.  The Government aims to create a single legislative scheme to deal with types of terms that may be considered unfair in a standard contract, but until the it clarifies whether franchise agreements will be exempt from the new law, franchisors should review their existing franchise agreements to identify any clauses which may potentially be in breach.

Alert - Forward Start Facilities – a white knight for borrowers in uncertain debt markets 21 May 2009 With banks under increased pressure to reduce lending and conserve capital, liquidity levels in the corporate lending market are at an all time low. Many borrowers, even those with strong operational and financial history, face uncertainty as to whether they will be able to repay or refinance their existing debt at maturity if the global credit crisis continues. In recent months, the European markets have found a solution to the issue which is starting to appear in Australia: Forward Start Facilities (F-S Facility).

Alert - 'Reverse-charge mechanism' replaces GST-free treatment of going concern and farm sales in 2009 Budget 20 May 2009 As part of the Budget, Treasury has issued a discussion paper proposing a number of changes to the operation of the GST regime.  Critically, from 1 July 2010, Treasury proposes to replace the 'GST-free' treatment of going concerns and farm sales with a 'reverse charge' mechanism where, instead of the sale being treated as GST-free, the purchaser agrees to pay the GST on behalf of the vendor. The net effect will be similar to the current treatment in that where a purchaser is in a fully creditable position, no net payment to the ATO will be required. However, the new rules could have an adverse impact on the stamp duty savings and the margin scheme provisions that currently apply to properties acquired as going concerns.

Alert - New unfair contract laws: Does your business use standard form contracts? 18 May 2009 Earlier this year Chris Bowen, the Minister for Competition Policy and Consumer Affairs announced the introduction of wide ranging reforms to Australia's consumer law, some of which are planned to be introduced in June 2009 and to come into force on 1 January 2010. On 11 May 2009 the Commonwealth Government released a discussion paper entitled An Australian Consumer Law: Consultation on draft provisions on unfair contract terms, which includes draft legislation to introduce the unfair contracts laws. Interested parties only have until 22 May 2009 to comment on the draft legislation and the impacts on their businesses. The changes will require any business which uses standard form contracts to supply or acquire goods or services to review their existing arrangements or risk enforcement action by the Australian Competition and Consumer Commission (ACCC). Significantly, in contrast to similar laws in the United Kingdom, these new laws will apply to standard form contracts imposed by acquirers of goods.

Alert - Executive Remuneration Budget 2009 Major Changes to the Taxation of Employee Shares and Options 13 May 2009 Major changes have been announced to the tax treatment of employee shares and rights (options, performance rights and the like). These changes represent a fundamental shift in the law and will impact the tax effectiveness of many equity incentive plans. They are stated to have effect from last night's Budget announcement, although it remains to be seen whether they will pass through Parliament, especially as the Government does not control the Senate. The amendments will also put Australia considerably out of step with the rest of the world, a fact which will no doubt be raised as the draft legislation is debated. Employers and their remuneration committees will now need to re-assess their current incentive arrangements and start considering alternative strategies for rewarding key employees.

Alert - China Outbound/Australia Inbound Investment 12 May 2009 Outbound mining investment from China is growing substantially and as a consequence, the Chinese Ministry of Commerce (MOFCOM) has simplified the outbound energy and mining investment approval procedures for the People’s Republic of China (PRC) companies.

Alert - Second discussion paper released on proposed 'creeping acquisition' laws 08 May 2009 The Assistant Treasurer and Minister for Competition Policy & Consumer Affairs, Chris Bowen MP, yesterday released a second discussion paper exploring options and seeking public comment on the proposed introduction of a prohibition against 'creeping acquisitions' under the Trade Practices Act. Submissions are due by Friday 12 June 2009 and will be publicly available on the Treasury website unless confidentiality is otherwise requested.

Alert - Get ready to ride the financial services modernisation wave 07 May 2009 On 7 May 2009, the Australian Government released an exposure draft of the Corporations Legislation Amendment (Financial Services Modernisation) Bill 2009 (Cth) and exposure draft regulations.  The new requirements under the Bill mean that margin lenders and advisers and trustee companies will have extensive compliance responsibilities under AFSL regime, which includes conduct, disclosure, advice and dispute resolution obligations.  The Government has not given any indication about when the new provisions will commence, although it is understood that the proposed commencement date of 1 July 2009 may be delayed.

Alert - Changes to emissions trading - what you should be doing now 07 May 2009 On 4 May 2009 the Commonwealth Government announced some key changes to its proposed Carbon Pollution Reduction Scheme (CPRS), including a one year delay to the start date – from 1 July 2010 to 1 July 2011. In spite of the delayed start and other changes, there are a number of things businesses should be doing now to prepare for the regulation of climate change issues, such as compliance with National Greenhouse and Energy Reporting Scheme (NGERS). This alert summarises the key changes to the proposed CPRS and outlines some issues to consider in preparing your business to tackle climate change issues.

Alert - Senate Report of Personal Property Securities Legislation  06 May 2009 A Senate Standing Committee has called for a major rewrite of the proposed Personal Property Securities legislation to achieve greater simplicity in regulating security interests in personal property.

Alert - Executive remuneration - draft legislation released capping golden handshakes 05 May 2009 This morning, the Federal Government released draft legislation and regulations to implement its 18 March 2009 announcement that golden handshakes will be capped at one year's base salary. The changes are potentially very significant.  Assuming the changes are made in the form proposed, they will mean that: a broader category of executives and former executives will be caught by the provisions shareholder approval will be required for most retirement benefits above one year's base salary (currently, the cap is up to seven years' remuneration) more restrictive shareholder approval requirements will apply breaches may result in fines of up to $99,000 for companies and $19,800 for individuals (who can also be liable to up to six months imprisonment). benefits given in breach must be immediately repaid (and can be recovered as a debt)

Alert - Swine Flu - How to manage workplace obligations during an outbreak 04 May 2009 The recent outbreak of the Swine Flu (also called 'pig flu') in Mexico and in other parts of the world has caused serious concerns throughout the United States, Europe and Asia.  The first Swine Flu case has been reported and confirmed in Hong Kong.

Alert - Release of National Consumer Credit Protection Bill 2009 (updated) 01 May 2009 The Australian Government released the National Consumer Credit Reform Package on 27 April 2009. The Credit Reform Package implements COAG's approach by proposing new compliance obligations for businesses that engage in credit activities. It also proposes to expand consumer protection through the introduction of a civil penalty regime, new consumer remedies framework and enhanced ASIC powers of enforcement, including an infringement notice power. The new requirements under the Credit Reform Package mean that most lenders and credit brokers will face extensive compliance responsibilities.

Alert - Unacceptable lock-up by means of reverse takeover 01 May 2009 On 25 March 2009, the Takeovers Panel (Panel) published the reasons for its decision that the merger of Gloucester Coal Limited and Whitehaven Coal Limited by way of a 'reverse takeover' (Merger) gave rise to unacceptable circumstances. This is an important decision as it is the first time the Panel has had to decide on whether a bidder under a takeover or scheme is able to lock itself into a merger and thereby prevent a third party from acquiring the bidder on a stand‑alone basis.

Alert - New SA Architectural obligations and requirements 27 April 2009 The New Act was assented to on 16 April 2009. The date on which the Act will come into operation is to be fixed by proclamation (section 2 of the New Act). However, The Governor of South Australia has not issued such proclamation as at 27 April 2009.

Alert - IceTV succeeds in High Court battle against Nine Network 24 April 2009 The Nine Network has lost a High Court battle to protect its television programming guide in the decision of IceTV Pty Ltd v Nine Network Australia Pty Ltd [2009] HCA 14 handed down on Wednesday 22 April. The decision ends a three-year fight between digital media company IceTV and the Nine Network which claimed the company had breached its copyright by compiling an electronic program guide.

Alert - Rights of access by shareholders to D&O insurance policies 17 April 2009 The recent Federal Court decision in Merim Pty Ltd v Style Limited [2009] FCA 414 (Style Case) expands the circumstances in which a company can be compelled to produce insurance documents for inspection by a shareholder considering bringing legal proceedings against that company and its directors.  It is the first Australian case in which orders have been made under section 247A of the Corporations Act 2001 (Cth) (the Act), for the inspection of D&O insurance policies held by a company.

Alert - Modification of registered scheme constitutions 08 April 2009 On Friday, 3 April 2009, the New South Wales Supreme Court handed down a decision in the case of ING Funds Management Ltd v ANZ Nominees Ltd; ING Funds Management Ltd v Professional Associations Superannuation Ltd [2009] NSWSC 243. In this case the Court has set out a framework of detailed procedural steps to be followed in amending registered scheme constitutions on a non adverse basis.  Responsible entities should take this guidance into account in any constitutional amendment.

Alert - New NSW mortgagee obligations and requirements 06 April 2009 The proposed changes to NSW real property legislation will impact on the obligations of lenders and mortgagees taking out real property mortgages. NSW lenders and mortgagees need to understand their obligations, undertake due diligence on mortgagors when taking or transferring mortgages and make sure records are kept.

Alert - Fels provides insights into executive remuneration reforms 01 April 2009 Executive remuneration has been dominating the headlines recently here and overseas.  Locally, the Federal Government has announced its intentions to reform executive remuneration.  Much about the proposed reforms remains uncertain but the following table provides an 'at a glance' snapshot of the current position, including the scope of the inquiries and the current expected timeframes.  We also provide added insights from Professor Allan Fels AO who heads the Productivity Commission's review into executive remuneration and spoke at a Minter Ellison Financial Services Industry Group meeting earlier today.

Alert - Australian dumping and countervail practice goes under productivity microscope 24 March 2009 The convergence of competition policy and trade policy in Australia moved a little closer today as the Australian Assistant Treasurer and Minister for Competition & Consumer Affairs, Hon Chris Bowen MP, released terms of reference for a Productivity Commission inquiry into Australia's anti-dumping system. The reference to the Commission gives effect to a July 2008 decision by the Council of Australian Governments to examine anti-dumping as a priority area for competition reform

Alert - Are you as secured as you thought? 20 March 2009 A Supreme Court decision calls into question current market practice concerning variations to transactions secured by registrable charges other than 'all moneys' charges. The decision may have far-reaching impacts on exposures for existing charges and procedures when taking new charges and varying secured transactions.

Alert - Potential Refund of Insurance Duty 16 March 2009 An opportunity has arisen for insured parties to potentially claim a refund for New South Wales insurance duty effected prior to 20 June 2006 in respect of general insurance provided by insurers, such as off-shore insurers, not registered or authorised as general insurers under the Insurance Act.

Alert - Executive remuneration: surviving the global financial crisis 12 March 2009 Last year, the G20 leaders at the Washington summit highlighted the need to better align employee incentives to discourage perceived risk-taking. In recent weeks, the new US administration has taken steps to cap the remuneration of executives of troubled financial institutions. On the local front, the Australian Institute of Company Directors has issued new guidelines for boards dealing with executive remuneration, recognition that the global financial crisis has increased the focus on all aspects of remuneration arrangements. There have been widespread calls in Australia and abroad for tighter regulation of executive remuneration, particularly in the financial services industry, with APRA due to release its discussion paper on the issue in the second quarter of 2009.

Alert - High Court confirms damages award on unauthorised alterations to leased premises 11 March 2009 The High Court recently delivered its decision in Tabcorp Holdings Ltd v Bowen Investments Pty Ltd and confirmed an award of damages of $1.38 million for breach of a covenant not to alter premises without the landlord's consent.  This sum represented the cost (at 2004/2006 prices) of returning the foyer of the premises to its original state.  The lease did not expire until 2012 or 2017.  The High Court considered the possibility of a 'betterment discount' to the damages award (but did not apply one, as the tenant did not seek to have such a discount applied). The tenant argued that the measure of damages should be the reduction in the value of the premises by reason of the new foyer (versus the old).  This was not accepted, although such analysis may apply in 'fairly exceptional circumstances' where the rectification works are unreasonable.

Alert - Treasury releases Short Selling Disclosure Regime consultation paper 10 March 2009 On 6 March 2009, the Treasury released a 'Short Selling Disclosure Regime' consultation paper (Consultation Paper) seeking feedback from stakeholders on the content of the short selling disclosure regulations – which outlines the detailed aspects of the disclosure regime.

Alert - Latest green building developments in Hong Kong 06 March 2009 The term 'climate change' is now common parlance, but what role does green building play within the broader climate change picture? Well, emissions regulations post Kyoto are imminent and buildings are able to offer cost effective emissions cuts – there is therefore a possibility that the building sector may eventually be hit with emissions caps.

Alert - ASIC extends ban on short selling 05 March 2009 ASIC today announced that it would extend the ban on covered short selling of financial securities beyond its 6 March 2009 expiry date to 31 May 2009.

Alert - Draft investment allowance bill leaves lessees in the cold 04 March 2009 When the Government released the Tax Laws Amendment (Small Business and General Business Tax Break) Bill 2009 on 25 February, equipment and finance lessors had hoped it would clarify whether the investment allowance could be passed on to lessees and whether it would apply to sale and leaseback transactions.  Unfortunately, the Bill does not extend to sale and leaseback arrangements nor does it contain specific provisions to allow lessors to pass the capital allowance benefit to lessees.

Alert - Retirement village leases excluded from the Duties Amendment Bill 2008 27 February 2009 The Duties Amendment Bill 2008 (Bill) has been amended to exclude the granting, transfer, assignment or surrender of retirement village leases. The Bill was introduced into the Victorian Legislative Assembly on 2 December 2008 and is intended to apply retrospectively to 21 November 2008.

Alert - Amendment of Administrative Decisions Tribunal Act 1997 (NSW) 24 February 2009 The Administrative Decisions Tribunal Amendment Act 2008 has given effect to legislative changes recommended after a recent statutory review of the Administrative Decisions Tribunal Act 1997 (NSW), and has also made other amendments to enhance the operational efficiency of the Tribunal itself.

Alert - Standstill restrictions: will the Panel release them? 17 February 2009 The Takeovers Panel, in the International All Sports Limited proceedings, declined to make a declaration and orders which would have the effect of releasing Centrebet International Limited (Centrebet) from its standstill undertakings to International All Sports Limited (IAS).

Alert - Federal Government announces retrospective amendments to GST law 10 February 2009 The Federal Government has announced its decision to amend the GST law to ensure that liquidators/receivers/administrators are personally liable for GST following appointment.

Alert - New Ombudsman's report holds promise of real reform to NSW FOI regime 06 February 2009 A special report from the NSW Ombudsman on reforming the state's freedom of information regime has received bipartisan support, which is an encouraging sign that the much needed overhaul may happen sooner rather than later. The report, Opening Up Government, proposes a raft of reforms that, if adopted, promise to benefit the public and government agencies alike.

Alert - Proposed increase in business investment allowance for small business 06 February 2009 On 3 February 2009, Prime Minister Kevin Rudd announced an economic stimulus package totalling $42 billion in new spending. One element of this proposed package is a temporary increase for small businesses in the business investment allowance, up to 30% from the previously announced 10% for all businesses.

Alert - Draft Retirement Villages regulations amending the adjusted maintenance charge 04 February 2009 Proposed new Victorian regulations for retirement villages will change the way the adjusted maintenance charge is determined, effective on and from 26 May 2009, so that the adjusted maintenance charge is altered annually rather than quarterly. However, there are additional ramifications, including the way in which the new formula will operate, and  issues surrounding the transition period. In particular, where the current maintenance charge is less than the adjusted maintenance charge, owners/operators may lose the ability to 'catch-up' to the adjusted maintenance charge.

Alert - Commissioner Jumps the Queue – section 260-5 notices still effective after liquidation 04 February 2009 The Deputy Commissioner of Taxation has for many years been able to issue a notice to someone that owes money to a tax payer requiring them to pay the debt to the ATO. In Commissioner of Taxation v Bruton Holdings (in liquidation) the Full Court of the Federal Court of Australia overturned an earlier decision of Allsop J, and held it still valid. The Commissioner can issue a notice and effectively enter into possession of the debtors, provided any secured creditor has not already fixed their charge over them. While this has been the position in bankruptcy, for corporations the commercial implications are very serious.

Alert - Commercial property sector to receive $4 billion to protect and promote development projects 30 January 2009 The Federal Government has established a $4 billion liquidity fund to provide financial support for the beleaguered commercial property sector, which has been adversely affected by the global financial crisis.

Alert - Federal Court orders interim injunctions regarding franchisor's stock allocation to franchisees 30 January 2009 A recent Federal Court decision provides a timely reminder to franchisors that the ACCC will move swiftly if it believes that a franchisor is trying to use its power to allocate stock to franchisees as a way of improperly applying pressure to franchisees.

Alert - Climate change adaptation grants - Green Building Fund (Stream A) 28 January 2009 Late last year the Federal Government announced several grant schemes through AusIndustry as part of its Clean Business Australia initiative. The Green Building Fund is one of these.  It is designed to reduce the greenhouse gas emissions of the built environment by reducing energy consumed in the operation of commercial office buildings.

Alert - Climate Change adaptation grants – are you eligible? 23 January 2009 If your annual turnover is less than A$100 million, then you may be able to take advantage of the Federal Government's Clean Business Australia initiative to encourage and assist business adapt for climate change. The Government's recently-announced investment allowance may also assist companies with the cost of adapting to climate change. The investment allowance is available to any company irrespective of their annual turnover.

Alert - ASIC extends ban on covered short selling of financial securities until March 21 January 2009 Yesterday, 21 January 2009, ASIC unexpectedly announced it was extending the ban on covered short selling of financial securities - due to expire on 27 January 2009 - until 6 March 2009.

Alert - Proposed energy efficiency disclosure scheme for commercial buildings 15 January 2009 A proposed Commonwealth Government scheme will require mandatory disclosure of energy efficiency ratings for commercial buildings, with a net lettable area of 2000 m2 or greater, from 2010. The scheme is meant to encourage developers to implement energy efficient technologies in commercial office buildings and provide prospective buyers and tenants with information to assist their decision making.

Alert - Full Federal Court clarifies approach to 'was/now' (or 'dual ticket') pricing 12 January 2009 The Full Federal Court of Australia has upheld a ruling that 'comparative pricing' (also known as 'was/now' or 'dual ticket' pricing) by Prouds Jewellers was misleading and in breach of the Trade Practices Act 1974. In doing so, it has provided helpful guidance that comparative pricing will not be misleading or deceptive where goods have been genuinely offered at the higher 'was' price for a reasonable period immediately prior to the sale, regardless of actual sales at that price.

Alert - Short selling developments in the first week of 2009 09 January 2009 On 5 January 2009, the UK Financial Services Authority (FSA) announced that the ban on short selling of shares in UK financial sector companies would expire on 16 January 2009, but could be reinstated without consultation if necessary. The FSA's move reflects that of its US counterpart, the Securities and Exchange Commission, which lifted its short selling ban in October 2008.

Alert - Changes to Foreign Investment Policy 22 December 2008 The Assistant Treasurer released details of changes to the Government’s foreign investment screening regime for acquisitions of real estate by foreign persons. The changes are focussed on residential real estate, but have important ramifications for resorts and hotels and developers of new dwellings.

Alert - Insolvency Regimes and Corporate Tenants 19 December 2008 The current economic climate poses many new challenges for landlords of corporate tenants. In light of the imminent threat of recession, companies are succumbing to the pressures of creditors. The repercussions of excessive debt and the number of companies entering into receivership, administration and liquidation are increasing.

Alert - Final draft of the Priority Modern Awards released 19 December 2008 The Australian Industrial Relations Commission (AIRC) today released the final draft of the Priority Modern Awards. The award modernisation process was initiated by a request signed by the Minister for Employment and Workplace Relations on 28 March 2008 pursuant to s.576C(1) of the Workplace Relations Act 1996. The Minister's request was made with the aim of reducing the number of awards in the workplace relations system and minimising the number of multiple awards which might apply to an individual employee or employer.

Alert - Court rejects Commissioners priority for GST on sale of property by liquidator 18 December 2008 The Federal Court handed down a judgment in DCT v PM Developments Pty Ltd on Friday, ruling that a liquidator of a company is not personally liable for GST or any related GIC payable on the sale of a real property by the company. This decision runs counter to the Commissioner's established practice dealing with GST on insolvencies, where the Commissioner treated the liquidator / receivers as personally liable for the GST payable on supplies made after their appointment (which approach gave the Commissioner priority to GST on sales made by liquidators and receivers following their appointment).

Alert - Release of Carbon Pollution Reduction Scheme White Paper and Proposed Targets 16 December 2008 Yesterday, Prime Minister Kevin Rudd released the Australian Government's White Paper outlining the proposed approach to the Carbon Pollution Reduction Scheme (CPRS) that is scheduled to commence on 1 July 2010.

Alert - PM announces tax concessions 12 December 2008 In efforts to tackle the global financial crisis, the Prime Minister today has announced a $4.7 billion nation building package to help strengthen the Australian economy and create an additional 32,000 jobs. The economic stimulus package details the Commonwealth's proposed funding of critical infrastructure projects, and two new tax concessions to assist business during the economic downturn.

Alert - Court of Appeal delivers decision on the Hong Kong Disability Discrimination Ordinance 12 December 2008 The recent Hong Kong Court of Appeal (CA) decision in M v Secretary for Justice (CACV 265/2007, 10 November 2008) clearly demonstrates how the provisions of the Disability Discrimination Ordinance (DDO) are applied in practice. Importantly, the decision highlights that it is not essential to prove that an alleged discriminator, such as an employer, had knowledge of the complainant's disability.

Alert - Queensland Budget 2008-2009: A review 11 December 2008 The Queensland Treasurer has recently released the Major Economic Statement 2008-09, which incorporates the Mid Year Fiscal and Economic Review. The Statement notes, with the deepening global financial crisis, a number of key risks identified in the State 2008-09 Budget have now eventuated.

Alert - Federal Government delivers its Report into the Franchising Code of Conduct 02 December 2008 The Federal Government has released its much anticipated report following the inquiry into the operation of the Franchising Code of Conduct. The report contains some significant recommendations including imposing pecuniary penalties for breaches of the Code.

Alert - ACCC releases final version of revised merger guidelines 26 November 2008 The Australian Competition and Consumer Commission (ACCC) has released a final version of its revised merger guidelines. The greatest practical change for merger parties under the revised guidelines is the simplification of the ‘notification’ thresholds applied by the ACCC.

Alert - Australian government guarantee of deposits and wholesale funding 26 November 2008 The Australian Government recently announced a guarantee of the deposits and wholesale funding of authorised deposit-taking institutions (ADIs). The guarantee scheme was originally proposed as an unlimited guarantee of all deposits. However, following much political discussion and market dislocation, the terms of the guarantee now depend on the nature of the instrument, the nature of the ADI, and the amount or tenor of the investment.

Alert - Implications of the criminalisation of cartels for franchises and dealers 21 November 2008 The Federal government has released its 'final' exposure draft of the Trade Practices Amendment (Cartel Conduct and Other Measures) Bill 2008 to criminalise cartel conduct. While much of the commentary surrounding the Bill has focused on the serious penalties (including imprisonment) being imposed, if enacted the Bill will also have significant impact on the way in which franchisors and dealerships conduct their business.

Alert - Government passes Bill to govern component pricing under the TPA 18 November 2008 The Federal Government passed an amendment to the Trade Practices Act on 12 November 2008 to 'tackle the problem of hidden fees and charges' and 'give clarity and certainty' to buyers. Under the amendment, a business that makes a price representation where the price is less than what the person will actually have to pay to acquire the goods or services, must also prominently state the total price payable. What will this change mean for consumers and business?

Alert - ASIC confirms lifting of ban on covered short sales of non-financial stocks 14 November 2008 ASIC confirms its position in relation to short selling transactions from 19 November 2008.

Alert - ASIC outlines key features of new disclosure and reporting regime for short sales 13 November 2008 ASIC has announced the key features of the new disclosure and reporting requirements for short sales, which will apply from 19 November 2008. Brokers have just six days to notify existing clients of the new arrangements and update their procedures for new clients.

Alert - Personal liability…limited! 06 November 2008 A recent order by the Supreme Court of WA acts as a timely reminder of the breadth of power conferred on the Court by section 447A of the Corporations Act 2001 (Cth) (Act), and the flexibility that the provision can provide in the conduct of any administration.

Alert - Decision time in Bell Group Ltd saga 31 October 2008 After a legal battle which has spanned 13 years, the Bell decision has finally been handed down. This case, which is now recognised as the longest running civil trial in Australia has extended over 404 hearing days and has been heard on two continents.  A case such as this is expected to set important precedents on the powers of financiers to take assets in troubled companies and is a reminder to financiers of the dangers of giving security over companies which could be on the brink of financial ruin.

Alert - Are you going directly to jail? What you need to know about the Government's bill to criminalise cartel conduct 30 October 2008 The Australian Government's bill to criminalise cartel conduct does more than impose a maximum 10 year term of imprisonment for cartel conduct. It significantly expands and arguably distorts the existing framework regulating anti competitive conduct. Businesses which consider themselves currently compliant with the TPA may find the bill creates room for doubt.

Alert - ASIC announces disclosure and reporting requirements for covered short sales effective 19 November 2008 29 October 2008 Yesterday, ASIC announced the disclosure and reporting arrangements for covered short sales which will apply once the ban on covered short sales of non-financial securities is lifted on 19 November 2008. The new arrangements are intended to provide additional transparency, and assist with the detection of market manipulation and other instances of non-compliance.

Alert - Building confidence in the financial sector: The Federal Government guarantees insurance claims 28 October 2008 The Federal Government is seeking to build confidence in the financial sector with the announcement that it will guarantee Australian bank deposits and the payment of certain insurance claims. While recent media attention has focussed on the guarantee of  bank deposits, the guarantee of  certain insurance claims is just as significant. The Financial System Legislation Amendment (Financial Claims Scheme and Other Measures) Act 2008 (Cth), which received Royal Assent on 17 October 2008, enables the establishment of a Financial Claims Scheme upon the failure of an authorised general insurer.  It also updates the judicial management provision in the Life Insurance Act 1995 (Cth).

Alert - Australia's right to tax capital gains under pre-CGT treaties 27 October 2008 In Virgin Holdings SA v Commissioner of Taxation, the Federal Court held that the Commissioner of Taxation (the Commissioner) was denied the right to tax a capital gain under the Swiss/ Australia Double Tax Agreement (Swiss DTA).

Alert - ASIC extends ban on covered short sales 21 October 2008 ASIC has extended the  ban on covered short selling for non-financial securities 28 days. An  announcement on disclosure and reporting arrangements that once the ban is  lifted is expected later this week. The ban on short selling of financial  securities will continue until 27 January 2009.

Alert - What do the new Commonwealth Procurement Guidelines mean for agencies? 17 October 2008 The Minister for Finance and Deregulation has issued new Commonwealth Procurement Guidelines (CPGs) to apply to procurement processes commencing on or after 1 December 2008. The new CPGs continue to focus on achieving value for money in procurement and, whilst the general requirements are largely the same as the previous version, there are a number of changes and refinements. The new CPGs implement some changes which agencies should consider in advance of the start date.

Alert - Creating sustainable and liveable communities in Melbourne's growth areas 16 October 2008 As part of the Victorian Government's wider commitment to creating sustainable and liveable communities, the Minister for Planning, Mr Justin Madden, recently released draft Precinct Structure Planning Guidelines for public comment.

Alert - AML Update – Reporting obligations, disclosure certificates and corporate treasury 16 October 2008 There have been some significant developments for the Australian anti-money laundering regime in September: the Government introduced the Financial Transactions Reports (Transitional Arrangements) Bill 2008 (Transition Bill) to Parliament relating to transitional arrangements for the reporting requirements due to commence on 12 December 2008 AUSTRAC also released guidance on complying with these obligations in the form of its Reporting Implementation Policy and Public Legal Interpretation No. 6 which deals with suspicious matter reporting AUSTRAC published draft rules relating to disclosure certificates and corporate treasury activities.

Alert - Submissions received in Federal Government Inquiry into the Franchising Industry 15 October 2008 In July 2008 we reported that the Parliamentary Joint Committee on Corporations and Financial Services had announced a Federal Inquiry into the operation of the Franchising Code of Conduct and the ways in which it may be improved. The Committee received approximately 140 submissions from a variety of stakeholders. A review of those submissions, which are available to the public (some are confidential), reveals strong calls for additional amendments to the Code, especially in relation to disclosure and some other significant changes to the regulation of the franchising industry.

Alert - Discussion paper released to review Victoria's retail industry 14 October 2008 Victoria's Minister for Planning, Justin Madden, has released a discussion paper to examine ways on how to make regulatory and policy frameworks clearer and more efficient for retail development and the wider retail industry.

Alert - NSW Supreme Court delivers landmark decision over 'smoke-free areas' 14 October 2008 Hotel and club owners may need to redesign or reconfigure certain areas of their premises after the NSW Supreme Court ruled a roofed area that adjoined an unroofed area constituted an 'enclosed public place', under the State's new smoke-free laws.

Alert - Towards a national regime for the credit industry 13 October 2008 Following the release of the Green Paper on Financial Services and Credit Reform – Improving, Simplifying and Standardising Financial Services and Credit Regulation (released on 3 June 2008) (Paper) and a four week consultation period, the Council of Australian Governments (COAG) decided that the Australian Government would assume responsibility for the regulation of all credit products, which includes mortgages, mortgage broking, margin lending and all remaining areas of consumer credit, such as pay-day lending and financial counselling services.

Alert - Margin Scheme Amendment Bill 03 October 2008 Last week, the Tax Laws Amendment (2008 Measures No.5) Bill 2008 was introduced into parliament, making good on the Government's promise to restrict the application of the margin scheme on property sales that were previously acquired as a GST-free supply of a going concern or farmland.

Alert - Shipping News 30 September 2008 This brief update on recent developments and items of interest in the shipping world includes: Extension of Australia's exclusive economic zone New Bill affects registrations of finance interests in ships Refund guarantees for financing shipbuilding in China

Alert - Draft Short Selling Bill released 26 September 2008 On 23 September 2008, Treasury released an exposure draft on the Australian Government's Corporations Amendment (Short Selling) Bill 2008 (Bill) which requires the disclosure of covered short sales transactions on Australian financial markets. Submissions on the Bill must be made to Treasury by 21 October 2008.

Alert - ASIC clarifies its prohibition on short selling 25 September 2008 On 23 September 2008, the Australian Securities and Investments Commission (ASIC) provided further clarification on its prohibition on short selling.

Alert - High Court rules on Pilbara rail access 25 September 2008 The High Court has handed down its decision in the case of BHP Billiton Iron Ore Pty Ltd v NCC. The Court had to decide whether two railway lines operated by BHP Billiton in the Pilbara region of Western Australia could be declared under Part IIIA of the Trade Practices Act 1974 (TPA).

Alert - Changes to ACT's Unit Titles Act impacts developers and body corporate managers 25 September 2008 Unit title developers, owners and body corporate managers in the ACT face new compliance obligations following recent changes to the territory's Unit Titles Act. The amending legislation, which was passed by the Legislative Assembly on 26 August, intends to address a number of issues in relation to the purchase of home units as well as provide further protection for consumers.

Alert - New EU financial market reforms 25 September 2008 On 23 September 2008 the European Parliament called for strict new EU rules governing high-risk private equity and hedge fund activity, even though top regulators in the EU had said there were no plans to push forward extra legislation. These latest reforms follow announcements made last week that regulators throughout Europe have begun taking action to restrict short selling.

Alert - ASIC bans short selling 22 September 2008 The Australian Securities and Investment Commission joined its US and European counterparts in announcing new measures in relation to short selling in an effort to restore investor confidence and maintain the fair and orderly operation of the market.  The new measures apply from the opening of the market today, Monday 22 September 2008.

Alert - SEC and FSA announce new laws in relation to short selling 19 September 2008 The Financial Services Authority  and Securities Exchange Commission have taken strong action to curtail abusive short selling, in an effort to stabilise the financial markets.

Alert – Court approves schemes for take private of Macquarie Capital Alliance Group 05 September 2008 Macquarie Capital  Alliance Group (MCAG) has received Court approval for its schemes of  arrangement and trust scheme, under which a consortium managed by another  Macquarie Group entity and led by secondary market private equity investors  will acquire all the stapled securities in MCAG (which is listed on the  Australian Securities Exchange).

Alert - Tax consequences for a company of issuing shares for assets or for services 05 September 2008 The ATO has confirmed in TR 2008/5 (released on 27 August 2008) that a company issuing shares in itself has not incurred a loss, outgoing or expenditure. Accordingly, a company cannot claim a deduction for the value of shares issued where the relevant deduction provision in the Tax Act requires that the company must have incurred a loss, outgoing or expenditure.

Alert - Exclusions to Retail Leases Act provide flexibility for local councils 02 September 2008 A new determination by the Victorian Minister for Small Business dated 22 July 2008, which excludes a new class of premises from the application of the Retail Leases Act 2003 (Vic), will provide local councils with far greater flexibility when dealing with community and not-for-profit organisations.

Alert - Submissions called for proposed 'creeping acquisition' laws 01 September 2008 The Assistant Treasurer and Minister for Competition Policy & Consumer Affairs, Chris Bowen MP, today released a discussion paper seeking public comment on the Government's proposal to introduce a specific prohibition against 'creeping acquisitions' under the Trade Practices Act.  The discussion paper proposes two possible models for regulating creeping acquisitions, an Aggregation model and a Substantial Market Power model and is likely to attract considerable debate on the merits of specific laws to regulate creeping acquisitions.

Alert - Reminder: Asbestos Laws to apply from 1 September 2008 29 August 2008 This is a reminder that from 1 September 2008, Part 3.4 of the Dangerous Substances (General Regulations 2004) will apply to entities who control or manage multi-storey commercial premises (being commercial premises of two or more stories) in the Australian Capital Territory built before 31 December 2003.

Alert - New Safety and Health fee for Queensland Mining and Quarrying Industry 29 August 2008 On 26 August 2008 the Queensland Government passed the Mining and Other Legislation (Safety and Health Fee) Amendment Bill 2008 (the Bill). The Bill amends the Coal Mining Safety and Health Act 1999, the Mining and Quarrying Safety and Health Act 1999 and the Explosives Act 1999 granting a regulation-making power to the Department of Mines and Energy for a safety and health fee to be levied on mining, quarrying and explosives operations.

Alert - Portable Long Service Leave levy increase 29 August 2008 The Portable Long Service Leave levy will increase from 0.125 percent to 0.2 percent effective from 1 September 2008.  This is as a result of amendment to the Building and Construction Industry (Portable Long Service Leave) Regulation 2002. The levy is designed to ensure that long-term workers in the building and construction industry will be entitled to long service leave. Upon completing 10 years' worth of service on the register, the worker is eligible to apply for a period of long service leave.

Alert - Success for franchisor: High Court overturns decision in Ketchell 28 August 2008 In a highly significant decision for the franchising industry, the High Court yesterday found in favour of the franchisor in Ketchell v Master Education Services Pty Limited. This decision confirms that a breach of the Franchising Code of Conduct does not automatically render a franchise agreement void and unenforceable.

Alert - High Court rejects waiver of privilege claim 20 August 2008 Waiver of legal professional privilege is of particular relevance to in-house counsel but has been, and continues to be, a vexed area of the law. It was hoped that some aspects would be clarified by the High Court in the Osland appeal. Last week the High Court delivered its judgment in Osland v Secretary to the Department of Justice [2008] HCA 37, and confirmed the Court of Appeal's decision. While the judgment clarifies some aspects of waiver of privilege, it also confirms that there is no bright line dividing what does and does not amount to waiver of legal professional privilege.

Alert - ACCC finally succeeds against Baxter Healthcare in Full Court of Federal Court appeal 15 August 2008 Following an epic court battle, the Australian Competition and Consumer Commission (ACCC) has finally succeeded in securing a judgement against Baxter Healthcare Pty Ltd (Baxter) in relation to breaches of section 46 (misuse of market power) and section 47 (exclusive dealing) of the Trade Practices Act 1974 (TPA). The Full Court of the Federal Court this week handed down its decision to allow the ACCC's appeal against the primary judge's findings that Baxter was immune from TPA proceedings due to the doctrine of derivative Crown immunity. This argument was subsequently rejected by the High Court, which remitted the TPA claims back for hearing in the Full Federal Court.

Alert - Financial Services Working Group Public Information Session 15 August 2008 The Federal Government's Financial Services Working Group held a public information session on 12 August to provide an update on the Working Group's progress in relation to the finalised First Home Saver Account PDS project. The session also provided a brief update on the general PDS project, which is conducting a general review of the PDS regime, and also on the simple super project which seeks to address the accessibility of simple financial advice in relation to superannuation.

Alert - Official launch of the Australian Law Reform Commission's Final Privacy Report 11 August 2008 The Australian Law Reform Commission's landmark Report For Your Information: Australian Privacy Law and Practice was launched today in Sydney by the Cabinet Secretary, the Hon Senator John Faulkner, and the Attorney-General, the Hon Robert McClelland MP. The Report was simultaneously tabled in Federal Parliament and is currently available on the Australian Law Reform Commission's website.

Alert - Grocery Inquiry Report 08 August 2008 The Australian Competition and Consumer Commission has released its long awaited report of the ACCC Inquiry into the Competitiveness of Retail Prices for Standard Groceries.

Alert - China's new Anti-Monopoly Laws – A summary 07 August 2008 After 13 years of deliberation, China's landmark Anti-Monopoly Laws (AML) is now in effect. The AML's provisions are comprehensive and contain broad principles generally found in competition law regimes across Europe and the United States.

Alert - CRC program to continue with renewed focus on dealing with the big challenges facing Australia 06 August 2008 The report on the review of the Cooperative Research Centres Program (CRC Program), Collaborating to a purpose (Report), was released on 5 August 2008. The Report, which was prepared by Professor Mary O’Kane with input from the Collaboration Working Group of the National Innovation System Review, recommends that the CRC Program should continue with an increase in funding for the next funding round.

Alert - AUSTRAC releases further guidance on Ongoing Customer Due Diligence 05 August 2008 A new chapter of AUSTRAC's Regulatory Guide, released on 25 July 2008, provides guidance on, and sets out AUSTRAC's expectations for, complying with the AML/CTF obligations for ongoing customer due diligence (OCDD).

Alert - High Court upholds exclusion clause in PI decision 01 August 2008 On 30 July 2008, the High Court in CGU Insurance Limited v Porthouse [2008] HCA 30 held that an insurer was entitled to rely on an exclusion to deny cover under a professional indemnity policy. It found that a barrister could not claim under the policy because he knew, when applying for a policy with the insurer, of a potential error in his earlier advice to his client. In doing so, the High Court overturned the first instance and Court of Appeal decisions that went against the insurer.

Alert - NSW Law Reform Commission Consultation Paper proposes key reforms to Privacy Laws 30 July 2008 The New South Wales Law Reform Commission (Commission) has released a Consultation Paper proposing key reforms to the State's privacy laws providing greater clarity around the complex and multi-layered statutory framework. Its release precedes the Australian Law Reform Commission's final report on Australian privacy laws, which is expected to be released in late August. The Consultation Paper will complement the ALRC's report particularly in achieving national uniformity through the Uniform Privacy Principles

Alert - ACCC takes court action against Franchisor 28 July 2008 On 22 July 2008, the Australian Competition and Consumer Commission announced that it had issued court proceedings against a franchisor, Seal-a-Fridge Pty Ltd, and its director, alleging breaches of the Franchising Code and the Trade Practices Act 1974 in the Federal Court, Brisbane.

Alert - First unsolicited takeover bid by PRC state-owned group for Australian resources company 25 July 2008 Minter Ellison, in conjunction with Perth-based boutique law firm Hardy Bowen, is acting for Midwest Corporation Limited (MIS) on its response to Sinosteel Corporation's unsolicited bid for MIS and related matters. Sinosteel is the first state owned entity from the People's Republic of China to make an unsolicited takeover bid for a listed Australian resources company. MIS holds key development assets in the emerging mid-west iron ore region of Western Australia.

Alert - Federal Government launches inquiry into franchising industry 18 July 2008 The Federal Government has launched an inquiry into Australia's franchising industry to examine the operation of the Franchising Code of Conduct. Submissions have been invited by 12 September 2008.

Alert - What is a reporting entity? AUSTRAC releases Public Legal Interpretation No. 4 10 July 2008 On 4 July 2008, AUSTRAC released Public Legal Interpretation No. 4 of 2008 What constitutes a reporting entity (PLI No. 4). The purpose of this PLI is to set out AUSTRAC’s views on the provisions of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act).

Winners or Losers from Australia's Managed Investment Trust withholding tax regime? 09 July 2008 Foreign investors will no longer be entitled to claim a deduction for interest and other costs incurred against income arising from their investments in Australian Managed Trusts (MITs), following the introduction of a final withholding tax regime.

Alert - New Victorian OH&S regulations in force for the construction industry 07 July 2008 New regulations aimed at improving safety conditions in Victoria's building and construction industry came into effect on 1 July 2008. Employers will need to review contracts and workplace policies and procedures to ensure they comply with the additional requirements contained in the regulations.

Alert - RV Amendment Bill 2008 (NSW) 03 July 2008 The Retirement Villages Amendment Bill 2008 (NSW) currently before the Legislative Assembly will change a number of key financial and operational aspects of retirement village industry practice in New South Wales. If it is passed, the legislation is expected to become law later this year. The amendments are designed largely to benefit residents, although there are also some provisions that improve the position for operators in the industry.

Alert - National Greenhouse and Energy Reporting Regulations released today 26 June 2008 The Australian Government has released the regulations for the National Greenhouse and Energy Reporting Act 2007, which will commence operation on 1 July 2008.

Alert - GST case confirms margin scheme can apply following subdivisions - and a sting in the tail for the Commissioner 26 June 2008 The Full Federal Court has today upheld the taxpayer's appeal in Brady King. You will recall that the Federal Court's earlier decision had cast doubt on the ability to apply the margin scheme following a subdivision or strata titling because it held that the subdivided lots was not the same interest as originally acquired.

Alert - Variable pricing fixes buy-out of Macquarie Private Capital Group security holders 23 June 2008 Minter Ellison acted for Macquarie Private Capital Group on its schemes of arrangement and trust scheme under which Bear Stearns Private Equity acquired 100 per cent of the equity interests in the group.

Alert - The Federal Court of Australia declares decision in Ketchell's 'plainly wrong' 11 June 2008 In a decision which will only fuel more uncertainty in the franchising industry, Justice Rares of the Federal Court of Australia has refused to follow the decision of the Court of Appeal in Ketchell's case, declaring that it was 'plainly wrong'. The decision throws doubt over the consequences of a franchisor's failure to comply with the Franchising Code of Conduct. That doubt will not be resolved until the High Court delivers its judgment on appeal in Ketchell's case which was heard on 10 June 2008.

Alert - First Australian decision to consider transfer pricing methodology 03 June 2008 In a recent ruling on transfer pricing adjustments, the Administrative Appeals Tribunal held that the Commissioner's assessments in respect of amounts paid by Roche Products Pty Ltd, an Australian company, to its Swiss parent company, Roche Holdings Ltd, for pharmaceutical products were excessive. The case examined the various transfer pricing methods in attempting to establish a benchmark for arm's-length sales against which actual prices could be tested.

Alert - Superannuation reforms: Going beyond the traditional family 30 May 2008 On 28 May 2008, the Federal Government introduced a Bill to amend the Superannuation Industry (Supervision) Act 1993 (Cth) and the Income Tax Assessment Act 1997 (Cth) with effect from 1 July 2008 to remove discrimination against same gender couples and their children. If passed, these amendments will have wide ranging implications for superannuation trustees and their funds.

Alert - FORE! A warning to all golfers 28 May 2008 On instructions from an insurer, Minter Ellison have been successful in defending a claim by a golfer who claimed against a fellow player after being struck in the eye by his golf ball.

Alert - New PRC Law on Mediation and Arbitration of Labour Disputes – what you need to know 26 May 2008 The PRC Law on Mediation and Arbitration of Labour Disputes (Law), which came into effect on 1 May, focuses on the procedural features of the mediation and arbitration of labour disputes with the aim of further protecting employees' rights.

Alert - Victorian Government makes public its response to city's growth strategy 22 May 2008 The Victorian Government has put forward a series of recommendations in its response to the Melbourne 2030 Audit that commenced in 2006. The independent Audit aims to develop a strategic blueprint for Melbourne's planning and development needs. One of the key recommendations will involve the creation of Development Assessment Committees to make planning permit decisions in relation to areas and matters of metropolitan significance.

Alert - A national approach to personal property security 21 May 2008 The Federal Attorney General has called for a complete overhaul of the States and Territories Personal Property Securities laws in an exposure draft Bill released on Friday, 16 May 2008. The proposed Bill would 'replace 70+ Commonwealth, State and Territory Acts administered by 30 Government Agencies with a single national law and would be supported by a national online system for registering interests in personal property securities.

Alert - Supreme Court dismisses claim against franchisor 16 May 2008 In a recent court ruling in Western Australia, the Judge dismissed a claim made against a franchisor, Bedshed, for an alleged unreasonable restraint of trade clause contained in the company's franchise agreement. It was also held that Bedshed's selection criteria were reasonable and that it did not unreasonably withhold its consent to a request to transfer the franchise agreement.

Alert - Credit Default Swap portfolios – Time for a check-up? 15 May 2008 The credit markets are moving quickly and parties need to be in a position to rapidly take action to best protect their position. Now is the time to do a health check on your credit default swap portfolio.

Alert - Federal budget significantly restricts GST's margin scheme 14 May 2008 The Federal budget announces significant changes to the application of GST's margin scheme. In particular, under the current rules, when a taxpayer acquires land as a non-taxable supply (e.g. a GST-free going concern, a GST-free farm or input taxed residential land) the taxpayer can then apply the margin scheme on the sale of that land with a cost base equal to the price paid to acquire it. Accordingly, the taxpayer incurs no GST when the land is acquired but has a cost base equal to the price paid for that land on the subsequent sale.

Alert - Report on franchising in Western Australia 09 May 2008 The Western Australian Government has recently handed down a report following its Inquiry into the operation of franchise businesses in WA. The Inquiry concluded that there was room for improvement in the franchise industry and has made some significant recommendations.

Alert - Proposed Amendments to Predatory Pricing – Birdsville Goes Walkabout 29 April 2008 The Federal government yesterday announced proposals for reform to the misuse of market power, predatory pricing and unconscionable conduct provisions of the Trade Practices Act 1974 (Cth). The stated aim of the proposed amendments is to crack down on anti-competitive behaviour by powerful business, give small business prominent and permanent representation on the ACCC and provide small business with cheaper and more efficient judicial access.

Alert - ACCC investigation concluded – Bakers Delight found not in breach 24 April 2008 On 22 April 2008, the Australian Competition and Consumer Commission took the unusual step of announcing that following an extensive investigation into allegations of misleading and deceptive and unconscionable conduct towards franchisees, it had decided not to take any further action against franchisor, Bakers Delight. In an environment where franchisors are increasingly placed under the ACCC's spotlight, this will be a welcome announcement for franchisors.

Alert - Perth native title finding overturned by appeal decision 23 April 2008 The Full Federal Court today handed down its long-awaited appeal decision in the Perth portion of the Single Noongar Claim No 1 (SNC #1). The decision means continuing uncertainty surrounds the issue of native title in Perth.

Alert - Inventions developed by academic staff – what rights do universities have? 23 April 2008 The recent decision of University of Western Australia v Gray handed down by the Federal Court of Australia has taken a narrow approach to the issue of when a university is entitled to ownership of inventions developed by their academic staff. The decision also highlights a need for universities to consider the appropriate method of incorporating IP policies into their current contracts of employment.

Alert - Retail Leases Act Review 16 April 2008 The Department of State & Regional Development has issued a discussion paper outlining the issues said to affect the retail leasing industry in New South Wales.

Alert - State Revenue Legislation Amendment Bill 2008: Implications for stamp duty and land tax 09 April 2008 On 2 April 2008, the New South Wales parliament released a draft of the State Revenue Legislation Amendment Bill 2008. The Bill aims to introduce new and extend existing concessions while inserting anti-avoidance provisions into others. The Bill proposes to amend, amongst other legislation, the Duties Act 1997 and the Land Tax Management Act 1956.

Alert - Second public consultation on rewrite of the Companies Ordinance 09 April 2008 On 2 April 2008, the Government of the Hong Kong Special Administrative Region announced the second of a series of public consultations on the Companies Ordinance rewrite. The second consultation seeks public feedback on four proposals.

Alert - Government pushes ahead with component pricing amendments to TPA 01 April 2008 On 30 March 2008, the Federal Government announced that it will proceed with amendments to the Trade Practices Act 1974 relating to component pricing and has released the Trade Practices Amendment (Component Pricing and Other Measures) Bill 2008 for public comment.

Alert - ACCC takes Federal Court action against franchisor 01 April 2008 The Australian Competition and Consumer Commission's action against franchisor, Allphones, reaffirms the need for franchisees to remain vigilant in complying with the Franchising Code and the Trade Practices Act. With the amendments to the Code now in force it is crucial that franchisors review their documents and practices to avoid any contravention.

Alert - Planning reform in the ACT – implementation of the Planning and Development Act 2007 31 March 2008 The new Planning and Development Act 2007 in conjunction with the revised Territory Plan comes into effect today to replace the Land (Planning and Environment) Act 1991, the Planning and Land Act 2002 and the existing Territory Plan. One of the most significant changes for those engaged in the development/construction industry will be adaptation of the development assessment process, with all proposals to be funnelled through one of three assessment channels.

Alert - GST's Margin Scheme - Strategies to deal with Brady King 27 March 2008 Many taxpayers will be familiar with the recent decision of the Federal Court in Brady King, which has raised significant doubts regarding the application of the margin scheme, particularly in the context of major developments.

Alert - Implications of court ruling on validity of Franchise Agreements 19 March 2008 The significance of the New South Wales Court of Appeal's decision in Ketchell v Master Education Services Pty Ltd is only now being appreciated by the franchise industry in Australia as franchisors become increasingly concerned about the validity of their franchise agreements.

Alert - Telstra fails in its constitutional challenge to compulsory access laws 06 March 2008 The High Court today handed down its much anticipated judgment on Telstra's constitutional challenge to parts of the telecommunication specific access regime in the Trade Practices Act 1974 (Act). Telstra's challenge has failed.

Alert - Car dealership awarded GST refund 04 March 2008 A landmark decision in the Australian Federal Court could open the floodgates for car dealers to apply for a refund in cases where GST has been incorrectly paid to the ATO for 'holdback payments'.

Alert - A fundamental change in the law concerning 'consequential loss' 04 March 2008 The effectiveness of contractual clauses that seek to exclude consequential loss has been bolstered by a recent decision of the Court of Appeal in Victoria in Environmental Systems Ltd v Peerless Holdings Pty Ltd. This case changes the law concerning how these exclusion clauses will be interpreted.

Alert - A national approach to infrastructure delivery 26 February 2008 The improved delivery of Australia's infrastructure needs has been firmly placed on the political agenda following the introduction of Infrastructure Australia Bill 2008 in parliament last week. The formation of Australia's infrastructure advisory council marks an important step in the right direction towards providing a clearer and more defined national approach to infrastructure delivery in this country.

Alert - ACCC v Prouds Jewellers Pty Ltd [2008] FCA 75 22 February 2008 The Federal Court of Australia has handed down an important decision on the practice of 'Was/Now' pricing. The Court held that Prouds Jewellers Pty Ltd had engaged in misleading and deceptive conduct in breach of the Trade Practices Act 1974 (Cth) because goods had not been offered at the 'was' price immediately before the commencement of the relevant promotion.

Alert - Revamp of Victoria's tertiary legislative framework 20 February 2008 The State Government has announced a review of Victorian universities legislation with the aim of strengthening university governance, ensuring alignment with Victoria's new Human Rights Charter and creating a more user-friendly, transparent legal framework.

Alert - Call for public submissions on New Residential Zones for Victoria 19 February 2008 The Victorian Government has called for public submissions on its discussion paper New Residential Zones for Victoria, released Friday 15 February 2008. Comments can be submitted up until 18 April 2008.

Alert - New Asbestos Laws for Non-residential Premises 19 February 2008 As the date for compliance looms closer, it is a timely reminder that in late 2007 new laws were introduced regulating asbestos in non-residential buildings situated in the ACT. These laws will affect anyone who has control of a building (constructed before 31 December 2003) and / or who makes decisions about the management of a building (including owners, occupiers or property managers). The new laws will apply to the Commonwealth to the extent that the Commonwealth is in control of a building for the purposes of the Act. Building controllers must ensure compliance by the specified due dates, the first being 1 September 2008.

Alert - ACT introduces asbestos laws for non-residential premises 19 February 2008 As the date for compliance looms closer, it is a timely reminder that in late 2007 laws were introduced regulating asbestos in non-residential buildings situated in the ACT. These laws will affect anyone who has control of a building (constructed before 31 December 2003) and /or who makes decisions about the management of a building (including owners, occupiers or property managers). Building controllers must ensure compliance by the specified due dates, the first being 1 September 2008.

Alert – Managed Investment Schemes 18 February 2008 On 12 February 2008, AUSTRAC issued a further statement in relation to the regulation of managed investment schemes under the Anti-Money Laundering and Counter-Terrorism Financing Act.

Alert - Introducing the new merger bible 12 February 2008 The Australian Competition and Consumer Commission (ACCC) has released revised merger guidelines for public comment. The revised guidelines set out the general analytical framework applied by the ACCC when assessing mergers under the Trade Practices Act and seek to modernise the existing guidelines which have been in place since 1999. For businesses contemplating a transaction, the biggest practical issues likely to arise from the revised merger guidelines are the introduction of new 'notification' thresholds used by the ACCC and the removal of the existing 'safe harbour' market concentration thresholds for notification.

Alert - Submissions invited on the Greenhouse and Energy Reporting Regulations Policy 05 February 2008 The Australian Government has outlined its likely approach to the greenhouse and energy reporting regulations to be made under the National Greenhouse Energy and Reporting Act 2007. Its Regulations Policy Paper provides policy proposals on a number of significant issues, including key terms, tests for operational control and reporting procedures. Submissions on the proposals are invited by 27 February.

Alert - All managed investment schemes now subject to Anti-Money Laundering regime 31 January 2008 Managed investment schemes will be regulated under the AML/CTF Act from 31 January 2008 as a result of the Anti-Money Laundering and Counter-Terrorism Financing Regulations 2008 registered on 30 January 2008.

Alert -APRA release Draft General Insurance Prudential Framework – Implications for Direct Offshore Foreign Insurers 30 January 2008 The Financial Sector Legislation Amendment (Discretionary Mutual Funds and Direct Offshore Foreign Insurers) Act 2007 was passed by Parliament in September 2007. The Act widens the definition of 'carrying on business' under the Insurance Act, to capture foreign insurers providing insurance to Australian customers through an agent or broker, commonly known as a Direct Offshore Foreign Insurer.

Alert - Review of the format shifting exceptions for film and photographs – Issues Paper released 22 January 2008 The Government has released the Issues Paper for the review of the format shifting exceptions for photographs and films: Copying photographs and films in a different format for private use.

Alert - Australia moves to criminalise serious cartel conduct 17 January 2008 On 11 January 2008, the Australian Government released an exposure draft of the long awaited legislation to criminalise serious cartel conduct.

Alert - Call for Submissions to WA's Franchising Inquiry 16 January 2008 Next month is the deadline for submissions to the public inquiry into the operation of franchise businesses in Western Australia. The Inquiry will review existing state and federal legislation to determine whether there is a need for further reform.

Alert - Lease Duty abolished in NSW from 1 January 2008 14 January 2008 The date for the abolition of lease duty in NSW has arrived. No duty will be payable on most leases or agreements for lease first signed on or after 1 January 2008.

Alert - ACMA releases Restricted Access Systems Declaration 07 January 2008 ACMA has now released the final Restricted Access Systems Declaration 2007 (Declaration), mandated by the amendments to the Broadcasting Services Act 1992 (Cth) made by the Communications Legislation Amendment (Content Services) Act 2007 (Cth).

Alert - AML update 03 January 2008 AUSTRAC has updated its statement on the unintended exemption of managed investment schemes from the operation of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act). The revised statement is dated 21 December 2007 (the previous statement dated 11 December 2007 no longer appears on AUSTRAC's website). It can be found by clicking here.

Alert - Insolvency Law Reforms Introduced as Law – Key changes 21 December 2007 Key changes to the Corporations Act introduced by the Corporations Amendment (Insolvency) Act 2007 (Cth) commence on 31 December 2007 and will apply for insolvency administrations that commence after that date.

Alert - Commissioner's new approach to remitting interest for GST shortfalls from 'wash' transactions 21 December 2007 The Commissioner of Taxation has released a draft Practice Statement updating his approach to remitting the general interest charge on GST 'wash' transactions. The Practice Statement may result in some taxpayers reconsidering their approach to pricing for GST, particularly when conducting competitive tenders.

News Alert - Legal Privilege and the Independence of In-house Counsel 19 December 2007 On 13 December 2007, the Federal Court of Australia determined that legal advice provided by PricewaterhouseCoopers' (PwC) Office of General Counsel to the partners of PwC did not attract client legal privilege: Rich v Harrington [2007] FCA 1987.

News Alert - The Partridge in a Pear Tree: AUSTRAC concedes exemption for managed investment schemes 14 December 2007 On 11 December 2007, AUSTRAC advised that the wording of Item 35(b) of Table 1 in Section 6 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Act) unintentionally exempts the issue of units in a managed investment scheme from the operation of the Act. This view is at odds with industry's understanding of AUSTRAC's position, which was that AUSTRAC did not concede that the exemption had this effect and that as managed funds are intended to be regulated, industry should treat them as being regulated.

News Alert - Unacceptable circumstances avoided: Takeovers panel declared constitutionally valid 13 December 2007 The High Court today made orders in AG (Cth) v Alinta Ltd. The Court found that section 657A(2)(b) of the Corporations Act (the Act) – which empowers the Takeovers Panel to make findings about breaches of the takeovers provisions of the Act – is constitutionally valid.

News Alert - AML's 12 days to Christmas (and the 12 steps to AML compliance) 10 December 2007 On 12 December 2007, a number of provisions of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) and associated Rules come into force. These provisions include the requirement to develop an AML/CTF Program, identify customers and keep records of customer documentation.

News Alert - SA Occupational Health, Safety and Welfare legislation amended 26 November 2007 Following an amendment initiated in the South Australian Legislative Council, the much anticipated Occupational Health, Safety and Welfare (Penalties) Amendment Bill 2006, first introduced to Parliament in December last year, was passed by the House of Assembly on 21 November 2007 and will soon come into force after its assent and proclamation.

News Alert - Call for submissions to the Review of the Extension of Legal Deposit 02 November 2007 The Attorney-General's Department, together with the Department of Communications, Information Technology and the Arts, has released a discussion paper on the Review of the Extension of Legal Deposit. The Review will consider whether films, sound recordings and other materials in an electronic form, such as internet material or books published electronically, should be required to be deposited with the National Library of Australia, or another collecting institution.

News Alert - Underwriter and broker responsible for costs of failed IPO 31 October 2007 An underwriter and a sponsoring broker have been found liable to pay the costs of a failed IPO in a recent decision of the New South Wales Supreme Court. What went wrong and what steps can underwriters and brokers take to avoid the same outcome?

News Alert - SA Occupational Health, Safety and Welfare legislation amended 30 October 2007 After much debate the Occupational Health, Safety and Welfare (Penalties) Amendment Bill 2006, first introduced to Parliament in December last year, was passed by the South Australian Legislative Council on 23 October 2007. At the time of writing the Bill is not yet in force. It is likely to be proclaimed this week or next, at which time its amendments to the Occupational Health, Safety and Welfare Act 1986 (SA) will come into effect.

News Alert - ACMA releases proposed Restricted Access System Declaration for comment 30 October 2007 Commencing on 20 January 2008, the Communications Legislation Amendment (Content Services) Act will amend the Broadcasting Services Act to regulate content delivered over the internet, mobile phones and via other convergent devices. ACMA has now released the proposed Restricted Access System Declaration for comment. Restricted access systems must be employed by providers to ensure that certain categories of content will not be subject to take down notices from ACMA.

News Alert - Franchisors Beware: Court declares franchise agreement invalid 29 October 2007 A decision handed down by the NSW Court of Appeal sounds a warning to franchisors that failure to obtain all signed statements and certificates from franchisees could render the franchise agreement invalid. This decision has far-reaching consequences for franchisors and highlights the importance of strict compliance with the requirements of the Franchising Code of Conduct.

Legal Update - China adopts Anti-Monopoly Law 25 October 2007 China's long anticipated anti-monopoly legislation (AML) has recently been passed by the National People's Congress. Containing comprehensive provisions, this new law has an impact on any foreign company wishing to enter or expand its operations in China.

News Alert - Australia registering views on IP law in China 22 October 2007 The Australian Government Minister for Trade Mr Warren Truss recently announced that Australia will participate as a third party in the World Trade Organization dispute brought by the United States against China in relation to the protection and enforcement of intellectual property rights.

News Alert - Interim Design Guidelines for Large Format Retail Premises released 19 October 2007 The Victorian Minister for Planning and Community Development has released 'Interim Design Guidelines for Large Format Retail Premises'. These guidelines will be relevant to anyone involved in retail development in Victoria and will apply to new large format retail developments, including 'big box' retail, as well as extensions and redevelopments in or on the edge of activity centres.

News Alert - Minister proposes new residential zones 15 October 2007 Following months of consultation, the Minister for Planning and Community Development has released the 'Making local policy stronger' report. As part of its release, the Minister also announced various actions to implement key recommendations, including new residential zones.

Legal Update - Climate change to boost wider use of cat bonds 12 October 2007 The occurrence of a number of major natural disasters in the past few years has led to a wider interest in the use of catastrophe bonds as a means of transferring risk from insurers, reinsurers and other parties to capital market investors.

Legal Update - Industry leaders commit to green star 10 October 2007 Ten leading property owners, investors and developers have pledged to adopt the Green Star environmental rating system for all new buildings they own and occupy. The rest of the property industry is encouraged to follow, but what do you need to know before going green?

News Alert - Victorian Occupational Health & Safety Regulations 2007 for the construction industry 03 October 2007 All employers doing construction work in Victoria should assess whether their operational and risk management practices and procedures comply with the requirements contained in Victoria's new Occupational Health and Safety Regulations 2007.

News Alert - Incentives for early greenhouse abatement 28 September 2007 The Department of the Prime Minister and Cabinet is seeking feedback from business groups on greenhouse abatement incentives, that are intended to be introduced, prior to the commencement of its proposed national emissions trading scheme. A discussion paper has now been released which calls on organisations to provide comments, detailing the approaches and issues surrounding incentives for early greenhouse abatement action.

News Alert - Important development for brand owners concerned with counterfeiting 27 September 2007 Brand owners who can rely on copyright in their anti-counterfeiting activities will be keenly interested in draft guidelines issued recently by the Commonwealth Attorney-General in relation to on-the-spot infringement notices. The guidelines are designed to assist law enforcement officers enforce the new strict liability offences, intended to deal with low-level copyright crime that might be perpetrated by market or street stall operators, or first time offenders. The Guidelines are publicly available for comment until 5 October.

News Alert - Senate passes amendments for tighter classification laws 26 September 2007 The Senate has recently passed amendments to the country's classification regime to help strengthen laws that deal with materials advocating acts of terror. The changes will require publications, films and other material that advocate terrorism related activities to be refused classifications in Australia.

News Alert - Registration of .asia domain names opening soon 24 September 2007 From 9 October 2007, owners of registered, in use, trade marks will have the opportunity to apply for domain names in the new .asia top level domain.

News Alert - New Zealand Government outlines its climate change solutions 21 September 2007 The New Zealand Government has announced an all-encompassing emissions trading scheme will be the central platform for implementing New Zealand’s commitments under the Kyoto Protocol and reducing the country's greenhouse gas emissions.

Legal Update - Testing the waters of 'all reasonable endeavours' - Waters Lane and Anor v Sweeney and Ors [2007] NSWCA 200 10 September 2007 Discussion and negotiation over use of the terms 'all reasonable endeavours' and 'best endeavours' are commonplace in many commercial contracts. The NSW Court of Appeal recently considered what standard should be applied to an obligation to use 'all reasonable endeavours' with some interesting results.

News Alert - Recycled water - opportunities and challenges for infrastructure 31 August 2007 Ongoing severe water restrictions in many Australian cities, regional centres and smaller towns has prompted the emergence of several recycled water initiatives, in an attempt to better manage scarce water resources.

News Alert - High Court extends Trade Practice Act exposure to companies contracting with governments 30 August 2007 In a major change to established thinking, the High Court has effectively limited its 1979 decision relating to crown immunity, in deciding that crown immunity does not apply to commercial contracts involving federal, state and territory governments, as far as the corporation contracting with that government is concerned.

Legal Update - Incorporation by reference - giving clients what they want 28 August 2007 Recent amendments to the Corporations Regulations 2001 will introduce shorter disclosure documents to help promote a more effective regulatory regime for the financial services industry.

Legal Update - Little Joe franchisor faces prison over contempt of court 24 August 2007 Two years after the orders were made against Mr Levi for breaches of the Franchising Code of Conduct and misleading and deceptive conduct, the ACCC is pursuing him in the Federal Court for contempt of Court. The ACCC alleges that Mr Levi sold five business opportunities to people without complying with the Injunction Orders and received over $100,000 for the sale of these businesses.

Legal Update - Changes to Franchising Code of Conduct 21 August 2007 Franchisors have been advised to amend and update their disclosure documents in time for the changes to the Franchising Code of Conduct, that comes into operation on 1 March 2008. The changes will require more detailed disclosure by franchisors regarding their franchise operations, and the ACCC is likely to pursue those who do not comply with the Code's amendments.

Legal Update - GST implications for vendors and purchasers on forfeited deposits 13 August 2007 Last month, the Federal Court handed down its decision over vendor liability for GST payments in respect of forfeited deposits, under Contracts for the Sale of Land. The Court rejected arguments of the Tax Office that GST must be paid on forfeited deposits. The Commissioner has announced that an application for special leave will be made to appeal this decision to the High Court.

Legal Update - Changes to litigation practice in the Supreme Court of NSW 10 August 2007 Electronic discovery has arrived. A new Practice Note just issued by the Supreme Court of NSW will significantly change the litigation process for proceedings, particularly the practice relating to discovery of documents. All document discovery in the commercial, construction and technology lists is to be made electronically, with parties to exchange documents by CD or DVD. It is expected that this move will reduce photocopying and other associated costs of litigation.

News Alert - Statutory demand for judgment obtained under the security of payments act is appropriate 25 July 2007 A decision handed down last week by the Queensland Supreme Court in Peekhrst Pty Ltd v Glenzeil Pty Ltd [2007] QSC 159 suggests that Queensland courts may be more willing to allow parties to make statutory demands in respect of judgment debts obtained under the security of payment acts.

Legal Update - Red chips return to China's capital market 19 July 2007 In a move to increase share supply to help deflate the Shanghai and Shenzhen stock exchange bubble, China's securities regulator has finalised provisional rules for Hong Kong listed red-chip enterprises to return home and list on the A-share market.

News Alert - WA decision puts Home Owners Warranty (HOW) market on tenterhooks 16 July 2007 Following HIH's collapse in 2001, insurers writing home owners warranty policies have routinely sought indemnities and bank guarantees from builders before issuing certificates of insurance. A Western Australian District Court case decision has called into question the legality of this practice.

Legal Update - New building commission to be established in WA 13 July 2007 The Minister for Housing and Works, Michelle Roberts, announced on 2 July 2007 that the State Government is planning to consolidate the government agencies dealing with the building industry into a new body – the Building Commission of Western Australia.

Legal Update - China's national security screening for foreign acquisitions: case study of Blackstone and Carlyle 12 July 2007 Two case studies indicate the various challenges foreign investors face in China's mergers and acquisitions market. A key issue is the government's protection of perceived 'key' sectors.

News Alert - GST and security deposits: appeal upheld against GST assessment 06 July 2007 A recent decision represents a significant win for the taxpayer, with the Full Federal Court unanimously rejecting the Commissioner’s position on the GST treatment of forfeited deposits.

Legal Update - Changes to fundraising laws 06 July 2007 The Corporations Legislation Amendment (Simpler Regulatory System) Bill 2007 received Royal Assent on 28 June 2007 and implements a range of measures to simplify and streamline corporate and financial services laws. The changes to fundraising laws are outlined in the attached Legal Update.

Legal Update - Landmark Victorian proportionate liability decision: implications for WA contracts 04 July 2007 The Victorian Supreme Court decision of Keith Woods v. Rodney Mario De Gabriele and Others established that the proportionate liability regime may apply to all claims under contracts for the provision of services.The position in Western Australia differs significantly because the proportionate liability regime can be excluded by the parties to a contract.  Indeed, the prevalence of proportionate liability exclusion clauses in commercial contracts in Western Australia has been growing over the last two years.

Legal Update - Second draft bill for streamlining prudential regulation 03 July 2007 The Government has released a further draft bill of the legislation which aims to implement the proposals contained in the paper Streamlining Prudential Regulation: Response to 'Rethinking Regulation'.

News Alert - Investment bank contracts out of duty to client: ASIC v Citigroup 29 June 2007 ASIC lost a landmark legal action yesterday, when the Federal Court found that Citigroup had not acted with a conflict of interest and had not been involved in insider trading.

Legal Update - Industry Update for AML/CTF 29 June 2007 Industry guidelines and guidance notes are on the agenda for AML/CTF as industry bodies seek to progress works underway. We outline the imperatives for financial institutions as a result.

News Alert - Content regulation: Content Services Bill passed 27 June 2007 The Communications Legislation Amendment (Content Services) Bill 2007 (Cth) was passed on 20 June 2007 and the key provisions will commence within six months of the Bill receiving royal assent. Before being passed, five key changes were made to the Bill as a result of a Senate Standing Committee report.

Alert - Protecting small business from market power misuse 21 June 2007 The Commonwealth Government recently introduced a reform package to enhance the protection of small businesses against the misuse of market power. The proposed legislation puts forward several key amendments to the Trade Practices Act (TPA) which may provide better guidance to the courts, but in our view, will not have a substantial impact on the current operation of the TPA.

News Alert - Impending retail competition in electricity: tenants still unable to refuse the landlord's supply? 20 June 2007 On 1 July 2007, Queensland will follow South Australia, Victoria, New South Wales and ACT and introduce full retail competition in electricity. However, in practice, retail choice will not be open to most tenants and they will still only be able to purchase electricity from their landlord or body corporate.

Legal Update - Draft legislation released for streamlining prudential regulation 14 June 2007 The Government released an exposure draft bill on 11 May 2007 of the legislation which aims to implement the proposals contained in the paper Streamlining Prudential Regulation: Response to 'Rethinking Regulation'. This legal update summarises the main provisions of the bill, together with details of areas where it differs from the original proposals.

News Alert - New draft legislation regulating the provision of electronic content 13 June 2007 On 12 June 2007 a Senate Review Committee recommended the passing of the Communications Legislation Amendment (Content Services) Bill 2007 (Cth) (introduced into Parliament in May this year), which proposes new regulations on service providers for three categories of content delivered over the Internet and mobile phones.

News Alert – Retail Tenancies - Overholding may lead to five year term commencing from the start of the overholding 08 June 2007 Landlords have been put on notice following a recent decision handed down by Victorian Civil Administrative Tribunal (VCAT) which states retail tenants that overhold may become entitled to a five year term commencing from the start of the overholding period.

Legal Update - Supreme Court intervenes in sale deadlock 01 June 2007 A recent NSW Supreme Court case involving mezzanine lenders which has received publicity recently has far-reaching implications for mortgagors and lenders. It involved the court-ordered sale of land against the mezzanine lender's wishes but it does emphasise that, only in the most extreme cases, will a court intervene and order a sale of land.

Legal Update - Overriding discretion to release exempt documents 24 May 2007 The discretion to order the disclosure of exempt documents under the Freedom of Information Act has taken an interesting turn, with recent case law indicating the public interest being a strong factor in how that discretion is exercised.

Legal Update - Further developments in interest withholding tax 22 May 2007 Taxation Laws Amendment (2007 Measures No. 3) Bill 2007 proposes amendments that narrow the definition of a debt interest that is eligible for a section 128F exemption. From 7 December 2006 debt interests will only qualify for an interest withholding tax exemption where there has been a public offer of debentures, a non-equity share, a syndicated loan or a debt interest prescribed by regulation.

Legal Update – Intellectual Property developments in China 10 May 2007 This legal update discusses recent intellectual property developments in the People's Republic of China, including the new franchise regulations which took effect on 1 May 2007, intellectual property rights under the landmark first Property Law, which will come into effect in October 2007 and new Interpretations on criminal protection of intellectual property rights, which took effect in April 2007.

News Alert - Company Indemnity read strictly in NRMA-Whitlam case 13 April 2007 In a landmark decision this week, The Court of Appeal has held that Mr Nicholas Whitlam, former NRMA President, was not entitled to an indemnity for his costs in defending the defamation proceedings he commenced against 2GB and Channel Nine in 2002. This news alert examines the reasons behind the Court's decision.

Legal Update - Draft financial services regulations released 13 April 2007 On 26 March 2007, the Australian Government released the Corporate and Financial Services Regulation Review: Draft Corporations Amendment Regulations and Commentary. The Draft Regulations progresses the amendments and addresses the reforms suggested in the Corporate and Financial Services Regulation Review Consultation Paper released for consultation on 7 April 2006.

Legal Update - New Disciplinary Framework for WA Local Government 05 April 2007 The Local Government (Official Conduct) Amendment Bill 2005 passed through the WA State Parliament on 21 March 2007. It establishes a new regulatory framework for scrutinising and dealing with misconduct by individual elected local government members. The legislation is now awaiting Royal Assent. The legislation is expected to be operational by 20 October 2007 in time for local government elections.

News Alert - APRA releases final prudential standards and guidance for life insurance 05 April 2007 The Australian Prudential Regulation Authority has released final prudential standards and guidance on risk management and business continuity management for the life insurance industry, including friendly societies. The standards and practice guides will be effective from 1 January 2008.

Legal Update - Intellectual Property developments in China 12 March 2007 This legal update summarises recent Intellectual Property developments and cases in the People's Republic of China including the first interpretation of the Unfair Competition Law in China and Pfizer's battles to protect its Viagra trade mark.

Legal Update - Government recommends amendments to Franchising Code of Conduct 08 March 2007 On 6 February 2007, the Government published its response to a set of recommended reforms to the disclosure provisions of the Franchising Code of Conduct.

News Alert - Xstrata decision finds no causal link between mine's operations and climate change 01 March 2007 In the recent decision of Re Xstrata Coal Queensland Pty Ltd & Ors [2007] QLRT 33, the Land and Resources Tribunal of Queensland (the Tribunal) recommended that an application for additional surface area for coal mining operations be granted without the conditions sought by objectors – to avoid, reduce or off-set greenhouse gas emissions (GHG emissions) – because it was not satisfied that the objectors could demonstrate a causal link between the mine's GHG emissions and a discernible impact on global warming and climate change.

News Alert - AML Version 1.1: upgrading the rules and a technical amendments Bill 19 February 2007 On 14 February 2007 AUSTRAC released a second consolidated draft of the Anti-Money Laundering and Counter-Terrorism Financing Rules. AUSTRAC is expected to finalise and register the Rules by April, following industry consultations and submissions. Other draft Rules relating to ongoing due diligence and compliance reports to AUSTRAC are yet to be released. In tandem, the Government introduced a technical amendments Bill to amend the Act on 15 February 2007 to addresses some of the technical issues raised by two Senate Inquiries late last year. The Bill does not address significant policy issues.

News Alert - Government releases reform package for Insurance Contracts Act 13 February 2007 The Government, through the Parliamentary Secretary to the Treasurer, Chris Pearce MP, yesterday released a draft reform package reflecting most of the recommendations of the review of the Insurance Contracts Act 1984.

Legal Update - New Victorian OH&S Regulations 13 February 2007 WorkSafe Victoria recently released the proposed Occupational Health and Safety Regulations 2007 for public comment. The proposed regulations are intended to consolidate the existing regulations, simplify them and bring them into line with national standards.

Legal Update - Recent developments in intellectual property in China 09 February 2007 This legal update on Intellectual Property summarises significant recent trade mark infringement cases in the People's Republic of China involving the UK F.A. Premier League, Starbucks and Bloomberg.

News Alert - First Goldfields native title claim dismissed 06 February 2007 Yesterday, the Federal Court dismissed the first Goldfields' native title claim to be heard by the Federal Court. The decision means that a large area of the Goldfields Region of WA – an area important for the State's resources economy – is currently free from native title. However, the Judge left open the possibility that other groups and individuals might establish native title in future claims. As a result it will be some time yet before miners, and others with project interests in the Goldfields Region, have certainty about the native title landscape.

Legal Update - Selling land and land rich entities: non-resident tax issues 14 December 2006 This Legal Update provides an overview of the Australian tax issues for non-residents in respect of the sale of Australian real property interests following Australia's capital gains tax reforms contained in Taxation Laws Amendment (2006 Measures No.4) Act 2006. The Reforms will apply to gains made after Royal Assent. It also outlines some related stamp duty issues for non-residents on the sale of interests in 'land rich' entities.

News Alert - Streamlining prudential regulation - response to 'Rethinking Regulation' 08 December 2006 On 4 December 2006, the Australian Government released its latest Proposals Paper which seeks to address recommendations in the Rethinking Regulation report of the of the Taskforce on Reducing Regulatory Burdens on Business, and outstanding recommendations of the HIH Royal Commission. The aim is to increase flexibility in the Acts administered by APRA - the Banking Act 1959, Insurance Act 1973, Life Insurance Act 1995 and Superannuation Industry (Supervision) Act 1993 (SIS Act), - and reduce inconsistency between these Acts and the Corporations Act.

News Alert - Anti Money Laundering Bill made law 08 December 2006 On 7 December 2006, the Parliament passed the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) (Act). The new Act is the culmination of two public exposure drafts and two Senate Inquiries. The Government passed the Bill unamended, despite recommendations for amendment by the most recent Senate Inquiry and proposed amendments by Labor and two of the minor parties. However, the Government plans on passing a technical amendments Bill early in 2007. This News Alert provides an update on the passing of the Bill and what the Government's policy direction will be in 2007.

Legal Update - Recent developments in intellectual property in China 05 December 2006 This legal update on Intellectual Property in the People's Republic of China summarises significant recent and pending cases on copyright, patent and trade mark infringement.

News Alert - Copyright Amendment Bill 2006 passes Senate with amendments 04 December 2006 Further to our News Alert of 30 November 2006, the Copyright Amendment Bill 2006 has now passed the Senate. The Government tabled a number of amendments to the Bill, all of which were passed.

News Alert - States react strongly to Switkowski Report 01 December 2006 State Labor governments have reacted swiftly and strongly to the release of the Commonwealth Government's Uranium Mining, Processing and Nuclear Energy Review by seeking to ban the development of nuclear power stations and enrichment facilities within State boundaries.

Legal Update - Registration encouraged to protect interests in trade marks 01 December 2006 Under the Trade Mark Amendment Act 2006, the power of a registered owner to deal with their trade mark will be limited only by rights that are recorded in the Register.

News Alert - Government releases amendments to Copyright Amendment Bill 2006 in response to the Senate Committee report 30 November 2006 Further to our News Alert of 15 November 2006, the Government has released its amendments to the Copyright Amendment Bill 2006 in response to the Senate Committee report.

News Alert - Cessation of the Endorsed Supplier Arrangement 30 November 2006 The Federal Government yesterday announced the cessation of the Endorsed Supplier Arrangement (ESA). The mandatory ESA scheme will be replaced by a voluntary ICT multi-use list, to be administered by the Department of Finance and Administration.

Legal Update - EK Nominees Pty Ltd v Woolworths Ltd case summary 30 November 2006 In EK Nominees Pty Ltd v Woolworths Ltd [2006] NSWSC 1172, non-disclosure by Woolworths was held to amount to misleading and deceptive conduct in contravention of s 52 of the Trade Practices Act 1974 (Cth) (TPA). This case is a reminder of the importance of disclosure in commercial negotiations where there is a reasonable expectation that disclosure will be made and the risk of silence in these cases.

Legal Update - Armstrong Jones Management Pty Ltd v Saies-Bond & Associates Pty Ltd case summary 30 November 2006 In Armstrong Jones Management Pty Ltd v Saies-Bond & Associates Pty Ltd, the Administration Decisions Tribunal (the Tribunal) upheld allegations of misleading and deceptive conduct and unconscionable conduct arising from statements made by a landlord's agent in pre-lease discussions with one of the inaugural tenants in a newly established retail shopping centre.

News Alert - APRA's Outsourcing Standards delayed to 1 April 2007 28 November 2006 Following submissions by industry, the Australian Prudential Regulation Authority  has delayed the commencement of prudential standards for the outsourcing of material business activities by authorised deposit-taking institutions, general insurers and life insurers.

Legal Update - New ACCC guidelines for food and beverages industry 28 November 2006 The ACCC has issued new guidelines designed to assist food and beverage companies in understanding and complying with the provisions of the Trade Practices Act.

Legal Update - Consumer watchdog bites pet food franchisor 24 November 2006 Scotty's Premium Pet Foods is the latest scalp in the ACCC's war against franchisors who breach the Franchising Code of Conduct and the Trade Practices Act. This case sends a clear warning to franchisors to exercise caution in drafting and serving breach notices on franchisees.

News Alert - Switkowski Uranium & Nuclear Energy Taskforce finds need for streamlined regulation and growing role for Australian uranium industry 21 November 2006 The draft report of the Uranium Mining, Processing and Nuclear Energy Review, headed by Dr Ziggy Switkowski and commissioned by the Federal Government, was released earlier today. Our news alert highlights the key recommendations of the Review.

News Alert - FSR refinement proposals: rebooting the system 20 November 2006 On 16 November 2006, the Australian Government released a Proposals Paper on its further review of corporate and financial services regulation. The proposals refine financial services regulation and broader corporate issues affecting all businesses.

Legal Update - Proposed changes to NSW Home Building Act will assist claims for construction defects 17 November 2006 A bill introduced into the New South Wales Parliament will significantly increase the opportunities for homeowners to claim for construction defects under the Home Building Act.

News Alert - Senate Committee releases report into the Copyright Amendment Bill 2006 15 November 2006 The Senate Standing Committee on Legal and Consitutional Affairs has released its report on the provisions of the Copyright Amendment Bill 2006. Details of the proposed changes in the Bill were provided in our News Alert of 20 October 2006.  Subject to 15 specific recommendations, the Committee recommends that the Senate pass the Bill.

Legal Update - PI insurance requirements for financial services licensees 15 November 2006 The Federal Government released draft Regulations on 2 November 2006, activating compensation arrangements requirements for licensees providing financial services to retail clients.

Legal Update - Louis Vuitton loses trade mark infringement case against market owner 14 November 2006 Luxury brand owners have been dealt a blow in their fight against counterfeit goods sold at Australian markets as a result of a recent Federal Court decision involving luxury goods company Louis Vuitton, which has lost its trade mark infringement case against the owner and operator of the popular Carrara markets on the Gold Coast.

News Alert - Productivity Commission report recommends increased focus on social and environmental outcomes in public funding of science and innovation 13 November 2006 The Productivity Commission has released a report on the public support of science and innovation in Australia, which recommended a number of ways in which the positive impacts of government funding could be improved, including making several changes to the CRC program and improving universities' management of their intellectual property.

News Alert - Insolvency Law Reform – Key changes affecting insolvency practitioners 13 November 2006 The Government's long-awaited insolvency reforms were announced last Friday with Exposure Drafts of the Corporations Amendment (Insolvency) Bill 2007, and associated Regulations and Explanatory Statements released for public comment. The reforms are set to modernise, streamline and strengthen Australia's insolvency laws and have far-reaching implications for insolvency practitioners.

News Alert - Insolvency Law Reform – Key changes 13 November 2006 The Government's long-awaited insolvency reforms were announced last Friday with Exposure Drafts of the Corporations Amendment (Insolvency) Bill 2007, and associated Regulations and Explanatory Statements released for public comment. The reforms are set to modernise, streamline and strengthen Australia's insolvency laws.

News Alert - Insolvency Law Reform – Key changes affecting lenders 13 November 2006 The Government's long-awaited insolvency reforms were announced last Friday with Exposure Drafts of the Corporations Amendment (Insolvency) Bill 2007, and associated Regulations and Explanatory Statements released for public comment. The reforms are set to modernise, streamline and strengthen Australia's insolvency laws and have far-reaching implications for secured lenders.

Legal Update - Viagra Patent upheld 10 November 2006 The No.1 Beijing Intermediate Court overturned the Patent Re-examination Board's (PRB) decision to invalidate the Viagra patent and ordered that a new decision be made validating the patent on 2 June 2006.

Legal Update - Dell's appeal against registered Chinese translation dismissed 10 November 2006 The No.1 Beijing Intermediate Court recently upheld a decision of the Trademark Review and Adjudication Board of PRC (TRAB) not to cancel the registration of the Chinese translation of DELL by a Chinese company. This case is a warning to foreign investors to register all Chinese translations of their trade mark where there is even a possibility of entering the Chinese market.

News Alert - Anti-Money Laundering and Counter-Terrorism Financing Bill 2006 03 November 2006 The Australian Government introduced the Anti-Money Laundering and Counter-Terrorism Financing Bill into Parliament on 1 November 2006. The AML/CTF reforms are likely to be the single most significant legal and compliance issue faced by the financial services industry over the next two years. The Bill contains a few surprises and significant changes including: removal of many criminal offence provisions leaving civil penalties which have a lower standard of proof expansion of the concept of the 'designated business group' so that any reporting entity can join a designated business group granting of broad powers to AUSTRAC to exempt or modify the Act the introduction of a phased implementation period for different obligations.

Landlords of retail shops may be caught by the right for tenants to take five year term 01 November 2006 Changes to section 6A of the Retail Leases Act 1994 (NSW) that came into force on 1 January 2006 mean that occupants of retail premises under informal or short term arrangements, or retail tenants holding over under an expired retail lease, may, in certain circumstances, be entitled to a five year term after 1 January 2007. Read our legal update for further information on the Act.

Legal Update - Expert Determinations: When are they judicially reviewable? 27 October 2006 The Supreme Court of Victoria has recently considered two important aspects of expert determinations, which illustrate a number of differences between expert determinations and arbitrations and also illustrate the importance of the precise wording of expert determination provisions in agreements.

News Alert - At Last! TPA Amendment Act finally passed by Parliament 26 October 2006 The dam burst last week on several key reforms which profoundly affect the competition law landscape in Australia. The merger clearance process is set to change and there will be significant increases in corporate penalties and a radical tightening of personal liability regime for anti competitive conduct.

News Alert - Media acquisition opportunities in Australia 20 October 2006 The Australian media landscape will be forever changed by the passage of new legislation, which will open the doors to foreign investment in Australian media entities.

News Alert - Copyright Amendment Bill 2006 Introduced into Parliament 20 October 2006 The Copyright Amendment Bill 2006 (the Bill) was introduced into Parliament yesterday. The reforms embodied in the Bill represent significant changes in Australia>'s copyright law.

Legal Update – APRA refines prudential supervision of general insurance groups 19 October 2006 The Australian Prudential Regulation Authority (APRA) released a Response Paper on Prudential Supervision of General Insurance Groups on 4 October 2006, which refines the original proposals on the draft prudential framework for corporate groups involving authorised general insurers.

News Alert - Release of the prudential standards for outsourcing 12 October 2006 APRA released its finalised prudential standards - LPS 231, GPS 231, APS 231 and PPG 231 - and guidance on outsourcing for life insurers, general insurers and authorised deposit-taking institutions on 6 October 2006.

News Alert - Draft prudential standards and guidance for life insurance 12 October 2006 The Australian Prudential Regulation Authority (APRA) released its suite of draft prudential standards and guidance for the life insurance industry on 3 October 2006, enshrining what APRA sees as essential minimum prudential requirements for the management of life companies, and bringing the life insurance industry in line with its recently reformed compatriots in general insurance and superannuation.

News Alert - Love thy neighbour? Rowdy tenants: Landlord's liability to neighbours 10 October 2006 Just how far should landlords go in ensuring their tenants do not cause a nuisance to others? This news alert examines a recent decision, which reinforced the general rule that a landlord is not ordinarily responsible for a nuisance created by a tenant.

Legal Update - Owners Corporation Act – 2006 25 September 2006 The Owners Corporation Act was passed on 14 September 2006 and received assent on 19 September 2006. The Act, in effect, replaces and enlarges upon the regulations under the Subdivision Act 1988 with regard to bodies corporate (now called 'owners corporations'). This legal update examines the Act and highlight the Act's key provisions.

News Alert - First native title claim upheld in a capital city 20 September 2006 In a decision that has surprised some, Justice Wilcox of the Federal Court yesterday found that native title exists in the Perth metropolitan region, the first time native title has been upheld over a capital city. The decision in Bennell v State of Western Australia relates to the Single Noongar Claim No. 1, a vast native title claim covering the south-west corner of Western Australia.

Case Update: Intel license provokes China's 'first competition law case' 19 September 2006 Beijing DongJin Xinda Technology Co. Ltd v. Intel has been referred to as China's first competition case.

Case Update: Nike likely to prevail in Chinese domain name dispute 19 September 2006 Beijing GuoWang Information Ltd Co v Nike is a warning to foreign investors to register relevant Chinese domain names if there is even a remote prospect of entering the Chinese market.

China's new regulations on mergers and acquisitions of domestic entities 19 September 2006 New regulations governing mergers and acquisitions of domestic entities in China have important competition and intellectual property consequences for foreign investors.

Interpretation of the Unfair Competition Law in China 19 September 2006 The Intellectual Property division of the Supreme Court met to seek expert opinion on the Draft of the Supreme People's Court Interpretation of Unfair Competition Law, which will provide the first detailed explanation of the unfair competition law since it came into effect in 1993.

News Alert - New South Australian suppression order legislation introduced 14 September 2006 The introduction of a new Bill on the use of suppression orders in South Australia courts imposes a higher threshold test for making suppression orders and is a welcome development in a state in which limitations on court reporting are renowned.

Campbells Cash and Carry Pty Limited v Fostif Pty Limited [2006] HCA 41 12 September 2006 On 30 August 2006, by a majority of 5:2, the High Court handed down a decision in favour of litigation funding. The litigation funder (Firmstones Pty Limited) was attempting to assist small tobacco retailers in New South Wales recover licence fees from wholesalers. Our attached Legal Update explores this decision in further detail.