It is common knowledge that directors owe duties to a company. Directors are, after all, responsible for its overall governance and direction. However, those duties are usually loosely acknowledged, and their scope is often underappreciated. In smaller businesses,...
Voidable transactions form a vital part of the insolvency regime and ensures that the assets of an insolvent company are made equally available to its creditors, particularly those that have been sought to be made unavailable in the period leading up to the...
The voidable transaction regime under Part 5.7B of the Corporations Act 2001 (Cth) (the Act) provides a framework for liquidators to pursue recovery action against parties who have received property or some form of benefit from an insolvent company. In turn, the...
There are changes happening! Significant changes are set to shake up the law of Unfair Contract Terms in small business standard form contracts. The changes come into effect on 9 November 2023 and will introduce serious penalties for businesses that use and rely on...
Company directors must be aware that you have less than two weeks left to apply for a Director Identification Number (DIN), or risk exposure to a substantial monetary penalty. The introduction of the DIN initiative seeks to promote good corporate governance and...
The Federal Government released exposure draft legislation aimed at increasing penalties for contraventions of Australia’s competition and consumer laws. In August 2022, the Federal Government released the Treasury Laws Amendment (Competition and Consumer Reforms No....
The High Court recently handed down two decisions that mark a significant shift in how employment and independent contractor relationships are determined. Essentially, the High Court has held that the terms of the written contract will determine whether a person is an...
Disputes concerning the availability of exclusion clauses to deny liability for COVID-19 related insurance claims continue to be litigated before the Courts. As lockdowns and closure orders take an increasingly heavy economic toll on businesses, policy holders...
Key Takeaways Whether employers can mandate vaccinations against COVID-19 for employees depends on the unique circumstances surrounding each workplace and whether it is lawful and reasonable. The Fair Work Ombudsman (FWO) has set out guidance for employers to...
New legislation allows the continuation of electronic execution of company documents There is some welcome news for companies executing documents whilst lockdown persists. The Treasury Laws Amendment (2021 Measures No. 1) Act 2021 (Cth) came into operation on and from...
Significant changes regarding resignations of company directors come into effect today. Last year, amendments to the Corporations Act were made by the Treasury Laws Amendment (Combatting Illegal Phoenixing) Act 2020 (Cth) ("Act") to combat the rise of phoenix...
Land tax threshold exemptions available for unit trusts In NSW, a fixed trust is eligible for land tax threshold exemptions if it satisfies the definition of "fixed trust" under the Land Tax Management Act 1956 ( Act), so that the beneficiaries of the trust are...