3 December 2013
A recent New Zealand High Court decision McCloy v Manukau Institute of Technology  NZHC 936 held that a step-in right in a construction contract is a security interest under the New Zealand equivalent of the Personal Property Securities Act 2009 (Cth) (PPSA).
Download PDF 506 KB
29 November 2013
Each year, the Australian Taxation Office (ATO) announces its compliance focus for the year ahead and provides some insight into where it will focus its attention. The intention each year is to claim back lost revenue and catch out those taxpayers who "cheat the system".
For the current financial year, the ATO has announced that one of its targets will be trusts and in particular, the misuse of trust structures.
Download PDF 355 KB
Author: Jemal Zagami
28 November 2013
The 2012 edition of the JORC Code has been in effect for close to a year but many ASX listed entities have continued to report in accordance with the 2004 JORC Code. Those entities now need to be ready to comply with the 2012 JORC Code and the amended Chapter 5 of the ASX Listing Rules, which become mandatory on 1 December 2013 for all ASX listed entities.
Aside from the fact that non-compliance with JORC Code constitutes a breach of the ASX Listing Rules, ASIC is giving greater attention to JORC Code compliance in respect of all company announcements, expert reports, notices of meeting and disclosure documents. ASIC is generally taking the view that failure to fully comply with the technical requirements of the JORC Code will render a companyÕs announcement or report misleading and deceptive. Non-compliance risks transactional delay and regulatory action.
The 2012 JORC Code and revised Chapter 5 of the ASX Listing Rules increase the technical disclosure requirements. Listed entities and competent persons should ensure that they fully understand the new requirements before the need to report an Exploration Result, Mineral Resource or Ore Reserve arises.
Download PDF 476 KB
Author: Will Moncrieff
21 November 2013
The Australian Taxation Office recently revised its Code of settlement practice.
Download PDF 402 KB
15 November 2013
Local Government reform update - the Local Government Amendment Bill 2013 and the Government's updated plan for boundary changes
The Local Government Amendment Bill 2013 ("the Bill") was introduced into the Legislative Assembly on 30 October 2013.
Minister for Local Government, Tony Simpson, described the Bill as "an important step in a historic reform of the local government sector".
Then, on 12 November 2013, the Minister released an updated plan of the Government’s proposed local government boundaries and lodged proposals reflecting those boundaries for consideration by the Local Government Advisory Board ("LGAB").
When the Government released its blueprint for reform in July 2013, we commented that the "music had started" and that it was time to "choose your dance partners" for the reform process. At the risk of taking that analogy too far, does the Bill mean that the band has fundamentally changed, or has the line-up and playlist simply been refreshed? Is the ballroom going to turn into a rave party, or a line-dance?
Download PDF 948 KB
Author: Lance Hilton-Barber
13 November 2013
The Asbestos Diseases Compensation Bill 2013 (the Bill) was introduced into parliament by the Honourable Kate Doust, MLC, as a private members bill. It received its second reading on 31 October 2013 and was adjourned to 19 November 2013.
Download PDF 559 KB
Author: Alex Lustig
6 November 2013
With summer just around the corner, and some unseasonally hot weather already upon us, the decision of the Coroner of Western Australia in the investigation into the death of James Gregory Box in March 2012, the report of which was published on 30 October 2013, is a timely reminder of the dangers associated with children and swimming pools. Further, in his report the Coroner makes two recommendations that are directed expressly to Local Governments.
Download PDF 929 KB
Author: Lance Hilton-Barber
31 October 2013
On 30 October 2013, the High Court handed down its decision in Comcare v PVYW  HCA 41 which considered whether an employee’s injuries arose in the course of employment where those injuries were suffered while the employee was engaged in sexual intercourse with an acquaintance during an overnight stay at a motel that was booked by the employer.
Download PDF 383 KB
Author: Alex Lustig
30 October 2013
An extract of the decision of Hall J in Birla Nifty Pty Ltd v International Mining Industry Underwriters Ltd  WASC 386. It is a useful and succinct summary of how the Western Australian Supreme Court approaches the interpretation of insurance policies.
Download PDF 541 KB
Author: Stefan Sudweeks
16 October 2013
The High Court dismissed a challenge to the earlier NSW Court of Appeal decision that a party could contract out of the NSW proportionate liability regime without expressly referring to the proportionate liability legislation.
Download PDF 621 KB
Author: JC van der Walt