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...
Traditionally it has been perceived that a lack of familiarity by foreign investors with the trust based structure of Australian managed investment schemes has been a significant barrier to attracting offshore investment in Australian funds. To combat this, from 1...
A recent case decided by the High Court found that the lender of an asset-based facility acted unconscionably in making a loan available to the borrower and ordered that the loan and mortgage be set aside. Key Takeaways Lenders must carefully scrutinize the...
First mortgagee consent currently required in NSW Currently in New South Wales, if a lender wishes to register a second (or subsequent) mortgage on title it must obtain the consent of the first mortgagee on title. If a mortgage is not registered, the lender/mortgagee...
FINANCIAL SERVICES AFSL REGULATORY UPDATES COMING IN TO EFFECT 5 OCTOBER 2021 The Australian Securities Investment Commission (ASIC) has introduced a number of new rules and amended others as recommended by the Royal Commission into Misconduct in the Banking,...
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...
Key takeaways Dealing with AFCA complaints can be a costly, time consuming and daunting experience. Sound legal advice and in-depth knowledge of AFCA's process is a key success factor when facing complaints. Ensure AFCA has jurisdiction to hear a complaint, before...
Key takeaways: The Australian Prudential Regulation Authority (APRA) is ramping up regulations on climate–related risks and taking submissions for its new guidelines. The guidelines are not enforceable requirements, but it shows that regulators are pushing the...
Currently, due to the pandemic, there are a number of restrictions in place that make it impractical or undesirable for lenders to recover outstanding debts. These protections will expire in September 2020, which will place additional pressure on borrowers to meet...
ClarkeKann’s commitment to delivering solution-based outcomes for our clients remains at the centre of our offering. Providing qualified, trustworthy, bespoke legal advice with a particular focus across our core areas of expertise; Agribusiness, Intellectual Property...
By Kate Gardner and Suzette Caldaroni Last year Australia passed legislation to allow certain companies to access crowd-sourced funding (CSF). The CSF regime allows companies to raise funds from retail investors, the so-called ‘mum and dad’ investors, of up to $10,000...
A recent NSW Supreme Court decision in the matter of OneSteel Manufacturing Pty Limited (administrators appointed) [2017] NSWSC 21 (“the decision”) has stressed the importance of registering security interests correctly. In this case, Alleasing P/L (“Alleasing”)...