From 1 July, the min. amount a creditor must be owed by a debtor company before they can issue a creditor’s statutory demand will increase to $4,000
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On 1 June 2021, the Federal Government released amendments to the Franchising Code of Conduct (the Code).
The amended Code will place heavier burdens on Franchisors in an effort to level the playing field for Franchisees.
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The temporary relief which allowed companies to hold meetings virtually during the COVID-19 pandemic lapsed on 21 March 2021. While it was anticipated that Parliament would extend those measures, this has not happened.
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The temporary COVID-19 measures that modified the Corporation Act 2001 (Cth) (Corporations Act) to allow for the electronic signing of documents and split execution under section 127 of the Corporations Act 2001 (Corporations Act) by companies have expired.
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From 18 February 2021, companies can no longer remove the last remaining director on the Australian Securities and Investment Commission (ASIC) records without replacing that appointment with another director, unless certain specific exceptions apply.
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The Fair Trading Act now requires that businesses take "reasonable steps" to ensure that consumers are aware of the "substance and effect of any term or condition relating to the supply of the goods or services that may substantially prejudice the interests of the consumer".
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The ACCC has again displayed its appetite for enforcing the law when it comes to unfair contract terms.
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Do you have residential property held in a company or a unit trust and you don't want to pay the foreign person land tax or duty surcharges? - read on…
While there has been a lot of focus from law firms on the need to amend trust deeds for discretionary trusts that own residential land in NSW, little attention has been paid to the impact of the measures on a company or unit trust where a discretionary trust owns shares or units in the company or unit trust.
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On 7 September 2020, the Australian Government announced that the temporary insolvency relief measures introduced on 24 March 2020 would be extended until the end of the year.
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