201804.01
0

Sophisticated and Professional Investors – What are they?

The Corporations Act 2001 (Cth) (“The Act”) in s708(8) states that an offer of shares does not need a disclosure statement if the investor is a sophisticated investor. The Corporations Regulations 2001 (“The Regs”), Reg 6D.2.03 goes on to advise that a sophisticated investor is one with assets of $2.5m, gross income of $250,000 and…

201804.01
0

VBA Show Cause process

From 1 September 2016, the VBA introduced a show cause process to replace the existing Building Practitioner Board (BPB) disciplinary process. The new process allows the VBA to take disciplinary action against a registered building practitioner (a practitioner) where it “reasonably believes” that one or more of the grounds set out under section 179 (1)…

201804.01
0

Is it a Penalty Clause?

Is it a Penalty Clause? Is someone trying to hold you liable for breaching a clause which you believe may be a penalty? Many commercial contracts have clauses that stipulate compensation in the event that a contractual term or an obligation is breached. The general rule is that if the clause is a liquidated damages…

201608.30
7

Building Legislation Update – What you need to know!

A large percentage of Victorian domestic building projects are completed to a high quality standard. There are however reported instances when things do go wrong, and when they do, it is predominantly the consumers that are left to suffer the consequences. It is for that very reason that the Victorian Government has passed the Building…

201608.26
1

To Reverse Takeover or not?

Picture the scenario where a thriving private company aspires to be listed on a stock exchange, but at the same time does not want to resort to an initial public offering (IPO). An often considered alternative to this lengthy ordeal is the process of a Reverse Takeover (RTO), which is a type of merger that…

201608.26
3

Is a family member claiming an interest over your family land?

The principle of indefeasibility (the State guarantee as to ownership of land) applies only to Torrens title land. Ownership of Old System title is certain only if another person with a better claim cannot be established. Adverse possession is a legal principle that enables a trespasser (or adverse occupier) who has been allowed uninterrupted and exclusive…

201511.06
1

Your Payment Claim and Schedule Must Match Your Adjudication Documents

In the case of Leighton v Arogen [2012] NSWSC 1323, Arogen was subcontracted by Leighton to supply horizontal directional drilling services. Arogen delivered a payment claim to Leighton in excess of $6.2 million. Leighton disputed this amount and therefore Arogen filed an adjudication application seeking to obtain a determination that Leighton owed it $6.2million. Pursuant…

201511.06
1

You are liable for third party content on your social media outlets

Many companies now have their own Facebook page or Twitter account and use the same for marketing, branding and advertising its product and services. Nevertheless, these social media outlets can become a legal liability if they are not properly monitored. The Advertising Standards Board has held that the Advertiser Code of Ethics and Australian Consumer…

201511.06
1

The Tax Benefits of Venture Capital Fund Limited Partnerships

The Federal Government provides generous tax relief for funds registered as Early Stage Venture Capital Limited Partnerships (ESVCLPs) and Venture Capital Limited Partnerships (VCLPs). These are governed by the Venture Capital Act 2002 and Income Tax Assessment Act 1997. Who should apply? For VCLPs: fund managers seeking to raise a new venture capital fund of…