202001.18
0

Importation of Medical Cannabis

The importation of medicinal cannabis is strictly regulated and is subject to international drug conventions. For such a product to be imported, it must be approved by both governments of the importing and exporting countries before shipment can occur. The importer must also hold a licence and a permit from the Office of Drug Control…

201911.02
0

Manufacturing of Medicinal Cannabis

To manufacture medicinal cannabis, the manufacturer must hold both an Office of Drug Control (ODC) licence and a permit. The licence is applied for under section 11G of the Narcotic Drugs Act 1967 (Cth), which authorises the manufacture of medicinal cannabis. Evidence of the ODC licence must be provided when applying for a permit. A…

201903.02
0

Hemp Cultivation

Hemp is a cannabis plant species that contains tetrahydrocannabinol (THC) and when the seed is used at high concentration, the ingredient has mind-altering and psycho-active effects. It may also be referred to as low-THC cannabis or industry hemp. It can be in either seed, oil or fibre form. Currently, it is legal in Australia to…

201805.02
0

Exportation of Medical Cannabis

The ability to export medicinal cannabis was legalised in February 2018. There are certain requirements that must be complied with and only certain types of medicinal cannabis products can be exported. An export licence and permit must also be held by the exporter. Preliminary Requirements In order to export medicinal cannabis, there are specific requirements…

201804.01
6

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…

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…