In the media
Discussion paper on dividend washing
The Government has released a discussion paper on ‘dividend washing’ that will form the basis of a consultation on the design, and implementation of this proposal. This reform will protect the integrity of Australia’s corporate tax system (03 June 2013)
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Administration of Charitable Trusts
CAMAC has released its report Administration of charitable trusts (May 2013). This report deals with administrative arrangements for charitable trusts managed by licensed trustee companies (LTCs). (30 May 2013)
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Published – articles, papers, reports
Secrecy Jurisdictions, the ASX100 and Public Transparency / Uniting Church in Australia
This report reveals 61 of the top 100 companies held subsidiaries in ‘‘secrecy jurisdictions’’ as of April 2011 that have been targeted by tax authorities for sheltering companies dodging tax (May 2013)
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Australian Share Ownership Study 2012 / ASX
The 2012 Australian Share Ownership Study, conducted in September – November 2012. This is the thirteenth in a series dating back to 1991 (May 2013)
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In practice and courts
ASIC: Updated Regulatory Guide 203 Do I need an Australian credit licence? (RG 203)
This guide has been updated to help new participants in the credit industry who are trying to decide whether they need to obtain a licence, and existing licensees and representatives who need to understand when certain exemptions can and can’t be relied on. These changes have been made to clarify the guidance included in RG 203 (29 May 2013)
Cases
In the matter of Rectron Electronics Pty Ltd [2013] NSWSC 610
EQUITY – equitable remedies – injunctions – injunction sought to restrain defendants from carrying out transactions on company’s bank account without consent – whether prima facie case or serious question to be tried – whether balance of convenience favours granting injunction – whether lesser relief appropriate.PROCEDURE – order sought for transfer of proceedings to Supreme Court of Victoria – whether the Jurisdiction of Courts (Cross-Vesting) Act 1987 (Cth) is applicable legislation – whether having regard to the interests of justice, it is more appropriate for the proceeding to be determined by another court – whether the court should exercise its discretion to transfer proceedings.
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Perfection Fresh Australia Pty Ltd & Ors v Melbourne Market Authority [2013] VSC 287
INJUNCTIONS – Interim injunction – Applicable legal principles – Unconscionable conduct alleged against a public statutory corporation – Whether conduct in “Trade or Commerce” – Whether proceeding justiciable – Whether any legal rights granted to Plaintiffs from an allocation of usable spaces in a new market -Whether Plaintiffs arguably have been granted a present, but limited, proprietary right to deal with their allocated spaces in new market premises controlled and managed by the defendant – A de facto monopoly of the Authority relevant to some of the non-exhaustive elements of unconscionable conduct found in s 22(2) of the ACL – Whether conduct of defendant in offering alternatives to the Plaintiffs in relation to their allocated spaces, but failing to provide critical information to enable them to make an informed decision as to which option to pursue, arguably amounts to unconscionable conduct – Balance of convenience – Interim injunction for a short time granted – Mediation of issues relating to the provision of information ordered.
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