All publications relating to ‘Corporate’
Directors’ Access to Company Books: Navigating Statutory & Common Law Requirements in Australia
To manage a company and discharge their duties, directors need access to company information. Tension between directors can arise about what access they can have to company books, particularly in the context of a dispute at board level. However, directors have statutory rights and common law rights to access company books. This…
ABRS’ Looming Director ID Deadline – Apply before 30 November 2022
The 30 November deadline for existing directors to apply for a director identification number (Director ID) is creeping closer – don’t get caught by ASIC penalties and make sure you apply in time. In June 2020, the Australian Government introduced changes to the Corporations Act 2001 (Cth) requiring all existing and new…
Meritas — An Introduction to Temporary Changes Affecting Businesses in Australia and New Zealand
Looking for business and legal guidance regarding COVID-19 updates and programs in Australia & New Zealand? This document has coverage across the region with member firms who are here to assist. Please visit any of the COVID-19 resource materials for more comprehensive updates. View here…
Should Australia adopt a Director Identification Number (DIN) requirement?
Should Australia Adopt a Director Identification Number (DIN) Requirement? On 13 February 2019, the Treasury Laws Amendment (Registries Modernisation and Other Measures) Bill 2019 was introduced to the Australian Parliament (Amendment Bill). The Amendment Bill proposed a director identification number (DIN) requirement as part of a suite of Government initiatives which attempt to…
Crowd-sourced funding extended to private companies
From 19 October 2018, private companies can seek finance through the equity crowd-sourced funding (CSF) régime that was previously open only to public companies. CSF is a mechanism (an online platform) that allows eligible companies to raise capital by offering securities (only new ordinary shares) in the company to a large number of…
Right to terminate contracts for insolvency
“Ipso facto” clauses are clauses which allow a party to terminate a contract if the other party suffers an insolvency event. These provisions are enforceable even if the insolvent party has otherwise continued to perform its obligations under the contract. Some important reforms came into force on 1 July 2018 which restrict the operation…
Establishment fees in private financing transactions
As the banks have tightened their lending criteria, we have been working with a number of private financiers who have increased their activity to satisfy the demand for debt finance in the SME market. Most lenders charge borrowers an establishment fee to help recover the costs of establishing a loan facility. The…
The Art of the Deal Sheet: 10 Key Negotiation Points
Deal sheets, terms sheets, heads of agreements, letters of intent, memorandums of understanding, deal memos – whatever you call them, these typically short and simple documents play a vital role in the direction and outcome of a corporate transaction. From our experience, when negotiating a potential deal and putting together a terms sheet for…
Equity Crowd Source Funding — Part 1: A basic primer
On 28 March 2017 the Corporations Amendment (Crowd-sourced Funding) Act 2017 (Cth) (Act) received Royal Assent, paving the way for crowd-sourced equity funding. What is Equity Crowd Source Funding? It is a mechanism (an online platform) that will enable eligible companies to raise capital by offering securities (only new ordinary shares) in…
Personal risks for directors in modern times
When I came back to the office after the holidays, I came across a couple of recent surveys of Australian directors which reveal some of the issues that most concern the people who run companies in this country in 2017. Regulatory and personal risks are always near the top of these lists, and…