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Crowd-sourced funding for proprietary companies: Differences between exposure draft and bill

The Corporations Amendment (Crowd-sourced Funding for Proprietary Companies) Bill 2017 (Bill) has now been introduced into Parliament. The Bill “sets out amendments to the Corporations Act 2001 (Corporations Act) to enable proprietary companies in Australia to access crowd-sourced equ
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Buying, selling and moving accident tow truck licences in Victoria

Obtaining an accident towing licence in Victoria is far more difficult than one might assume. The number of towing licences is fixed by the Minister for Roads, and with a sufficient number of licences currently operating, prospective purchasers are compelled to seek out a vendor of an
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Are you ready for the new Privacy Mandatory Data Breach Notification Regime?

The Privacy Amendment (Notifiable Data Breaches) Act 2017 (Cth) (Act) amends the Privacy Act 1988 (Cth) (Privacy Act) to introduce mandatory data breach notification provisions for organisations, agencies and certain other entities that are regulated by the Privacy Act (entities).[1]
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Cloud-Based Hosting Of Personal Details – What Are The Implications For Your Business?

With many companies now moving their data storage to the cloud, or considering the cost-saving benefit of doing so, it is important to be aware of the risks associated with contracting a company which uses overseas servers.  Concerns about ‘data sovereignty’ have increased in recent y
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Federal Government Amends Registration Requirements For PPS Leases: Minimum Duration Is Now 2 Years

The Federal Government has introduced changes to the Personal Property Securities Act (PPSA) with the enactment of the Personal Property Securities Amendment (PPS Leases) Act 2017. The amendments came into effect on 20 May 2017, and extend the minimum duration of the term of a lease o
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Land banking and primary production exemption from land tax – are they mutually exclusive?

At first thought, ‘land banking’ and primary production exemption from land tax would appear to be mutually exclusive. A landowner’s intention when land banking is to profit from future sale of its land, which is significantly different to the intention of a landowner that uses its la
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Selling a Business and the Transfer of Employee Entitlements

The sale of a business involves the transfer of particular assets of the business from the Vendor to the Purchaser.   This may include, amongst others, goodwill, plant and equipment, stock, intellectual property, licences, registrations, contracts and leases.   In addition to this, th
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Time Running Out To Rectify Security Interests in Personal Property

Holders of registered security interests in personal property are urged to check their registrations before 31 January 2017, as the final transitional period for the Personal Property Securities Register (PPSR) comes to an end. The transition to the PPSR The PPSR is an online register
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The Effect of Reinstatement on a Company’s Dealings

It is not uncommon that a company is deregistered by ASIC without the knowledge of the company’s directors. Deregistration will have a significant effect on the company and on the business carried out in its name during the period of deregistration. It is possible to reinstate a dereg
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Accident Towing in Victoria – A Review into the Industry

Accident towing licences are a scarce commodity, as the market to buy and sell them is highly regulated. It therefore comes as no surprise that licence holders were eagerly awaiting the release of a report into the industry, conducted by the Essential Services Commission Victoria (ESC
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