Lawyers & Trademark Attorneys

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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Avoid suspension until re-compliance by announcing backdoor listing transaction

In May 2016, the Australian Stock Exchange (ASX) changed its policy on backdoor listings so that an entity’s securities will be suspended immediately from the announcement of a backdoor listing transaction. However, the ASX has now relaxed this policy change by allowing entities to av
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Crowd-Sourced Funding To Be Extended To Include Proprietary Companies

The Federal Government pursuant to its 2017 Budget intends to extend the legislative framework for crowd-sourced funding (CSF) by introducing a new Crowd-Sourced Equity Framework regime for proprietary companies.[1] Currently, the Corporations Amendment (Crowd-sourced Funding) Act 201
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ASX Admission Changes

In November 2016, the ASX released the Response to Consultation paper (Response Paper) updating their admission requirements for entities seeking to list on the ASX (Admission Requirements). This followed the release of the consultation paper ‘Updating ASX’s Admission Requirements for
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CORPORATE ALERT: Preference Shares Where No Preference Exists

CORPORATE ALERT: PREFERENCE SHARES WHERE NO PREFERENCE EXISTS In summary: The High Court confirmed that a company registered under the Corporations Act 2001 (Cth) (Corporations Act) can have members who hold preference shares constituting one hundred percent (100%) of its issued share
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Fortescue – v – ASIC High court clears fortescue metals and andrew forrest, asic slammed The High Court recently handed down its decision in Forrest v Australian Securities and Investments Commission [2012] HCA 39 where it allowed appeals by both Fortescue Metals Group Ltd (Fort
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