With so much trade between China
and Australia the question arises of how to resolve disputes when agreements are
breached.
Many commercial agreements now
include arbitration provisions for resolving disputes.
Disputes between Chinese companies and
their Australian counterparts may be subject to the United Nations Commission
on International Trade Law (UNCITRL) and its arbitration rules.
Where contracting parties have an
arbitration clause in their agreement and a dispute arises the parties submit
to arbitration and an award is made.
Once...
Sunday, 24 July 2016
Thursday, 21 July 2016
Our China Conveyancing Team Expands
We are delighted to announce the appointment of Peter
(Chi-Yuen) Pang and William Spencer-He to our China
Conveyancing Team.
Peter and William are experienced Australian trained lawyers
and will add further depth to our expanding China Conveyancing Practice.
Peter has previously acted as an Academic Advisor for the
China Law Society for a period of over 8 years, prior to that Lecturing at
various Universities in Hong Kong and Australia.
William has acted as a Solicitor at various practices in
Victoria. Prior to this he has...
Tuesday, 19 July 2016
Changes to SMSF “Safe Harbour” Guidelines
In an earlier article this year we mentioned the ATO’s
Practice Compliance Guideline 2016/5 on what constitutes arm’s length borrowing
terms for limited recourse borrowing arrangements (LRBA).
PCG2016/5 sets out the “Safe Harbour” terms on which SMSF
trustees may structure their LRBA’s consistent with an arm’s length dealing.
For existing LRBA’s with related parties, PCG2016/5 states
that the ATO will not select an SMSF for income tax review for the 2014-15 year
or earlier years in certain circumstances provided that the SMSF entered...
When is FIRB approval required for the purchase of Australian commercial land?
There is much
interest from offshore investors, or foreigners living in Australia on a
non-permanent basis, in buying Australian commercial land, often for
redevelopment or to enjoy an existing rental income stream.
For a foreign
purchaser (individual or corporation) of Australian residential property, they must
obtain the approval of the Australian Government's Foreign Investment Review
Board (FIRB) before signing a
contract of sale. However, a foreign
purchaser buying commercial land, FIRB approval is not always required. ...
Friday, 15 July 2016
Due Diligence and IPO’s
On 14 July 2016 ASIC released Report 484 “Due
Diligence Practices in Initial Public Offerings”. The Report outlines ASIC’s key findings from
its review of due diligence practices of issuers of securities in relation to
twelve initial public offers (IPO’s). The Report is designed to help issuers of
securities, their directors and advisors to conduct effective due diligence.
Due diligence practice is the process issuers adopt to comply
with their obligations under Part 6D.2
of the Corporations Act 2001 (Cth)...
Sunday, 10 July 2016
Landlords and Essential Safety Measures
We
often receive enquiries from landlords and tenants concerning essential safety
measures obligations and whether it is the landlord or the tenant who must
comply with those obligations.
Essential
safety measures (ESM) are defined in Part 12 of the Building and
Regulations 2006 (Vic) and are essentially a broad range of obligations
ranging from sprinkler and air-conditioning systems, fire extinguishers, exit
signs and compliance inspection, reporting and maintenance.
Until
May 2015 there was much confusion in the property industry over...
Wednesday, 6 July 2016
Liquor Licensing and changes of directors and shareholders of Licensees
Quite often we are engaged to assist with the
purchase of a licensed business which usually occurs by way of a sale by a
licensed vendor of its business assets to a purchaser which is accompanied by an
application to transfer the liquor licence to the purchaser.
Where
the licensee is a corporation, an alternative method exists for effecting the
sale of the licensed business, which involves the sale of shares in that
corporation to the purchaser and a change of directors of that
corporation. This method does not require an application...
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