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The Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2024 (Bill) has been passed by Parliament. The Bill overhauls Australia’s anti-money laundering and counter-terrorism financing regime, and extends the regime to certain 'high-risk' services provided by lawyers, accountants, trust and company service providers, real estate professionals, and dealers in precious metals and stones.
Read MoreOn 14 August 2023, the Federal Court ordered Dell Australia Pty Ltd, a wholly owned subsidiary of US-based technology provider Dell Technologies Inc, (Dell) to pay a $10 million penalty for making misleading representations on its website about discount prices for add-on computer monitors.
Read MoreASIC has provided a stark reminder to directors and officers that they can be held personally liable for company conduct after ASIC commenced proceedings in the Federal Court against 11 current and formers directors and officers of The Star Entertainment Group Limited (Star).
ASIC is seeking penalties which attract a maximum fine of $1.05 million per breach as well as declarations and disqualification orders against the Star directors and officers.
Read MoreWhile businesses are starting to pay attention to the PPSA, many are not getting their compliance systems and processes right and are paying a (very expensive) price for getting it wrong.
Read MoreFrom 1 July 2019, the financial reporting thresholds for ‘large’ proprietary companies have increased. A proprietary company will be considered ‘large’ if it meets the new criteria conditions.
Read MoreThe second half of 2019 is set to be a challenging time for Australian businesses. Does the Coalition win at the 2019 Federal election guarantee business safety for the foreseeable future?
Read MoreThe serious consequences that follow a failure to comply with the Personal Property Securities Act 2009 (Cth) (PPSA) were highlighted in the recent decision of Ward CJ in Eq of the Supreme Court of New South Wales in Psyche Holdings Pty Limited[2018] NSWSC 1254 (Psyche Case)..
Read MoreWhat is a sale on a 'retention of title' basis?
It is a conditional sale. The supplier remains the owner of the goods being sold until the goods are paid for in full by the purchaser. This transaction is now deemed to be a secured transaction.
Read MoreThe Personal Property Securities Act 2009 (Cth) (PPSA) has been in effect for over 6 years, yet many businesses are still unaware of the existence and the wide-reaching impact of the PPSA.
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