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Allens Insights

Winding back responsible lending obligations

The Government announced a simplification to Australia’s consumer credit regulatory regime, which has been widely reported as a ‘wind back’ or ‘axing’ of the responsible lending obligations (RLOs) under the National Consumer Credit Protection Act 2009 (Cth) (Credit Act). Learn more from our experts.

Reimagining Australian cities

Cities are always changing, but with 71% of our population now living in major cities,1 there is an increasing focus on how our cities will emerge from the pandemic and how we can provide the greatest social and economic benefits for all Australians. Hear more from our experts.

Nucleus: 01 Corporate law developments

Draft FIRB reforms released; ASIC Corporate Plan for 2020-24; RG5 and RG254; High Court sides with employers and clarifies personal/carer’s leave entitlements; ACCC releases ninth interim gas inquiry report; extension of temporary COVID-19 continuous disclosure and insolvency relief measures

Insolvency reforms to support small business

The Commonwealth government announced a package of reforms directed at streamlining insolvency processes for small business. Our analysis on the issue from our insolvency and restructuring experts.

E&S: Further changes to the JobKeeper scheme

The temporary amendments that were introduced to the Fair Work Act 2009 (Cth) (Act) in relation to JobKeeper enabling directions will be extended until 28 March 2021, by a bill proposed by the Federal Government that has now been passed by Parliament.

E&S: Franchisors – take notice!

The Federal Court has recently confirmed the ability of the Fair Work Ombudsman to require employers to hand over documents created before vulnerable worker legislation came into force.

E&S: Standing down employees during COVID-19?

Recent decisions of the Fair Work Commission provide valuable insights for employers considering standing down their employees to ensure the ongoing viability of their business during COVID-19. This Insight considers cases arising out of decisions to reduce employees’ working hours to zero.

In Touch: 02 Competition news

Continued coordination in response to the COVID-19 pandemic; int’l agreement for regulators to cooperate on cross-border investigations; Oscar Wylee penalised $3.5m; Pfizer’s Upjohn merger cleared with Mylan; ACCC examines competition in mobile apps market; and new Energy Tech Consumer Code

Unravelled: Super trustees and efficient, honest and fair

The Federal Court has made declarations that two superannuation fund trustees contravened ss912A(1)(a) (efficient, honest and fair obligation) and 1041H (misleading or deceptive conduct) of the Corporations Act, and s12DA (misleading or deceptive conduct) of the ASIC Act.

Post 2025 National Electricity Market Design

In March 2019, the COAG Energy Council requested that the Energy Security Board (ESB) consider whether any changes were required to the core National Electricity Market (NEM) framework in order to facilitate the technological shift towards a lower emissions electricity system.

Federal Court refuses to order policy disclosure

The Federal Court has refused an application by class action applicants seeking access to the respondents’ insurance policies. Unlike other recent decisions, in this case access was sought by relying upon the general powers under the Corporations Act for a shareholder to inspect the company’s books

Private parties in the UN

Recent complaints show how NGOs and civil society groups are using UN-level human rights grievance mechanisms as a growing part of their toolkit to influence corporate behaviour and seek remedy for allegedly affected parties.

ASIC issues hardship withdrawal relief

In response to the COVID-19 pandemic, ASIC has provided relief reminiscent of the GFC to allow hardship withdrawals from frozen funds.  The COVID-19 version of hardship-relief goes further than its GFC predecessor in many respects. We provide an overview of the issue.