Asia Pacific

Fourth Edition of the Consolidated FDI Policy Released by DIPP

The Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, Government of India (“DIPP”) on September 30, 2011 released the fourth edition of the consolidated FDI Policy of India vide Circular 2 of 2011.

As per the DIPP, some of the major revisions to the FDI Policy:

1.         Exemption to Educational Institutions and Old Age Homes – FDI in construction development activities with respect to educational institutions and old-age homes has been exempted from the conditions imposed on FDI in Construction Development Sector, viz. the minimum area and built-up area requirement; minimum capitalization requirement; and lock-in period.

The exemption has been granted with an intent to augment the physical infrastructure (with respect to educational institutions as well as old-age homes) and bring it up to global standards.

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Gadens to Welcome Aaron Gadiel as full-time Director in the PEG Team

As reported recently in the Australian Financial Review, Gadens is delighted to announce that Urban Taskforce Chief Executive Officer Aaron Gadiel has been appointed Director in the firm’s Planning, Environment and Government team, effective 31 October 2011.

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Out with the old and in with the new: Gadens’ Guide to State Significant Development in NSW (the replacement of Part 3A)

By Anthony Whealy of Gadens Lawyers, Sydney

We are now only days away from the start of critical new planning laws that will govern the assessment of all major development projects in NSW (State Significant Development), following the coalition government’s repeal of Part 3A of the Environmental Planning and Assessment Act shortly after the March election. Planning Minister Brad Hazzard recently said that he has already signed the new State Environmental Planning Policy (SEPP) and that it will commence this Saturday, 1 October. read more

 

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Benefits to first home buyers purchasing a newly constructed home

By Ros Forrest and Naomi Rothman of Gadens Lawyers, Sydney

With a focus on boosting new housing construction, the NSW Government recently released its Budget for 2011-2012.  read more…

 

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Security of payment alert: termination of building and construction contracts and the subsequent limitations on security of payment rights

By Scott Laycock and Stephanie Venuti of Gadens Lawyers, Sydney

The recent Queensland Supreme Court decision of Walton Constructions (QLD) Pty Ltd v Corrosion Control Technology Pty Ltd & Ors [2011] QSC 67 (Walton) arms respondents with an additional defence to payment claims and presents a new risk to claimants in further limiting their rights to pursue payment under security of payment regimes.  read more

 

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NCCP ACT amendments – hardship, leases, reverse mortgages, and small amount lending

NCCP ACT amendments – hardship, leases, reverse mortgages, and small amount lending

By Jon Denovan of Gadens Lawyers, Sydney

Amendments to the National Consumer Credit Protection Act 2009 are likely arising from the Consumer Credit and Corporations Legislation Amendment (Enhancements) Bill 2011(Cth) presented to the Commonwealth Parliament on 21 September 2011.  The key changes are summarised below.  The changes are intended to commence on 1 July 2012.

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Divide by three – APRA turns twelve prudential standards into four

Divide by three – APRA turns twelve prudential standards into four

By Greg Moss, Gadens Lawyers, Sydney

Following its December 2010 consultation package, the Australian Prudential Regulation Authority (APRA) has released four prudential standards, intended to consolidate 12 existing standards across the authorised deposit-taking, general insurance and life insurance industries. read more

 

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Life Sciences Update

Lessons from Wallace v Ramsay Health Care

By Jessica Kinny and Wendy Blacker of Gadens Lawyers, Sydney

A medical practitioner’s duty to warn their patient of the risks associated with a procedure is well known in the medical field and is supported by a clear and consistent line of authority[1].  Despite this, a common feature of medical malpractice is miscommunication with the patient.  read more

 

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Regulation & Compliance Update

KFS Regulations made and PPS commencement delayed

By Jon Denovan of Gadens Lawyers, Sydney

The Regulations for Home Loan Key Fact Sheets (KFS) were made on 1 September 2011.  Home loan lenders will generally need to provide KFSs from 1 January 2012.  In other news, it appears likely that the Personal Property Security Regime is likely to be postponed until 1 March 2012.  read more…

 

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Competition and Consumer Law Update

Competition and consumer news

By Merridy Woodroffe of Gadens Lawyers, Sydney

A week of interesting court decisions under the Competition and Consumer Act 2010 (Cth) (CCA).

  • Cartel whistleblower immunity does not necessarily confer anonymity
  • Narrow market definition stymies ACCC’s attempt to thwart Metcash bid for Franklins.  read more

 

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