Smart contracts, which are computer protocols intended to digitally facilitate, verify or enforce the negotiation or performance of a contract have the potential to radically change the way in which parties interact by allowing the safe performance of transactions without the need for a third party intermediary using blockchain technology.
What is blockchain?
Distributed Ledger Technologies (DLT)
DLT is a decentralised ledger of transactions with identical copies maintained on multiple independent computer systems. This means the transaction ledger is maintained simultaneously across a network of unrelated computers or servers called “nodes”, like a spreadsheet that is duplicated thousands of times across a network of computers.
In a recent decision involving the cash-in-transit industry, the full bench of the Fair Work Commission upheld a decision to reinstate an armoured vehicle operator (AVO) after his successful unfair dismissal application.1
Recent amendments to the PBR Act have strengthened PBR rights and have aligned aspects of PBR with other intellectual property laws in Australia.
Changes to deductions for non-compliant payments to workers
From 1 July 2019, businesses will lose their deductions for payments to employees if no pay as you go (PAYG) withholding amount is withheld and reported to the ATO.
The Federal Court recently handed down its decision in Calico Global Pty Ltd v Calico LLC1. This decision highlights the potentially fatal consequences of not updating the IP Australia register to reflect a change in trade mark ownership.
The Workplace Gender Equality Agency (WGEA) has named Hall & Wilcox as an Employer of Choice for Gender Equality (EOCGE).
Between January and April this year, the State Revenue Office (SRO) will send close to 500,000 land tax assessment notices to owners of real property in Victoria.
Leading Australian law firm Hall & Wilcox has advised Arena REIT on its recent acquisition of three specialist disability housing properties in Adelaide for $23.95m. The three properties, in Salisbury, Kingswood and North Adelaide, are leased on a long term basis to SA disability care and rehabilitation services provider SACARE.
Funds and financial products
Royal Commission fallout
On 18 February, the Commonwealth Treasurer, Josh Frydenberg, issued a media release setting out the Commonwealth Government’s actions since the release of the final report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.