Asia Pacific

Hire Car Damages

On 3 September 2019, the Supreme Court of NSW handed down judgment in three appeals which were heard concurrently. All three appeals dealt with a plaintiff’s entitlement to damages for a replacement vehicle hired following a motor vehicle collision.

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Social media in the dock: High Court view on employee’s tweets

On 7 August 2019, the High Court handed down a decision finding that a commonwealth employee’s employment was lawfully terminated due to disciplinary action taken against her for broadcasting anonymously more than 9,000 tweets which were critical of her then-employer (the Department of Immigration), other employees and government and opposition immigration policies generally. While the case has been the subject of some media comment and scrutiny, it is nonetheless worthwhile looking at some of the more interesting issues arising from the case.

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Esports arrests demonstrates broad reach of sports integrity laws

In late August 2019 Victorian and Western Australian police executed search warrants and arrested six people in relation to suspicious betting activity relating to esports matches.1 It is alleged that those arrested had arranged to throw matches in the popular esport Counter-Strike: Global Offensive (CS:GO).

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Union Cabinet approves proposal for review of FDI policy on various sectors

On August 28th, 2019 the Union Cabinet chaired by the Prime Minister Shri Narendra Modi approved proposal for review of the Foreign Direct Investment (“FDI”) policy. The proposed changes in the policy will result in easing the FDI rules for various sectors such as coal mining, contract manufacturing, single brand retail trading and media etc. Further, it is expected that the changes in the FDI policy will result in making India a more lucrative investment destination and accelerate the economic development and progress of Indian economy.  

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Talking Tax – Issue 169

Foreign income tax offsets on exempt income?

The Federal Court of Australia Full Court in the case of Burton v Commissioner of Taxation [2019] FCAFC 141 rejected the taxpayer’s appeal in relation to an earlier Federal Court decision to deny the taxpayer claiming the full foreign Income Tax Offset (FITO) available under section 770-10 of the Income Tax Assessment Act 1997 (Cth) (ITAA 1997).

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Public Law – Issue Five

In this edition of our newsletter for the public sector, you’ll find updates on a NSW council corruption inquiry and a landmark High Court ruling on Twitter free speech case, an interview with Daniel Simms from the City of Wanneroo and meet Partner Alison Baker, among other interesting articles.

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Financial Services in Focus – Issue 29

Funds and financial products

ASIC approves AFCA rule change enabling the naming of firms

On 26 August, ASIC stated it approved changes to the Australian Financial Complaints Authority (AFCA) Rules to allow the scheme to name financial firms in published determinations. The approval was given under section 1052D of the Corporations Act, which enables ASIC to approve a material change to the AFCA scheme on the request of AFCA.

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Hall & Wilcox advises on Australia’s first digital currency exchange token offer

Leading Australian law firm Hall & Wilcox is delighted to have advised Lex Exchange on Australia’s first digital currency exchange token offer, which included a world-first detailed tax disclosure.

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Bridging Visa A – a brief overview

It is common to come across overseas nationals in Australia during the recruitment process. While most would hold a ‘substantive’ visa (such as work, family, student, and tourist visa), hiring managers may also come across candidates holding a strange creature known as the ‘bridging’ visa.

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Shares With Differential Voting Rights in India – Amendments to The Regulatory Framework

In recent past, there has been a lot of debate around a proper regulatory framework being put in place to enable Indian companies issue shares with differential voting rights (“DVR(s)”) which would enable the promoters to continue retaining control over their companies. Pursuant to this ongoing debate, the Securities Exchange Board of India (“SEBI”) on March 20, 2019 issued a Consultation Paper on “Issuance of shares with Differential Voting Rights” for devising a structure for regulation of shares with DVR(s) under two broad heads, namely, issuance of shares by companies whose equity shares are already listed on stock exchanges; and companies with equity shares which have not been listed as on date but are proposed to be offered to public. Upon receipt of comments of the Primary Market Advisory Committee of SEBI and market participants including issuers and investors on the Consultation Paper, SEBI at its board meeting on June 27, 2019 approved a framework for issuance of shares with DVR vide a press release no. 16/2019.

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