The Australian Federal Government is consulting on a new financial reporting requirement for public companies (listed and unlisted) to disclose information about their consolidated entities, including their country of tax domicile. The change will apply in relation to financial years commencing from 1 July 2023. Submissions can be made until 13 April 2023.

Australia’s new Register of Foreign Ownership of Australian Assets is expected to commence on 1 July 2023. Expanding on the existing registers for water interests and agricultural or residential land, the new Register will record foreign interests in a broader range of Australian land, entities, businesses and assets, with significant penalties for non-compliance.
Foreign persons who acquire relevant Australian interests, as well as some Australian entities that could become “foreign” due to ownership changes, may need to implement additional compliance processes to ensure they satisfy the new requirements.

A new Commonwealth Bill will modernize business communications by amending the Corporations Act to allow all documents under the Act to be signed electronically and most documents to be sent electronically. This is a welcome development building upon gradual progress in this area since mid‑2020. The Bill is expected to pass early next year.

We are pleased to announce that Baker McKenzie has published the FY23 edition of Directors Duties in Australia. This is a timely guide for directors of Australian companies, setting out pivotal issues for directors to consider in the current evolving corporate governance environment. Matters covered in the guide include common law and statutory duties, financial reporting, continuous disclosure, financial assistance, directors’ insurance and indemnities and other topical issues including climate change, cyber security and anti-bribery and corruption.

The 2021 edition of Duties and Liabilities of Directors of Australian Companies from Baker McKenzie is a timely guide for directors of Australian companies, setting out pivotal issues for directors to consider in the current evolving corporate governance environment. Matters covered in the guide include common law and statutory duties, delegation, financial reporting, continuous disclosure, financial assistance, directors’ insurance and indemnities and other topical issues including climate change, whistleblower protections and anti-bribery and corruption.

The 2021 edition of Duties and Liabilities of Directors of Australian Companies from Baker McKenzie is a timely guide for directors of Australian companies, setting out pivotal issues for directors to consider in the current evolving corporate governance environment. Matters covered in the guide include common law and statutory duties, delegation, financial reporting, continuous disclosure, financial assistance, directors’ insurance and indemnities and other topical issues including climate change, whistleblower protections and anti-bribery and corruption.

The 2021 edition of Duties and Liabilities of Directors of Australian Companies from Baker McKenzie is a timely guide for directors of Australian companies, setting out pivotal issues for directors to consider in the current evolving corporate governance environment.

Countries around the globe are facing unprecedented and rapid change due to the COVID-19 pandemic. The Government Intervention Schemes Guide provides a summary of key government intervention measures across jurisdictions around the globe in relation to: Foreign Investment Restrictions, Debt, Equity, Taxation, Insolvency, EU State Aid Approvals, where relevant.

The 2021 edition of Duties and Liabilities of Directors of Australian Companies from Baker McKenzie is a timely guide for directors of Australian companies, setting out pivotal issues for directors to consider in the current evolving corporate governance environment. Matters covered in the guide include common law and statutory duties, delegation, financial reporting, continuous disclosure, financial assistance, directors’ insurance and indemnities and other topical issues including climate change, whistleblower protections and anti-bribery and corruption.

Baker McKenzie’s Duties and Liabilities of Directors of Australian Companies is a comprehensive and timely guide for directors of Australian companies. Newly launched in September 2020, it reflects key issues for directors to consider in the current corporate governance landscape, while outlining their core legal obligations. Matters covered in this guide include…