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In Antitrust / Competition

Australia: Treasury releases proposed merger notification thresholds

by , and 3 Mins Read

On 30 August 2024, the Australian Treasury released a consultation paper on the proposed monetary and market share thresholds that will trigger a requirement to notify an acquisition to the Australian Competition and Consumer Commission (ACCC) under the Federal Government’s proposed new mandatory merger control regime. It is proposed that transactions which meet either of the thresholds must be notified to, and approved by, the ACCC, with penalties imposed for any failure to notify or for implementation of a notifiable merger without prior notification to the ACCC. The closing date for submissions is 20 September 2024.

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In Employment

Australia: Right to disconnect – Working 9 to [to be determined…]?

by , , and 9 Mins Read

A new workplace right – a ‘right to disconnect’ – has been introduced by the Fair Work Legislation Amendment (Closing Loopholes No. 2) Act 2024, with effect from 26 August 2024 (or 26 August 2025 for small business employers). On 23 August 2024, a Full Bench of the Fair Work Commission finalized the new “right to disconnect” model term, which will soon be inserted into all modern awards. Whilst we wait for the Fair Work Commission (FWC) to issue its guidance on the new workplace right, here’s what you should know, and what we think you should do to prepare for the introduction of the right to disconnect.

In Cybersecurity, Data and Tech

Australia: Online Safety – Statutory review issues paper and Pilot of Age Assurance Technology

by , and 2 Mins Read

On 29 April 2024, the Department of Infrastructure, Transport, Regional Development, Communications and the Arts opened public consultation as part of the ongoing independent statutory review (“Review”) of the Online Safety Act 2021 (Cth) (“Act”) with the release of an Issues Paper (“Issues Paper”). Public consultation will close on 21 June 2024, with the final report of the Review expected to be provided to Government by 31 October 2024.

In ESG

Australia: Federal budget 2024-25 – Key takeaways for the Energy Transition

by , , , and 9 Mins Read

As Australia transitions to net zero, the 2024-25 Australia federal budget handed down on 14 May 2024 contains significant initiatives relating to renewable energy, hydrogen, critical minerals, green metals, low carbon liquid fuels and clean energy technology, with the AUD 22.7 billion “Future Made in Australia” package as a centerpiece. Through new or additional incentives and other funding, the Australian Government aims to attract investment in key industries for the energy transition and make Australia “a renewable energy superpower” as well as add value to the resources sector, particularly critical minerals, and strengthen economic resilience and security.

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In Corporate Compliance

Australia: Changes to Australian Franchise Laws set for later this year

by , and 4 Mins Read

Our 16 February 2024 Client Alert reported on the recommendations of the Federal Government’s Independent Review of the Franchising Code of Conduct (“Code”). 

We noted that the recommendations were largely sensible and light touch and that the Review considered that the Code was generally fit-for-purpose.

The Government has now released its formal response, adopting the Review recommendations in full.

In Cybersecurity, Data and Tech

Australia: Public consultation on National Classification Reform

by , and 6 Mins Read

On 4 April 2024, the Minister for Communications opened consultation on significant and comprehensive stage two reforms to the National Classification Scheme (“Scheme”). The Scheme is comprised of a number of laws and regulatory instruments – together, operating as a regulatory framework for classifying films, certain publications and computer games under cooperative arrangements between the Commonwealth, and the States and Territories. In addition, the Scheme directly underpins the online content scheme in Part 9 of the Online Safety Act 2021 (Cth) (“OSA” ) and informs elements of the broadcast television self-classification requirements in place under industry codes of practice under the Broadcasting Services Act 1992 (Cth).

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In AML & Financial Services Regulatory

Australia: Long awaited buy now pay later reforms arrive

by , and 6 Mins Read

On 12 March 2024, the Australian Government released exposure draft legislation on Buy Now, Pay Later products (“BNPLs”) for public consultation. This follows the Government’s previous consultation on the regulatory framework for BNPLs, and growing calls to regulate the BNPL industry in order that these products might have similar or the same protections that exist for consumer credit products in Australia.

In Cybersecurity, Data and Tech

Australia: Australian Senate to establish Select Committee on AI – submissions close 10 May 2024

by , , , , , and 3 Mins Read

On 26 March 2024, the Australian Senate resolved to establish the Select Committee on Adopting Artificial Intelligence (“Committee”) to inquire into and report on the opportunities and impacts arising out of the adoption of AI technologies in Australia.
The Committee’s inquiry provides an important opportunity for Australian companies to shape the future direction of Australia’s AI-related regulatory reforms as the Government continues to formulate its position on the regulation of AI.

In Antitrust / Competition

Australia: Paving the way for a single mandatory suspensory merger control system

by , and 1 Min Read

On 10 April 2024, the Treasurer Dr Jim Chalmers MP announced a major change to Australia’s merger control regime with the introduction of a new single mandatory, suspensory merger control system. The Australian Competition and Consumer Commission (ACCC) will be the key decision maker and given stronger powers to examine transactions, including serial acquisitions and mergers by businesses with substantial market power. The notification thresholds remain a critical unknown piece and will be subject to further consultation.

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