Franchisors will need to be increasingly mindful of meeting their obligations under the Australian Franchising Code as a result of new and increased penalties which commence on 16 April 2022.
The Infocomm Media Development Authority and the Economic Development Board will pilot a Call for Application to construct three new data centres, after lifting a moratorium on new data centre projects in place since 2019. In line with Singapore’s climate change commitments, permits will only be granted for proposed data centres that meet a stringent set of energy efficiency criteria.
As announced in March in the opening hours of Blockchain Week by Minister Jane Hume, the Government released a consultation paper which proposes a new regulatory and licensing regime for ‘crypto asset secondary service providers’. This followed a call by Senator Andrew Bragg earlier that day for crypto reforms to be consolidated into a comprehensive legislative package (including a ‘Digital Services Act’), The main regulatory framework tabled could fall outside the existing Australian Financial Services licensing regime and focuses on the ecosystem of those who offer custody, storage, brokering, exchange and dealing services or operate a market in crypto assets for retail clients.
The Securities and Futures Commission recently released the Consultation Conclusions on the Proposed Regulatory Regime for Depositaries of SFC-authorised Collective Investment Schemes and the Further Consultation on Proposed Amendments to Subsidiary Legislation and SFC Codes and Guidelines to Implement the Regulatory Regime for Depositaries of SFC-authorised Collective Investment Schemes. Whilst many of the proposals from the 2019 original consultation will be adopted without change, the SFC has refined its approach in several key areas to provide greater clarity to the industry. We summarise the key requirements that will be applicable to RA 13 licensees, the Consultation Conclusions and the new proposals for consultation in the Further Consultation.
On 10 December 2021, President Rodrigo Duterte signed into law Republic Act No. 11595, otherwise known as ‘An Act amending Republic Act No. 8762 or the Retail Trade Liberalization Act of 2000, by lowering the paid-up capital requirement for foreign retail enterprises and other purposes.’ RA 11595 took effect on 21 January 2022.
Baker McKenzie’s Sanctions Blog published the alert titled Japan introduces further sanctions against Russia and Belarus on 21 March 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
Baker McKenzie’s Sanctions Blog published the alert titled Australia expands sanctions targeting Russia on 21 March 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
A recent development concerning the replacement of a Ministry of Trade export restriction with a Ministry of Finance progressive export levy may be an indication of the Indonesian Government’s intention to implement wider restrictions for exports in the near future. It is fair to say that Indonesia is welcoming the era of export restrictions.
Baker McKenzie’s Sanctions Blog published the alert titled Taiwan tightens trade with Russia on 12 March 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
Baker McKenzie’s Sanctions Blog published the alert titled Japan introduces further sanctions on Russia and Belarus on 14 March 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.