Welcome to Edition 118 of Boardroom Brief. In this Edition, we cover: (i) ASIC’s first proposed use of its product intervention power; (ii) new laws to combat phoenixing; (iii) taxation reform; and (iv) ASIC’s proposed restrictions on the use of ‘stub-equity’ in control transactions.

Speaking recently at a business event in London, Treasurer Josh Frydenberg, in response to being asked whether he would introduce an equivalent of the UK’s patent box scheme, indicated that the Federal government was considering a patent box scheme.

In May 2019, we provided an update regarding the Victorian Supreme Court extending the requirement for strict technical compliance with notice provisions beyond guarantees (see G+T Insight). The Victorian Court of Appeal has overturned the trial judge’s decision, holding that courts will favour a ‘commercially sensible construction’.

The Australian Securities and Investments Commission (ASIC) has released its highly anticipated Consultation Paper 315 Foreign financial services providers: Further consultation (CP 315), which includes

The proliferation of technology, the growing interconnectedness of communities and the insatiable appetite for ultra-convenience appears to have spurred an explosion in investment in digital identity solutions across the globe.

Getting the Deal Through – Foreign Investment Review provides an overview of Australian governments’ powers to control and block foreign investment. It covers: