In this insight we review three cases, DTM Constructions Pty Ltd trading as QA Developments v Poole  QSC 210, REW08 Projects Pty Ltd v PNC Lifestyle Investments Pty Ltd  NSWCA 269, and Gonzalez v Agoda Company Pty Ltd  NSWSC 1133.
Businesses are increasingly using, developing and improving their ability to promptly respond to market conditions, innovate product offerings, and set prices using algorithms and artificial intelligence systems (AI).
A round up of key relevant legislation, enacted or proposed, over the last month including the Harper reforms to competition laws, consultation on whistleblowing reforms, the proposed strengthening penalties for corporate and financial sector misconduct, reforms to stop corporate avoidance of employee entitlements at taxpayers’ expense and exposure draft legislation to support innovation in financial services.
The IoT Alliance Australia has releasedGood Data Practice: A Guide for Business to Consumer Internet of Things Services for Australia. The Guide offers providers of Internet of Things services and devices a principles-driven framework for managing the data and information that flows through their products.
On 30 October 2017, ASX released a “bumper” update with details of Listing Rule changes that will take effect from 1 December 2017. The main changes relate to ASX’s new shareholder approval requirements for reverse takeovers and to provide guidance on ASX listing applications. In this insight we discuss the changes relevant to IPO market participants, to existing ASX listed companies and additional changes to ASX Listing Rules including in relation to medical cannabis listings and ICOs.
On 29 September 2017 the Corporations Amendment (Crowd-sourced Funding) Act 2017 (Cth) came into effect. The Act amends both the Corporations Act 2001 (Cth) and the Australian Securities Investments Commission Act 2001 (Cth) to establish a crowd sourced equity funding (CSF) regime, allowing eligible companies to raise money from a large number of investors who each make small financial contributions in exchange for equity.
ASX has released its Reverse Takeovers: Final Listing Rule Amendments to regulate the treatment of reverse takeovers. The implementation of the Final Listing Rule Amendments follows the release of ASX’s Exposure Draft Listing Rule Amendments on which we wrote in April.
The mining industry today faces multiple challenges, including a volatile global economy, a turbulent energy sector, and the impending exhaustion of commercially viable ore bodies. However, today’s technology also promises multiple opportunities for mining companies eager to meet these challenges head on and reimagine themselves in a digital age. Indeed, industry leaders are already forging ahead, combining information technology advances with a focus on new operational technologies.