Welcome to the latest update from Gilbert + Tobin's Corporate Advisory team.  The update provides a summary of key recent legal developments, particularly relevant to in-house counsel.

In this issue, you will find:

Legislation and proposed legislation

• Government consults on measures to increase transparency of beneficial ownership of companies
• Government consults on exposure draft legislation to implement an ASIC industry funding model
• State Economics Legislation Committee tables its report on the Competition and Consumer Amendment (Misuse of Market Power) Bill 2016
• Government signals potential review of section 631(2)(b) of the Corporations Act relating to the ability to fund a takeover bid once publicly proposed
• Government consults on water entitlement registration rules

Tax

• Stapled structures under the spotlight
• Foreign resident CGT withholding tax and public market transactions
• Bills to combat multinational tax introduced

Other

• Government releases Carnell report into banking practices

Other G+T publications

• Mandatory data breach reporting arrives in Australia

Cases

• Clarification of the meaning of ‘managerial or executive office’ for the purposes of the termination payments regime: Nichol v Discovery Africa Limited [2016] FCAFC 182