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Latest Case

Providing strategic advice on expansion structures November 16, 2018

Founded in Bondi Beach in 2012, Bailey Nelson has rapidly grown into a global eyewear retailer and service provider with boutiques in Australia, London, Canada and New Zealand. The strong demand for their products and … Continued

Latest News

Maddocks advises Kidman Resources on its successful $776 million scheme of arrangement September 12, 2019

Thursday 12 September The Federal Court has today approved the $776 million acquisition of Kidman by Wesfarmers by way of a scheme of arrangement. Maddocks has advised Kidman over its growth story, from tenement acquisitions, … Continued

Latest Article

New franchising disclosure document guidance – your document may not measure up September 18, 2019

Franchising in Australia is a sector under scrutiny. The sector has been digesting the content of the Fairness in Franchising report and the inter-agency Franchising Taskforce has been established. In the meantime, the Australian Competition … Continued

FIRB Reform Bill passed

The Foreign Acquisitions and Takeovers Legislation Amendment Bill 2015 (FATA Bill) (which is a rewrite of the current Foreign Acquisitions and Takeovers Act 1975 (Cth) (FATA)) passed through the Commonwealth Parliament on 23 November 2015.

The next step is for the FATA Bill to receive Royal Assent, which will ideally occur this week. The amendments to the FATA are expected to take effect from 1 December 2015.

There were some last minute amendments to the FATA Bill before it was passed. The main change was that the Register of Foreign Ownership of Agricultural Land Act 2015 (RFOAL) (which is awaiting Royal Assent) was amended to include a ‘sunset provision’. The RFOAL will cease to have effect at the end of 1 December 2016 unless an Act or provisions of an Act providing for a register of foreign ownership of water entitlements commences before that time.

The Foreign Acquisitions and Takeovers Fees Imposition Bill 2015 was passed by the Commonwealth Parliament on 11 November 2015 and is also awaiting Royal Assent.

The final piece of the puzzle is the Foreign Acquisitions and Takeovers Regulation 2015. These have been the subject of public comments. Any approval of the Regulations must wait until the FATA Bill receives Royal Assent.

However, it looks like all is well on track for a 1 December 2015 commencement date.

More detailed write-ups on the relevant changes will follow on specific topics.

The Foreign Acquisitions and Takeovers Legislation Amendment Bill 2015 (FATA Bill) (which is a rewrite of the current Foreign Acquisitions and Takeovers Act 1975 (Cth) (FATA)) passed through the Commonwealth Parliament on 23 November 2015.

The next step is for the FATA Bill to receive Royal Assent, which will ideally occur this week. The amendments to the FATA are expected to take effect from 1 December 2015.

There were some last minute amendments to the FATA Bill before it was passed. The main change was that the Register of Foreign Ownership of Agricultural Land Act 2015 (RFOAL) (which is awaiting Royal Assent) was amended to include a ‘sunset provision’. The RFOAL will cease to have effect at the end of 1 December 2016 unless an Act or provisions of an Act providing for a register of foreign ownership of water entitlements commences before that time.

The Foreign Acquisitions and Takeovers Fees Imposition Bill 2015 was passed by the Commonwealth Parliament on 11 November 2015 and is also awaiting Royal Assent.

The final piece of the puzzle is the Foreign Acquisitions and Takeovers Regulation 2015. These have been the subject of public comments. Any approval of the Regulations must wait until the FATA Bill receives Royal Assent.

However, it looks like all is well on track for a 1 December 2015 commencement date.

More detailed write-ups on the relevant changes will follow on specific topics.