Regulatory action policies (including strategies and statements issued by regulators) are a useful tool for regulators to signal the importance of a particular regulatory area to the regulated sector and to the public at large. … Continued
The Notifiable Data Breaches scheme (Scheme) under the Privacy Act 1988 (Privacy Act) came into force on 22 February 2018. The Scheme applies to certain organisations and agencies with existing obligations to protect personal information … Continued
Introduction Following the successful passage of the Children Legislation Amendment (Information Sharing) Act 2018 (Act), Government departments, regulatory bodies, health and social service providers and education providers with responsibility for the wellbeing and safety of children … Continued
Regulatory frameworks that are based on core principles and standards have an important advantage over prescriptive frameworks – specifically, they are intrinsically flexible and capable of applying to a wide spectrum of regulated entities and … Continued
A new approach On 31 December 2017, a new body, Fines Victoria, was introduced for the collection and management of fines, including infringement and court fines (Fines), in Victoria. The regime has been introduced for … Continued
In the midst of the Royal Commission into Financial Services (Banking Royal Commission), our corporate financial services regulator – the Australian Securities and Investments Commission (ASIC) – is not escaping scrutiny. Much of the commentary … Continued
Introduction VC146 was approved by the Minister for Planning on 2 May 2018 and gazetted on 15 May 2018. It amends all planning schemes in Victoria, notably by: introducing a new overlay, the Infrastructure Contributions … Continued
On 8 May 2018, the Long Service Leave Bill 2017 (Vic) was passed after gaining the necessary support in the Victorian upper house. As a result, the Long Service Leave Act 1992 (Vic) will be … Continued
Foreign trusts should carefully consider if distributing capital gains to Australian resident beneficiaries remains a tax effective option. Foreign residents (including foreign trusts) do not pay capital gains tax (CGT) on some types of capital … Continued
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