On 22 June 2020, the Australian Federal Government passed legislation setting out a legal framework for the introduction of a Director Identification Number (DIN) regime for directors.
Byline: Daryl Lim
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In further recognition of the difficulties faced by companies in meeting strict corporate compliance requirements in a COVID-19 environment, the Treasurer released yesterday a ministerial determination permitting company general meetings to be held virtually and modifying the way companies can execute documents.
- ASIC has recently announced a one month extension for the lodgement of corporate reports
- Extension is available to unlisted entities.
There are new signs that the Australian property market is on the rebound. As the property market recovers, so does the credit market and companies will increasingly seek financing for their business. Financing may take many forms: revolving credit loans, loans to finance the acquisition of a target company, or construction loans, to name a few.
The Internet can offer consumers a convenient way to access therapeutic goods, but online purchases of prescription-only medicines can be extremely dangerous.
The Therapeutic Goods Administration (TGA), currently uses a standardised, risk-based international classification system (risk-based system) to assess and approve the use, consumption and implantation of medical devices in Australia. The same system is used in the United States, the European Union, the United Kingdom, Canada and Japan.
Since the launch of Bitcoin in 2009, more and more people have become aware of blockchain technology, and its potential to revolutionise payments systems. However, blockchain has many applications beyond cryptocurrency. ‘Smart contracts’ – computer code which execute the terms of an agreement have the potential to revolutionise commercial transactions.