Welcome to the first edition of the Addisons Corporate Bulletin for 2021.
In this edition we cover an eclectic mix of topics from the benefits of SAFEs; the recent and significant changes to the arrangements concerning the retirement of directors; the new consumer protection provisions of the NSW Fair Trading Act and the High Court’s finding that Westpac did indeed give personal advice to members of Westpac super funds.
Articles in this edition include:
Play it safe with SAFEs
This article raises some issues to be aware of with the popular start-up funding instrument, the Simple Agreement for Future Equity.
Click here to read
Important changes to directorship provisions in the Corporations Act
The new provisions ensure that the last remaining director of a company cannot retire without a replacement director being appointed.
Click here to read
Can a GameStop happen in Australia?
This article raises the interesting question: Can a GameStop happen in Australia? GameStop, a NY listed company, earlier this month saw heavy buying by small amateur investors which resulted in a surge in its stock price, which at the time was heavily short sold by hedge funds and other professional investors. Click here to read
Supplier beware – new disclosure obligations in NSW require supplier to be more transparent in their dealing with consumers
From 1 January 2021 the NSW Fair Trading Act has been amended to include new mandatory disclosure obligations in “consumer” contracts. Click here to read
It’s personal: the High Court’s finding against Westpac and what it means for financial advice providers
The High Court recently upheld the 2019 Full Federal Court’s decision that 2 Westpac group companies provided personal advice to members of Westpac super funds during phone calls to members about rolling over their super. Click here to read
We hope you enjoy this Bulletin. If you require further information or assistance, please contact your Addisons partner or a member of the Corporate Advisory team.
Liability limited by a scheme approved under Professional Standards Legislation.
© ADDISONS 2021. No part of this document may in any form or by any means be reproduced, stored in a retrieval system or transmitted without prior written consent.
This document is for general information only and cannot be relied upon as legal advice.