Commercial Law

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Privacy Law Update: A $1.7 Million Obligation

Friday, September 05, 2014

New laws have come into effect on 12 March 2014. The changes provide a new set of rules for businesses and organisations concerning the maintenance and recording of an individual’s personal information. Any businesses that do not meet the requirements of the act may face fines of up to $1.7 million for corporations or $340,000 for individuals.

The new laws define the ways in which the privacy of an individual must be handled. 

Some notable changes include:
  • focus on a person’s ability to access and change their personal information;
  • quality and accuracy of information collected;
  • use of information collected; and
  • disclosure of information collected.

Notably, there is an exemption that applies for some business operators which meet certain requirements. Contact us to find out more about the exemptions.

For companies that provide credit or deferred payments, a second set of rules relates to credit information obligations and the information that must be provided for credit reporting purposes.

For further information or to see how the recent legislation changes may affect your business, contact our commercial lawyers at Matthews Folbigg. Our offices are located in Parramatta.

Phillip Brophy – phillipb@matthewsfolbigg.com.au or 9635 7966

Laura Willis – lauraw@matthewsfolbigg.com.au or 9635 7966

Recent Federal Court decision spells disaster for bankrupt and his non-compliant self managed superannuation fund

Wednesday, September 03, 2014

The recent case of Coshott v Prentice [2014] FCAFC 88 highlights the importance of seeking legal advice to ensure that your self managed superannuation fund (SMSF) is compliant under the Superannuation Industry (Supervision) Act 1993 (Cth).

In this case, the Full Federal Court found that although a property was claimed to be held by a SMSF it was in fact beneficially owned by the bankrupt. Consequently, the property would be dealt with as being part of the bankrupt estate.

If you wish to ensure the protection of assets held in a SMSF the fund must operate as a compliant fund.  Contact Matthews Folbigg today to speak with a commercial lawyer about asset protection or to check the compliance of your SMSF.

Phillip Brophy – phillipb@matthewsfolbigg.com.au or 9635 7966 

Is your Self Managed Superannuation Fund compliant?

Wednesday, September 03, 2014

Our commercial law team at Matthews Folbigg strive to keep you up to date with the latest information and legal advice on self managed superannuation funds.

The Superannuation Industry (Supervision) Act 1993 (Cth) sets out a number of particular requirements which a self managed superannuation fund must meet in order to remain legally compliant.

As seen in the recent case of Cashott v Prentice [2014] FCAFC 88 it is extremely important that you seek legal advice not only upon the establishment of a self managed superannuation fund but also during the life of the fund, particularly when purchasing property. 

If you would like a commercial lawyer to review your self managed superannuation fund or would like more information on this area of law please contact us.

Phillip Brophy – phillipb@matthewsfolbigg.com.au or 9635 7966

Seeking Damages for Unauthorised Use of a Trade Mark

Wednesday, September 03, 2014

A recent Federal Court case has taught a valuable lesson in seeking damages as a remedy for infringement of a trade mark.

In the case of Halal Certification Authority Pty Limited v Scadilone Pty Limited [2014] FCA 614), the Halal Certification Authority sought damages under section 236 of the Competition and Consumer Act 2010 (Cth) ("the Act") against a wholesale distributer and a number of kebab shops for unauthorised use of a trade mark asserting that kebab meat used by the kebab shops was certified 'halal' meat.

Under the Act, compensation will only be awarded where actual damage for the alleged conduct can be proven. Halal Certification Authority was unable to satisfy the Court as to whether the meat in the kebab shops was or was not halal. Therefore, neither actual damage nor reduction the value of the trade mark was demonstrated and only nominal damages were awarded.

Our intellectual property and commercial lawyer team can assist in providing advice on trade mark infringement, and commercial remedies available for breach. Contact us today for more information.

Stephen Jenkins – 9635 7966 or stephenj@matthewsfolbigg.com.au


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