The Australian Securities and Investments Commission (ASIC) has taken the position that cryptocurrency investments are high-risk and speculative, and has warned consumers about the potential risks associated with investing in cryptocurrencies. ASIC has emphasized that cryptocurrencies are not legal tender and are not regulated in the same way as traditional currencies. This means that there continue reading
A company is an association incorporated under the Corporations Act 2001 (Cth) (the ‘Act’). The effect of incorporation gives the company a separate entity, distinct from its directors and shareholders. It can enter into contracts, sue and be sued in its own right. The Australian Investment and Securities Commission (ASIC) is the Government body authorised continue reading
The Subcontractors’ Charges Act 1974 (Qld) (Act) is a powerful piece of legislation that can be used to protect the interests of subcontractors as against higher-tier contactors. Despite this, the Act has a number of strict requirements as to how and when its protections can be used. Many entities misunderstand these requirements and subsequently lose continue reading
A company is an association incorporated under the Corporations Act 2001 (Cth) (the ‘Act’). The effect of incorporation gives the company a separate entity, distinct from its directors and shareholders. It can enter into contracts, sue and be sued in its individual right. The Australian Investment and Securities Commission (ASIC) is the Government body authorised continue reading
The collapse of Storm Financial Limited (Storm) occurred in the wake of the Global Financial Crisis of 2008 (GFC) and reads like a textbook cautionary tale for directors and officers. Background Emmanuel and Julie Cassimatis established Storm and at all relevant times held all shares in the company and were the only executive directors. Prior continue reading
In some circumstances, company directors may be held personally liable for company debt. Such circumstances include where a company owes monies to the ATO under the Pay As You Go withholding system (PAYG) and/or pursuant to its Superannuation Guarantee Charge obligations (SGC). In the event a company fails to pay any amount of PAYG and/or continue reading
