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Business Contracts-Advice

Fairness and good business: a year of Unfair Terms

Fairness and good business: a year of Unfair Terms

It’s been over a year since the Australian Consumer Law provided that terms that are ‘unfair’ in new or renewed consumer and small business contracts could be deemed void and unenforceable.

CHANGE TO PPS LEASE DEFINITION MAY SAVE TIME AND MONEY FOR SMALL BUSINESSES

CHANGE TO PPS LEASE DEFINITION MAY SAVE TIME AND MONEY FOR SMALL BUSINESSES

On 19 May 2017, legislation amending the meaning of PPS Lease under the Personal Property Securities Act 2009 (Act) received royal assent and is now law. The new law, means that indefinite leases and leases of less than two years, are no longer required to be registered on the Personal Property Securities Register (PPSR).

The PPSR

Cessation of statutory protections for migrated security interests on the PPSR

Cessation of statutory protections for migrated security interests on the PPSR

Under the Personal Property Securities Act 2009 (Cth) (the Act), securities and charges under other legislation and registers were migrated onto the Personal Property Securities Register (PPSR). Many migrated securities were not registered in accordance with the Act’s registration requirements.

DOES YOUR BUSINESS NEED A PRIVACY POLICY IN PLACE?

DOES YOUR BUSINESS NEED A PRIVACY POLICY IN PLACE?

To help you determine if your business legally requires a privacy policy under the Privacy Act, we have developed a simple flow chart for you to follow. If the answer is yes to any of the questions in the chart, a privacy policy should be prepared to ensure your business is not subject to penalties for non-compliance with the Privacy Act.

90 day “PPS Lease” Abolished

90 day “PPS Lease” Abolished

From today, 1 October 2015, the Personal Property Securities Act will no longer operate to automatically give rise to a security interest in serialised goods (e.g. motor vehicles, motorhomes, aircrafts etc.) that are leased or bailed for a term of less than 12 months.

This is in contrast to the now outdated law which provided that leases or bailments of serialised goods for a period of more than 90 days, automatically created a security interest in the goods in favour of the lessor or the bailor. This meant that a lessor or bailor had to register a security interest on the Personal Property Securities Register (Register) to protect their interest in the goods. 

Do your commercial documents work?

Do your commercial documents work?

It is an integral part of doing business to have the following documents in place:

Terms of trade
Credit Application
Guarantee and Indemnity

These documents generally provide a level of security for a business when providing goods or services on credit terms. This security is usually provided through the Personal Property Securities regime and/or by requiring a Guarantee and Indemnity from the directors of the customer.

Repair, replacement or refund - who decides?

Repair, replacement or refund - who decides?

In 2013 six different Samsung products were recalled due to the discovery of an electrical fault that could lead to the products catching fire.

As a consequence of the recall, Samsung was obliged, under the Australian Consumer Law (ACL), to replace the recalled products or provide a full refund.

Small business update: Good news for small business

Small business update: Good news for small business

There have been a number of legal developments in the small business sector which should be welcomed as wins for small business operators.  This alert provides a summary of three of those developments that are particularly relevant following the Australian Competition and Consumer Commission’s release of its Small Business in Focus report for the six months to June 2015.

What are the legal requirements for schools and data privacy?

What are the legal requirements for schools and data privacy?

Schools collect and receive personal and sensitive information on a daily basis. What are the legal requirements for managing and using this data? Much of the personal and sensitive information collected by schools is, of course, essential to their day-to-day running.

Sham charities rife in wake of Cyclone Pam

Sham charities rife in wake of Cyclone Pam

Sham charities established to take advantage of generous donors seeking to help victims of Cyclone Pam in Vanuatu have come to the attention of the Australian Charities and Not-for-profits Commission (ACNC)