After a six month consultation period, the ASX has now finalised the biggest changes to its admission requirements for listed entities in over a decade, which come into effect from 19 December 2016. The changes are aimed at improving the integrity of the market operated by ASX and the reputation of ASX, which means that ASX now requires higher standards from those entities seeking to list on ASX.
With just one month to go before the Unfair Contract Terms regime is extended to apply to certain business to business contracts, have you taken the time to assess whether your contracts are at risk of being declared unfair?
ASX has released a Consultation Paper titled "Updating ASX's admission requirements for listed entities" setting out proposed Listing Rule and Guidance Note changes to ASX's admission requirements. ASX is seeking submissions by Friday, 24 June 2016 with a view for changes to come into effect on 1 September 2016, subject to regulatory approvals.
Legislation was introduced into Parliament on the very last sitting day for 2015 to provide a framework for and updates to crowd-sourced funding (CSF) legislation.
Late last month, the Small Business and Unfair Contract Terms Bill 2015 was passed by federal parliament.
In this edition, our Brisbane-based corporate and commercial lawyers cover key legal issues including identifying potential buyers for your business, the enforceability of agreements to negotiate contained in heads of agreement, term sheets and MOUs, and practical considerations for listed entities when dealing with major assets.