2018/19 Annual Report
The Commercial Law Committee’s role is to report and make recommendations to the Law Society Council on commercial issues of significance to the Law Society and its members.
The Committee has representatives on the following liaison and working groups:
- Consumer Protection Liaison Group;
- ASIC Regional Liaison Group;
- Law Council of Australia, Business Law Section, Corporations Law Committee; and
- Law Society Working Group for the Royal Commission into Aged Care Quality and Safety.
Members of the Committee convened a number of meetings in order to obtain information and to prepare recommendations on a range of matters. They also attended a meeting with Mr Allan Bullman, Takeovers Panel who provided an update on the activities of the Takeovers Panel and considered issues raised by Committee members.
During the reporting period, the Committee considered a wide range of commercial issues and monitored legal developments and the progress of new legislation and reports in relation to a number of different subject areas, including:
- Financial Services Royal Commission and ASIC funding;
- Insolvency reform including ipso facto, safe harbour and illegal phoenix activity legislation;
- Modern Slavery legislation;
- the Directors’ Liability Reform Bill;
- ASX Listing Rule changes and continuous disclosure developments;
- Consumer Data Right Rules;
- National E-Conveyancing; and
- Technology issues and their impact on the legal profession and laws and legal system more generally.
Members of the Committee discussed and contributed to a submission by the Law Society to State Revenue regarding the State Administrative Tribunal decision of Crugnale v Commissioner of State Revenue  WASAT 8.
Members of the Committee made recommendations on continuous professional development seminars and events for practitioners, including a ‘Commercial Law Masterclass’ for the Law Society’s CPD Programme as well as identifying authors and articles for Brief and Friday Facts.
For more information about this committee please email General Manager, Advocacy – Mary Woodford, email@example.com