The Liability of Corporate Groups. The importance of a re-examination of the rules of limited liability has been demonstrated in many recent cases of corporate wrongdoing and collapse. This has been highlighted by the restructuring of the James Hardie Group of companies, the conscious aim of which was the decision to free the group of its asbestos liability 'legacy'. Were it not for government intervention, thousands of persons injured by asbestos products would have gone without compensation. ....The Liability of Corporate Groups. The importance of a re-examination of the rules of limited liability has been demonstrated in many recent cases of corporate wrongdoing and collapse. This has been highlighted by the restructuring of the James Hardie Group of companies, the conscious aim of which was the decision to free the group of its asbestos liability 'legacy'. Were it not for government intervention, thousands of persons injured by asbestos products would have gone without compensation. One means by which such unfairness can be avoided is by reform to the rules of limited liability. This project will explore the means by which this could be achieved.Read moreRead less
One Day, We'll All Invest This Way! Regulating Online Investment. This project will provide policy recommendations to promote national research priority 3: particularly goals 4 & 5. It will do this by using good regulation to increase the safety of online investing services. It will bring to Australia international expertise not available here, crucial to good regulation of online investing. If investors trust this mostly beneficial technology it will further Australians' prosperity through in ....One Day, We'll All Invest This Way! Regulating Online Investment. This project will provide policy recommendations to promote national research priority 3: particularly goals 4 & 5. It will do this by using good regulation to increase the safety of online investing services. It will bring to Australia international expertise not available here, crucial to good regulation of online investing. If investors trust this mostly beneficial technology it will further Australians' prosperity through investment e.g. for retirement. Competitive advantage through good regulation will bring overseas investors to Australia through the Internet. It will consolidate its role as a financial centre. With 51% of adults owning shares, this research could save Australians more than $1.6 billion per annum! Read moreRead less
Legal Origins: The Impact of Different Legal Systems on the Regulation of the Business Enterprise in the Asia-Pacific Region. This project will locate Australia and several major countries in our region within a highly influential international scholarly debate about appropriate forms of business regulation. It will contribute to domestic policy-making debates about the most effective legal methods for promoting an innovative and productive economy, especially in the areas of corporate and labou ....Legal Origins: The Impact of Different Legal Systems on the Regulation of the Business Enterprise in the Asia-Pacific Region. This project will locate Australia and several major countries in our region within a highly influential international scholarly debate about appropriate forms of business regulation. It will contribute to domestic policy-making debates about the most effective legal methods for promoting an innovative and productive economy, especially in the areas of corporate and labour law. It will also enable Australian policy makers to participate in international policy reform debates facilitated through international institutions. In particular, it will enhance Australia's capacity to understand and contribute to the establishment of better legal systems in our region, enhancing important trading and strategic relationships.Read moreRead less
Defining, regulating and taxing the not-for-profit sector in Australia: Law and policy for the 21st century. The not-for-profit sector is crucial to the economy and social inclusion in Australia. The sector's role and significance is growing but it struggles with complex and disparate taxation requirements and piecemeal supervision by state and federal governments. This project addresses both the needs of the sector and public expectations of it by comprehensively researching legal definition, r ....Defining, regulating and taxing the not-for-profit sector in Australia: Law and policy for the 21st century. The not-for-profit sector is crucial to the economy and social inclusion in Australia. The sector's role and significance is growing but it struggles with complex and disparate taxation requirements and piecemeal supervision by state and federal governments. This project addresses both the needs of the sector and public expectations of it by comprehensively researching legal definition, regulation and tax rules and recommending appropriate reform, thereby making a significant contribution to National Priority Research area, Promoting and Maintaining Good Health and Well Being, Priority Goal 4, 'understanding and strengthening key elements of Australia's social and economic fabric'.Read moreRead less
Employee Share Ownership Plans: Current Practice and Regulatory Reform. National Priority Research Goal: Fostering and Innovative Culture and Economy.
Employee Share Ownership Plans (ESOPs) are important to the development of an economic culture of enterprise and innovation and the building of national wealth and savings in response to long-term demands of intergenerational equity. ESOPs require development through appropriate regulatory frameworks. This project will subject the existing reg ....Employee Share Ownership Plans: Current Practice and Regulatory Reform. National Priority Research Goal: Fostering and Innovative Culture and Economy.
Employee Share Ownership Plans (ESOPs) are important to the development of an economic culture of enterprise and innovation and the building of national wealth and savings in response to long-term demands of intergenerational equity. ESOPs require development through appropriate regulatory frameworks. This project will subject the existing regime of tax, corporate and labour law to technical and empirical scrutiny. This will enahnce the capacity of policy makers to evaluate and identify appropriate regulatory techniques to ensure the growth of efficiency of ESOPs at the national and enterprise level.
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The Subversion of Contemporary Performance-Based Pay - A Comparative Australian-US Study. The key national benefit from the project will be the development of a more informed basis for analysing, and making policy and regulatory decisions about executive remuneration, which is a matter of great community concern in Australia. The project will assess key provisions in Australian and US executive contracts, providing important comparative information about the structure and operation of performan ....The Subversion of Contemporary Performance-Based Pay - A Comparative Australian-US Study. The key national benefit from the project will be the development of a more informed basis for analysing, and making policy and regulatory decisions about executive remuneration, which is a matter of great community concern in Australia. The project will assess key provisions in Australian and US executive contracts, providing important comparative information about the structure and operation of performance-based pay schemes. The project will also examine whether systemic problems exist in executive remuneration, The results will assist policy analysts in identifying directions for legal reform, to address problems of non-alignment of interests in executive remuneration, thereby achieving fairer outcomes. Read moreRead less
Safeguarding the financial well-being of Australians by improving financial literacy: Implications for consumer protection laws. The project will contribute to a broader understanding of the role of financial literacy in Australia and its relationship with Australia's financial services and consumer protection laws. Having financially literate consumers facilitates the uptake and development of innovative financial products. This is essential for promoting an innovation culture and economy. High ....Safeguarding the financial well-being of Australians by improving financial literacy: Implications for consumer protection laws. The project will contribute to a broader understanding of the role of financial literacy in Australia and its relationship with Australia's financial services and consumer protection laws. Having financially literate consumers facilitates the uptake and development of innovative financial products. This is essential for promoting an innovation culture and economy. Higher levels of financial literacy also enable consumers to plan better for their and their families' financial well-being. This also has national benefit as it means that consumers are better prepared to deal with the adverse financial consequences of job-loss, illness, disablement or death, thus reducing the stresses and demands on Australia's social welfare safety net.Read moreRead less
A new legal framework for identifying and reporting Australian data breaches. A data breach reporting mechanism will provide security and economic benefits for Australia. One aim of such a mechanism is to enable law enforcement agencies to discover identity crime threats arising from data breaches. Enhanced reporting will lead to more information sharing which will lead to enhanced detection. The reporting mechanism will be built with the needs to Australian business at its heart to encourage re ....A new legal framework for identifying and reporting Australian data breaches. A data breach reporting mechanism will provide security and economic benefits for Australia. One aim of such a mechanism is to enable law enforcement agencies to discover identity crime threats arising from data breaches. Enhanced reporting will lead to more information sharing which will lead to enhanced detection. The reporting mechanism will be built with the needs to Australian business at its heart to encourage reporting. In turn, this will enhance consumer confidence through enhanced governance regarding the handling of personal information. The research will cement Australia's reputation as an advanced technological jurisdiction that can incorporate the security requirements of technical development. Read moreRead less
Venture capital (VC) and tax expenditure programs - an international comparative analysis of legal structures and benefits. VC investment is an important catalyst for economic growth. Many governments, including the Australian government, have designed schemes to encourage VC investment. This project compares VC schemes that exist in OECD and ASEAN countries. It will focus on "tax expenditure programs" and will analyse their legal structures and benefits. The results will be used to benchmark Au ....Venture capital (VC) and tax expenditure programs - an international comparative analysis of legal structures and benefits. VC investment is an important catalyst for economic growth. Many governments, including the Australian government, have designed schemes to encourage VC investment. This project compares VC schemes that exist in OECD and ASEAN countries. It will focus on "tax expenditure programs" and will analyse their legal structures and benefits. The results will be used to benchmark Australia's main VC schemes - the "PDF program" and "VCLP scheme". The research is designed to discover insights into alternative ways of stimulating VC investment as well as suggest areas for potential law reform and structural change. Findings will be published in refereed journal articles and an independent report provided to the Australian Government.Read moreRead less
Partnerships at Work: The Interaction Between Employment Systems, Corporate Governance and Ownership Structure. This project examines the interaction of key factors seen to be of paramount importance in the creation and sustainability of 'Partnerships at Work'. These include particular employment systems, forms of corporate governance and ownership structures of enterprises. The circumstances in which partnership models arise, the pressures faced in maintaining them, and the role of the regulato ....Partnerships at Work: The Interaction Between Employment Systems, Corporate Governance and Ownership Structure. This project examines the interaction of key factors seen to be of paramount importance in the creation and sustainability of 'Partnerships at Work'. These include particular employment systems, forms of corporate governance and ownership structures of enterprises. The circumstances in which partnership models arise, the pressures faced in maintaining them, and the role of the regulatory environment will be examined through case studies and the construction of a database. It involves collaboration between senior scholars in corporate law and labour law. The project will enhance the capacity of governments, enterprises and stakeholders to review employment practices, governance structures and regulatory models.Read moreRead less