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Focuses on the corporate rescue legislation implemented in Australia. Brief outline of the legislative procedure; Difficulties with a voluntary administration of the provision involving cross-border issues; Definition of company.

Australia has a long history of privately owned utility price regulation, one that is little known. This price control was designed to restrain the market power of several utilities (gas, rail, tramways, electricity, and water). The purpose of this paper, therefore, is to establish what types of price control that were used in Australia in the utilities sector before the First World War and to determine the degree to which this price control influenced efficiency. As price levels in this era were set in legislation, the lack of flexibility led to less-than-optimal outcomes, and eventually and led to new approaches were developed after 1912 to the utilities that remained in private ownership, and in some cases influenced the movement in Australia towards government control. [ABSTRACT FROM AUTHOR]

In March 2012, the Australian Commonwealth Attorney-General's Department published a Discussion Paper which explored the prospect of codifying or otherwise reforming the Australian law of contract. There is little reason to think that the codification of the Australian law of contract is likely to be embarked upon in the foreseeable future. At the same time, recent years have seen a resurgence of interest in codification in Britain. This paper examines the experience of contract codification efforts in Australia with a view to identifying a number of cautionary lessons. It focuses on two challenges inherent in contract codification which have been given too little attention by the proponents of reform in Australia. [ABSTRACT FROM AUTHOR]

Over time there has been some judicial confusion as to when objective surrounding circumstances may be taken into account to assist in the construction of terms. The nature of the objective approach has meant that on occasion, courts have shown a reluctance to look outside the four corners of the contract unless it is absolutely necessary to do so due to a textual ambiguity. The question is whether this reluctance is actually a necessary precondition to examining surrounding circumstances. The paper addresses the question of whether - or more accurately, 'to what extent' - evidence of surrounding circumstances is admissible as an aid to the construction or interpretation of contracts. The paper commences with an analysis of the true rule enunciated by Mason J in Codelfa Construction v State Rail Authority (1982) 149 CLR 337. The paper then demonstrates that by 2011, a series of construction contract appeal decisions had been handed down by the High Court that had not mentioned any need to satisfy the 'true rule'. The paper provides an analysis of how over time, most intermediate Australian appellate courts had assumed that it was no longer necessary to demonstrate ambiguity so as to provide a basis to admit evidence of surrounding circumstances at trial in order to assist the interpretation of the contract. Case such as Franklins Pty Ltd v Metcash Trading Ltd (2009) 76 NSWLR 603 and MBF Investments Pty Ltd v Nolan [2011] VSCA 114 will be examined to show that although the matter appeared settled, the divergence of Australian judgments ignited the debate once again and disagreement boiled over. Recent case law and the High Court's response is examined to show that although the High Court has retained the ambiguity gateway, its breadth is wide. The paper also argues for a further widening of the ambiguity gateway so as not to present an operative barrier to consideration of extrinsic material. [ABSTRACT FROM AUTHOR]

Price regulation of the utility sector occurs mainly at the wholesale level. In contrast, in Australian superannuation, regulation requires limited disclosure of fees and costs at the retail level. This paper reviews the regulatory theory that has led utilities regulators to focus on wholesale-level disclosure. It then applies the insights used in these sectors to analyse mechanisms for price and cost disclosure which could be applied to Australian superannuation. The paper argues that intervention done once, but done right, may reduce the need for mandatory retail-level disclosure and would reduce some aspects of regulatory information asymmetry. [ABSTRACT FROM AUTHOR]

Purpose – This paper seeks to provide the reader with a clear insight into the discussion over the voluntary aspect of corporate social responsibility (CSR) and the attempts to introduce regulatory reforms to control corporate activities within Australia. Design/methodology/approach – This paper evaluates the arguments regarding the need for CSR and the criticisms against its voluntary initiative, and analyses three proposed aspects for regulatory amendment in Australia: fiduciary duty, extraterritorial regulation and corporate disclosure. Findings – This paper recognises the attributes of both the mandatory and voluntary aspects, and suggests that there needs to be a balance between both mechanisms in order to achieve a positive outcome. Originality/value – Although, in Australia, amendment proposals have not been approved, the discussions over regulatory reform will continue. This paper will provide those involved in this field with an insight to the underlying issues over directors' duties, extraterritorial regulation and corporate disclosure. The understanding of these issues will be useful in the future development of appropriate mechanisms regarding CSR. [ABSTRACT FROM AUTHOR]

This paper addresses the development of CSIRO's intellectual property commercialisation from its beginnings in 1949 to 2006. The paper focuses on spinoff companies in commercialisation and the particular drivers, both economic and policy-based, that have led to particular patterns of commercialisation and spinoff formation over the years. Trends are analysed in three main periods, which correspond with particular policy approaches to CSIRO by its owner, the Australian Government: 1949-1983 (science focused, ad hoc commercialisation, little or no overt government influence); 1984-1996 (organisational commercialisation policies emerge, government sets external earnings targets); and 1996 - 2006 (more sophisticated organisational management of commercial interactions, government involvement in broad research priority setting and extensive grant schemes). Case studies illustrate the themes discussed. Successful commercialisation by CSIRO will require continuation of the careful approach to commercialisation that has evolved in the last 5 - 6 years. [ABSTRACT FROM AUTHOR]

The Trade Practices Act 1965 was widely criticised as being weak and unproductive. It was a significantly watered-down version of the original Bill overseen by Garfield Barwick. Although the final form of the Act was perceived as ineffective at the time, it is now viewed as an important step towards a national competition policy and a precursor to the opening up of the Australian economy. This paper outlines the economic, political and social background to the introduction of the legislation. We specify some of the factors that explain why its creation caused controversy and its importance in initiating change in Australians' attitudes towards collusive behaviour and economic protectionism. [ABSTRACT FROM AUTHOR]

This paper outlines the use of disclosure in the regulation of the franchise sector in Australia, demonstrating that it does not meet conditions considered necessary for effective informational regulation. First, there is not enough reliable information to gauge the risks in informing the design of regulatory process and the choice of tools; second, the information in the disclosure document is not uniformly reliable, accessible and useable; and, third, a franchisee's ability to act on the information is limited because the franchise contract is not subject to negotiation and there are limited alternatives in the market. As potential solutions, this paper proposes that increased cooperation among and fuller representation of stakeholders, better information from dispute resolution processes, and registration of disclosure would improve the level of information about the sector generally. To ensure reliable, accessible and useable information, the information that is required to be disclosed should be identified by all stakeholders, with assurance that it is provided in an accessible, useable way. Finally, educational initiatives are needed to enhance franchisees' ability to act on the information. This paper also briefly surveys some other regulatory tools used in the regulation of franchising, but urges that these tools be selected as part of a democratic and participative regulatory process that accurately represents the interests of all stakeholders. [ABSTRACT FROM AUTHOR]

The article argues on the success of any new criminal regime in discouraging serious cartel conduct in Australia, including support from the government, business sector and general public. It provides insights into the impetus for the criminalization initiative of the country on cartel conduct and discusses practical consequences for the effectiveness of the future regime. The author also highlights the need for caution in assuming the success of the anti-cartel law enforcement.

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This paper examines the fate and possible future of the clothing industry, which has been deeply affected by the Australian Labor Party's (ALP) programme of 'structural adjustment' and industry policy reform. The trade and industry development policy in Australia is evaluated by examining two influential 'industry development' reports: the Garnaut Report and the Pappas/Carter Report, the latter of which offers the mainstream challenge. Following an examination of the structure of the Australian clothing industry, the paper looks at the impact of the radical shift in government industry policy in the 1980s and considers and assesses the Industries Assistance Commision's TCF (Textile, Clothing, and Footwear) Plan, the key feature of which was the dismantling of the quota system. The effects of the imposed changes to the working practices and strategies of both the major and minor principals involved in the industry are examined and conclusions drawn as to the future plans open to producers to cope with possible new government policy. [ABSTRACT FROM AUTHOR]

Joint Ventures are often used by parties in commercial enterprises where parties seek to achieve a common goal. One issue which is increasingly contentious is the extent to which, if any, joint venture parties owe each other fiduciary obligations. This paper refutes, as a dangerous heresy, the idea that joint venture relationships are discrete legal relationships that are inherently fiduciary in nature. The majority of self-styled "joint ventures" are, invariably, nothing more in legal terms than contracts. If parties are going to be bound by fiduciary duties, over and above the contractual duties they owe each other, this will only be so by virtue of the particular arrangement they have entered into which, on a thorough examination of the facts, is found to require each party to give unstinting loyalty to the other. Recent Australian case law bears this out. [ABSTRACT FROM AUTHOR]

The article focuses on the proposal about consumer guarantees in Australia. The proposal aims to improve consumer well-being through consumer empowerment and protection which encourages effective competition between consumers and suppliers in the market. Member of Parliament Dr. Craig Emerson released an Issues Paper on behalf of the Commonwealth Consumer Affairs Advisory Council (CCAAC), which is in in-charge on the review of the consumer law. The paper examined the adequacy of the existing laws on implied terms and the need for amendments if any. The adoption of Consumer Guarantees Act (CGA) of New Zealand (NZ) will provide greater certainty and clarity of the proposal.

Regulatory scholars have increasingly observed that it is not only public regulatory agencies and official enforcement action that motivate and enforce businesses' compliance with the law; in many situations, certain third parties may have greater capacity and power to motivate and enforce compliance with the law than do official regulatory agencies. This paper examines the extent to which businesses' worries about, and perceptions of pressure from, various third parties influence their internal compliance management activities and moral commitment in relation to complying with the objectives of competition and consumer protection law. Using data from a survey of 999 large Australian businesses, we find that businesses worry a lot about the reactions of a range of third parties including customers, shareholders, employees, and business partners to non-compliance. We find little evidence that these worries have much impact on what businesses actually do. However, perceptions of risk of complaints do influence what they do. [ABSTRACT FROM AUTHOR]

This paper examines the unfair preference tests under corporate insolvency legislation in the Hong Kong Special Administrative Region (HKSAR) and Australia and undertakes a comparison of the law as it exists in relation to the tests in these jurisdictions. It suggests that the objective effects-based test used in the Australian provisions may be more effective in terms of challenging unfair preferences than the subjective ‘desire’ test based on the actual or presumed intention of the debtor company used in HKSAR. Copyright © 2007 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

This paper describes recent and ongoing processes of technological change in agriculture, which has become a highly R&D-intensive sector in many countries of the Asia-Pacific region. It also considers the role of various forms of intellectual property rights (IPRs) in promoting such technological changes and in affecting their diffusion through the region. A central part of the discussion is a review of how these various IPRs operate and are protected in major economies of the region. There is an assessment of the economic interests of key countries, including the United States, Canada, Australia, China, Japan and the Republic of Korea, in global and regional policy evolution in agricultural IPRs. These interests are a mix of comparative advantage in farming, which is quite distinctive among these countries, and the technological basis of production, which is more convergent. A review of available measures of innovation in the region suggests that all of these economies are active in developing new agricultural technologies, although there is considerable specialisation in the types of processes developed. Given this mix of divergence in comparative costs and convergence in technology interests, it is difficult to describe sharply the preferences these economies may have in continued globalisation of agricultural IPRs. However, the analysis points to some areas in which countries may continue to specialise – thereby retaining the ability to remain in specific areas of farming – and other fields in which international collaboration may be sensible. [ABSTRACT FROM AUTHOR]

Mining companies in Australia are increasingly required to interact with Indigenous groups as stakeholders following Native Title legislation in the early 1990s. A study of five mining companies in Australia reveals that they now undertake a range of programs involving Indigenous communities, to assist with access to land, and to enhance their public profile. However, most of these initiatives emanate from carefully quarantined sections of mining companies. Drawing upon cross-cultural and diversity research in particular, this paper contends that only initiatives that strive towards power sharing with Indigenous groups and strategies for broadening the organizational interface with Indigenous groups, will contribute to more ethical practices in mining and other companies. [ABSTRACT FROM AUTHOR]

The small to medium-sized enterprise ('SME') sector is the largest and most productive in Australia. Like all established market-based economies, ours is characterised by the use of contracts as a mechanism for exchange. Contracts often require variation in response to variables such as under-pricing, resource availability, changes in scope, and rising product costs, so SMEs (and larger businesses) will frequently encounter the process of renegotiation. The rules applicable to contract renegotiation seldom receive attention in academic writing. Moreover, the attitudes toward, understandings of, and experiences with the doctrine of renegotiation among Australian SMEs are scarcely researched. This article expounds the law of renegotiation before reporting on selected findings from a largescale empirical study designed to fill these knowledge gaps, among others, in the literature. The results provide invaluable insight into how this critically important sector perceives and deals with contract law and the doctrine of renegotiation, and underscores potential areas for improvement. [ABSTRACT FROM AUTHOR]

Background: International drug law enforcement agencies have identified an apparent rise in high level drug traffickers choosing to deal in multiple different drugs. It is hypothesised that this may be a "deliberate modus operandi" and that the formation of "portfolios of trades" may make such traffickers more profitable, harmful and resilient to changes in drug supply and policing. In this paper we provide the first exploration of the extent, nature and harms of poly-drug trafficking at Australian borders.Methods: Two different methods were used. First, we used Australian Federal Police (AFP) data on all commercial level seizures at the Australian border from 1999 to 2012 to identify the proportion of seizures that were poly-drug and trends over time. Second, we used unit-record data on a sub-set of 20 drug trafficking cases and linked-cases (defined as the original drug trafficking case and all other criminal cases that were connected via common offenders and/or suspects) to compare the profiles of poly-drug and mono-drug traffickers, including: the total weight and type of drug seized, the value of assets seized, and the level of involvement in other crime (such as money laundering and corruption).Results: Between 5% and 35% of commercial importations at the Australian border involved poly-drug trafficking. Poly-drug trafficking occurred in almost every year of analysis (1999-2012), but it increased only slightly over time. Compared to mono-drug traffickers poly-drug traffickers were characterised by: larger quantities of drugs seized, larger networks, longer criminal histories and more involvement in other types of serious crime.Conclusion: Some fears about poly-drug traffickers may have been overstated particularly about the inherent escalation of this form of trafficking. Nevertheless, this suggests poly-drug traffickers are likely to pose added risks to governments and law enforcement than mono-drug traffickers. They may necessitate different types of policy responses. [ABSTRACT FROM AUTHOR]

The Fair Trading Amendment Act 2021 introduced a New Zealand prohibition on "unconscionable conduct" in trade. Previously, the law on unconscionable conduct was found in the equitable doctrine of unconscionable bargain. This article describes how New Zealand law has moved away from equitable unconscionability with this new prohibition. This article critically analyses some of the legal, social and economic justifications for introducing the prohibition, finding that some of the Ministry of Business, Innovation and Employment's justifications are not persuasive. The s 7 prohibition is based strongly on an equivalent section in the Australian Competition and Consumer Act 2010 (Cth). It is argued that long-standing doctrinal issues with Australia's prohibition provided a strong basis for New Zealand to pursue a different standard. Finally, this article explores the "unfair commercial practices" doctrines in the United States and European Union through the lens of anticonsumer practices in digital marketplaces. The conclusion is that the unfair commercial practices doctrine captures a wider range of anti-consumer conduct than does unconscionable conduct. [ABSTRACT FROM AUTHOR]

Increasingly universities are becoming commercial enterprises and their core activities of teaching and research subject to business imperatives. This paper reviews the research costing methodologies of 17 Australian universities. Tension between Competition Law and Competitive Neutrality exists which could be resolved through improved costing and pricing transparency for research. [ABSTRACT FROM AUTHOR]

The TRIPS Agreement subsumes and applies the earlier international law of intellectual property (notably the Paris and Berne Conventions), but is typically distinguished from this juristic heritage by the still controversial reframing of intellectual property law as trade law, and by the more rigorous and compelling character of the dispute settlement mechanism that purportedly gives it 'teeth'. The threat of 'trade sanctions' would suggest that a realist assessment of the likely practical impact of TRIPS dispute settlement would govern national policy choices, more than compliance viewed as an end in itself. This paper reviews the actual interests defined and defended in TRIPS dispute settlement and seeks to illuminate the true character of the TRIPS Agreement as a regime of intellectual property standard-setting within a trade law framework. It concludes that practical experience confirms that a theoretical reconciliation of the supposed tension between intellectual property and 'real' trade law, and the development of an integrated, systematic jurisprudence of the TRIPS Agreement as the most robust defence of legitimate domestic policymaking on knowledge economy issues are now overdue, recalling that the true interpreter of the treaty text — the one ultimately bound to deliver on the promises of public welfare embedded therein — is a domestic policymaker seeking in good faith to establish an optimal balancing of interests through the practical craft of domestic policymaking, rather than a political or legalistic abstraction. [ABSTRACT FROM AUTHOR]

Commencing 13 March 2000, the Corporate Law Economic Reform Program Act 1999 (Cth) introduced changes to the regulation of corporate fundraising in Australia. In particular, it effected a reduction in the litigation risk associated with initial public offering prospectus disclosure. We find that the change is associated with a reduction in forecast frequency and an increase in forecast value relevance, but not with forecast error or bias. These results confirm previous findings that changes in litigation risk affect the level but not the quality of disclosure. They also suggest that the reforms' objectives of reducing fundraising costs while improving investor protection, have been achieved. [ABSTRACT FROM AUTHOR]

Prior to the First World War, the selling of the Australian wool clip rested firmly in the hands of the large woolbroking firms. An agreement between the British and Australian governments during the war saw many of the wool-selling functions of broking firms taken over by the Central Wool Committee. At the conclusion of hostilities, brokers moved to regain their role in the market. However, market conditions had changed. On an international level, traditional trading relationships had broken down, leaving commodity markets unstable and prices unpredictable. On a local level, woolgrowers had benefited from the wartime orderly marketing scheme and the high price guaranteed by the British government for their wool clip. As a result, they had begun to demand a greater role in the selling arrangements of their clip. This paper investigates the debates over the sale of the wool clip in the 1920s and how woolbrokers and growers eventually arrived at an understanding as to the manner in which the market should operate. [ABSTRACT FROM AUTHOR]

Conventional wisdom maintains that industrial turmoil accounts largely for the enactment of the compulsory arbitration law, the Conciliation and Arbitration Act 1904 and the Trade Disputes (Emergency Provisions) Decree 1968, in Australia and Nigeria respectively. Considering this view as patently inadequate, the paper investigates a broader background of this law in both countries and finds more critical factors at work. Important as the industrial turmoil was, this factor turned out to be merely a symptom of a more fundamental phenomenon, namely the lack of an institutionalized consensual collective bargaining system, arising largely from a similar form of interaction between the state and industrial relations in both countries. [ABSTRACT FROM AUTHOR]

Deals with corporate insolvency law reforms in Australia. Introduction of a voluntary administration regime; Procedures relating to the winding up of companies in insolvency; Liability of directors of a company for insolvent trading.

Background: Assessing public opinion towards tobacco policies is important, particularly when determining the possible direction of future public health policies. The aim of this study was to describe the implementation of tobacco retailer licensing systems by state and territory governments in Australia, and to use the National Drug Strategy Household Survey (NDSHS) to assess levels of public support for a retailer licensing system in each jurisdiction over time and by a range of socio-demographic and behavioural attributes.Methods: National and state/territory estimates of public support for a tobacco retailer licensing system were derived as proportions using NDSHS data from 2004 to 2016. The effect of one's jurisdiction of residence on the likelihood of supporting such an initiative in 2016 was assessed using logistic regression while controlling for various socio-demographic and behavioural characteristics.Results: Public support for a tobacco retailer licensing system ranged from a high of 67.2% (95% CI 66.5-67.9%) nationally in 2007 and declined to 59.5% (95% CI 58.9-60.2%) in 2016. In 2016, support was greatest amongst those from Tasmania, those aged 50 years and older, females, those from the least disadvantaged areas, those living in major cities, never-smokers and never-drinkers. After adjusting for the socio-demographic and behavioural attributes of respondents, those from Queensland were significantly less likely to support a licensing system (adjusted OR = 0.85, 95% CI 0.77-0.94) compared to those from other jurisdictions, while those from Tasmania were significantly more likely to support a licensing system compared to those from other jurisdictions (adjusted OR = 1.29, 95% CI 1.09-1.52).Conclusions: A clear majority of the public support a tobacco retailer licensing system, regardless of whether or not such a system is already in place in their jurisdiction of residence. Tobacco control initiatives other than a retailer licensing system may explain some of the residual variations in support observed between jurisdictions. [ABSTRACT FROM AUTHOR]

The article presents updates related to the Tax Institute. A commercial law course has been launched by the Institute in March 2013. The National Convention of the Institute will be held in Perth, Western Australia on March 13-15. Two asset protection webinars about asset protection and divorce will be hosted by the Institute on March 28.

This article is the first detailed empirical study of banning orders made under legislation administered by the Australian Securities and Investments Commission (‘ASIC’). This method of enforcement of corporate law has been little researched, yet it is arguably the dominant mode of corporate law enforcement in Australia. The article examines the prevalence of banning orders relative to other major enforcement outcomes and analyses the number and duration of bans prohibiting individuals from managing corporations, providing financial services, engaging in credit activities, and auditing self-managed super funds. The dataset — encompassing 2777 banning orders across a 29-year period — reveals a significant upward trend in banning orders and a corresponding downward trend in most other major enforcement outcomes. In the 10 years since 2005–06, there were more banning orders than all other major enforcement outcomes combined. Banning orders were also increasingly severe in duration, due to an upward trend in financial services and credit activity bans, about 47% of which were permanent in duration collectively. The increasing prevalence and severity of banning orders, an estimated 87% of which were administrative decisions by ASIC, or appeals from such decisions (rather than first instance decisions by the courts), raise concerns regarding the accountability of banning practices. The judiciary has acknowledged that banning orders, while primarily protective in purpose, also function as a form of retribution akin to criminal punishment. Yet administrative hearings are not subject to the rules of evidence that apply to criminal court proceedings and the reasons for banning orders are not available to the public. The increasingly heavy use of these effectively punitive orders demands a higher standard of public accountability. Improved access to administrative banning decisions would advance ASIC’s stated commitment to transparency, open data and accountability, and give effect to the Australian Government’s Public Data Policy Statement and innovation agenda. [ABSTRACT FROM AUTHOR]

Australia has always relied heavily upon foreign sources of investment and financing and has in the past tended to draw mainly upon British, American and Japanese investment. In recent decades, Chinese state-owned enterprises (SOEs) have played an increasingly important role in the Australian economy with a rising level of investment taking place. Chinese SOEs have been more heavily involved in investments into larger Australian investment projects, such as in mining and infrastructure. Australia has seen an increase in the number of Chinese state-owned companies acquiring substantial domestic assets; this may continue following the ratification of the China-Australia Free Trade Agreement in 2015. Although Chinese SOEs operating in foreign countries such as Australia are required to comply with local corporate governance laws and principles, they also retain their unique Chinese corporate governance values and culture which they have inherited through their parent companies and from China itself. In Australia, there has been an ongoing debate over Chinese investment, with the business community being particularly supportive of such investment. Driven largely by the business community, this debate has been relatively narrow and has not explored the likely impact of Chinese SOEs and their subsidiaries upon the shape of corporate governance in countries in which they invest. This article seeks to examine the legal contours of Chinese-controlled investment in Australia with a view to acquiring a more informed understanding of the impact of Chinese SOEs upon the Australian legal landscape. [ABSTRACT FROM AUTHOR]

The article examines the current developments in relation to commission payments in Australia, as of July 2017. Topics discussed include inquiries relevant to commission payments; need of initial financial services law reform (FSR), which was designed to create generic regulation for all financial products by removing regulatory arbitrage; strategies to regulate commissions; and Australian Bankers' Association's (ABA) report into commissions and retail banking products.

Australia enacted its multinational anti-avoidance law (MAAL) in December 2015 to prevent large multinationals using contrived selling arrangements implemented in order to avoid attributing business profits to Australia. Heavily influenced by Australia's MAAL, the New Zealand Government released its own discussion document in March 2017 proposing a permanent establishment avoidance rule (PEAR) targeting multinationals with more than €750m annual consolidated global turnover. It is unsurprising that NZ is likely to be the first country to follow Australia by introducing its own version of the MAAL. Tax policymakers of both countries experience the same challenges in relation to the digital economy, resulting from the fact that Australia and NZ are typically viewed as end-user market jurisdictions by multinational enterprises. This article provides a comprehensive comparison of the MAAL and the PEAR, including a summary of the key requirements and the main consequences of both measures. [ABSTRACT FROM AUTHOR]

In Australia, insider trading by individuals or corporations can attract either criminal or civil penalties. This article considers the potential deterrent effect of the different types of penalties for illegal insider trading and concludes that while criminal prosecution remains the preferred enforcement option in relation to wrongdoing by individuals motivated by personal gain, civil penalty proceedings may be a more effective deterrent of unlawful conduct by individual wrongdoers motivated by corporate success, or by corporations. If so, this may have implications for penalties design in relation to other forms of white-collar crime, at least where the harm caused is not to an individual victim. [ABSTRACT FROM AUTHOR]

Consumer protection statutes in both Australia and New Zealand impose obligations on people who are in trade. Courts have consistently interpreted the 'in trade' limitation as excluding private transactions. In New Zealand, a statutory provision operative since 2014 requires all sellers 'in trade' who transact over the internet to make it clear to consumers that they are a 'vendor in trade'. This helps consumers buying online to assess whether or not they are protected by consumer legislation. This article explores the emerging interpretation difficulties presented by the private seller exclusion in an age of online selling where the distinction between a commercial seller and a private seller is not always clear. The article considers whether there are good reasons, both in terms of policy and as a matter of statutory interpretation, to abandon the idea that private transactions are not 'in trade' and, therefore, not subject to consumer protection legislation. If the private seller exclusion is not abandoned, it is argued that there is an urgent need to update consumer legislation to clarify when sellers cross the line from being a seller entering a private transaction to being a person acting 'in trade'. Recommendations are made for the development of new statutory guidelines and definitions. [ABSTRACT FROM AUTHOR]

The article discusses how Queensland Court of Appeal's decision in the case "Albrecht v Ainsworth & Ors" favored stakeholders' rights and interests to determine whether it was just and equitable to allow the appropriation of common property for exclusive use. It discusses how overturned the Queensland Court of Appeal's earlier decision,20 concluding that Their Honours made multiple errors of law in the decision.