find the latest legal job
Senior Associate - Litigation & Dispute Resolution
Category: Litigation and Dispute Resolution | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Come work for a firm ranked in Lawyers Weekly Top 25 Attraction Firms
View details
Associate - Workplace Relations & Safety
Category: Industrial Relations and Employment Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Employer of choice · Strong team culture
View details
Freelance Lawyers
Category: Banking and Finance Law | Location: All Perth WA
· Freelance opportunities through Vario from Pinsent Masons
View details
Freelance Lawyers
Category: Other | Location: All Adelaide SA
· • Qualified lawyer with a strong academic background
View details
Freelance Lawyers
Category: Other | Location: All Melbourne VIC
· • Qualified lawyer with a strong academic background
View details
Policy changes to open up deals for firms: lawyer

Policy changes to open up deals for firms: lawyer

The number of stalled deals for law firms representing Chinese investors into Australia is expected to decrease thanks to recent government changes to foreign investment policy.

THE number of stalled deals for Australian law firms representing Chinese investors into Australia is expected to decrease thanks to recent government changes to foreign investment policy.

The Federal Government's changes to foreign investment policy and the resources taxation reforms are expected to be well received by potential Chinese investors in the Australian resources industry, an Allens Arthur Robinson partner said.

Jeremy Low, a partner at Allens, said recent Government policy changes are helping to address the key concerns of Chinese investors.

“In recent times, our clients have been telling us that their main concerns are a lack of clarity to the Government's rulings in relation to permitting foreign investment and uncertainty due to the Resource Super Profits tax. Based on our experiences recently, this has resulted in number of stalled deals,” said Low.

Last week, Allens held a seminar for potential Chinese investors to provide them with information on how the Government was addressing these concerns via recent changes to Foreign Investment Policy and the new Minerals Resource Rent Tax.

Minister for Resources, Energy and Tourism, Martin Ferguson, attended the seminar and provided an update on key regulatory and policy changes that will guide the next wave of Chinese investment in the resources sector.

“There was a lot of interest at our seminar from Chinese investors. A number commented to me that they see the Government's recent announcements as a positive step towards providing more clarity and removing some of the uncertainty,” said Low.

On Wednesday, 30 June 2010, the Federal Government announced changes to Foreign Investment Policy that provides more detail and definition on the approach the Foreign Investment Review Board (FIRB) will take for the approval of acquisitions of businesses by foreign companies in Australia.

“The policy effectively formalises the considerations that the FIRB has been taking into account for a number of years,” said Low.

“To capture this in policy makes it easier for foreign investors to be clear on how to engage with FIRB.”



Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Policy changes to open up deals for firms: lawyer
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
microphone
Oct 20 2017
Podcast: One of law’s most infamous alumni – in conversation with Julian Morrow
In this episode of The Lawyers Weekly Show, Melissa Coade is joined by The Chaser’s Julian Morrow....
protest
Oct 20 2017
High Court overturns ‘excessive’ anti-protest legislation
Bob Brown’s recent victory in the High Court over the Tasmanian government was a win for fundament...
Blocked
Oct 20 2017
Changes to Australian citizenship laws blocked
Attempts to beef up the requirements to obtain Australian citizenship were thwarted this week, after...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...