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Global rules on foreign direct investment (FDI)
Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
Australia | Publication | January 2023
The Environment Protection Authority Victoria (EPA) has released two new draft guidelines, a Separation distance guideline and a Landfill buffer guideline (Draft Guidelines). The Draft Guidelines are helpfully summarised by the EPA here: Guide to separation distance and landfill buffer changes.
The Draft Guidelines will:
Businesses involved with landfills or industries which emit odour or dust, and are proposing new or expanded operations in 2023 or beyond, should carefully review the Draft Guidelines and consider the impact they may have on their plans.
If you are impacted by the proposed new guidelines, consider making a submission during the consultation period. Consultation on the Draft Guidelines closes on 5:00pm 17 February 2023.
EPA guidelines inform the new ‘state of knowledge’ test within the General Environmental Duty established under the Environment Protection Act 2017 (EP Act).
State of knowledge includes all of the information you should reasonably know about when managing the risks of your business. As such, a failure to comply with or an ignorance of the guidelines may be used against you if a breach of the EP Act occurs.
Once finalised, the Draft Guidelines will apply only to new permits and applications.
The Draft Guidelines will replace the Recommended separation distances for industrial residual air emissions (EPA publication 1518).
Key changes arising from the Separation distance guideline include:
The Draft Guidelines will replace the Assessing planning proposals within the buffer of a landfill (EPA publication 1642) and relevant parts of Siting, design, operation and rehabilitation of landfills (Landfill BPEM) (publication 788.3).
Key changes include:
It is proposed that the new 1,500-metre buffer may be varied to a minimum of 1,000 metres if an appropriate odour risk assessment is able to demonstrate that an alternative buffer is acceptable.
Consultation closes 5:00pm, 17 February 2023. You can participate in the consultation by filling out an online form on the EPA’s website found here.
Final guidelines are proposed to be published on the EPA’s website mid 2023.
If you are unsure how the Draft Guidelines might affect your existing operations or future projects, or would like assistance with preparing a submission to the EPA, please contact a member of our Environment and Planning team.
Publication
Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
Publication
On February 2, 2024, the Belgian Presidency of the Council of the European Union confirmed that the Committee of Permanent Representatives had signed the Artificial Intelligence (AI) Regulation, referred to as the AI Act. Approval by the EU Parliament followed on 13 March 2024, and the AI Act is likely to appear in the EU’s Official Journal around May 2024. The AI Act aims to establish a stringent legal framework governing the development, marketing, and utilisation of artificial intelligence within the region, thereby marking a significant advancement in the regulation of this burgeoning domain.
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The private credit market and direct lending have grown and diversified immensely in the past decade, offering alternative sources and terms of debt compared to those historically provided by the syndicated leveraged loan and public issuance markets. Consequently, they are fast becoming pivotal components in the capital ecosystem, so much so that the Bank of England consider that the private credit market is currently responsible for approximately $1.8 trillion of debt issuance, which is four times its size in 2015. This growth has been particularly pronounced in Europe and the US but there has also been significant activity in Asia.
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