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Global rules on foreign direct investment (FDI)
Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
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Australia | Publication | June 2020
On 11 June 2020, the Design and Building Practitioners Act 2020 (NSW) (Act) received Royal Assent. The Act is part of the NSW Government’s response to the Building Confidence report authored by Professor Peter Shergold AC and Ms Bronwyn Weir.
The Act delivers on the NSW Government’s commitment to better regulate the design and building sector and provide greater protections to consumers against defective building works, an issue which has received heightened political attention in the wake of recent incidents of defects discovered in apartment buildings across New South Wales.
Many of the reforms in the Act will commence on 1 July 2021 or on a date to be proclaimed, but the key statutory duty of care reform commenced on and from 11 June 2020.1
The Act introduces a number of important reforms to achieve these ends, some of which are set out below:
There are several aspects of the reforms which appear to be dependent on supporting regulations which will be introduced later this year. We will be providing a more comprehensive summary of the reforms after the supporting regulations are introduced.
Norton Rose Fulbright’s national construction and engineering team is one of the leading practices in the market. Asia Pacific’s preeminent companies choose our team for its transactional experts, project delivery service and highly specialist disputes practice and outstanding track record. Unlike many project teams, our experienced team provide an end-to-end service across the lifespan of construction and infrastructure projects, advising from front-end procurement strategy and contract negotiation and preparation, through to project delivery, claims and disputes. With deep experience advising on large-scale infrastructure, property, energy and resources projects, we offer clients a legal team with unrivalled strength as well as access to specialists in other areas including planning, environment, real estate and insurance. Should you require assistance on your projects, please feel free to reach out to a member of our team below.
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Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
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Taking place across three webinars, our team of experienced lawyers and consultants, along with industry professionals and regulators, explore the latest ESG developments and trends within financial services regulation. This series takes a cross jurisdictional perspective, covering ESG financial services regulation and trends from across the globe.
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