Our Banking & Finance team responded to the commencement of the ASIC Derivative Transaction Rules (Reporting) 2024 with a new Practice note, ASIC Derivative Transaction Rules (Reporting): comparison of 2022 and 2024 Rules and a substantial update of Practice note, Derivative transaction reporting in Australia.

Our Commercial team published:

• a new Practice note, Review of the Privacy Act 1988 (Cth) and accompanying legal update;
• substantial updates to Practice note, Supply of goods contracts, Practice note, Anti-bribery laws in Australia, and Checklist; and
• substantial updates to Practice note, Reasonable and best endeavours, Practice note, Managing supply chain disruptions during a crisis and accompanying Checklist.

The Commercial team also collaborated with our Employment team to substantially update Standard document, Consultancy agreement in response to amendments of the Fair Work Act 2009 (Cth) addressing independent contractors.

Our Corporate team has also been busy, adding new ESG content including:

• Legislation tracker, Modern slavery in Australia: Commonwealth legislation tracker; and
• Checklist, Mandatory climate-related financial reporting under Chapter 2M of the Corporations Act 2001 (Cth).

They also continued to enhance our materials on financial assistance whitewashes:

• adding a new Checklist, Procedure for undertaking a financial assistance whitewash under section 260B of the Corporations Act 2001 (Cth); and
• substantially updating other financial assistance resources including Standard clause, Members' resolution and explanatory statement: approval of financial assistance (company providing financial assistance), Standard clause, Members' resolution and explanatory statement: approval of financial assistance (ASX-listed holding company) and Standard clause, Members' resolution and explanatory statement: approval of financial assistance (unlisted Australian ultimate holding company).

Reflecting the increased participation of financial parties in litigation, our Dispute Resolution and Insolvency team published a new Standard document, Litigation funding agreement, for use in the context of a class action in the Federal Court of Australia and a new Standard document, liquidator funding agreement between a funder and liquidators to fund the conduct of a liquidation.

Our employment team continues to update existing content for, and create new content responsive to, the ongoing program of employment law reform that has been central to the Albanese Government's legislative program. In September and October, this included:

• new content on employment contracts, such as Practice note, Employment contracts (1): General principles and Practice note, Employment contracts (5): Contract clauses for fixed term engagements;
• new content on entitlements and obligations under the National Employment Standards including Standard document, NES: Casual employee notification, Standard document, NES: Response to casual employee notification, Standard document, NES: Response to casual employee notification (employee ineligible) and Checklist, NES: Comparison of casual conversion and casual choice mechanisms;
• substantially updating a range of content including:
  • Standard document, Consultancy agreement;
  • Practice note, Fair Work Information Statement;
  • Practice note, Casual Employment Information Statement;
  • Practice note, AHRC Act: remedies and costs in federal discrimination court proceedings;
  • FW Act: Attributing the conduct and state of mind of officials to a body corporate
  • FW Act: Liability for civil remedy contraventions; and
  • FW Act: Remedies for civil remedy contraventions.

To keep track of all new and featured updated content on Practical Law, visit our What's New page.