Fresh perspectives on the meaning of 'benefit' under section 698 of the Corporations Law
Article Abstract:
Two 1998 decisions show that companies planning takeovers must be careful to avoid conferring benefits as defined by Australian Corporations Law section 698. The New South Wales Supreme Court ruled in Boral Energy Resources Ltd v. TU Australia (Queensland) Pty that a benefit was conveyed. The Australian Federal Court ruled an advantage granted in a merger constituted a benefit under section 698 in Aberfoyle Ltd v. Western Metal Ltd.
Publication Name: Australian Business Law Review
Subject: Law
ISSN: 0310-1053
Year: 1998
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Section 50 - controlling mergers in the future?
Article Abstract:
The current antitrust threshold of section 50 of the Australian Trade Practices Act should remain in effect for business mergers. The Trade Practices Commission (TPC) recommends change, even though the changes would increase the number of mergers the TPC would have to review. Minor changes in TPC procedures would correct for the criticisms of section 50 without requiring legislative action.
Publication Name: Australian Business Law Review
Subject: Law
ISSN: 0310-1053
Year: 1992
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The economics and law of section 46 of the Trade Practices Act
Article Abstract:
Economic theory is an integral part of section 46 of Australia's Trade Practices Act 1974. What constitutes markets, market power, and competition are important for section 46 application, but definition can be difficult. The premise underlying section 46, that welfare will increase with competition, should be re-examined.
Publication Name: Australian Business Law Review
Subject: Law
ISSN: 0310-1053
Year: 1998
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