A WORD OF WARNING FOR ADVERTISING AND PROMOTIONAL WORK
In a recent decision, the Federal Court ordered the largest builder of residential homes in Australia to pay $800,000 (among other penalties) after concluding that some of its advertising and promotional material was false and misleading. The decision is a timely reminder to businesses of the need to carefully scrutinise its advertising material before release, to avoid the risk of heavy fines and adverse publicity.
PERSONAL PROPERTY SECURITIES REGISTER – ARE YOUR INTERESTS PROTECTED?
As you should now be well aware, the Personal Property Securities Act 2009 (PPSA) commenced on 30 January 2012 which introduced, among other reforms, a significant change in the law relating to the leasing of goods. Whereas previously a hirer of certain goods could rely on a clause in the contract providing that they remain the owner of the goods to protect its interest as an owner, the PPSA now requires the hirer, in certain circumstances, to register its interest in the goods otherwise it may lose its interest in the goods to a third party.