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TGA shelves biosimilar and generic transparency measures
In late 2020, following almost 18 months of public and industry consultations conducted by the Therapeutic Goods Administration (TGA).
Australia | Publication | May 2024
The Australian Government recently announced reforms to its foreign investment framework and released an updated Foreign Investment Policy and exposure draft regulations to exempt interfunding transactions from foreign investment approval processes. The reforms will largely be implemented via changes to the Australian Government's Foreign Investment Policy, rather than through legislative changes (other than for the interfunding exemption). It is expected that the guidance notes published by the Foreign Investment Review Board will be updated over the coming months.
The recent federal Budget release noted that the Australian Government will provide A$15.7 million towards these reforms to attract significant foreign capital flows while protecting the national interest.
The key objective of the reforms is to ensure that a risk-based approach is undertaken in administering the foreign investment framework. Key changes include:
Norton Rose Fulbright has extensive experience advising clients on Australia’s foreign investment framework. We advised on the foreign investment framework for one of Australia’s largest forestry deals, and also advised global consulting construction, engineering and operating company, Egis on its acquisition of Australian and New Zealand company, Calibre Professional Services.
If you would like to discuss how the proposed changes may affect current or future Australian investments, please contact us.
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In late 2020, following almost 18 months of public and industry consultations conducted by the Therapeutic Goods Administration (TGA).
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The Government of Ontario recently introduced the Strengthening Cyber Security and Building Trust in the Public Sector Act, 2024 (Bill 194) seeking to strengthen cybersecurity programs in the public sector and provide the groundwork for the responsible use of artificial intelligence (AI) among various public sector entities.
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On May 24 the Labour Party published an update to its proposals on employment law in “Labour’s Plan to Make Work Pay: Delivering A New Deal for Working People” (the Plan). Our review of the proposals included in the Green Paper which was initially published in 2021 can be found here. Should they win the election, the Labour Party has stated that it will introduce an Employment Bill within the first 100 days of being in power which will cover many of these issues.
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