Section 46 of the Trade Practices Act-has the High Court made a "u-turn" on "taking advantage"?

Examination of High Court decisions on misuse of market power in regard to the element of "taking advantage" reveals inconsistency of application. Whilst being consistent regarding the need for a connection between the market power and the impugned conduct, the High Court has not been consistent regarding the degree of connection required. Two streams have developed, one supporting a high degree of connection, the other a lower degree before a firm is found to have "taken advantage" of its market power. Added to this has been the development of the "rational business explanation" which, it is argued, is either used as a defence to a s 46 action or is premised on the higher threshold of connection. Initially the high Court supported the lower threshold. In later decisions, whilst expressing support for the earlier decisions, in application the High Court favoured the higher threshold and at one point the rational business explanation. This trend appears to have been reversed with the most recent High Court decision which indicates substantive support for the earlier s 46 decisions.

Recent amendment to section 197- is it acceptable?

The majority decided in Hanel v O’Neill that directors of trustee companies
could be held personally liable to discharge the debts incurred by a
company pursuant to s 197(1) of the Corporations Act 2001 (Cth). On
18 November 2005, legislation was passed to amend s 197(1); this was to
overturn the decision. This article evaluates other relevant cases and
argues that the recent amendment to s 197 is unsatisfactory as it leaves
potential for abuse by directors of certain trustee companies. The article
suggests further reform to the section and to this end, suggests ways for
s 197 to reconcile with other parts of corporate law, such as insolvent
trading and directors’ duties.

The Age (Education section) 2003 -

Dr Marcia Devlin is an educational psychologist and Professor of Higher Education Research at Deakin University. Marcia has a broad and extensive publication record in the scholarship of teaching and learning that incorporates academic development, student learning support and the use of information and communication technologies in teaching and learning. She writes regularly for The Age and Campus Review newspapers.

Unique marine Permian-Triassic boundary section from Western Australia

A unique marine Permian-Triassic boundary section containing rich oil source rocks has been continuously cored in a petroleum borehole from the Perth Basin of Western Australia. Such sequences, which provide a biostratigraphic and environmental record at the time of the largest extinction event of the past 500 million years, are globally rare, and this is the first to be documented in Australia. Throughout geological history there have been periods of global marine anoxia that commonly resulted in the widespread deposition of petroleum source rocks, most notably in the mid-Cretaceous and Late Jurassic. An apparent paradox is that, previously, source rocks have not been recognised in association with the Permian-Triassic boundary, despite widespread marine anoxia at this time. The Perth Basin source rocks contain abundant and unusual biomarkers, apparently related to the highly specialised and limited biota that flourished in the aftermath of the end-Permian extinction event. Local conditions may have favoured source-rock development, either due to higher productivity resulting from coastal upwelling or through enhanced preservation under strongly anoxic conditions.

Fusulinoideans from the early Midian (late Middle Permian) Metadoliolina dutkevitchi-Monodiexodina sutchanica Zone of the Senkina Shapka section, South Primorye, Far East Russia.

Fusulinoideans from the Metadoliolina dutkevitchi-Monodiexodina sutchanica Zone of the lower part of the Chandalaz Formation in the Senkina Shapka section in South Primorye, Far East Russia, are described. The fusulinoidean zone is assigned to the early Midian (=Capitanian: late Middle Permian) based mainly on the morphologie and biostratigraphic characteristics of Metadoliolina dutkevitchi. Previously, a Midian age has been established for the Metadoliolina dutkevitchi-Monodiexodina sutchanica Zone by the coexistence of Lepidolina species. However, the occurrence of Lepidolina with the two zonal species in this area has not been verified by the illustration of Lepidolina specimens. We examined a fusulinoidean-bearing sample from the Metadoliolina dutkevitchi-Monodiexodina sutchanica Zone, and three fusulinoidean species, Monodiexodina sutchanica, Pseudofusulina sp. and Metadoliolina dutkevitchi, are de-scribed and illustrated.