Foundations of Financial Markets and Institutions, The Interpretation of Financial Statements. Share Prices Australia Pty Ltd provides this data under licence from ASX Operations Pty Ltd, a subsidiary of ASX Limited. Only one-fifth have followed through so far. Any Order, once accepted, may only be changed or cancelled by mutual agreement. today, has previously admitted responsibility and apologised over, The penalty was handed down by Justice Peter Heerey at the, It represents the largest penalty ever levied in, price fixing, following a $15 million fine in 2002 involving. 13.1 The Buyer agrees that these Terms constitute a security agreement for the purposes of the PPSA. Both the Buyer and Visy may only use confidential information of the other for the purposes of the sale of Goods contemplated by these Terms, and both parties agree to keep confidential any confidential information of the other except to the extent the information is public knowledge or disclosure is required by law. for any loss, damage or injury of any kind, including consequential, indirect or special loss or damage suffered by any person arising directly or indirectly from: for any other compensation, demand, remedy, liability or action. If the law which requires a period of notice or a lapse of time cannot be excluded, but the law provides that the period of notice or lapse of time may be agreed, that period or lapse of time is one day or the minimum period the law allows to be agreed (whichever is the longer). Where used, the terms EXW, FAS, FIS, FOB, FCA, CFR, CIF, DDP and DAP shall be construed in accordance with Incoterms 2010. 14.5 “Event of Default” means an event where: (a) the Buyer fails to comply with these Terms; (b) the Buyer is unable to pay its debts when due, or commits an act of bankruptcy; (c) the Buyer enters into any composition or arrangement with its creditors; (i) the Buyer does anything which would make it liable to be put into liquidation; (ii) a resolution is passed or an application is made for the liquidation of the Buyer; (iii) a receiver or statutory or official manager is appointed over all or any of the Buyer’s assets; (iv) the buyer, its board or shareholders is considering appointing an administrator or liquidator; or, (v) an administrator is appointed to the Buyer; or. Where the authority conferred by clause 5.3 is revoked under clause 5.4, Visy may bring an action for the Amount Owing in respect of the Goods even where ownership of the Goods has not passed to the Buyer. Ask Amazon Alexa for the latest SBS News or listen to SBS Radio. 1.2 The Buyer will place Orders with Visy in accordance with Visy’s processes as advised from time to time. Claims with respect to non-conforming or defective Goods will only be accepted if made to Visy in writing within 7 days after Delivery, or such further period as Visy may agree in writing, and Visy has first been given the opportunity to inspect the Goods and agrees to their return. If credit is satisfactorily established, terms are strictly net 30 days from the end of the month during which the invoice was issued, unless otherwise agreed to by Visy in writing. Under the settlement agreement Mr Pratt, Visy and his senior executives admit to their role in the deal to fix prices and market share in Australia's $2 billion cardboard market between 2000 and 2004. 2.2 If the Buyer does not pay the Price by the due date, Visy may charge a default penalty calculated at a rate per annum equal to 15% and calculated on a daily basis on the unpaid portion of the Price and any other monies owing by the Buyer from due date until payment in full (and such rate shall be chargeable both before and after any judgment is obtained). 14.21 There is no obligation on Visy to enquire as to the authority of any person placing an Order on behalf of the Buyer. Quantity: Orders will be considered complete if delivered plus or minus the following tolerances: Risk of any loss, damage or deterioration of or to the Goods passes to the Buyer on Delivery. The penalty was handed down by Justice Peter Heerey at the Federal Court, in Melbourne. The Buyer will place Orders with Visy in accordance with Visy’s processes as advised from time to time. (b) for any other compensation, demand, remedy, liability or action. To the extent permitted by law all other warranties, express or implied, are excluded. Watch SBS World News live daily at 6:30pm on TV and on our app. Alternatively Visy may retake possession of the Goods and resell them and for that purpose may enter the Buyer’s premises to remove the Goods. This forty five (45) day negotiation period does not apply where there is a requirement for urgent interlocutory relief.

8.1 Without limiting the foregoing, neither Visy nor the Buyer will be liable for any delay or failure in the performance of any obligation or the exercise of any right under these Terms or for any loss or damage if such performance or exercise is prevented or hindered in whole or in part by reason of a Force Majeure Event. (a) for any loss, damage or injury of any kind, including consequential, indirect or special loss or damage suffered by any person arising directly or indirectly from: (i) any breach of Visy’s obligations under these Terms; (iii) any negligence, misrepresentation or other act or omission by Visy or its employees, agents or contractors; or. Australia's third-richest businessman, who was not in court today, has previously admitted responsibility and apologised over the anti-competitive behaviour. 1.1 All quotations provided by Visy are subject to withdrawal or variation by Visy at any time prior to acceptance of an Order. The penalties handed down by Justice Heerey today are in line with the settlement reached last month between Visy and the Australian Competition and Consumer Commission (ACCC). Justice Heerey said Mr Pratt and his senior executives were knowingly concerned in the cartel, which involved price fixing and market sharing. Colorpak’s HY13 results were released recently, and are now giving a picture of what the entity will look like post-consolidation. Where the authority conferred by clause 5.3 is revoked under clause 5.4, Visy may bring an action for the Amount Owing in respect of the Goods even where ownership of the Goods has not passed to the Buyer. The entry into of any subcontracts will not relieve a party from liability for the performance of any obligations under these Terms. Alternatively Visy may retake possession of the Goods and resell them and for that purpose may enter the Buyer’s premises to remove the Goods. 14.7 “Goods” means all goods and related services supplied to the Buyer by Visy now and any time in the future including but not limited to papers and paperboards, and other pulp and paper related products. There is no obligation on Visy to enquire as to the authority of any person placing an Order on behalf of the Buyer. Quantity: Orders will be considered complete if delivered plus or minus the following tolerances: Reel width: Reel width tolerance is zero minus, and plus up to 5 mm. 14.18 The waiver by Visy of any provision, or breach of any provision, of the Terms is not to be construed as a waiver of any other provision or breach of any other provision, or further breach of the same or any other provision of the Terms. Each party submits to the jurisdiction of the courts of that state. 7.2 Visy is entitled to recover from the Buyer all costs that Visy incurs in connection with the exercise, protection or enforcement of Visy’s rights under these Terms or conferred by law, in each case on demand and on a full indemnity basis (including solicitor client costs). In any event, Visy’s liability arising out of any Claim or otherwise under these Terms, or relating to the supply of Goods, will not exceed the Price of the Goods that are the direct subject of the Claim. As America waits for an election result, coronavirus infections spike to a new record, Boris Johnson appeals for unity as England enters second coronavirus lockdown, 'What a spectacle': Iran's supreme leader Ayatollah Ali Khamenei mocks US election, Armed Trump supporters swarm Arizona election centre after his unproven claims of fraud, Two white men headlined the US election, but these diverse Americans were also voted in. 13.3 The Buyer agrees that a Secured Party may register, in any manner it considers appropriate, any security interest on the Personal Property Securities Register which in its opinion is created by or contemplated under these Terms and, for the avoidance of doubt, may include any or all of the Secured Parties as the secured party in such registration. For the purposes of this clause 5 and in any case in which Goods are processed before repayment of the Amount Owing in respect of the Goods, the term “Goods” includes products, parts or components which can be identified as being substantially derived from the Goods supplied by Visy. Visy will endeavour to deliver the correct quantity ordered, but all deliveries will be within the following tolerances. Mr Pratt's right-hand man, former Visy chief executive Harry Debney has been fined $1.5 million and former general manager Rod Carroll has been fined $500,000. All right, title and interest in and to any Goods or materials in which copyright or other intellectual property rights exist created by Visy for or supplied by Visy to the Buyer shall, as soon as the same may come into existence or be capable of commercial exploitation vest absolutely in and remain the sole property of Visy. means an order placed by the Buyer with Visy for the purchase of Goods. The following terms govern all Orders placed by the Buyer and shall be incorporated into each contract entered into between the Buyer and Visy for the supply of Goods to the exclusion of any other terms that the Buyer seeks to impose or incorporate, or which are implied by trade, custom, practice or course of dealing. (a) Visy may suspend or terminate these Terms, and/or any supply of Goods under them; and/or. means, at any time, all amounts owing by the Buyer to Visy under these Terms or otherwise, or if the context specifically provides in respect of specific Goods. 5.5 For the purposes of this clause 5 and in any case in which Goods are processed before repayment of the Amount Owing in respect of the Goods, the term “Goods” includes products, parts or components which can be identified as being substantially derived from the Goods supplied by Visy. All contents of the lawinsider.com excluding publicly sourced documents are Copyright © 2013-. amp $ 1.660 -1.19% where the Goods are supplied within Australia, provide any assistance reasonably requested by Visy to enable Visy to record or perfect its security interest in the Goods on the PPSA register. 5.6 Until ownership of the Goods passes to the Buyer under these Terms the Buyer must adequately insure the Goods and: (a) keep proper stock records and records of account with respect to the purchase, receipt, sale of, and other dealings with, the Goods; (b) make those records and/or the Goods themselves available to Visy for inspection (and in the case of the records, copy them) at its reasonable request; and. References to legislation include as amended, re-enacted or substituted and any statutory instruments, regulations and orders issued under such legislation. Alphabetical list: Australian Public Listed Companies In all circumstances whatever the agreed method of delivery is, the Buyer will be responsible at its cost for unloading the Goods, or for arranging for a suitable means of unloading the Goods, from the relevant delivery vehicle. Since its launch, buyers and sellers have achieved $1.6bn in price improvement trading through Centre Point, with our mid-point matching system enabling both buyers and sellers to achieve better pricing than their initial bid or offer; Read more about ASX equity trading … obligations under these Terms including for the avoidance of doubt act of God or public enemy, flood, earthquake, storm, lightning, fire, explosion, epidemic, war, embargo, riot or civil disturbance, strike or other labour dispute, inability to procure raw materials, failure of machinery, sabotage, expropriation, and orders or temporary or permanent injunctions of any duly constituted court of competent jurisdiction.