ACCC releases draft decision proposing to authorise collaborations on sustainable finance initiatives

Source: Australian Ministers for Regional Development

The ACCC has released a draft determination proposing to grant authorisation with conditions to allow the Australian Sustainable Finance Institute (ASFI) and industry participants to collaborate on sustainable finance initiatives for five years.

ASFI is seeking authorisation for itself, ASFI members and other industry participants to exchange information to improve the integration of natural capital data into financial decision-making, co-designing investment structures and developing related regulatory reform proposals. Authorisation is also sought for some participants to agree to jointly develop and propose to Government or ASFI the most effective investment structure and/or product features to achieve sustainable investment products.

ASFI aims to facilitate the development of sustainable farming practices, support producers to meet sustainability regulations of export destinations, and contribute to emissions reduction targets. The goal of the proposed collaborative conduct is to enable ASFI to increase the flow of private capital into sustainable investment opportunities.

“We consider that the proposed collaborative conduct would increase the likelihood of greater investment in projects seeking to preserve Australia’s environment as well as cost savings and process efficiencies,” ACCC Deputy Chair Mick Keogh said.

The ACCC considers this kind of information sharing and collaboration between competitors can reduce competition in the supply of sustainable financial products as well as in broader financial markets through coordinated behaviour enabled by information sharing between competitors.

The ACCC has made some amendments to the conduct to be authorised in its draft decision and is proposing to impose a number of conditions to limit any negative impacts. It will consider further whether additional refinements to the conduct are necessary before making a final decision.

The ACCC is seeking to ensure sufficient oversight and transparency of the arrangements and to appropriately limit the circumstances and contents of any information sharing.

“With the proposed conditions, we are satisfied that the collaborative conduct is likely to result in public benefits that would outweigh any likely harm to competition,” Mr Keogh said.

The ACCC is seeking submissions in response to the draft determination by 2 May 2025 before making its final determination.

Further information about this application including a copy of the decision is available on the ACCC’s public register.

Background

ASFI is a collaboration between representatives of the Australian financial sector, civil society, academia, and financial regulators. Membership is voluntary and open to any corporation in the financial services sector or service provider to financial institutions which is interested in pursuing and supporting ASFI’s objectives.

The Department of Foreign Affairs and Trade (DFAT) has provided the Australian Sustainable Finance Institute with a grant to undertake the ‘Institutional Investor Engagement (Indo-Pacific)’ project to draw private investment into development outcomes in the Indo-Pacific region, including through supporting the development of DFAT’s blended finance portfolio.

The ACCC granted interim authorisation to the ASFI and its member banks on 7 March 2025, allowing them to discuss and exchange information for the purpose of developing potential banking capital requirement reforms to remove constraints on sustainable finance and investment in Australia. Interim authorisation will remain in place until the final determination comes into effect.

Notes to editors

ACCC authorisation provides statutory protection from court action for conduct by competitors that might otherwise raise concerns under the competition provisions of the Competition and Consumer Act.

Broadly, the ACCC may grant an authorisation when it is satisfied that the public benefit from the conduct outweighs any public detriment.

In December 2024, the ACCC released its guide on sustainability collaborations and Australia competition law to inform businesses and other entities about the interaction between Australian competition law and sustainability collaborations.

Be aware of SMSF schemes

Source: New places to play in Gungahlin

We have seen individuals be targeted by promoters to create an SMSF for inappropriate and illegal reasons. These promoters often promise high returns or early access to super.

These schemes can be illegal and result in severe penalties. It’s important to recognise these warning signs of unlawful tax and super schemes.

Stop, check and protect:

  • do your own research (check before investing)
  • don’t rush to make a quick decision
  • check ASIC’s financial advisers registerExternal Link to make sure your adviser is licensed, know who you are dealing with and confirm their registration
  • if it sounds too good to be true it usually is
  • request copies of all documents including such things as investment plans and read all documents before signing.

You should consider how any arrangements may impact your SMSF and whether they contravene the tax and super laws.

If you’ve been approached by a promoter or suspect a unlawful tax or super scheme, you can report it, by completing the tip off form or by contacting us on 1800 060 062.

We work with ASIC to investigate scamsExternal Link and promoters involved in illegal activities in the super environment.

For more information visit SMSF schemes.

Looking for the latest news for SMSFs? – You can stay up to date by visiting our SMSF newsroom and subscribingExternal Link to our monthly SMSF newsletter.

Minimum pension drawdown reminder

Source: New places to play in Gungahlin

A self-managed super fund (SMSF) must pay a minimum amount each year to a member who is receiving a pension that commenced on or after 20 September 2007. These are mainly account based pensions (also known as a super income stream).

If you haven’t already, then you’ll need to make sure all members receiving an account-based pension are paid their minimum pension amount by 30 June. This is calculated by applying the relevant percentage factor based on the member’s age by the member’s pension account balance calculated as of 1 July 2024 or on a pro-rata basis if the pension commenced part way through the 2024–2025 financial year.

If the minimum payment is not made by 30 June, this could result in adverse taxation consequences for the member.

You can learn more about how to calculate your member’s minimum pension payment by visiting minimum pension standards.

Looking for the latest news for SMSFs? – You can stay up to date by visiting our SMSF newsroom and subscribingExternal Link to our monthly SMSF newsletter.

Youths charged in relation to deliberately lit fires in Claremont

Source: New South Wales Community and Justice

Youths charged in relation to deliberately lit fires in Claremont

Thursday, 17 April 2025 – 11:15 am.

Police have charged a 17-year-old from Bridgewater, and a 16-year-old from Herdsmans Cove, in relation to deliberately lit fires in Claremont on 10 March.  
Police will allege the youths deliberately lit fires which damaged recycling facilities at Claremont Plaza, and the door of a Claremont hall.  
They were bailed to appear before the Youth Justice Court at a later date.  
Police thank members of the community for the witness information provided which assisted the investigations. 

Bolivia

Source:

We continue to advise exercise a high degree of caution in Bolivia due to the threat of violent crime and the risk of civil unrest. Political and civil tensions are ongoing, and events can be unpredictable. Large-scale political demonstrations, protests and events can occur with little warning, which may also result in travel disruptions. Protest activity will likely increase in the lead-up to the 17 August election. Avoid demonstrations and protests. Monitor the media and follow the advice of local authorities (see ‘Safety’).

While not compulsory, you may be asked to show proof of your yellow fever vaccination at some ports of entry in Bolivia. Some airlines may want to see it when you leave (see ‘Travel’).

Man charged with drug-related offences following search in Scottsdale

Source: New South Wales Community and Justice

Man charged with drug-related offences following search in Scottsdale

Thursday, 17 April 2025 – 9:53 am.

A 51-year-old man has been charged with multiple drug-related offences including trafficking in a controlled substance following a search at a residence in Scottsdale on Tuesday afternoon.  
During the search, Scottsdale Police allegedly located approximately 1.5 kilograms of cannabis in various forms.  
The man will be proceeded against for trafficking in controlled substance, supplying controlled plant products, cultivating controlled plants, possessing controlled plant products and possessing things used for the administration of a controlled drugs.  
He will appear in the Scottsdale Magistrates Court at a later date.  
Anyone with information about illicit substance is asked to contact police on 131 444 or Crime Stoppers Tasmania on 1800 333 000 or at crimestoppers.com.au – information and be provided anonymously.  

Police call for egg-cellent driving this Easter

Source: New South Wales Community and Justice

Police call for egg-cellent driving this Easter

Thursday, 17 April 2025 – 9:53 am.

Tasmania Police’s Easter road safety blitz, Operation Safe Arrival, begins today, running statewide throughout the Easter holiday period.
Assistant Commissioner Adrian Bodnar said dangerous driving behaviours remain the top priority for enforcement.
“Tasmania Police will be actively looking out for everyone on our roads this Easter, and we’re calling on motorists to behave egg-cellently,” he said.
“Easter in Tasmania means colder and wetter weather is on the horizon, more people are travelling on our roads, and extra caution is essential to prevent crashes.”
“As a driver, reduced visibility and slippery roads demand slower speeds and an increased awareness of what’s going on around you.”
Operation Safe Arrival will feature both high-visibility and covert patrols across Tasmania’s highways, main roads, rural routes, and back streets. 
“Sometimes you’ll see us – and sometimes you won’t, as we use both overt and covert measures,” said Assistant Commissioner Bodnar.
“My message today isn’t a new one; keeping Tasmanian roads safe is a mission for the whole community.” 
“Play your part by adapting your driving to match changing weather conditions, obey the road rules and report dangerous driving when you see it.”
“Anyone who witnesses dangerous driving behaviour should report it immediately to police on 131 444 to enable officers to respond in a timely way.”
“If it’s an emergency or life-threatening situation call Triple Zero (000).”
“If you can’t report it at the time but have footage, submit it to the police evidence portal online.”
The evidence portal can be found at https://www.police.tas.gov.au/report/

Easter long weekend national forecast

Source: Australia Safe Travel Advisories

16/04/2025

Issued: 16 April 2025

The Easter long weekend is expected to start off with warm weather across most of Australia but throughout the 4-days, a cold front is likely to cross the south.

The cold front will be moving across southern Western Australia on Friday, before reaching the south-east from Sunday, leading to lower than average temperatures across the southern states.

Senior Meteorologist Angus Hines said while conditions could still change, early forecasts allow Australians to start planning their Easter weekend.

“There will be a distinct change in the weather for the southern states during the long weekend as hot, dry and sunny weather shifts to cool, cloudy conditions with patchy showers and the outside chance of thunderstorms,” Mr. Hines said.

“Southern Western Australia will already be feeling the cooler winds by Friday, but for South Australia, Victoria and Tasmania, it’s likely to be Sunday when the weather shifts, while New South Wales and ACT hold onto the sunny and hot conditions until Monday.”

“Rainfall from this passing weather system will be quite patchy during Easter, and on the whole, the rainfall totals will be low.”

A deep low pressure system in the Tasman Sea will also generate large and powerful surf and swell across the New South Wales coast and offshore islands, including Norfolk and Lord Howe Island.

“This low pressure system is very powerful, although it’s a long way offshore. This low will not impact our weather directly but will generate some very large, powerful waves for eastern Australia,” Mr. Hines said.

“These waves will build on Thursday and stay high until Saturday. Coastal hazard and hazardous surf warnings are likely to be issued. Given the fine and hot forecast for the east coast during Friday and Saturday, the community needs to be aware of the dangerous coastal conditions.”

In the west, heavy rain is possible for the northern Western Australia coast if the remnants of Tropical Cyclone Errol move onshore.

“From Thursday, Tropical Cyclone Errol could steer south-eastwards back towards the coast. While it is forecast to weaken, while doing so, it may bring impacts such as heavy rain, thunderstorms and damaging wind to parts of the Kimberley and Eastern Pilbara over the weekend.”

The Easter weekend will be warm across most of the Northern Territory, with some cooler than average conditions pushing into the far south from Easter Sunday.

“While the Top End will be mostly dry through Easter, patchy rain is possible through parts of the western districts as moisture pushes in from the Kimberley.”

While a sunny and dry Easter is expected across Queensland, widespread major flooding continues for south-west Queensland, north-east South Australia and northern New South Wales.

“Significant flooding is likely to continue for weeks to come, as floodwaters move slowly downstream.”

Keep up to date with the latest weather warnings and forecasts over the Easter long weekend on the Bureau’s website www.bom.gov.au or via the BOM weather app.

If you are travelling these school holidays, be sure to enable notifications for your chosen locations in the BOM Weather app.

To hear a state and territory breakdown audio news release with Bureau Senior Meteorologist Angus Hines, click here.

Check the forecasts for your area on the Bureau website:

[ENDS]

Ulumbarra Theatre turns 10 today!

Source: New South Wales Ministerial News

Ulumbarra Theatre marks a significant milestone today celebrating its 10th anniversary as a world-class performing arts venue and vibrant cultural hub within the walls of the historic Sandhurst Gaol.

Over the past decade, Ulumbarra has welcomed approximately 765,000 visitors and hosted over 2,500 events, ranging from major productions like Richard Wagner’s Ring Cycle and national and international touring acts to local shows and school performances.

The name Ulumbarra means ‘gather together’ or ‘meeting place’ in the language of the Traditional Owners of the land, the Dja Dja Wurrung people.

As a leading regional arts and community venue, Ulumbarra has played a pivotal role in shaping central Victoria’s cultural landscape. The award-winning theatre, designed by local architecture firm Y2, is a stunning fusion of heritage-listed architecture and contemporary design within the historic Sandhurst Gaol (which operated from 1863 to 2004).

Red brick prison guard towers and an impressive façade frame the stunning theatre entrance. Inside the theatre, the box office is housed in a repurposed prison cell block and visitors can walk under the gangway and peer into prisons cells that remain intact. The theatre’s clever 950-seat design ensures a fantastic experience for every audience member, and other areas in the theatre serve as a hub for community events, art exhibitions, conferences, festivals and student programs.

Mayor Cr Andrea Metcalf said Ulumbarra’ s cultural impact on Greater Bendigo had been extraordinary.

“Ulumbarra has enriched our region’s arts and culture scene over the past decade, hosting national and international artists, touring theatre companies, whilst also serving as a space for learning, expression, and a strong community connection through the arts,” Cr Metcalf said.

“It is a testament to the strong collaboration and partnership between the City of Greater Bendigo, Bendigo Senior Secondary College and other key local stakeholders to drive this ambitious project for a shared arts and education facility.

“The theatre’s name, Ulumbarra, perfectly captures the spirit of this unique venue bringing the absolute best of art and culture. It’s a place where the community comes together in celebration, storytelling, and shared experiences. As a joint-use facility with Bendigo Senior Secondary College, it is also a place of learning that nurtures the love of live performances amongst younger generations.

“The theatre’s official opening on April 17, 2015, was marked by week-long celebrations including a gala event, a community concert, and a host of top-class performances.

“In 2025, we are thrilled to welcome back several national and international touring companies who performed here in our opening year, including Shake & Stir with 1984, Bell Shakespeare’s Romeo and Juliet, Circus Oz, Bangarra Dance Theatre, Sydney Dance Company, and Melbourne Symphony Orchestra.

“To have these outstanding companies return to our stage is a fitting way to mark this milestone and we look forward to welcoming our community and visitors to Ulumbarra throughout 2025 to share in the celebration of 10 years of performance, creativity, and connection.

“It’s a wonderful celebration for a venue that has become a cornerstone of cultural life in central Victoria.”

To browse forthcoming performances and shows at Ulumbarra, head to: 

Woman charged with drug offences in North West

Source: New South Wales Community and Justice

Woman charged with drug offences in North West

Thursday, 17 April 2025 – 9:19 am.

A 28 year old Montello woman has been arrested and charged after a targeted search by Western Drugs and Firearms, Taskforce Scelus and the Dog Handler Unit today.
About 1pm police executed a search warrant at a Montello address.
Approximately 130grams of methylamphetamine in addition to unlawful prescription medication, cannabis and a quantity of cash were located.
The woman was arrested and charged with several offences including trafficking in a controlled substance, dealing in property suspected of being proceeds of crime and selling a controlled drug.
The woman was bailed to appear in Burnie Magistrates Court in June.
Police would like to remind members of the public that if they have any information surrounding illicit drug possession and distribution to contact Crime Stoppers on 1800 333 000 or online at crimestopperstas.com.au. Information can be provided anonymously.
Police will continue to target and hold to account those involved in the distribution of illicit drugs within the community.