Force majeure provisions may come into effect if a circumstance(s) beyond the control of a party to a contract arises. The provisions, if properly drawn, enable a party to a contract to escape liability for failing to perform the contract as a result of the circumstance.
Under the Programme, liquidators of companies, to which advances have been made under the FEG, will be eligible to apply for litigation funding for the purposes of pursuing recovery proceedings and other litigation activities.
The Personal Property Securities Amendment (Deregulatory Measures) Act 2015 (Cth) (Deregulatory Measures Act) will soon come into effect as an amendment to the Personal Property Securities Act 2009 (Cth) (PPSA).