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ARTICLE · 19 DECEMBER 2013

Privacy reforms to impact offshore share incentives for Australian employees

DLA Piper Australia
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Privacy reforms increase the obligations of offshore employers in managing employee share plans for Australian employees.

AustraliaPrivacy
Alec Christie
Alec Christie
David Morris
David Morris
Nicole Sloggett
Nicole Sloggett

The changes to the Privacy Act 1988 (Cth), including the introduction of the new Australian Privacy Principles (APPs), significantly increase the obligations imposed on an offshore parent or related entity that collects or deals with personal information from Australian residents (ie employees) in connection with managing employee share incentive plans (Plans).

When the reforms become effective on 12 March 2014, many of the current practices of overseas entities that offer Australian employees the ability to participate in Plans will not, for information collected from 12 March 2014, be compliant with Australian privacy law and will need to be changed.

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