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New Ministerial Decision brings clarity to Private Joint Stock Companies
Afridi & Angell, September 2017

The private joint stock company is one of the forms of company contemplated by UAE Federal Law No. 2 of 2015 concerning commercial companies (the Companies Law). The UAE Federal Ministry of Economy has now promulgated Ministerial Decision No. 539 of 2017 (the Ministerial Decision) which was issued on 29 May 2017 and is now in force, and expressly abrogates Ministerial Decision No...

New Uganda Insurance Act to overhaul industry
ENSafrica, September 2017

The Insurance Act, 2017 (the “Act”) has recently been enacted to reform the law governing insurance in Uganda. The purpose of the Act is to bring Uganda’s insurance law in line with the Insurance Core Principles (“ICPs”) developed by the International Association of Insurance Supervisors and the Financial Action Task Force recommendations on combating money laundering and countering the financing of terrorism...

Guidelines on Related Party Transactions for Insurers in the Philippines
SyCip Salazar Hernandez & Gatmaitan, September 2017

The July 2017 issue of the Asian Legal Business (ALB) includes a Philippine regional update by SyCipLaw partner Hiyasmin H. Lapitan and associate Jo Margarette W. Remollo entitled, “Guidelines on Related Party Transactions for Insurers in the Philippines”. The article summarizes the Insurance Commission’s compliance guidelines on related party transactions, as set out in Insurance Circular Letter No. 2017-29...

The European, Middle Eastern and African Antitrust Review 2018 - Israel: Overview
Fischer Behar Chen Well Orion & Co., September 2017

 The Restrictive Trade Practices Law, 5748-1988 (the Law) is the primary law dealing with antitrust issues in Israel and its objective is to prevent harm to competition or the public. The Law contains the substantive rules that apply to the various restrictive trade practices (restrictive arrangements; mergers; monopolies; concerted groups)...

Draft South African protection of personal information regulations have arrived
ENSafrica, September 2017

The long-awaited draft South African Regulations Relating to the Protection of Personal Information, 2017 (the “draft Regulations”) were published today, 8 September 2017. Direct marketers have been speculating for years about the manner and form that the regulations will take under section 69(2) of the Protection of Personal Information Act, 2013 (“POPI”)...

Hurricane Harvey: Checklist for Corporate Insurance Claims
Haynes and Boone, LLP, September 2017

In the days following Hurricane Harvey, tremendous attention has been appropriately placed on individual safety and rescue for the millions affected by the storm’s devastating winds and catastrophic flooding. Now the immediate emphasis for many corporate policyholders has turned to the practical challenge of repairing damaged property and restoring business operations suspended by the storm...

Asia Business Law Journal: "Build or Bust?"
SyCip Salazar Hernandez & Gatmaitan, September 2017

In its flagship report entitled Global Economic Prospects released in January, the World Bank observed: “The Philippines is particularly weak with regard to transport and trade-related infrastructure … with particularly low rankings for the quality of its seaports and airports. About one-quarter of the population remains without electricity.” Yet growth in the Philippines is projected to accelerate to 6...

Mexican Ministry of the Environment Publishes Guidelines for Protection and Conservation of Waters in Unconventional Blocks
Haynes and Boone, LLP, September 2017

The Ministry of Energy has announced that before the end of the Peña Nieto Administration on December, 2018, the National Hydrocarbons Commission (CNH) will call the fifth bid of Round 2 (commonly known as Bid 2.5) for the award of exploration and production contracts for onshore blocks, which will include unconventional or shale blocks...

Bidding Qualifications for Taiwan's Mega Infrastructure Program (Part I)
LCS & Partners, September 2017

After getting the knowledge of GPA Model and PPP Model, the bidders need to know how to make preparation during the pre-bid stage. Following are the responses to some most frequently asked questions regarding bidding qualifications, based on which the foreign bidders can make its preparation plan...

Force Majeure in the Aftermath of Hurricane Harvey
Haynes and Boone, LLP, September 2017

As Hurricane Harvey continues to cause far-reaching disruptions, it is important to understand how to effectively assert or respond to assertions of force majeure. This summary outlines the steps to take to assert force majeure, and initial considerations for those who have received several notices of force majeure from counterparties...

Grey market goods – a crime?
ENSafrica, September 2017

The terms “exhaustion of rights”, “parallel imports” and “grey market goods” come up a lot in the world of trade marks. They generally arise in relation to the fact that a company that has authorised the manufacture and sale of goods under its trade mark can’t use trade mark law to stop the sale of those goods by parties with whom it may have no relationship. This issue tends to come up in the context of international trade...

Preparing for Hurricane Irma: Insurance May Help Weather the Storm
Hunton & Williams LLP, September 2017

Types of Weather-Related Losses for Which Insurance May Be Available Different businesses are affected differently by the same storm, and even the same physical damage. For instance, a physical loss to a part supplier caused by flooding or a lost roof might impact that business as a physical property loss and as a consequential loss of business income. That same event might also indirectly impact a product manufacturer that relies on the part supplier for components to its product...

Mozambique: beware of trade mark registration cancellations due to overdue declarations
ENSafrica, September 2017

Owners of trade marks in Mozambique should take heed of recent developments in IP rights in the country. While the code governing IP rights in Mozambique does not specifically provide for the cancellation of a trade mark based on non-use, it does require that the proprietor of a registered trade mark file a declaration of intent to use the mark every five years from the date of registation or renewal...

Amendments to the Mexican Securities Markets Regulations
Haynes and Boone, LLP, September 2017

On August 11, 2017, the Mexican Securities and Exchange Commission (Comisión Nacional Bancaria y de Valores, the “CNBV”) published amendments to the Mexican Securities Markets Regulations. The amendments cover a number of topics, including: 1. Changes to Disclosures by Issuers...

Trade mark owners: making “tits” of themselves
ENSafrica, September 2017

If we keep writing about it, it’s because it keeps happening. I refer here to trade mark infringement claims that make the news for all the wrong reasons – claims that attract shock and ridicule and evoke support for the person who’s supposed to be the “bad guy”. Interestingly, one of the common terms used by trade mark owners who make these claims is “tarnishment”...

Export Development Canada's "First 5 Calls: Philippines"
SyCip Salazar Hernandez & Gatmaitan, September 2017

From a regulatory and legal point of view, what do Canadian companies need to know about doing business here? The Philippines is a party to several treaties, including a tax treaty that applies to Canadian suppliers that want to sell goods to the Philippines. There are special laws for investors depending on the type of activity they plan to engage in. Manufacturers and companies in the renewable energy sector could be entitled to tax incentives...

An online store called Glamazon
ENSafrica, September 2017

There’s an interesting trade mark case brewing in Australia, one that has some useful trade mark lessons.Online retail giant Amazon is opposing a trade mark application filed in 2015 by an Australian clothing retailer, Live Clothing, to register the trade mark Glamazon for retail services, including those relating to clothing. On the face of it, this case looks like an absolute “slam-dunk” for Amazon. This case is, however, far from clear...

Supreme Court Clarifies Application of Procedural Requirements of Proposition 218 to Revenue Measures Adopted by Initiative
Hanson Bridgett LLP, September 2017

  On August 28, 2017, the California Supreme Court issued a 5-2 split decision in California Cannabis Coalition v. City of Upland, S234148. The Court held that a revenue measure proposed by citizen initiative is not “imposed by local government," and does not trigger the procedural limitations of Article XIII C of the California Constitution,[1] as a result...

Kim Kardashian West’s trade mark woes and the love-hate relationship between celebrities and IP
ENSafrica, September 2017

The worlds of celebrity and IP intersect with surprising frequency. On the one hand, celebrities such as sportsmen and entertainers can use IP to make themselves even wealthier. On the other hand, celebrities, especially those in fields such as music and film, need to be very aware of the IP rights of others. It’s probably also true to say that the fame and wealth that celebrities enjoy can make them targets for some pretty dodgy IP claims...

Resources for Healthcare Providers in the Aftermath of Hurricane Harvey
Haynes and Boone, LLP, September 2017

Hurricane Harvey has radically impacted every industry in southeastern Texas, including healthcare providers, who continue to analyze potential next steps in ensuring operations can resume so that they can further assist those in need of healthcare services. Below are several links to resources that may be helpful for healthcare providers attempting to navigate through their options...

BSAAML Enforcement, Things Are Getting Personal
Waller, August 2017

The financial exploitation of elders is a hot topic in state legislatures, with the federal government, and in the media. In the first few months of 2017 alone, media reports from Gadsden, Fairhope and Dothan chronicle four cases of financial exploitation, with losses in each case ranging from $20,000 to $100,000 over short periods of time. The perpetrator in each case was a family member of the victim...

Hurricane Harvey: Employer Considerations in Office Closures and Reopenings
Haynes and Boone, LLP, August 2017

Whenever emergency situations such as Hurricane Harvey cause office closures and such offices are subsequently reopened, Texas employers must remember several points to stay compliant with employment laws. In general, employees who are classified as exempt from the Fair Labor Standards Act’s minimum wage and overtime provisions must be paid a salary each week...

Compliance with the Protection of Personal Information Act: Are You Ready?
ENSafrica, August 2017

The Protection of Personal Information Act, 2013 (or “POPI” as it has colloquially become known) promotes the protection of personal information by requiring that public and private bodies comply with certain standards when collecting, processing, storing and sharing personal information. While POPI has yet to come into effect, there have been some developments moving it closer to implementation...

Special Edition Benefits Alert: Hurricane Harvey
Haynes and Boone, LLP, August 2017

IRS provides Retirement Plan Loan and Hardship Distribution Relief for Harvey Victims The IRS has released Announcement 2017-11 providing relief from some of the loan and hardship distribution requirements under qualified retirement plans (including Code Section 401(a) and 403(b) plans) for the period of August 23, 2017 through January 31, 2018. The relief applies to employees or former employees either (i) whose principal residence on Aug...

New Maritime Policy Approved to Develop the Maritime Transport Sector
ENSafrica, August 2017

In recent months, the South African Minister of Transport gave notice that Cabinet had approved the Comprehensive Maritime Transport Policy, 2017 (“CMTP”). The CMTP makes certain policy statements in order to develop South Africa’s maritime industry. Below, we summarise certain policy statements that relate to the more commercial aspects of shipping, in the order in which they are dealt with in the CMTP...

Hurricane Harvey and Price Gouging: Considerations for Franchisors
Haynes and Boone, LLP, August 2017

In the wake of Hurricane Harvey, franchisors should take action to avoid potential liability for price gouging committed by franchisees in affected areas. Price gouging occurs when a seller increases prices of goods, services or commodities to a level that is exploitive and unethical. Texas law explicitly prohibits price gouging following a natural disaster, and fines for price gouging can be up to $20,000 per violation...

Position of Russian Federal Tax Authorities in respect of currency control regulation
ALRUD Law Firm, August 2017

Position of Russian Federal Tax Authorities in respect of currency control regulation August 29, 2017 Dear Ladies and Gentlemen, This is to inform you that Federal Tax Authority of the Russian Federation published the Letter no. 3-H-3-17/5523@ dated July 16, 2017, in respect of the position regarding legitimacy of transactions of Russian residents on their foreign bank accounts which were not declared to the local tax authorities (the “Letter”)...

Hurricane Harvey: TCEQ Guidance for Hurricane Harvey
Haynes and Boone, LLP, August 2017

By August 23, 2017 Proclamation, the Governor of the State of Texas declared that Tropical Depression (now Hurricane) Harvey poses a threat of imminent disaster in 30 counties in and around the Texas coast beginning August 23, 2017. In response, the Executive Director of the Texas Commission on Environmental Quality (TCEQ), in a press release, directed regulated entities to its guidance at https://www.tceq.texas.gov/response/hurricanes...

Maritime Law in the Wake of the Unmanned Vessel
Advokatfirmaet Simonsen Vogt Wiig AS, August 2017

Unmanned vessels are no longer a futuristic concept, but a reality. In Norway, several projects involving the testing of unmanned vessels are currently ongoing. It is only a question of time before we see unmanned vessels operating in international waters. In this article we will first look at ongoing projects in Norway and the challenges faced from a national law perspective...

Hurricane Harvey and Insurance Coverage: Protecting Your Statutory Rights Before September 1st
Haynes and Boone, LLP, August 2017

As Hurricane Harvey continues to sweep the Texas coastline and destroy property in its path, insureds should take action before September 1st to protect their statutory rights and avoid the changes made under House Bill 1774, also referred to as the “Hail Bill,” which take effect September 1, 2017. The Hail Bill adds “Chapter 542A - Certain Consumer Actions Related to Claims for Property Damage” to the Texas Insurance Code...

EPA's Recommendations to Jump-Start Superfund
Lowenstein Sandler LLP, August 2017

The United States Environmental Protection Agency (“USEPA”) Administrator Scott Pruitt has created a Superfund Task Force...

"Limiting Liability Exposure for a Private Family Trust Company" by John Bunge Waller Private Family Trust Company Research
Waller, August 2017

Provisions in a trust instrument can expressly limit and define the scope of the PFTC’s fiduciary duties, including the Prudent Investor Rule and the duty to inform and report. Generally, the ability to limit fiduciary duties is subject to “mandatory” rules dictated by state statutes or common law. Some states have stringent mandatory rules, while other states seek to maximize the trust settlor’s freedom of disposition and freedom of contract...

Illegal Gambling Regulation (Philippines)
SyCip Salazar Hernandez & Gatmaitan, August 2017

Earlier this year, Executive Order no 13, which aims to strengthen the fight against illegal gambling in the Philippines, was issued. EO No. 13 mandates relevant law enforcement agencies to coordinate on campaigns against illegal gambling, and clarifies the territorial jurisdiction of government authorities that issue licenses for gambling and online gaming facilities...

New regulations allow for bancassurance in Uganda
ENSafrica, August 2017

The Insurance (Bancassurance) Regulations, 2017 were recently gazetted, giving effect to bancassurance under the Insurance Act, 2017 (which is yet to commence) and the Financial Institutions Act, 2004.The introduction of Bancassurance in UgandaBancassurance refers to an arrangement where an insurance company uses a bank’s sales channels to sell insurance products...

The Polluter Does Not Always Pay
Shoosmiths LLP, August 2017

  Local authorities will welcome a decision by the Court of Appeal that Powys County Council is not liable for contamination caused by a former landfill site operated by its predecessor. However, the decision is not such good news for landowners. Background Mr Price and Mrs Hardwick own a farm near Builth Wells in mid-Wales...

Getting the Deal Through: Aviation Finance & Leasing 2017
SyCip Salazar Hernandez & Gatmaitan, August 2017

SyCipLaw Partners Imelda A. Manguiat and Carina C. Laforteza, Senior Associate Bhong Paulo A. Macasaet, and Associate Maricar G. Ramos contributed the Philippine chapter of Getting the Deal Through: Aviation Finance & Leasing 2017. The chapter addressed pivotal questions about air law and aviation financing and leasing. The scope and rules and regulations of owning, leasing, securing, financing and operating an aircraft were also discussed...

A Lawyer's Struggle to Overcome Barriers and Live by Ideals in the Practice of Law
Patterson Belknap Webb & Tyler LLP, August 2017

There are few things more important today than lawyers willing to serve their communities - whether its people of color or immigrants or anyone pursuing freedom of speech, religion or from oppression. We’re living in extraordinary times. The ability to earn a legal education and serve a greater good has rarely been more important than it is today. My law school''s library and classrooms were my home away from home...

Regulatory Immigration Framework: Options to immigrate and work in Panama
Morgan & Morgan, August 2017

Introduction. Panama has become a popular destination to immigrate in the region, due to its economic growth and socio-political stability which contrasts with other neighboring countries´ intricate conditions. Within the last decade, multiple infrastructure projects, as well as incentives favorable to establish and operate multinational companies have resulted in an increase of foreign nationals within the country, creating a multi-ethnic and multi-cultural society...

VAT Wrongfully Charged on Radio and TV Licence Fees
Plesner, August 2017

 In Denmark, SKAT charges VAT on radio and TV licence fees. Households pay a licence fee to the Danish Broadcasting Corporation (DR), which then pays the VAT amount to SKAT. The VAT amount makes up 20 per cent of the total licence fee.Last year, the Court of Justice of the European Union held that it was unlawful to charge VAT on licence fees in a case concerning Czech radio licence fees...

New Way of Claiming Damages for Competition Law Infringements in Croatia
Karanovic & Nikolic, August 2017

New Way of Claiming Damages for Competition Law Infringements in Croatia News Karanovic & Nikolic On the 22nd of July, 2017, the Law on Actions for Damages for Competition Law Infringements came into force in Croatia (the "Law"), implementing the EU Damages Directive...

SEC Expands Use of Confidential IPO Filings
Lowenstein Sandler LLP, August 2017

On June 29,2017, the Securities and Exchange Commission (SEC) announced that it will permit all companies to confidentially submit draftregistration statements for review under the Securities Act...

Dismissal of 62-Year Old Teacher Did Not Constitute Discrimination
Plesner, August 2017

In a decision made earlier this year, the Board of Equal Treatment established that the dismissal of a 62-year old teacher did not constitute discrimination on the grounds of age. The board found it proven that the teacher''s competence profile could best be dispensed with in connection with the educational institution''s forward-looking need to cover lessons with a reduced number of teachers...

Closing window for tax and exchange control relief
ENSafrica, August 2017

The window period for South African residents to regularise their unauthorised foreign assets under the Special Voluntary Disclosure Programme (“SVDP”) closes on 31 August 2017. The current SVDP is the latest in a series of such opportunities offered by the Financial Surveillance Department of the South African Reserve Bank (“SARB”), beginning with the 2003 exchange control amnesty...

Do the Proceeds From the Sale of Farmland Constitute Income From Farming?
Stout, August 2017

  In 2009, the members (Mark Rutkoske and Felix Rutkoske) of an LLC holding 355 acres of farmland conveyed a conservation easement to a public charity for $1,504,960. The Rutkoske brothers believed that the sale of the conservation easement was for a bargain purchase price and claimed $1,335,040 for the bargain element of the transaction based on an appraisal...

South Africans working abroad – proposed removal of tax exemption
ENSafrica, August 2017

On 19 July 2017, the South African National Treasury released the 2017 Draft Taxation Laws Amendment Bill (“draft TLAB”) for public comment. One of the proposals contained in the draft TLAB is the deletion of the exemption for foreign employment income contained in section 10(1)(o)(ii) of the Income Tax Act, 1962 with effect from 1 March 2019...

Trump Administration and Republican Senators Announce Proposed Immigration Legislation: The RAISE Act
Haynes and Boone, LLP, August 2017

On August 2, 2017, President Trump and Senators David Perdue (R-GA) and Tom Cotton (R-AR) announced an immigration bill, which would profoundly amend and re-structure the Immigration Nationality Act...

Retrospective country-by-country reporting and transfer pricing documentation requirements
ENSafrica, August 2017

South Africans who think that their tax burden is going to decrease because country-by-country (“CbC”) reporting does not apply to their company should think again!In addition to the recently released draft notice requiring the submission of CbC reports, master file and local file returns, the South African Revenue Service (“SARS”) has recently issued the External Business Requirements Specification (“BRS”) document, setting out CbC and Financial Data

Two Bidding Models - Access to Taiwan's Mega Infrastructure Program
LCS & Partners, August 2017

Design of the Models Taiwan law provides for two models for private parties to participate in governmental infrastructure projects. One is the model under the Government Procurement Act (“GPA Model”) and the other is the Public-Private Partnerships Law (“PPP Model”). The most significant difference between the two models lies in the funding entity...

Mauritius Supreme Court delivers ground-breaking judgment in unfair competition case
ENSafrica, August 2017

The Mauritius Supreme Court, in a decision handed down on 9 August 2017 on the case of Emtel Ltd v The Information and Communication Technologies Authority & Ors, awarded over MUR524-million in damages under article 1382 of the Mauritius Civil Code as a result of the joint “fautes” of the Information and Communication Technologies Authority (the “Authority”), Mauritius Telecom Ltd (“MT”) and Cellplus Mobile Communications Ltd (“Cellplus”)...

New Tax Procedures Law in the UAE
Arendt & Medernach, August 2017

Earlier this year, the President of the United Arab Emirates (the “UAE”) issued the new Tax Procedures Law (the “Law”). This Law contributes to build the UAE’s tax system, to regulate the administration and collection of taxes and most importantly, to clarify the respective rights and obligations between the Federal Tax Authority (the “FTA”) and the taxpayer...

 

 

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