Since we are in the season for the distribution of dividends, it is not without use to review and update, our last charter on this issue. It shall be recalled that in 2005 the Portuguese tax system streamlined its rules for the taxation of dividends, by harmonising rates which previously varied in accordance to the nature of the recipient of the dividends ...
Several of the currently producing oil fields in the United States have been producing for approximately one hundred years while many other fields have long since ceased production having reached the end of their economic life. As the domestic oil and gas industry matures and many of the once productive fields become depleted, the industry faces what is arguably its most significant challenge ...
In this article, the authors address state-level law on water use and its possible effect on land use decisions. They then examine how federal water-related laws are increasingly impacting land use. Land use regulation, particularly zoning, has traditionally been considered a matter to be handled not by state or federal government but by local government— towns and counties ...
The European Commission's January report on the energy sector competition made uncomfortable reading for the European Union's Council of Energy Ministers, who were presented with it in February and considered its proposals at the EU summit in March.The clear message from the Commission is gas and electricity is too expensive ...
Currently Romania’s market is characterized by the implementation of two seemingly opposite sets of actions, one aimed at ensuring Romania’s transition to the market economy and the achievement of economic growth, while the other is targeting the environmental protection through promotion of energy efficiency and use of renewable energy sources for electricity generation ...
On February 27 British Columbia issued “The BC Energy Plan: A Vision for Clean Energy Leadership” (Energy Plan 2007). The document is an extensive statement of provincial energy policy, and a roadmap for future government action in BC’s energy sector ...
This paper was presented at The Canadian Institute’s 2nd Annual Oil & Gas Law Summit Overcoming the Regulatory Challenges and Uncertainties to Keep Your Project on Track on January 22 – 23, 2007 in Calgary, Alberta. Oil and gas exploration in Canada’s North has a long history that dates back to the oil well drilled in Norman Wells in 1920. The North is recognized as holding a significant portion of Canada’s potential for undeveloped oil and gas ...
A record number of companies applied for petroleum licences during the latest and 24th Licensing Round. As a result, it is envisaged that the much-awaited announcement of the successful applicants will kick-start the next phase of the development of the already mature UK Continental Shelf (UKCS) sector ...
If you are a business owner-leader whose years of hard labour earned him substantial wealth, you certainly wish to maximize the value of the assets that will be transferred to your heirs. You also want such transfer to proceed harmoniously and at the lowest tax cost possible. To achieve these goals, you must start to plan now ...
The Texas Commission on Environmental Quality (“TCEQ”) is accepting comments on a draft guidance document that addresses air quality emissions and regulatory compliance for storage tanks using floating roofs ...
Dramatic changes in global climate have helped to wake up the consciousness of States on the significance of environmental issues in the last fourty years. Before then countries focused their energies on relentless industrial development with little or no attention to its impact on the environment. Scientific evidence has shown that unbridled development leads to loss of environmental capital, sometimes an irreversible phenomenon ...
In November 2005, Energy Minister Malcolm Wicks was asked by the Prime Minister and Trade and Industry Secretary Alan Johnson to lead a Review of the Government's energy policy ...
Since the entry into force of the Freedom of Information Act 2000 and the Freedom of Information (Scotland) Act 2002 on 1 January 2005, the general public and those in business seem, by and large, to be well aware of the potential benefits of the legislation. Information covering a plethora of topics has been accessed and used for a huge variety of purposes ...
Canada’s Clean Air ActWhat it is notThe new federal strategy respecting greenhouse gas reduction was finally unveiled on October 19, 2006 with the presentation of Bill C-30 on air quality(1) and the release of the brochure entitled Canada’s Clean Air Act(2). A few days later, on October 21st, the Government published its Notice of Intent which outlines the measures that it intends to develop and implement to reduce air emissions 3) ...
For the many players in the oil and gas industry awareness of the regime for decommissioning offshore installations is increasingly important. Decommissioning is fundamental to petroleum operations and needs to be considered early, due to the various complexities involved. Many offshore installations in the North Sea have been operational well beyond their expected 25 year lifespan and are now up for decommissioning, although the recent high oil price granted a temporary postponement ...
The issue of coalbed methane (CBM) ownership, frequently disputed between coal rights holders and holders of mines and minerals rights other than coal, has been the subject of numerous recent applications to the Alberta Energy and Utilities Board (AEUB). The AEUB recently announced that it will hold a hearing relating to legal entitlement of CBM on split-title freehold mineral lands in Alberta ...
Following the amendments to the Inland Revenue Ordinance earlier this year, the Inland Revenue Department ("IRD") issued its Departmental Interpretation and Practice Notes ("DIPN") No. 43 on 6 September 2006. Whilst the Inland Revenue Ordinance ("IRO") laid down the legal foundation in respect of the Hong Kong profits tax exemption for unauthorised funds, DIPN 43 provides some practical guidance on the application of the exemption ...
In the world of information legislation in Scotland, the Freedom of Information (Scotland) Act 2002 ("FOISA") reigns supreme. But is this Act the most appropriate tool to use in all circumstances? The answer is most definitely no. Lurking behind this headline Act are two pieces of other information-related legislation that, in many circumstances, are more powerful tools to access and use certain information ...
This paper was first published by the Rocky Mountain Mineral Law Foundation, Volume XXIII, Number 2, 2006. Chris Baldwin, Canada mining reporter for the Mineral Law Newsletter, is a partner and Megan Kaneen is an articled student with Lawson Lundell LLP In Vancouver, British Columbia; Behn Conroy and Laurel Petryk are associates with Lang Michener in Toronto, Ontario, and Vancouver, British Columbia, respectively ...
The effects of the singular interpretation of the EC Treaty that the Court of Justice has been reinforcing for many years whilst assessing the compatibility of income tax legislation of the Member States with that Treaty, are now beginning to be felt, and to a considerable degree, here in Portugal ...
Recently, in 2005, the Portuguese tax system streamlined its rules for the taxation of dividends, by harmonising rates which previously varied in accordance to the nature of the recipient of the dividends. This, along with the introduction of some provisions aimed at dealing with schemes that used exempt entities to evade tax, helped to turn the taxation of dividends more coherent and simple ...
In its 1993 decision in U.S. v. Rohm & Haas, the Third Circuit held that EPA could not recover CERCLA oversight costs for supervising a private party removal action. The Court reasoned that the U.S. Supreme Court’s decision in National Cable Television Ass’n, Inc. v. U.S. barred recovery of such costs “unless the statutory language clearly and explicitly requires that result ...
On February 28, 2006, Michigan enacted water management legislation giving the State greater control over large quantity water withdrawals. The laws create for the first time a waterextraction permit system and user fees for largescale withdrawals from inland and Great Lakes water sources. They also impose special requirements on water bottlers ...
Aboriginal rights, title and treaty issues are one of the most significant legal issues currently facing the oil and gas industry in Western Canada. This paper provides an overview of the current legal context respecting aboriginal rights, title and treaty issues in Western Canada and its impact on the oil and gas industry. It also includes some comments on one commonly used means to reduce uncertainty in relation to consultation issues, namely, impact and benefit agreements ...
