The 2020 Investment Priorities Plan (2020 IPP) has been promulgated by the Philippine President under Memorandum Order No. 50 dated November 18, 2020 (https://www.officialgazette.gov.ph/downloads/2020/11nov/20201118-MO-50-RRD.pdf), and it became effective on December 6, 2020. The IPP is issued pursuant to the Omnibus Investments Code of 1987 (Executive Order No. 226), as amended (Omnibus Investments Code) ...
On December 27, 2021, the National Development and Reform Commission (“NDRC”) and the Ministry of Commerce (“MOFCOM”) issued two revised versions of negative lists (collectively the “2021 Foreign Investment Negative Lists”), which came into effect on January 1, 2022: Special Administrative Measures (Negative List) for Foreign Investment Access (2021 Edition) (the “2021 National Negative List”) ...
On December 27, 2021, the National Development and Reform Commission (“NDRC”) and the Ministry of Commerce (“MOFCOM”) issued two revised versions of negative lists (collectively the “2021 Foreign Investment Negative Lists”), which came into effect on January 1, 2022: Special Administrative Measures (Negative List) for Foreign Investment Access (2021 Edition) (the “2021 National Negative List”) ...
In 2023, the U.S. Court of Federal Claims and the U.S. Government Accountability Office issued five bid protest decisions worthy of note: CACI -Federal v. U.S. Matter of Guidehouse Matter of Kupono Government Services LLC Myriddian LLC U.S. SH Synergy LLC U.S. This article provides summaries and discusses how these cases might shape future bid protests. 1. CACI The Facts In CACI, the protester in the U.S ...
In 2022, the U.S. Court of Federal Claims and the U.S. Government Accountability Office issued six bid protest decisions worthy of particular note. ASRC Federal Data Solutions LLC ESimplicity Inc. v. U.S. Hydraulics International Inc. v. U.S. IAP Worldwide Services Inc. v. U.S. MP Solutions LLC Trace Systems Inc. This article by Aron C. Beezley, Patrick R. Quigley, Sarah Sutton Osborne, Lisa Markman, Nathaniel J. Greeson and Gabrielle A ...
Although the deadline to transpose the Accounting Directive 2013/34/EU into Belgian law elapsed on 20 July 2015, the Belgian legislator failed to transpose the Accounting Directive on time. Nevertheless, Belgium’s Council of Ministers did approve a preliminary draft Act and a preliminary draft royal decree on 19 June. Subject to the Council of State’s further advice, it is likely that the transposition into Belgian law will take place in the coming months ...
The action of unjustified enrichment, also known as the actio de in rem verso, dates back to Roman Law and despite the fact that it was formally included in the Maltese Civil Code in 2007 by means of Article 1028A, it has always been accepted by the Maltese Courts. The notions of equity and fairness serve as the foundation of this action. One should be compensated for the benefit gained by an individual without a just cause to the detriment of the former ...
The Abu Dhabi Global Market has announced amendments to its Companies Regulations. The Companies Regulations 2020 (2020 Regulations) repeal the Companies Regulations 2015 (as amended). We have summarised below the key changes under the 2020 Regulations.Companies Regulations 2020 Effect of amendmentSection 3One of the ways in which a restricted scope company can be incorporated is if the founding members are a group of people who are from the same family (as approved by the Registrar) ...
Shoosmiths won increased provision for an adult child from her father's estate under the Inheritance (Provision for Family and Dependants) Act 1975, achieving all of the costs benefits of the Defendant’s failure to beat the Claimant’s Part 36 offer. Recorder Williamson QC heard the trial remotely over two days on 21 and 22 January 2021 in the Peterborough County Court. He handed down judgment on 2 February 2021 ...
We recently reported on a ruling of the new advertising authority in South Africa, the Advertising Regulatory Board (“ARB”). The dealt with the issue of misleading advertising. In this article, we’ll look at three more rulings that make it clear that the ARB deals with a range of important issues ...
On 22 May 2008, the Court of Appeal handed down its judgment in Dŵr Cymru's appeal against part of the CAT's judgement in the long running Albion Water case [FOOTNOTE: Dŵr Cymru Cyfyngedig v Albion Water Limited [2008] EWCA Civ 536 and [2006] CAT 23 and [2006] CAT 36]. The main subject of that appeal was the correct interpretation of the law on the abuse of margin squeeze ...
On March 25, 2020, Governor Jim Justice signed into law House Bill 4497, which shall be known as The Alex Miller Law. The Alex Miller Law will take effect June 5, 2020, but the mandated requirements do not take effect until the 2021-2022 school year. Alex Miller, was a Roane County football player who collapsed and died during a high school football game. The Alex Miller Law (W. Va. Code 18-5-25c) requires defibrillators (AED devices) at certain events by the 2021-2022 school year ...
In its most recent issue, For The Defense published an article by Dinsmore partner Richik Sarkar’s called "The Amicus Brief: An Efficient And Elegant Public Policy Tool." The article examines how, when properly employed, an amicus brief can be the best tool to effect lasting change for the benefit of the amicus and similar parties, industries, and legal interests. An excerpt is below ...
On 24 September 2020, Statistics Indonesia (Badan Pusat Statistik ─ “BPS”) issued BPS Regulation No. 2 of 2020 on Indonesian Standard Business Classifications (Klasifikasi Baku Lapangan Usaha Indonesia ─ “KBLI”), which is known as the 2020 KBLI. The 2020 KBLI came into force on its issuance date and revoked BPS Regulation No. 95 of 2015 on the KBLIs, as amended by BPS Regulation No. 19 of 2017, which is known as the 2017 KBLI ...
In the final part of our mini-series in dealing with DSARs, we look at the process of redacting when responding to a DSAR, and in particular, what information should be provided to an employee who has submitted a DSAR. Employees are increasingly seeking to raise DSARs within an employment context and in particular ahead of instigating legal proceedings. Responding to a DSAR can be a challenging, costly, and often time-consuming process ...
Should The Bahamas be at the forefront of cryptocurrency regulatory policy by implementing smart, flexible regulation that encourages the legitimate operators in the sub-sector to bloom or should we leave well enough alone?The Bahamas’ position in the landscape of the cryptocurrencies is a familiar one to many in the traditional financial services economy - they’ll know this story all too well with the growth, development, and decline of private banking: a new and exciting innovation
The Bahamas has passed legislation requiring that certain legal entities carrying on relevant activities have to demonstrate adequate economic substance in said jurisdiction. The beneficial owners of any company or limited partnership incorporated, registered or continued in The Bahamas should be aware of this legislation and consider how they may be affected. The Commercial Entities (Substance Requirements) Act, 2018 (“CESRA”) came into force on December 31st, 2018 ...
Chapter 43 Philippines Rafael A Morales1 I INTRODUCTION Banks in the Philippines are classified into (1) universal banks, (2) commercial banks, (3) thrift banks, (4) rural banks, (5) cooperative banks, (6) Islamic banks, (7) government-owned banks, and (8) other banks as may be classified by the Bangko Sentral ng Pilipinas (‘BSP’) ...
The financial services industry recently witnessed a plethora of competition investigations. The banking sector, in particular, has attracted the attention of competition watchdogs in an increasingly complex regulatory environment. Following an 18-month European sector enquiry, UK banks seem to have largely escaped the danger of significant enforcement actions, except possibly in relation to credit cards ...
Funding legal fees can be a worry and add to the pressure at an already stressful time. Accessing funds for legal fees may be difficult if assets are tied up, or income streams are for whatever reason inaccessible. We know that this can often lead to people going it alone and losing out on much needed expert advice; a decision that can have long lasting and costly implications. We recommend you consider the following options before deciding to go it alone ...
This article looks at what ESG means, what we really mean when we talk about ‘ESG lending’, and the types of ESG lending available. When people talk about ‘ESG Lending’ they’re often talking about sustainable lending - encompassing social loans, green loans and sustainability linked loans. Potentially available to all businesses, now is a great time to get familiar with these types of products, as well as the corresponding jargon ...
The introduction of the e-hailing system had changed the landscape of public transport in Malaysia and, at the same time, intensified the competition in the taxi industry. Whilst the taxi industry was subject to specific regulatory requirements there was previously no express law to regulate the operation of the e-hailing system ...
Over the last 4 years, the Belgian Competition Authority (“BCA”) has increasingly scrutinised anticompetitive restraints in vertical agreements and assessed these restraints under Article IV.1 of the Belgian Code of Economic Law and Article 101 TFEU ...
THE BENEFICIAL OWNERSHIP REGISTER: IMPLEMENTING THE FINANCIAL ACTION TASK FORCE’S RECOMMENDATIONS ON MONEY LAUNDERING AND TERRORISM FINANCING IN NIGERIA INTRODUCTION Section 119 of the Companies and Allied Matters Act (“CAMA”) 2020, in conjunction with the Persons with Significant Control Regulations (“PSC Regulations”) 2022, requires companies, Limited Liability Partnerships (“LLPs”), and by extension, foreign exempted companies under
