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 ...
On the 1st June 2009, the major parts of the Insolvency Act 2009 (“the Act”) came into operation. The Act has completely revamped the insolvency regime in Mauritius and new provisions now govern “voidable transactions” following a company liquidation. The “ordinary course of business” test, which was prevailing under the former regime, has now been abandoned and replaced by what is known as the “running account principle” ...
The “statutory demand procedure” is designed to provide a fast-track method of proceeding to the winding up of a company. It creates a presumption of insolvency. The Statutory Demand is still a basis to issue a winding petition on the ground of “inability to pay debts” as was the case under the 1984 Companies Act ...
CASE REVIEW The Federal High Court in the recent case of NOBLE DRILLING (NIGERIA) LIMITED V THE NIGERIAN MARITIME ADMINISTRATION AND SAFETY AGENCY (NIMASA) & THE MINISTER OF TRANSPORTATION, (Suit No. FHC/L/CS/78/2008) provides clarity on Sections 2, 5 and 22(5) of the Coastal and Inland Shipping (Cabotage) Act, Cap. C51, Laws of the Federation of Nigeria, 2004 (Cabotage Act) ...
A overview of natural Gas Sector and a brief outline of Nigeria’s natural gas sector, including a general description of: natural gas reserves; natural gas production including the extent to which production is associated or non-associated natural gas; import and export of natural gas, including liquefied natural gas (LNG) liquefaction and export facilities, and/or receiving and re-gasification facilities (“LNG facilities”); natural gas pipeline
bold">This paper considers the recent developments in Nigerian Ship Arrest Law. The Admiralty Jurisdiction Procedure Rules (AJPR) 2011 for the Federal High Court of Nigeria (FHC), and its effect on ship arrest practice. bold">The new AJPR 2011 (the New Rules) was made by the Chief Judge of the FHC(CJF) 1 on 1st March 2011 and came into force on 14th March 2011 ...
November 8, 2011- The Minister of Finance and Economic Development delivered his Budget Speech on the 4th of November 2011. The Budget aims at providing for innovative measures to support key economic sectors (such as ICT/BPO, Tourism, Financial Sector...) and new markets (renewable energies...). The Budget also provides for a National Resilience Plan to support the economy in a global economic downturn ...
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Israel’s taxation system has undergone a major reform since 2003. The Income Tax Ordinance was revised as of 2003 pursuant to which an Israeli resident is taxed on worldwide income rather than the previous territorial tax system. The Taxation of Trusts Law (the "Law"), effective as of January 1, 2006, while imposing taxes on Israeli residents with respect to trusts is advantageous to foreign residents. Israel is a major international business and financial center for non-residents ...
Over the years, Mauritius has proved to be a reputable and internationally recognised, competitive and dedicated global financial centre that attracts investors not only for its tax incentives and its numerous and advantageous OECD model double tax treaties ...
Readers familiar with South Africa’s associated ship arrest provisions will recall that in terms of sections 3(6) and (7) of the Admiralty Jurisdiction Regulation Act No. 105 of 1983, a ship, other than the one in respect of which the relevant maritime claim arose, may be arrested to enforce the claim or to obtain security for it ...
Newbuilding contracts: When does title in the ship pass from the shipbuilder to the shipowner? Can the parties agree to change when title will pass? Usually shipbuilding contracts are negotiated on standard forms such as the SAJ form produced by the Shipbuilders’ Association of Japan and the AWES form produced by the Association of European Shipbuilders and Shiprepairers ...
Apple’s recent US$ 1 billion damages award against Samsung was world news. In case you missed it, a California court found that Samsung had, in its Galaxy 10.1 smartphone, infringed various patents belonging to Apple ...
Traditionally investors have looked towards developed countries for investment opportunities and, more often than not, investment decisions have been based on the economic development and growth of such countries. However, recently investment strategies have shifted towards emerging markets rather than established markets and for this reason an ever increasing number of investors are turning their attention to the African market ...
UK Bribery Act: Serious Fraud Office publishes revised policies for facilitation payments, business expenditure and corporate self-reporting An important announcement for multinational organisations with business links in the United Kingdom. The Serious Fraud Office in the United Kingdom has published revised policies for facilitation payments, business expenditure and corporate self-reporting that take immediate effect ...
Supreme Court of Appeal tax cases often adopt a higher-than-normal threshold to support an exemption from, or a relaxation of, taxation. This is normally expressed as a rule that tax concessions are to be strictly construed ...
A sports agent by nature is a mediator or ‘go-between’ between the player, and in most instances, a sports club. In general, the agent provides a service, for example, the recruitment of a player, who will enter into a legal relationship with a club. Often a club will pay a sports agent a recruitment fee, which will normally include a signing-on fee that has to be paid over by the sports agent to the player ...
It’s well known that computer programs enjoy copyright protection - many have also been patented, but that’s another story and I’m not going to deal with that here. The South African Copyright Act has protected computer programs as a specific category of works since 1992, although prior to that they were protected as ‘literary works’ ...
