The State Council Information Office and the Ministry of Information Industry issued the Regulations for the Administration of Internet News Information Services on 25 September 2005. The Regulations, which entered into effect on the date of their promulgation, impose licensing and recordal requirements on providers of online news information services in China ...
The Wider Economic Environment In 1978, the Government of the People’s Republic of China embarked on a comprehensive program to reform China’s state-planned economy and introduce a free market economy. The new capitalist structures were initially intended to co-exist with the state-planned economy, but a massive surge in foreign investment has since stimulated the free market economy to eclipse the public sector in the industrialised south and eastern seaboard of the country ...
Great fanfare surrounded the introduction of the Freedom of Information Act and the Freedom of Information (Scotland) Act 2002 a year ago. The FOI legislation was hailed as a success in changing the culture of government. But while most public sector organisations have now come to grips with the workings of the FOI legislation, many have overlooked an associated set of regulations that came into effect at the start of this summer ...
On December 6, 2005 the British Columbia Supreme Court handed down its decision in the case of Hupacasath First Nation v. British Columbia(1). In this decision, the court held that Crown’s duty to consult with first nations, as articulated by the Supreme Court of Canada in Haida Nation(2) and Taku River,(3) extends to government decisions regarding planning, development and use of private land ...
This Order . which came into effect on 1 December 2005, facilitates the expansion of the electronic filing system in the Companies Registration Office. Companies may now appoint Electronic Filing Agents to sign and file documents with the CRO in electronic form. The Minister of State at the Department of Enterprise, Trade and Employment, Mr Michael Ahern, stated, “The introduction of a statutory Electronic Filing Agent will greatly simplify the process for companies and their agents ...
Judgement of the European Court of Justice in case C-287/03 – Commission v. Belgium, dated 12 May 2005 The decision follows an action of the Commission against Belgium for breach of Article 49 of the EC Treaty providing for the free movement of services. The Commission alleged that the way in which the prohibition of a “linked offer” under Belgian law was applied constituted an obstacle to free movement ...
In February of the present year, the Law No. 511 on the Creation of the Superintendence of Public Services (SISEP) was enacted. This Law substituted on its functions the Institutions rendering Public Services of Telecommunications, Energy and Drinking Water, (INAA, TELCOR; INE), and revoked their Organic Laws leaving them without any effect. From this legal event it existed in Nicaragua uncertainty for all the private parties who had established legal relationships with these institutions ...
On November 24, 2005, the Supreme Court of Canada handed down its decision in the case of Mikisew Cree First Nation v. Canada (Minister of Canadian Heritage).(1) In the decision, the Supreme Court confirmed that, while governments have the power under treaties to authorize land uses which infringe on treaty rights, the exercise of that power imposes on governments a duty to consult where the taking up of land adversely affects those rights ...
The Scottish Parliament has set out a concrete timetable for business rates to be cut in Scotland to the level of those in England by April 2007 in a bid to boost competitiveness. Finance Minister, Tom McCabe, confirmed the timetable for this equalisation in a statement to the Scottish Parliament on 6 October 2005, outlining plans to stagger its implementation. It is proposed the reduction occurs over a two-year period ...
Re Hunting plc [2004] EWCH 2591 (Ch) Facts: The company’s issued share capital consisted of ordinary shares and convertible preference shares. Under the company’s Articles of Association, the preference shareholders were not entitled to attend at or vote at general meetings of the company, unless, among other things, a resolution was to be proposed at that meeting which modified any of the rights attaching to the preference shares ...
The funds industry in Ireland has exceeded US$500 billion (over €410 Billion), according to the latest edition of Fitzrovia International’s Dublin Fund Encyclopaedia. A&L Goodbody remains the leading legal adviser by net asset value, representing funds in excess of US$149 billion, i.e. 25.8% of all funds in the Irish market ...
British industry is undergoing a period of unprecedented regulatory reform as part of a government drive to reduce the costs and burdens on business. Over the next year, it will become clearer how effective this reform will be. Following independent recommendations from the Hampton Review and the Better Regulation Task Force (BRTF), Chancellor Gordon Brown launched the Better Regulation Action Plan in May 2005 with the aim of boosting flexibility and enterprise ...
Consultation Paper on Conditional Fees On 14 September 2005, the Law Reform Commission of Hong Kong Conditional Fees Sub-Committee (the “Sub-Committee”) published a consultation paper on conditional fees (the “Consultation Paper”) recommending, among other things, that the existing prohibitions against the use of conditional fees in certain types of civil litigation by legal practitioners be lifted, so that legal practitioners may choose to charge conditional fees in appropriate cases ...
The simplest way of achieving your objective might be to consider the introduction of a share option scheme – this would enable your company to grant its employees rights to acquire shares at a pre-determined point in the future (i.e. on the occurrence of a flotation), but at a price which is fixed when the options are awarded ...
After a prolonged period of development, the announcement in August of the Board of Directors for Scotland's Futures Forum has finally seen this body come to fruition. The development of the Forum has included a substantial period of investigating overseas models, canvassing MSPs and running a conference involving 140 representatives from a number of sectors ...
The Taiwan Financial Supervisory Commission ("FSC") on 2 August 2005 promulgated new rules governing the offering of overseas funds in Taiwan ("the New Rules"). The New Rules take immediate effect and significantly change the existing rules and landscape for overseas funds being offered in Taiwan ...
The State Administration of Foreign Exchange ("SAFE") issued the Notice on Relevant Issues in Perfecting Foreign Exchange Control in Mergers and Acquisitions by Foreign Investors ("Notice 1") on 24 January 2005 and the Notice on Relevant Issues in the Registration of the Offshore Investments of Individual Domestic Residents and Foreign Exchange Registration of Mergers and Acquisitions by Foreign Investors ("Notice 2") on 21 April 2005 ...
The Ministry of Commerce ("MOFCOM") promulgated the Measures for the Administration of Foreign Investment in the Leasing Industry on 21 January 2005. The Measures superseded the 2001 Provisional Measures for the Administration of the Examination and Approval of Leasing Companies with Foreign Investment when they entered into effect on 5 March 2005 ...
The Ministry of Commerce, the National Development and Reform Commission and the State Administration for Industry and Commerce jointly promulgated the Implementing Measures for the Administration of Branded Automobile Sales on 21 February 2005. The Measures, which entered into effect on 1 April 2005, are aimed at bringing more order in the Chinese automobile market ...
The General Office of the Ministry of Commerce issued the Notice on Transmitting and Issuing the Letter of Reply of the General Office of the State Council on the Issue of the Detailed Applicability of the Capital Contributions of Investors in, and the Liquidation of, Foreign Investment Enterprises ("the Reply") on 18 March 2005 ...
The Standing Committee of the National People’s Congress passed Amendment (5) to the Criminal Law of the People's Republic of China (the "Amendment") on 28 February 2005. The Amendment was promulgated by President Hu Jintao and became effective on the same date. The Amendment introduces detailed penal provisions on credit card abuse and fraud and on damaging military equipment. We discuss the new sections regarding credit card abuse and fraud below ...
The China International Economic and Trade Arbitration Commission ("CIETAC") has recently updated the Arbitration Rules of CIETAC 中国国际经济贸易仲裁委员会仲裁规则 ("Rules"). The revised Rules came into effect on 1 May 2005. Specialist arbitration rules The revised Rules provide for the possibility of using rules, which have been tailor-made for specific industries ...
The China International Economic and Trade Arbitration Commission ("CIETAC") also updated its financial arbitration rules, the Arbitration Rules for Financial Disputes of CIETAC. The revised Financial Arbitration Rules replace the 2003 rules (as discussed in the July 2003 Issue of China Legal Update - http://www.deacons.com.hk/eng/knowledge/knowledge_156.htm) and took effect on 1 May 2005 ...
On 27 April 2005, the People’s Bank of China ("PBOC") promulgated the Measures Governing the Issuance of Financial Bonds on the National Inter-bank Bond Market ("the Measures"). The Measures entered into force as of 1 June 2005 and represent an attempt by China’s central bank to standardise the activities of issuing financial bonds on the national inter-bank bond market ...
