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Focus on Myanmar - Finance & Loan Security Rights in Real Estate in the COVID-19 Era: 10 Key Q&As
DFDL, October 2020

Hot on the heels of our other two series which dealt with aviation and restructuring & insolvency, DFDL is proud to unveil the next Q&A series, this time on Real Estate and Banking & Finance issues throughout Southeast and South Asia. The first edition will focus on Myanmar...

Philippine Legislation in the Pipeline: Can Local Authorities Regulate the “Internet”?
SyCip Salazar Hernandez & Gatmaitan, October 2020

The electronic commerce industry is expected to expand by five to seven percent in the coming years while the streaming services business is also expected to exponentially grow, with more and more Filipinos opting to do their transactions online, as well as accessing Internet-based content and entertainment. Philippine authorities are inevitably focusing their regulatory gaze on these enterprises.  A...

PCC Issues Rules Implementing Section 4(eee) of Bayanihan 2 on the Transaction Value Threshold for the Exemption from Compulsory Notification
SyCip Salazar Hernandez & Gatmaitan, October 2020

The Philippine Competition Commission (PCC) has issued the rules for the implementation of Section 4(eee) of Republic Act No. 11494, the “Bayanihan to Recover as One Act” (Bayanihan 2)1 on October 5, 2020 and these rules (PCC Rules on Bayanihan 2) 2 were published, and thus became effective, from the same date...

SEC Issues Rules on Corporate Debt Vehicles
SyCip Salazar Hernandez & Gatmaitan, October 2020

 The Securities and Exchange Commission (SEC) has issued Memorandum Circular No. 23, Series of 2020 (CDV Circular), dated August 18, 2020, which provides a regulatory framework for the creation and operation of Corporate Debt Vehicles (CDV). The circular aims to alleviate the adverse economic effects of the COVID-19 pandemic on large corporations and medium-sized enterprises by giving them another mode of raising capital through the intermediation of a mutual fund. 1...

PCC Issues Rules Implementing Section 4(eee) of Bayanihan 2 on the Transaction Value Threshold for the Exemption from Compulsory Notification
SyCip Salazar Hernandez & Gatmaitan, October 2020

 The Philippine Competition Commission (PCC) has issued the rules for the implementation of Section 4(eee) of Republic Act No. 11494, the “Bayanihan to Recover as One Act” (Bayanihan 2)1 on October 5, 2020 and these rules (PCC Rules on Bayanihan 2)2 were published, and thus became effective, from the same date...

Whether a Sub-Licensee of a Registered Industrial Design Owner has the Required Standing to Sue for Design Infringement
Shearn Delamore & Co., October 2020

A case note by Sim Sook Eng...

Make Working from Home Work - Employers’ Considerations for Remote Working
Shearn Delamore & Co., October 2020

In this article, Grace Chai Huey Yann explores common issues relating to remote working arrangements implemented by employers in response to the Covid-19 pandemic. Introduction The Covid-19 pandemic has caused unprecedented impact on businesses worldwide, especially when international borders are closed and various degrees of lockdown are introduced in response to the pandemic. Since the first quarter of this eventful year, virtual working has become the option for many employers...

PENJANA Short-Term Economic Recovery Plan: Incentives for Property Sector
Shearn Delamore & Co., October 2020

In this article, Tang Yen Yi examines the PENJANA Short-Term Economic Recovery Plan in relation to the property sector. During these unprecedented times of a global pandemic due to COVID-19, the Government of Malaysia announced the recovery plan for the country’s economy: PENJANA Short-Term Economic Recovery Plan (“PENJANA”).PENJANA includes plans to stimulate the economy with incentives for real estate transactions...

SWW v Ketua Pengarah Hasil Dalam Negeri1 - The Granting of Judicial Review by the High Court of Malaya in Tax Proceedings.
Shearn Delamore & Co., October 2020

A case note by Abhilaash Subramaniam Introduction In the recent case of SWW v Ketua Pengarah Hasil Dalam Negeri, the High Court of Malaya granted the taxpayer leave to apply for judicial review, a stay of proceedings pending the disposal of the taxpayer’s application for judicial review and subsequently allowed the taxpayer’s judicial review application on the merits, ordering a prohibition on all collection and enforcement action relating to disputed taxes and assessments

Forefront: Social Media Time Bombs that Go TikTok TikTok
TSMP Law Corporation, October 2020

  An app that has captivated Generation Z with the ability to create and share videos has been dragged into the US-China power struggle, becoming its latest flashpoint. The current social media darling, TikTok, boasts 800 million active users. Reports value it at up to US$50 billion (S$68.4 billion). Considering that its Beijing-based app maker launched it worldwide only two years ago, that represents huge growth...

Shearn Delamore & Co. Legal Update September 2020 (Financial Services)
Shearn Delamore & Co., October 2020

SME Merger and Acquisition instruments exempt from stamp dutyThe Prime Minister announced that starting from 1 July 2020 until 30 June 2021, eligible SMEs will be exempted from paying stamp duty on instruments for Mergers & Acquisitions (“M&A instruments”), including Contracts or Agreements for sale or lease of properties (including land, building, machinery and equipment); Instrument of Transfer and Memorandum of Understanding; Loans or Financing Agreement; and First Tenancy

Shearn Delamore & Co. Legal Update September 2020 (Intellectual Property)
Shearn Delamore & Co., October 2020

Compounding of Offences under the Malaysian Trademarks Act 2019 and RegulationsSection 136 (2) of the Trademarks Act 2019 (“Act”) grants the Controller with the power to compound offences under the Act. In essence, compounding means payment as a settlement in lieu of prosecution of an offence.Further, section 136 (1) of the Act empowers the Minister to make regulations pertaining to compounding with the approval of the Public Prosecutor...

Shearn Delamore & Co. Legal Update September 2020 (Tax and Revenue)
Shearn Delamore & Co., October 2020

Income Tax The Income tax The Income Tax (Special Treatment for Interest on Loan) Regulations 2020 have been gazetted on 25 August 2020 and shall have effect for the year of assessment 2020 and subsequent years of assessment...

Companies (Amendment) Bill 2020 — Proposed Changes to Beneficial Ownership of Shares in Private Companies
Shearn Delamore & Co., October 2020

In this article, Lee Yuan Yao looks at the proposed disclosure requirements on beneficial ownership of shares in private companies under the proposed Companies (Amendment) Bill 2020.IntroductionOn 29 July 2020, the Companies Commission of Malaysia (“CCM”) released a consultative document seeking feedback on the proposed Companies (Amendment) Bill 2020 (“CA Bill 2020”)...

He-Con Sdn Bhd v Bulyah bt Ishak & Anor [2020]1: Extension to the Requirements for Deferred Indefeasibility?
Shearn Delamore & Co., October 2020

A case note by Datin Jeyanthini Kannaperan and Koo Yin Soon.The Legal BackdropIndefeasibility of title is the immunity obtained by a registered proprietor or interest holder in property. This concept is encoded in Section 340 of the National Land Code 1965 (“Section 340”) which sets out both how such immunity operates and the exceptions to the immunity...

Strike Out Negligence Claim Appeal Dismissed
MinterEllisonRuddWatts, October 2020

MSC Consulting Group Limited v Oyster Management Limited [2020] NZCA 417 MSC Consulting Group (MSC), a firm of consulting engineers, faced a claim of negligent misstatement by Oyster Management Group (Oyster) and Corinthian Trustees Limited (Corinthian) in respect of seismic reports it prepared...

Quantum Meruit: Remuneration Where There is No Contract
MinterEllisonRuddWatts, October 2020

A well drafted contract can facilitate and contribute to a successful construction project. Ideally, contracts should be finalised and signed before any work is carried out on site. In practice, this does not always occur and is not always possible. This can have unfortunate consequences, particularly from the litigation perspective. It is not uncommon to encounter situations where work starts before the execution of a formal contract, and the anticipated contract never materialises...

Reserve Bank relaunches Insurance Act review
MinterEllisonRuddWatts, October 2020

Today, the Reserve Bank of New Zealand (Reserve Bank) issued a relaunch paper and is commencing a review of insurer solvency standards. This follows the announcement on 14 September of the Reserve Banks’ intention to recommence the review of the Insurance (Prudential Supervision) Act 2010 (IPSA). The IPSA review will commence in parallel to the review of insurer solvency standards...

A New Financial Services Landscape: Post-Royal Commission in a COVID-19 World
MinterEllison, October 2020

For the financial services sector, 2020 was to be the year of rebuilding after the royal commission reckoning of 2018-2019. But with 2020 presenting circumstances that were previously unimaginable, the sector – like the entire Australian economy – has a whole new set of challenges to face… As 2020 ticks on, the financial services industry is grappling with new challenges presented by the COVID-19 pandemic and the subsequent economic downturn...

Resource Management Reform: Greater Integration of Maori Perspectives
MinterEllisonRuddWatts, September 2020

Many are aware that in July the Resource Management Review Panel (Panel) suggested a suite of reforms that include repealing the Resource Management Act 1991 (RMA) and replacing it with a new Natural and Built Environments Act (NBEA) and a new Strategic Planning Act (with spatial plans), a new Managed Retreat and Climate Change Adaptation Act. Our summary of the reforms is available online...

Resource Management Reform: Incentivising Environmental Outcomes Through Economic Tools
MinterEllisonRuddWatts, September 2020

Many are aware that in July the Resource Management Review Panel (Panel) suggested a suite of reforms that include repealing the Resource Management Act 1991 (RMA) and replacing it with a new Natural and Built Environments Act (NBEA), a new Strategic Planning Act (with spatial plans) and new Managed Retreat and Climate Change Adaptation Act. Our summary of the reforms is available online...

Resource Management Reform: Proposals for Greater Enforcement and Transparency
MinterEllisonRuddWatts, September 2020

Many are aware that in July the Resource Management Review Panel (Panel) suggested a suite of reforms that include repealing the Resource Management Act 1991 (RMA) and replacing it with a new Natural and Built Environments Act (NBEA), a new Strategic Planning Act (with spatial plans) and new Managed Retreat and Climate Change Adaptation Act. Our summary of the reforms is available online...

The Implications of Holding Over at Lease Expiry
MinterEllisonRuddWatts, September 2020

The COVID-19 pandemic has created uncertainty in many aspects of our business and personal lives. In some cases, it has made what were already complex business decisions even more complicated. An example of this is the decision that a tenant has to make at the end of its lease – whether to renew its existing lease (if it has a right to renew), negotiate a new lease for its existing premises (if it does not have a right to renew), or move to new premises...

Rules Implementing the Criminal Provisions of the Philippine Competition Act
SyCip Salazar Hernandez & Gatmaitan, September 2020

 This briefing provides an overview of the salient points of Department of Justice (“DOJ”) Circular No. 016 (Rules Implementing the Criminal Provisions of Republic Act No. 10667, Otherwise Known As the Philippine Competition Act)1 (“PCA Rules on Criminal Provisions”). A...

SyCipLaw Tax Issues and Practical Solutions (TIPS) Vol. 3 - September 2020
SyCip Salazar Hernandez & Gatmaitan, September 2020

SyCipLaw TIP 1: Based on reports, the BIR is considering applying a minimum threshold on who will be required to submit BIR Form No. 1709. The threshold may be based on the assets or revenue of the entity or the size of the transaction, or both. However, until the BIR issues the relevant circular, a taxpayer entering into transactions with related parties must ensure that it complies with the requirements under RR No...

 

 

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