One of the main rationales for using a cash box structure is that equity securities issued by PLC are issued for a non-cash consideration so that the statutory pre-emption provisions set out in the UK Companies Act 2006 do not apply. The issue can therefore take place without the timing implications of seeking shareholder approval to disapply the pre-emption rights or conducting a pre-emptive issue ...
What is the intention of the new regime? By replicating and improving upon successful asset holding structures adopted by fund managers in jurisdictions like Luxembourg, the QAHC regime is intended to bolster the UK funds industry by facilitating greater UK-based fund activities, amending certain aspects of the UK tax system which have hitherto made UK vehicles unattractive as asset holding companies ("AHCs") ...
The material issue of the case, in which the procedural question arose, was whether two decisions by the Alver Municipality regarding property tax for «Mongstad kraftvarmeverk» and «Mongstad raffineri» owned by Equinor were lawful. In order to value the properties, the municipality had engaged an appraiser. Now, before the case is to be decided by the High Court, the parties disagreed about whether the appraiser should be considered an expert witness or not ...
The California Court of Appeal, First Appellate District, issued a decision on June 29, 2022, holding that internal investigation records of an elected peace officer do not constitute "personnel records" exempt from California Public Records Act (CPRA) requests. Background The CPRA provides a mechanism through which members of the public can access records in the possession of state and local agencies. It does not, however, provide an absolute right of access to all public records ...
The Supreme Court recently considered, in the Law Society of Saskatchewan v. Abrametz1 decision, the applicable test to determine whether a delay is inordinate and constitutes an abuse of process that could lead to a stay of administrative proceedings. In this case, a Saskatchewan lawyer requested that the disciplinary proceedings against him be terminated due to a delay that he claimed was inordinate and constituted an abuse of process ...
Mamo TCV Advocates shall be organising a series of webinars spanning over one week to provide insights on sustainable finance and related regulatory compliance obligations. The scope of these webinars is to highlight how the sustainability-related requirements are impacting the financial services sector from a regulatory standpoint. During the week, Mamo TCV Advocates will also be discussing employment and corporate social responsibility matters ...
It is well-known that happier employees are harder to poach and, as a result, it is crucial that employers create a culture that drives staff loyalty and retention so as to mitigate the impact of the ongoing war for talent. Our future of work series previously examined top tips for recruiting a diverse workforce. However, in order to successfully retain staff, organisations must go further and look beyond their initial recruitment processes to evaluate the overall culture of the business ...
On 21 July 2022, the Chair of the COVID-19 Inquiry ('the Inquiry'), Baroness Heather Hallett, issued an opening statement. As part of her commitment to streamlining the process, the Chair has invited applicants to group themselves together with others with a similar interest, wherever possible, to help manage the potentially large number of people and organisations seeking Core Participant status ...
The United Arab Emirates (UAE), a sought-after destination by foreign businesses for establishing their regional offices, consists of multiple jurisdictions for incorporation/establishment of entities. Each Emirate of the UAE has its own licensing authority and, additionally, there are more than 40 free zones in the UAE. Each Emirate and each free zone can be regarded as a separate jurisdiction for the incorporation and establishment of entities ...
Following the enactment of the Law on Social Security on 2 November 2019 and issuance of Sub-Decree 32 on the Social Security Scheme for Pension Fund for Persons under the Scope of the Labour Law dated 4 March 2021 (“Sub-Decree 32”) (further detail can be found in this link), the Royal Government of Cambodia and the Ministry of Labour and Vocational Training promulgated and issued of the following regulations to further detail the formalities and procedures for the pension scheme:
<p>Dear valued clients, colleagues and friends,</p><p>Our <a href="https://www.shearndelamore.com/practice-areas/employment-administrative-law/">Employment & Administrative Law</a> partners, <a href="https://www.shearndelamore.com/people/sivabalah-nadarajah/">Sivabalah Nadarajah</a> (General Editor), <a href="https://www.shearndelamore ...
On August 11, 2022, the California Supreme Court issued its opinion in Zolly v. City of Oakland, holding that a group of property owners had pleaded sufficient facts to maintain a challenge to the City’s solid-waste franchise fee, under Article XIII C of the California Constitution, commonly called “Proposition 26 ...
If you’re an underwriter, originator, closer, attorney or other professional who specializes in HUD-insured loans, fair housing principles probably aren’t top of mind as you navigate your workday. Still, it pays to have a working knowledge of HUD’s protected classes. Dinsmore was recently involved in a 223(f) closing that provides an instructive case in point ...
Best Medical International, Inc. v. Elekta Inc., Appeal Nos. 2021-2099, -2100 (Fed. Cir. Aug. 26, 2022) In this week’s Case of the Week, the Federal Circuit addressed issues of jurisdiction where a challenged claim was canceled through ex parte reexamination during pending inter partes review proceedings, and otherwise affirmed the Patent Trial and Appeal Board’s determination that challenged claims were obvious over the prior art ...
On September 9, 2021, President Biden issued Executive Order 14042, Ensuring Adequate COVID Safety Protocols for Federal Contractors, which directs federal agencies to include in certain federal contracts a clause requiring the contractor to comply with all guidance published by the Safer Federal Workforce Task Force. Included in those guidelines is a mandate that all federal contractor employees be vaccinated against COVID-19 unless the employee is legally entitled to an accommodation ...
pOver the last several years, traditional insurance has become increasingly expensive as insurers use risks and claims associated with the COVID-19 pandemic, geopolitical risk, supply-chain disruption, inflation and intensifying severe weather events to justify premium raises and coverage reductions ...
SyCip Salazar Hernandez & Gatmaitan (SyCipLaw) has kept its Tier 1 ranking in M&A and Restructuring and Insolvency in the latest rankings released by IFLR1000, the guide to the world’s leading financial and corporate law firms. Earlier this year, SyCipLaw also received Tier 1 rankings in Banking, Capital markets: Equity, Project development, and in Project finance ...
Law No. 21,398 (known as the "Pro-Consumer Law"), which amended Law No. 19,496, Consumer Protection Act ("CPA"), reinforced the right of withdrawal in distance purchases, establishing that: Consumers may exercise the right of withdrawal or repentance, within a period of 10 days from receipt of the product, without expression of cause, with respect to all purchases of goods, without conditioning the right to the will of the supplier ...
On the 12 August 2022, the MFSA has issued a Circular to inform the financial services industry of the launch of a new standardised template (“Annex AX26: Source of Wealth and Source of funds self-declaration form”) to be used with immediate effect when submitting a statement of source of wealth and source of funds ...
In July, the Antimonopoly Committee asked the Ministry of Strategic Industries to update the conditions for providing state aid to companies that develop, manufacture, repair, and service aviation equipment and engines. What to update and how, the committee wrote in recently adopted recommendations . Asters lawyer Olena Gadomska told Mind what the latter envisage, why AMCU is resorting to such changes and who they will affect ...
The draft diploma on the simplification of licenses and procedures for companies in the environmental area was submitted to public consultation on the 3rd of August (the “Proposal”). The Proposal contains measures mainly in the environmental area, but also measures with a transversal impact, applicable to the administrative activity and public authorities (e.g., the certification mechanism for tacit approvals) ...
