As concerns the contents of the Act, we can say primarily that certain proven principle and institutes reappeared known from original Act No. 199/1994, Coll., on Public Procurement which Act No. 40/2004, Coll ...
So-called black collective investmentThe legal regulation of collective investment was based on the fact the Collective Investment Act, similar to its predecessor, the Act on Investment Funds and Investment Companies, exclusively regulated the activities of investment funds and investment companies. The new amendment brings fundamental changes in this respect ...
The Sappier Decision: Supreme Court of Canada Recognizes Aboriginal Right to Timber for Domestic Purposes and Clarifies Requirements for Establishing an Aboriginal RightOn December 7, 2006, the Supreme Court of Canada handed down its decision in the cases of Gray v. R and R. v. Sappier and Polchies ...
If you are a business owner-leader whose years of hard labour earned him substantial wealth, you certainly wish to maximize the value of the assets that will be transferred to your heirs. You also want such transfer to proceed harmoniously and at the lowest tax cost possible. To achieve these goals, you must start to plan now ...
The legal systems of the nations that comprise the Gulf Cooperation Council -- Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates -- have undergone dramatic, radical and progressive change and development in the past 25 years, which is continuing ...
On 4 December 2006 the Disability Equality Duty will come into force. It will join the broadly similar Race Equality Duty, which has existed under the race relations legislation since 2001. Meanwhile, an analogous Gender Equality Duty is due to come into force in April 2007.The intention behind the creation of these new duties is to ensure that bodies which exercise public functions “mainstream” equality issues when exercising those functions ...
Within the European Union the issue of taking evidence in another member state has been regulated uniformly by the Council regulation (EC) No 1206/2001 of 28 May 2001 on cooperation between the courts of the Member States in the taking of evidence in civil or commercial matters. However some general rules relating to the procedure of taking evidence abroad were developed and established long before the adoption of the regulation ...
Section 15(a)(1) of the Securities Exchange Act of 1934 (the “Exchange Act”) provides that “it shall be unlawful for any broker or dealer which is . . . a person other than a natural person . . . to make use of the mails or any means or instrumentality of interstate commerce to effect any transactions in, or to induce or attempt to induce the purchase or sale of, any security… unless such broker or dealer is registered [with the SEC] ...
Bolivia has just culminated the step that will have the greatest impact in the process of creating a new constitution for Bolivia. On Sunday July 2, Bolivia elected the constituents to the assembly that will be in charge with providing structure and substance to the new constitutional norm ...
The revelations of the intercepted phone messages from Prince Harry and Prince William earlier this year are a reminder of how vulnerable personal data can be. Proposed changes to the law will mean that those who hold confidential personal information must be even more vigilant about what they do with that data. Most businesses will be familiar with the Data Protection legislation but it is important not to be complacent ...
There has been a great deal of interest generated by the Bankruptcy and Diligence etc (Scotland) Bill on its passage through the Scottish Parliament ...
Before 1978, China's economic policies were mainly aimed at self-reliance. As a result, the country was virtually shut off from world economic developments. In 1978, China opened its doors to foreign investment with the goal of modernising its economy and raising the living standard of its people. The country has since established the necessary legislative basis for foreign investment and has actively sought to acquire modern foreign management and technical skills ...
Following the amendments to the Inland Revenue Ordinance earlier this year, the Inland Revenue Department ("IRD") issued its Departmental Interpretation and Practice Notes ("DIPN") No. 43 on 6 September 2006. Whilst the Inland Revenue Ordinance ("IRO") laid down the legal foundation in respect of the Hong Kong profits tax exemption for unauthorised funds, DIPN 43 provides some practical guidance on the application of the exemption ...
• Directors of NPOs are subject to substantially the same duties and liabilities as directors of for-rofit companies • Being a director of an NPO is not merely an honorary role • The corporate governance rules recommended for or imposed on reporting issuers are examples of best practices for NPOs; however, like for small businesses, they should be adapted, depending on the situation, to avoid unduly complicating the NPO’s processes • Special attention should be paid to certain differenc
State Aid is something of a European hot potato as the European Commission is currently in the process of reforming the rules surrounding State Aid. This reform process is the key priority for Robert Hankin, head of the Regional Aid Unit at the European Commission. State Aid involves support given by a member state to businesses, in the form of subsidies or tax breaks for example, and has a wide-ranging impact throughout Europe ...
The effects of the singular interpretation of the EC Treaty that the Court of Justice has been reinforcing for many years whilst assessing the compatibility of income tax legislation of the Member States with that Treaty, are now beginning to be felt, and to a considerable degree, here in Portugal ...
What will the impact be when the Scottish Parliament Finance Committee reports on Accountability and Governance asks Kelly Harris The Finance Committee of the Scottish Parliament has been conducting an inquiry into Accountability and Governance in Scotland, looking at the proliferation of Commissioners and Ombudsmen established since devolution. The impetus behind the inquiry was the growing concern that money might be being wasted as a result of overlapping functions and responsibilities ...
WHAT IS CEPA? The Closer Economic Partnership Arrangement (“CEPA”) is a free trade agreement between Mainland China and Hong Kong that offers Hong Kong products, companies and residents preferential access to the Mainland market. Many of the preferences go beyond China’s WTO concessions. CEPA is not a closed agreement and both sides hold regular meetings on further concessions and the details for implementation ...
Recently, in 2005, the Portuguese tax system streamlined its rules for the taxation of dividends, by harmonising rates which previously varied in accordance to the nature of the recipient of the dividends. This, along with the introduction of some provisions aimed at dealing with schemes that used exempt entities to evade tax, helped to turn the taxation of dividends more coherent and simple ...
The implementing rules and regulations of Republic Act No. 6957 as amended, or the BOT Law, have been revised to increase incentives, minimize government regulations, allow reasonable returns on investments, share risks between the government and the project proponent, and assure transparency and competitiveness in the bidding and award of projects ...
China has traditionally restricted foreign investment in the retail and wholesale sectors with the aim of nurturing strong domestic players before their foreign counterparts would be allowed into the country. Since becoming a member of the World Trade Organisation, China has gradually opened up its distribution sector to foreign investment ...
The Ministry of Commerce (“MOFCOM”), the China Securities Regulatory Commission, the State Administration of Taxation, the State Administration for Industry and Commerce and the State Administration of Foreign Exchange jointly promulgated the Measures for the Administration of Strategic Investment of Foreign Investors in Listed Companies on 31 December 2005 ...
The Ministry of Commerce (“MOFCOM”) issued the Notice of the Ministry of Commerce on Entrusting Local Authorities with the Examination and Approval of Commercial Enterprises with Foreign Investment on 9 December 2005. The Notice, which became effective on 3 March 2006, is expected to reduce the time required for setting up a commercial enterprise with foreign investment (“commercial FIE”) ...
The Ministry of Commerce (“MOFCOM”) issued the following notices on 20 January 2006: the Notice on Entrusting the Provincial Level Authorities in Charge of Commerce with the Examination and Approval, and Administration of Non-Vessel Carrier Enterprises with Foreign Investment, the Notice on Entrusting the Provincial Level Authorities in Charge of Commerce with the Examination and Approval, and Administration of Road Transportation Enterprises with Foreign Investment, the Notice on Entrusting the
The State Administration for Industry and Commerce, the Ministry of Commerce, the General Administration of Customs and the State Administration of Foreign Exchange jointly issued the Implementing Opinion on Several Issues in the Laws Applicable to the Examination and Approval, Registration and Administration of Foreign Investment Enterprises on 24 April 2006 ...
