On 20 December 2010, the Government issued Government Regulation No. 78 of 2010 on Reclamation and Post Mining Activities (“GR No. 78”). It is the fourth Government Regulation issued pursuant to Law No. 4 of 2009 on Mineral and Coal Mining, along with several lower level regulations. Under GR No ...
Introduction Sustainable energy use has a significant place in Ukraine's energy policy. The Energy Strategy to 2030 and the Economic Reform Programme for 2010 to 2014 both identify switching to alternative energy sources and achieving greater energy efficiency as key priorities ...
Argentina has great geological potential and a very attractive regulatory framework that provides mining companies with important incentives, such as a 30-year fiscal stability period and several tax exemptions. However, in 2010, the Argentine mining industry faced certain issues prompted by regulatory trends in order to address social, environmental, and economic concerns towards mining ...
On 5th May 2011, the Italian Government approved the much¨Cexpected Ministerial Decree (the ¡°Decree¡±), establishing new tariffs for photovoltaic plants (¡°Photovoltaic Plants¡±) entering into operation from 1st June 2011 and until 31st December 2016. The Decree was published in the Official Gazette on 12th May 2011 and entered in force on 13th May 2011 ...
Recent decisions of the Australian Competition Tribunal provide an opportunity to reflect on the efficiency and cost effectiveness of limited merits review under the National Electricity Law (NEL) ...
Early last year, the State Administration for Industry and Commerce (“SAIC”) and the Ministry of Public Security of the People’s Republic of China (“PRC”) jointly issued a Circular on Further Strengthening Administration of the Registration of Resident Representative Offices (“RO”) of Foreign Enterprises (“Circular”) ...
The 2011 Regular Session of the West Virginia Legislature began and progressed in the midst of a frenzy of media attention focused on natural gas production activities in the Marcellus Shale formation and allegations of inadequate regulatory programs to assure proper State oversight of these operations ...
In a letter dated April 8, 2011, to the President of the North American Securities Administrators Association (“NASAA”),1 Robert Plaze, Associate Director of the Division of Investment Management of the Securities and Exchange Commission (the “SEC”), stated that the SEC is expecting to adopt final rules implementing various provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”) applicable to investment advisers by July 21, 2011 ...
Introduction Based on the final report submitted on September 29 2009 by a working group established by the Ministry of Employment and the Economy, on March 11 2010 the government submitted a draft for proposal to Parliament on new legislation in relation to a feed-in tariff system for electricity produced by renewable energy ...
For the third year in row, Václav Rovenský and Ján Béreš prepared an up-to-date overview of Czech legal regulations in the electricity sector for the worldwide publication Getting the Deal Through – Electricity Regulation 2011. The overview summarizes the current regulations of the electricity business in the Czech Republic and focuses inter alia on topics relating to the determination of electricity prices in the Czech Republic ...
The Québec mining industry is currently at the forefront of discussion, particularly in light of:* the publication of a study on the mineral industry cluster’s contribution to socio‑economic development in Québec, which occurred during the Mining Week (April 26th to May 2nd) organized by, among others, the Québec Mining Association and the Québec Mineral Exploration Association; a copy of this study is available on their website;(1)* the Fraser Institute A
With the continuous increase of Chinese investments throughout the entire world and, particularly, in Portugal, along with the inverse phenomenon, it is extremely important to acknowledge that Portugal has already entered into double tax treaties with China and Macau, which became important instruments to be considered by companies and individuals when moving forward with their international planning strategies ...
On January 25, 2011, the Securities and Exchange Commission (the “SEC”) proposed new Rule 204(b)‑1 (the “Proposed Rule”) under the Investment Advisers Act of 1940, as amended (the “Advisers Act”), that would implement various provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”) by creating a new Form PF for use by the Financial Stability Oversight Council (the “FSOC”) and other regulatory agencies in assessing systemic risks posed to the U.S ...
by Ronald W. SchulerAccording to insiders, with regard to a Pennsylvania severance tax, Governor Corbett will be holding firm on “no state tax, no local fee,” although it is likely that the legislature will nevertheless offer up a “local impact assessment” bill ...
by Andrew B. McCallisterAs the West Virginia Legislature passes the midway point of the 2011 Regular Session, oil and gas issues remain hot topics with several bills having the potential to directly impact Marcellus Shale operators. Perhaps most significantly are two bills (SB 258/HB2878 and SB 424/HB 3042) that would substantially alter the current regulatory regime for Marcellus Shale permitting in West Virginia ...
by Allyn G. TurnerOn February 8, 2011, the EPA sent a draft copy of its plan for studying the impact of hydraulic fracturing on drinking water to the Science Advisory Board for review and comment. As proposed, EPA’s plan would involve a “cradle to the grave” study of the practice, from the impacts of the withdrawals of water used to fracture a well to the ultimate disposal of the frac water flowback ...
Pooling. This word is on the lips of almost every operator working in the Marcellus Shale. Depending on where you stand on the issue, pooling is either a necessity to allow for the efficient recovery of the resource or a dastardly scheme meant to allow big operators to run roughshod over small operators and small mineral owners ...
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
Tax treatment of different acquisitions What are the differences in tax treatment between an acquisition of stock in a company and the acquisition of business assets and liabilities? The main difference from the acquirer’s perspective is that there is only a step-up in the tax basis on an asset purchase, while a stock acquisition as a general rule does not allow for a step-up on the basis of the target’s assets ...
Effective September 1, 2010, the Texas Railroad Commission issued new regulations for oil and gas operators related to inactive onshore wells and associated equipment pursuant to House Bill 22591 which dramatically changed requirements for extension of plugging obligations for inactive wells. Certain aspects of the regulations and the original law currently are under review, and amendments to HB 2259 are expected to be introduced in the current legislative session ...
On November 29, 2010, the Financial Industry Regulatory Authority, Inc. (“FINRA”) announced that FINRA Rule 5131 will take effect on May 27, 2011.1 FINRA Rule 5131 is intended to sustain public confidence in the initial public offering (“IPO”) process by regulating the allocation, pricing and trading of IPOs of equity securities (“New Issues”) ...
Located on an island in the Caribbean, the Dominican Republic is a growing destination for U.S. businesses seeking to establish or expand overseas operations. An economically and politically stable country organized as a representative democratic government, it is the Caribbean's largest democratic country. The Dominican Republic had an inflation rate during the past year of only 4 ...
The European Parliament recently passed the Alternative Investment Funds Directive («AIFMD»). The AIFMD is focused on managers rather than investment funds and will implement broad regulatory measures on both fund managers located within the European Union («EU») and those established outside of the EU that provide asset management services to European alternative investment funds. The Swiss fund industry will have to closely examine the details of the AIFMD ...
