Sarbanes-Oxley Act of 2002: SEC Adopts Final Rule to Mandate Electronic Filing and Website Posting for Forms 3, 4 and 5 As required by Section 403 of the Sarbanes-Oxley Act of 2002, the Securities and Exchange Commission (the “SEC”) has adopted final rules and form amendments mandating the electronic filing, and website posting by issuers with corporate websites, of beneficial ownership reports filed by officers, directors and principal security holders under Section 16(a) of the Securities E
Incoming Call ChargesIn February 2003 the Ukrainian Parliament overruled President Kuchma's December 2002 veto against an amendment to Article 12 of the Communications Law 1995. The amendment prohibits all telecommunications operators from charging their customers for incoming calls. On March 13 2003 the president duly signed the amendment, which will come into effect six months after its official publication (ie, on September 18 2003) ...
Mobile TeleSystems, Russia's leading mobile communications operator and one of the largest mobile operators in Eastern Europe, has acquired a 57.7% stake in Ukrainian Mobile Communications (UMC), the second largest Ukrainian mobile operator, for €194.2 million. In November 2002 Mobile TeleSystems signed a purchase agreement for 57.7% of UMC's shares. Under the agreement, Mobile TeleSystems was to acquire the 16 ...
On Jan. 29, the National Bank of Ukraine adopted a regulation on the procedure for granting residents individual NBU licenses to transfer hard currency outside Ukraine as payment for monetary assets. According to this new regulation, prior to making a payment in hard currency to a non-resident seller of monetary assets - except for external government T-bills -, a resident purchaser must obtain from the NBU an individual license authorizing the remittance ...
The U.S. Environmental Protection Agency (“EPA”) recently issued a proposed rule and a notice of future of rulemaking under the Comprehensive Environmental Response, Compensation, and Liability Act (“CERCLA”) regarding standards for “all appropriate inquiry,” which are important to a variety of businesses, especially those engaged in real estate transactions ...
The U.S. Environmental Protection Agency and the Corps of Engineers recently issued an Advance Notice of Proposed Rulemaking regarding the definition of “waters of the United States,” which was published in the Federal Register on January 15, 2003. EPA and the Corps will be accepting comments that the agencies will use in developing rules clarifying what waters are subject to regulation under the Clean Water Act ...
In our October 22, 2002 Alert, we discussed the importance of the new compliance history rules of the Texas Commission on Environmental Quality (“TCEQ”). Basically, a company’s compliance history will affect permitting, availability of innovative programs, and enforcement, including unannounced inspections. Be alert that the TCEQ compliance history rules ignore traditional distinctions between mergers and assets acquisitions involving successor liability ...
In our October 22, 2002 Alert, we discussed the importance of the new compliance history rules of the Texas Commission on Environmental Quality (“TCEQ”). Basically, a company’s compliance history will affect permitting, availability of innovative programs, and enforcement, including unannounced inspections. Be alert that the TCEQ compliance history rules ignore traditional distinctions between mergers and assets acquisitions involving successor liability ...
University of Texas Oil, Gas and Mineral Law Institute Introduction This paper does not cover pooling from A to Z. If you are interested in a more basic treatment of pooling, see Smith and Weaver, "Texas Law of Oil and Gas," Lexis 2000, Section §4.8. Rather, this paper will first examine selected recent cases, which to some extent involved exercise of the pooling authority under the oil and gas lease ...
University of Houston Law Foundation 2002 Oil and Gas Short Course Introduction The proposal for and conduct of operations are the primary souce of disagreement and litigation under AAPL Model Form Operating Agreement Form 610. This Model Form Operating Agreement has been in use in sustantially the same form since the first Form 610-1956 ...
1. APPLICATIONS FOR THE MACT HAMMER PERMIT DUE MAY 15, 2002 Section 112(j) of the federal Clean Air Act requires that major sources of hazardous air pollutants (HAP) submit an application for a Title V Operating Permit Revision if the source is a member of a source category for which the federal Environmental Protection Agency (EPA) has not adopted a Maximum Achievable Control Technology (MACT) standard within 18 months after the deadline for development of that standard ...
There is a multi-million dollar market segment that petroleum and energy product companies may not have considered previously -- namely sales to the U.S. Government. The principal federal government agency for the purchase and management of energy products is the Defense Energy Support Center (DESC), a part of the Defense Logistics Agency, with headquarters at Ft. Belvoir, Virginia ...
If you are a building owner planning any renovation or demolition, under a new Texas law, you must demonstrate that you have an asbestos survey before your city will issue a building permit for the project. Asbestos surveys by licensed asbestos inspectors have been a requirement for public buildings for some time; the new statute is intended to publicize and enforce that requirement. Each city has its own requirements for what must be shown to get a permit ...
Introduction President of Mexico Vicente Fox has announced that one of the priorities of his administration will be the development of the energy sector. He is well aware of the current needs for investment in this sector, particularly in power generation and non-associated gas exploration and production. He is also aware that the government will not have the necessary funds to match the anticipated growth of energy demand ...
On January 9, 2002, in Chao v. Mallard Bay Drilling, Inc., the United States Supreme Court concluded that the Occupational Safety and Health Administration's ("OSHA") authority to maintain workplace safety for "uninspected" vessels (such as offshore drilling rigs) is not pre-empted by the Coast Guard's power to control maritime operations ...
On January 11, 2002, President Bush signed the “Small Business Liability Relief and Brownfields Revitalization Act” (the “Act”). As its name suggests, the Act provides relief to small businesses and funding for Brownfields (“real property, the expansion, re-development, or re-use of which may be complicated by the presence or potential presence of a hazardous substance, pollutant, or contaminant”) ...
Enron announced in court Friday, January 11, that it had selected UBS Warburg’s bid for its wholesale commodity trading business. Many details concerning the sale remain to be resolved through the bankruptcy court process. Importantly for Haynes and Boone’s energy clients, there are many other Enron assets remaining on the auction block ...
