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 ...
Pursuant to the Act on Supervision of Financial Market, the National Bank of Slovakia has issued this Measure, which defines the content, format, terms, form, method, procedure and place of submitting the reports of the allotment funds, which issue allotment fund certificates in the Slovak Republic, by asset management companies and branches of foreign asset management companies for statistical purposes. This Measure is published in the Bulletin of the National Bank of Slovakia (Issue No ...
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 ...
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 ...
Side letters are a common phenomenon encountered by hedge fund managers today. These letters are often used to secure better fees for key investors and to give preferential or improved access to information about underlying investments and liquidity. They also provide what are commonly referred to as most favoured nation provisions, meaning that if the fund offers better terms to another investor, the early-stage investors will also be able to take those new or better terms ...
In September 2006, the Securities and Futures Commission (SFC) released the Consultation Conclusions on the draft guidelines on marketing materials for listed structured products (Guidelines). The Guidelines, to be published under section 399 of the SFO, will replace the current guidelines, which take the form of a letter to warrant issuers. The Stock Exchange of Hong Kong will continue to require compliance with the revised Guidelines as a condition to the listing of structured products ...
As expected, the latest set of EU regulations regarding collective investment schemes - the undertakings for collective investments in transferable securities (Ucits III) - has opened up an exciting new spectrum of product possibilities for the investment funds industry in Europe. Since December 2004 there has been a new range of creative product offerings being authorised by the Irish financial regulator under the Ucits III banner ...
Pursuant to the Act on Supervision of Financial Market, the National Bank of Slovakia has issued this Measure, which defines the content, format, terms, form, method, procedure and place of submitting the reports for statistical purposes by a pension asset management company for the pension asset management company itself and for individual pension funds established and managed by it, and by a supplementary pension company for the supplementary pension company itself and for individual pension f
Pursuant to the Act on Supervision of Financial Market, the National Bank of Slovakia has issued this Measure, which defines the content, format, terms, form, manner, procedure and place of submitting the reports to the National Bank of Slovakia by factoring companies, instalment financing companies and leasing companies for statistical purposes. This Measure is published in the Bulletin of the National Bank of Slovakia (Issue No ...
The Ministry of Foreign Affairs of the Slovak Republic announced the adoption of the Treaty on Accession of the Czech Republic, Republic of Estonia, Republic of Cyprus, Republic of Latvia, Republic of Lithuania, Republic of Hungary, Republic of Malta, Republic of Poland, Republic of Slovenia and Slovak Republic to the Double Tax Treaty in case of adjustment of profit of associated companies, dated 23 July 1990 as amended by the Treaty of 21 December 1995 and the
Pursuant to the Act on Old-Age Pension Savings, the National Bank of Slovakia issued this Decree stipulating the requirements for the content of an annual and halfyear report on asset management in a pension fund, and annual and half-year report on equity management in a pension asset management company, as well as the content and structure of daily information about each transaction with pension fund assets ...
Pursuant to the Act on Supplementary Pension Savings, the National Bank of Slovakia issued this Decree stipulating the requirements for the content of an annual and halfyear report on asset management in supplementary pension fund and annual and half-year report on equity management of supplementary pension company ...
Pursuant to the Act on Banks, the National Bank of Slovakia issued this Measure defining the content, format, terms, form, method, procedure and place of submitting reports to the National Bank of Slovakia for statistical purposes. This Measure has been published in the Bulletin of the National Bank of Slovakia (Issue No ...
On 24 August 2006, the China Securities Regulatory Commission ("CSRC"), People's Bank of China ("PBOC") and the State Administration of Foreign Exchange ("SAFE") jointly issued new regulations, the "Measures for the Administration of Investment in Domestic Securities by Qualified Foreign Institutional Investors" (the "New QFII Rules") that govern the regime allowing qualifying foreign institutions approved by the CSRC as Qualified Foreign Institutional Investors ("QFIIs") to invest in China A sh
This article was first published in Invest Romania, October 2006 issue. 1 Common customs policy The enlargement of the European Union automatically triggered the enlargement of the scope and applicability of the common commercial policy promoted by the member states towards the new member states ...
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 ...
In the recent past, the State Supervision of Financial Organizations (the "SSFO") has published its guidelines on its official website regarding the possibility of providing financial services in the territory of Hungary by credit institutions/financial enterprises with a registered seat in a Member State of the European Union in the form of cross-border services through agencies by means of the Hungarian Bank Act ...
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 ...
The recently introduced Pension Protection Act 2006 makes two important changes to the definition of the term "plan assets" for the purposes of ERISA. The new legislation continues to provide that the assets of a fund or other entity will not constitute "plan assets" and will therefore not be subject to the fiduciary obligations under ERISA if less than 25% of the value of each class of equity in the entity is held by "benefit plan investors" ...
By January 2007 all EU members are supposed to adopt MiFID, including its implementation measures published in June 2006. Firms carrying out investment services will then have to comply with it by November 2007. MiFID should greatly facilitate EU cross-border activities since passported firms will no longer be subject to prudential regulation in each country where they provide services but only by their home country ...
