HIGHLIGHTSThe two duties of the directors: duty of care and fiduciary duty ...
ON OCTOBER 27TH, THE HONOURABLE JIM FLAHERTY, MINISTER OF FINANCE, ANNOUNCED AN IMPORTANT PLAN TO REFORM FEDERALLY REGULATED PENSION PLANS(1). THIS REFORM PLAN IS THE RESULT OF EXTENSIVE CONSULTATIONS THAT BEGAN IN JANUARY 2009 WITH THE RELEASE OF A DISCUSSION PAPER ENTITLED STRENGTHENING THE LEGISLATIVE AND REGULATORY FRAMEWORK FOR PRIVATE PENSION PLANS SUBJECT TO THE PENSION BENEFITS STANDARDS ACT, 1985 ...
Labour & Employment Law Update A Cautionary Tale about Temporary Layoffs A recent decision of the B.C. Supreme Court, Besse v. Dr. A.S. Mechner Inc., 2009 BCSC 1316, serves as a reminder that employers do not have the right to lay off employees temporarily (and without severance) unless this right is specified in the employment agreement. In this case, a dentist was seeking to reduce the staffing costs associated with his practice ...
On October 27, 2009 the Minister of Finance Jim Flaherty announced a number of proposed changes to the pension framework in Canada. Most of the proposed changes will be made to the Pension Benefits Standards Act, 1985 (Canada) (the “PBSA”), which governs federally regulated pension plans ...
1. Introduction As a reaction to the financial market crisis and the too-high incentives politicians have identified in the area of manager's compensation, the German government has enacted the Law on Equitableness in Executive Compensation (German: Gesetz zur Angemessenheit der Vorstandsvergütung, abbr: VorstAG) ...
Much has been and continues to be written about applications for cost-sharing under section 329 of An Act respecting industrial accidents and occupational diseases (the “AIAOD ”).Art. 329 I n the case of a worker already handicapped when his employment injury appears, the Comm ission may, on its own initiative or on the application of an employer, impute all or part of the cost of the benefits to the employers of all of the units ...
In recent times, the issue of post-retirement healthcare benefits has taken on a heightened significance for employers and sponsors of pension and health and welfare plans. Factors such as an increasing number of retirees, rising drug and healthcare costs and government cutbacks to universal healthcare programs are causing organizations to re-evaluate the extent to which they can or are willing to continue to provide post-retirement healthcare benefits ...
On 23 June 2009, Presidential Regulation No. 27 of 2009 on Integrated One-Stop Services in the Capital Investment Sector (“PR 27”) was issued. PR 27 was enacted to implement Article 26(3) of Law No. 25 of 2007 Regarding Capital Investment (“Law 25”), which requires the issuance of a Presidential Regulation for further implementation of the “one gate policy in investment services” ...
The Race Discrimination Ordinance (RDO) came into force last week on 10 July 2009 following the passage of the Code of Practice on Employment under the RDO (Code) in the Legislative Council on 9 July 2009. Accordingly to reports in the South China Morning Post, one organisation has already said that it has prepared two cases for the Equal Opportunities Commission to tackle under the RDO ...
In Hong Kong, some companies located in comparatively less accessible areas provide shuttle bus services for employees to travel to and from the workplace. This, of course, raises issues of liability and entitlement. More specifically, in the unfortunate event of a member of staff being injured while travelling on the company shuttle, he or she is entitled to make a claim under the Employees' Compensation Ordinance (ECO) ...
Being involved in finding solutions!Bid-rigging - a Lesser known Offence in Competition LawBREAKDOWN IN NEGOTIATIONS — THE BINDING EFFECT OF A LETTER OF INTENTBy Catherine Rioux and Patrice CaillancourtYou have decided to sell your business or to initiate a business relationship with a partner. You negotiate the main terms and, before going further, you sign a letter of intent. Then, you decide to withdraw from the negotiations ...
BREAKDOWN IN NEGOTIATIONS - THE BINDING EFFECT OF A LETTER OF INTENT Catherine Rioux [email protected] Patrice André Vaillancourt [email protected] You have decided to sell your business or to initiate a business relationship with a partner. You negotiate the main terms and, before going further, you sign a letter of intent. Then, you decide to withdraw from the negotiations. Can you do it? Not necessarily ...
On July 17, 2008, the Supreme Court of Canada rendered a unanimous judgment setting aside the ruling by the Quebec Court of Appeal and affirming that the employer had fulfilled its duty to accommodate in the case of Hydro-Québec v. Syndicat des employé-e-s de techniques professionnelles et de bureau d’Hydro-Québec, section locale 2000 (SCFP-FTQ). In this judgment, the Court essentially dealt with two aspects ...
The decision in KERRY - August 7, 2009 (1) In this decision, the Supreme Court of Canada has confirmed, inter alia, that the company: May oblige the pension fund to pay the Plan expenses, that is the expenses associated with the employment of actuaries, accountants, counsel and other service providers required for the administration of the Plan; May combine the defined benefit (“DB”) and the defined c
The development of economic ties in the modern world is invariably a driving force in the creation of new legal instruments, the development and improvement of regulatory control, and the establishment of entire institutions and branches of law. Such parallel progress between the economy and the law serves as collateral for the successful development of the state as a whole ...
The “statutory demand procedure” is designed to provide a fast-track method of proceeding to the winding up of a company. It creates a presumption of insolvency. The Statutory Demand is still a basis to issue a winding petition on the ground of “inability to pay debts” as was the case under the 1984 Companies Act ...
This Bill is part of the ongoing measures by the Minister of Justice and the Office de la protection du consommateur (Consumer Protection Bureau) to provide for the comprehensive regulation of commercial practices involving goods and services contracts used by consumers. the Consumer Protection Act (the “CPA”) contains a broad range of content and form requirements affecting the drafting, formation, execution and cancellation of nominate and identified contracts ...
ON JUNE 16, 2009, THE MINISTER OF JUSTICE INTRODUCED BILL 60 ENTITLED AN ACT TO AMEND THE CONSUMER PROTECTION ACT AND OTHER LEGISLATIVE PROVISIONS (THE “BILL”) IN THE NATIONAL ASSEMBLY.This Bill is part of the ongoing measures by the Minister of Justice and the Office de la protection du consommateur (Consumer Protection Bureau) to provide for the comprehensive regulation of commercial practices involving goods and services contracts used by consumers ...
Currently, employers can lawfully require employees to retire at 65 (the so-called default retirement age) as long as they follow the correct procedure. This has come under increasing criticism, and is currently the subject of a legal challenge by the charity Heyday (part of Age Concern). Whatever the outcome of the Heyday challenge, the Government had previously said it would review the default retirement age in 2011 to see if it was still needed ...
On August 7, 2009, the Supreme Court of Canada released its much anticipated decision of Nolan v. Kerry (Canada) Inc., a decision that concerns the ability of a plan sponsor to charge pension plan administrative expenses to the pension fund and the ability of a sponsor to use the actuarial surplus in the defined benefit portion of a pension plan to fund a contribution holiday in respect of the defined contribution portion of the plan ...
The Commission for the Supervision of Business Competition (Komisi Pengawas Persaingan Usaha/KPPU) has issued Regulation No. 1 of 2009 regarding Pre-Notification on Mergers, Consolidations, and Acquisitions. This regulation has been effective since 13 May 2009 ...
The Commission for the Supervision of Business Competition (Komisi Pengawas Persaingan Usaha/KPPU) has issued Regulation No. 2 of 2009 regarding Guidelines for Intellectual Property Rights and the Application of the Anti Monopoly Law. In general the regulation refers to intellectual property rights and Article 50 (b) of Law No. 5 of 1999 on the Prohibition of Monopolistic and Unfair Business Practices (Anti-Monopoly Law) ...
