Regarding the Public Tender Process for the supply of energy and power to distribution companies that will take place this year (“2021/01 Tender Process”), please consider the following: On December 21, 2020, the National Energy Commission (CNE) approved the definitive Tender Rules for this process (the "Rules"), by means of the Exempt Resolution No. 478 ...
The objective of open banking is to have a payments and markets infrastructure which provides customers with the ability to review all their banking and financial information seamlessly. Open banking will lead to a situation where regardless of how many accounts and financial products a customer has with multiple institutions, he can manage them from a centralised location without having to check out from one system to another ...
In the Official Gazette No. 27, volume No. 426, dated February 10th, 2020, was published Decree No. 463, which contains the Law of Electronic Commerce – hereinafter “LCE” -, which has the purpose of establishing a legal framework for electronic relations of a commercial, contractual nature, carried out by digital, electronic, or technologically equivalent means. As stipulated in Decree No ...
With the main goal of the EU being to cut CO2 emissions in order to become carbon neutral by 2050, offshore represents valuable “available space” for the development of clean energy projects. While in some cases offshore is already a crowded place, other offshore locations are still free of significant energy infrastructure. Therefore, planning ahead is more important than ever ...
The reasons for the changes to the Golden visa rules: A legislative authorisation in the 2020 State Budget 2020 authorised the Government to review the rules on residence permits for investment provided for in Law 23/2007 of 4 July by the end of 2020. The aim is to encourage investment in inland areas, urban regeneration, cultural heritage, activities of high environmental or social value, and productive investment and job creation ...
In January 2021, the U.S. Dept. of Justice (DOJ) announced $2.2 billion in False Claims Act (FCA) recoveries for fiscal year 2020, which ended on September 30.[1] Although this amount is substantial, it nonetheless represents the smallest recovery figure in 10 years. These figures reflect the Trump administration’s unaggressive enforcement efforts and its restrictive view of the FCA. As recently as 2016, FCA recovery exceeded $4.5 billion. Recoveries in 2019 were $3 ...
Over the last few years, companies listed on both the primary and secondary market of the Johannesburg Stock Exchange (“JSE”), have been obliged to comply with increasingly onerous and often unclear reporting obligations in respect of the status of their transformation. On 3 February 2021, the B-BBEE Commission offered some clarity, however, there are still uncertainties that need to be addressed for many JSE-listed companies to overcome reporting challenges ...
With the Protection of Personal Information Act, 2013 ("POPIA") deadline closing in on 1 July 2021, many organisations are starting to feel the mounting pressure of becoming compliant with POPIA. A good starting point in any POPIA compliance journey is the appointment of an Information Officer for your organisation. Who is the Information Officer? POPIA, by default, designates the head of any private body as the Information Officer ...
The transition period started after the Brexit ended on 1 January 2021. This means that the United Kingdom has officially lost its status as EU Member State. This has implications for competition law and business. What has changed since 1 January 2021? Firstly, the Competition and Markets Authority )CMA) is no longer competent to enforce EU competition law and investigate possible breaches in the United Kingdom ...
This article forms part of our ‘New How: Perspectives’ report: ‘Can real estate help solve the productivity puzzle?. To access this free report, please click the link below. We all know a happy engaged employee is a productive and successful employee. Unfortunately, the UK has one of the least engaged employee populations in Europe ...
The judgment of the United Kingdom Supreme Court On 1 May 2020, the Financial Conduct Authority (“FCA”), the body that oversees the insurance industry in the United Kingdom, announced that it wanted to obtain a ruling from the English courts on the meaning and effect of the sample of business interruption clauses that it selected from eight insurers in particular ...
Following the differences that came to light with AstraZeneca at the end of last week, the European Commission approved Implementing Regulation (EU) 2021/111 of 29 January 2021, which came into force on Saturday, 30 January. The Regulation prohibits the unauthorised exportation of vaccines against SARS-CoV-2 outside the European Union ...
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In recent years, with the continuous improvement of science and technology standards in China, the country’s cryptography technical capabilities have also begun to enter the global forefront. In turn, China has promulgated various policies and measures to fulfill its non-proliferation obligations, which have promoted the gradual implementation of control measures for the export of cryptographic technologies ...
Over the next decade, challenges around public funding and a shift in live/work priorities will create an increasing need for public-private collaboration as we seek to rebuild and regenerate our towns and cities in a post-Covid and post-Brexit climate ...
February marks the start of the second month after Brexit materializing. The Member States have finally understood that the United Kingdom (UK) is no longer in the Europen Union (EU) so that the fairy-tale of the Single Market that has lasted for decades is now over. Although many businesses resolved various legal or regulatory issues before 1st January, new challenges inevitably keep arising now, when Brexit is a reality ...
As a developing country, Indonesia is still considered to have limited Government fiscal capacity and limited state-owned enterprise (Badan Usaha Milik Negara – “BUMN”) and financial sector funding capacity indicating that domestic capacity is not sufficient to meet what is needed to finance development and support economic growth and opportunities ...
On 4 January 2021, the President of Republic of Indonesia issued Regulation No. 2 of 2021 on the Ratification of the Convention Abolishing the Requirement to Legalize Foreign Public Documents (“PR 2/2021”) (the convention is hereinafter referred to as the “Apostille Convention”). The Apostille Convention was concluded on 5 October 1961 and is intended to simplify a series of formalities for documents signed overseas for the contracting states ...
The with backdrop of a global pandemic, John Hartley looks at the modern structure of global corporate investigations. It is a small world and getting smaller. The speed at which COVID-19 spread across the world when most easily transmitted by being within two meters of each other is a clear indication of just how small the world is getting ...
A recent UK Supreme Court Judgment, the Financial Conduct Authority v Arch Insurance (UK Ltd) & Ors [2021] UKSC 1, clarified whether a variety of insurance policy wordings cover business interruption losses resulting from the COVID-19 pandemic and public health measures taken by UK authorities in response to the pandemic from March 2020 ...
Early last year the Prime Minister dropped the “E-bomb” on British motorists, announcing a ban on cars powered wholly by petrol and diesel from 2030, and on the sale of new hybrid vehicles with the capability to drive a significant distance with zero emissions (such as plug-in or full hybrids) from 2035. Since then, the COVID-19 pandemic has impacted the world in an unprecedented manner ...
The owners of multistate businesses must consider many factors when deciding how to structure their business ventures, and state taxation should not be overlooked. The accompanying tables can assist in that evaluation for limited liability companies and limited liability partnerships. In recent years, LLCs and, to a lesser extent, limited partnerships and LLPs have become the popular choice for structuring or restructuring multistate business entities ...
