Comment letters issued in 2016 by the staff of the Division of Corporation Finance of the Securities and Exchange Commission (SEC) to reporting E&P companies relating to their 2015 annual reports continue, as in past years, to focus on disclosure issues such as the effects of low commodity prices and proved undeveloped reserves (PUD) conversion rates ...
A judgment “peppad” with advice A recent South African court decision neatly summarises some of the major issues that need to be considered when comparing trade marks in South Africa. In the case of Dinnermates (Tvl) CC v Piquante Brands International (Pty) Ltd and Another, the facts were that a company applied to register the trade mark PEPPAMATE and a device depicting a pepper with a stalk in classes 29, 30 and 31 ...
Africa tax in brief NIGERIA: 2017 Budget presented to National Assembly Highlights of the new treaty include: ANGOLA: Budget Bill, 2017 approved and adopted by National Assembly On 17 November 2016, the National Assembly approved the Budget Bill, 2017. The final version of Budget Law, 2017 was adopted by the National Assembly on 14 December 2016 ...
ARIPO Developments: Amended Harare Protocol on Patents and Industrial Designs The African Regional Intellectual Property Organization’s (“ARIPO’s”) amended Harare Protocol on Patents and Industrial Designs (the “Protocol”), came into effect on 1 January 2017 and includes some important changes ...
Occupational Health and Safety Act – important notification of draft Ergonomics Regulations, 2017On Friday, 27 January 2017, a notice (GNR.64) was published in Government Gazette No. 40578, in terms of which the Minster of Labour gave notice of her intention to make Ergonomics Regulations in terms of the Occupational Health and Safety Act, 1993 ...
In December 2016, the South African Supreme Court of Appeal (“SCA”) handed down a rare patent judgment in Pasadena Leather Products CC t/a Pasadena Products and another v Resca and another. In a very measured judgment, the SCA sets out in clear and basic terms how one goes about establishing whether or not a patent has been infringed. This judgment will therefore be very useful for laymen and non-IP specialists ...
The Mauritian Limited Liability Partnerships Act, 2016 – what you need to knowDo LLPs have independent legal personality? The Mauritian Limited Liability Partnerships Act, 2016 (the “Act”) came into force on 3 January 2017, and provides for the establishment of limited liability partnership (“LLP”) structures in Mauritius. The LLP is a welcome and awaited addition to the various types of vehicles that can be created in Mauritius ...
Yuppies – do they confuse you? Late last year, the South African Supreme Court of Appeal (“SCA”) handed down an important trade mark judgment in Yuppiechef Holdings (Pty) Ltd v Yuppie Gadgets Holdings (Pty) Ltd. The case dealt with that thorny issue that bedevils so many trade mark cases – confusing similarity. The facts were fairly straightforward. Yuppiechef is an online retail business that specialises in kitchen and household goods ...
First published in October 2003, the National Code of Corporate Governance for Mauritius (“the Code”) was revised in 2016 to align it with new laws and guidelines in Mauritius, as well as to recognise, learn and apply governance lessons from the global financial crisis, and identify and apply international best practices for Mauritius to remain a jurisdiction of choice with the highest standards of corporate governance in Africa ...
In its most important constitutional judgment ever, the UK Supreme Court has this morning confirmed that the UK Parliament in Westminster, rather than the British Government, must decide on the UK’s withdrawal from the European Union (EU). The Court has in this respect upheld the decision of the High Court as reported in our “Brexit Update ...
INCREASE OF FINES FOR DATA PROTECTION BREACHES Dear Ladies and Gentlemen, We would like to inform you of the proposed changes to the Russian Code of the Administrative Offences (hereinafter the “Code of Administrative Offenses”). These changes are aimed at increasing and differentiating administrative liability for violation of Russian personal data protection legislation ...
Changes to the UAE Penal Code (Federal Law No. 3 of 1987) (the “Penal Code”) at the end of 2016 have (i) extended the current bribery provisions to include bribery involving a foreign public official or an official of an international organisation, (ii) increased the penalties for committing a bribery-related offence and (iii) criminalised the offering of a bribe in the private sector ...
The election of Mr. Donald J. Trump as President of the United States has resulted in much consideration by corporates of existing strategies with respect to Iran. Mr. Trump’s lack of experience in public office and some of his election campaign statements continue to cause anxiety. Will Mr ...
Advertising in the Federation of Bosnia & Hercegovina is regulated through a series of laws and regulations (example: Law on Consumer Protection of BiH, Law on Media, Law on Medical Products etc.), but with the new Law on Prohibited Advertising (Official Gazette of FBiH 101 / 16, the "Law"), which entered into force on 31.12 ...
Karanovic & Nikolic is pleased to announce that Rastko Petakovic has been elected as Managing Partner. Rastko takes over the firm's leading position from Dejan Nikolic who served as Managing Partner until 2016.Rastko's dedication and energy was evident from the beginning of his career when he joined the firm as a legal trainee back in 2005 ...
In the post-recession economy, investment managers are looking for increased flexibility and ways to maximise investor returns by minimising set up costs, government fees and other related functionary and advisory costs. That is why many are now “Brexiting” to the British Virgin Islands. For years, the Cayman Islands has held the title of the world’s largest offshore fund domicile. Being the most well-known, it was the safe choice for investment managers ...
(Our crystal balls, that is.) "If you can look into the seeds of time, and say which grain will grow and which will not, speak then unto me … "- William Shakespeare (MacBeth) Happy New Year! 2016 was nothing if not earth-shaking in terms of unexpected developments. The – once unthinkable – departure of Britain from the European Union, was voted in by a legislature feeling increasingly un-homed in its own country ...
Data can be one of a business’s most valuable assets. Market players such as Facebook, Uber, Airbnb and Twitter were built almost entirely on data. Because of the increase in data tracking techniques, countries, companies, and individuals are more and more concerned with how their data – private or professional – is being collected, stored, processed, and transferred ...
Han Kun's 12th Edition 2015 Newsletter provides legal updates and analysis on: illegal pharmaceutical and medical device advertising under the new advertising law, a large wave of income tax incentives coming, and pros and cons of drug price renegotiation. To read the entire newsletter, click here ...
On 15 December 2016, Foxtel and a number of movie studios secured the first site blocking orders in Australia. The orders of Nicholas J of the Federal Court require the major Australian ISPs to block access to a number of infamous sources of illegal content, namely, The Pirate Bay, TorrentHound, IsoHunt, Torrentz and SolarMovie (Pirate Sites) ...
We are often asked whether negotiating an IPD agreement takes longer than negotiating a traditional agreement, such as a construction manager at risk contract. The answer is probably “yes”, although that answer is incomplete.[1] A better answer, would be that negotiating and crafting the IPD agreement is an important step that increases the likelihood that a project will be successful ...
Effective January 1, 2017, new rules will govern the taxation of mutual fund corporations structured as ?switch funds?. Investors switching between funds will no longer be able to do so without incurring taxable capital gains. This article summarizes the impact of such changes. Description of "switch funds" under the current regime In Canada, most mutual funds are structured as trusts and some are structured as corporations (referred to as ?corporate class funds?) ...
Clarifications of the Supreme court on application of general provisions of the Russian Civil Code on obligations and their performance Dear colleagues,On November 22, 2016 the Plenary Session of the Supreme Court of the Russian Federation adopted the Ruling No. 54 "On application of general provisions of the Russian Civil Code on obligations and their performance", which contains clarifications of the Plenary Session related to the provisions of the general part of obligations law ...
Blockchain technology holds vast potential that can only be unleashed with regulatory backing. The potential, initially perceived only by a small circle of cryptography enthusiasts, is now recognised by central banks, governments, and major financial institutions.Smart contracts and decentralised autonomous organisations can change the legal system as we know it while generating new models for the economy ...
