The State Council promulgated the Regulations for the Administration of Direct Sales (the “Direct Sales Regulations”) and the Regulations for the Prohibition of Pyramid Sales (the “Pyramid Regulations”) on 23 August 2005. The Direct Sales Regulations, which entered into effect on 1 December 2005, allow the reintroduction into China of the direct sales business model that was banned in 1998 ...
The Central Government of the People’s Republic of China (“the Mainland”) and the Government of the Hong Kong Special Administrative Region (“Hong Kong”) reached a further understanding regarding the Closer Economic Partnership Arrangement between the Mainland and Hong Kong (“CEPA”) (as discussed in the July 2003 and November 2003 issues of China Legal Update) on 27 August 2004 ...
The Ministry of Finance promulgated the Measures for the Examination and Approval of the Advanced Recovery of Their Investment by Foreign Partners in Chinese-foreign Cooperative Joint Venture Enterprises on 9 June 2005. The Measures, which entered into effect on 1 September 2005, specify the conditions that foreign investors must satisfy to obtain advanced recovery of their investment in a Chinese-foreign cooperative joint venture (“CJV”) ...
The National Development and Reform Commission promulgated the Provisional Measures for the Administration of Venture Capital Enterprises on 15 November 2005. When they enter into effect on 1 March 2006, the Measures will be the first national statute governing venture capital investment in China ...
The new Irish Commercial Court is living up to expectations by providing a fast and effective means of resolving commercial disputes. A&L Goodbody recently secured for a full hearing within two days of a case being accepted by the Court. The matter involved an arbitrator's referral of a point of law. The speed as well as the terms of decision were crucial in protecting the client's interest ...
Scottish Enterprise has a number of schemes to make it easier for small to medium-sized businesses to access growth funding, such as a loan, equity finance - where the investors take shares in your company - or a combination of the two ...
The Wider Economic Environment In 1978, the Government of the People’s Republic of China embarked on a comprehensive program to reform China’s state-planned economy and introduce a free market economy. The new capitalist structures were initially intended to co-exist with the state-planned economy, but a massive surge in foreign investment has since stimulated the free market economy to eclipse the public sector in the industrialised south and eastern seaboard of the country ...
“We consider that the Competition Act, 2002 captures the bulk of the anti-competitive practices which the Groceries Order was originally designed to prevent. However, we consider it desirable to significantly strengthen the Act in some respects and particularly to specially prohibit resale price maintenance, unfair discrimination and “hello money”. Such provisions will, henceforth, be enforced by the Competition Authority ...
This Order . which came into effect on 1 December 2005, facilitates the expansion of the electronic filing system in the Companies Registration Office. Companies may now appoint Electronic Filing Agents to sign and file documents with the CRO in electronic form. The Minister of State at the Department of Enterprise, Trade and Employment, Mr Michael Ahern, stated, “The introduction of a statutory Electronic Filing Agent will greatly simplify the process for companies and their agents ...
In the Matter of Swanpool Ltd (in Voluntary Liquidation) and Travelodge Ltd (in Voluntary Liquidation) and in the Matter of Section 150 of the Companies Act 1990; McLaughlin v Lannen and Lannen, High Court, Clarke J, 4 November 2005 Facts: McLaughlin, the liquidator of Swanpool and Travelodge, sought a declaration that two directors of the companies be restricted (i.e. prohibited from acting as directors of companies for 5 years) ...
In the Matter of James McMenamin Ltd. (in Voluntary Liquidation), High Court, Laffoy J, 18 April 2005 Facts: In this case, a company in liquidation suddenly found funds that were previously unavailable, in an amount that would allow it to trade successfully again. Therefore, one of the contributories of the company sought to have the liquidation halted so that the company could resume trading as normal. The company’s sole asset was a 26-acre plot of land ...
Academics and commentators in general have always been interested in the study of the enforcement process in regulatory agencies. In the last years, with the rise of the regulatory state[1] and thus the increased number of regulatory agencies, the number of studies has only increased. There is an important amount of literature on the subject and an increasing number of theories and models to explain regulatory enforcement ...
Commission decision in Case No. COMP/39.116/B-2 – Coca-Cola issued pursuant to Article 9(1) of the Council Regulation 1/2003 On 22 June 2005 the Commission adopted a decision under Article 9(1) of the Council Regulation no. 1/2003 approving commitments offered by the Coca-Cola Company, Bottling Holding (Luxembourg), Coca-Cola Erfrischugsgetränke AG and Coca-Cola Hellenic Bottling Company (hereinafter "Coca-Cola") on 19 October 2004 ...
Directive 2005/29/EC of the European Parliament and of the Council of 11 May 2005 concerning unfair business-to-consumer commercial practices in the internal market and amending Council Directive 84/450/EEC, Directives 97/7/EC, 98/27/EC and 2002/65/EC of the European Parliament and of the Council and Regulation (EC) No 2006/2004 of the European Parliament and of the Council (OJ [2005] L 149) – hereinafter the “Directive” The Directive is aimed at approximation of laws of the Member States regul
The structure of Stock Companies consists of three organs: The General Meeting of Shareholders, as the supreme organ; the Board of Directors, as an administrative organ; and the Supervisor or Supervisors, as the supervision organ. The Board of Directors is a collegiate organ whose members are shareholders periodically elected by the General Meeting of Shareholders and which function is to perform all the acts of administration, representing the company before third parties ...
The first idea that we may conceive only by reading the title of the present article is: What signals may constitute a trademark?, the answer to this question is given by section 3 of the Law No. 380 “General Law on Trade Marks and Other Distinctive Signs”, published in The Gazette No. 70, of April 16 th 2001, which is the norm regulating this matter ...
In February of the present year, the Law No. 511 on the Creation of the Superintendence of Public Services (SISEP) was enacted. This Law substituted on its functions the Institutions rendering Public Services of Telecommunications, Energy and Drinking Water, (INAA, TELCOR; INE), and revoked their Organic Laws leaving them without any effect. From this legal event it existed in Nicaragua uncertainty for all the private parties who had established legal relationships with these institutions ...
Experts agree that good privacy begins with effective transparency. Transparency requires privacy notices that are easy to understand, facilitate comparison, and are actionable. A system of privacy notices also must be compliant with legal requirements that may be different from country to country, and jurisdiction to jurisdiction. Research on how people learn has helped us understand that easy-to read notices must be short, use plain language, and be in a common format ...
Summary: On 1 July 2005, the 7th amendment to the German Act against Restraints of Competition (Gesetz gegen Wettbewerbsbeschränkungen – “GWB”) entered into force. It implies major changes in German competition law. The objective of the amendment is to harmonize German with European competition law. In principle, cases having only a national scope will now be judged by similar provisions as cases that have a European dimension ...
The term “joint and several” basis means that any of the parties involved could be sued for the full amount if a warranty claim arises. Management teams often come under pressure from equity investors to give warranties under an investment agreement on such a basis. Whether the team accepts it really depends on the bargaining position of the parties ...
Eurofood IFSC Limited: Opinion of Advocate General Jacobs, 27 September 2005, Case C-341-04 This significant opinion by Advocate General Jacobs clarifies provisions of the Insolvency Regulation (1346/2000) concerning a company’s centre of main interests (COMI) and the recognition of judgments in the courts of other EU Member States. While concerning Irish and Italian entities, the case has attracted interest across the EU ...
Rayan Restaurant Limited v Julies Company Restaurant Limited and others, High Court, 18 April 2005, reported at Firstlaw, reference FL10920 This case concerns an application for security for costs, which is an application made to court by a defendant. The defendant asks the court to order the plaintiff to lodge money into court, assurance that the plaintiff will be able to discharge at least some of its costs, if the defendant succeeds in the trial and is awarded its costs ...