The British Virgin Islands (BVI) has passed legislation requiring certain legal entities carrying on relevant activities to demonstrate adequate economic substance in the BVI. The owners of any company or limited partnership registered or incorporated in the BVI should be aware of this legislation and consider how they may be affected. The Economic Substance (Companies and Limited Partnerships) Act, 2018 (the Act) came into force on January 1st, 2019 ...
This is to inform you that, on March 18 2019, the Federal Law of the Russian Federation on “Introduction of amendments to the first, second part and Article 1124 of the third part of the Civil Code of the Russian Federation” (the “Law”) was adopted ...
This is to inform you that, on March 18 2019, the Federal Law of the Russian Federation on “Introduction of amendments to the first, second part and Article 1124 of the third part of the Civil Code of the Russian Federation” (the “Law”) was adopted ...
This is to inform you that, on March 18 2019, the Federal Law of the Russian Federation on “Introduction of amendments to the first, second part and Article 1124 of the third part of the Civil Code of the Russian Federation” (the “Law”) was adopted ...
Brexit Newsletter from AED The Registration Duties, Estates and VAT Authority (AED) has issued a Newsletter informing all taxpayers of VAT related consequences of a British exit from the European Union (EU) as from 29 March 2019, (in case no withdrawal agreement is agreed between the EU and the United Kingdom (UK). Click here to access to the AED Newsletter. In the meantime, the date of the withdrawal of the UK from the EU has been postponed until 12 April 2019 ...
A long-running legal dispute in the USA involving the brand Louis Vuitton is interesting. Not only does it deal with parody as a defence to trade mark infringement, but it also deals with trade mark bullying.What happened here was that Louis Vuitton sued a company called My Other Bag for selling cartoon-style tote bags bearing the name Louis Vuitton, claiming trade mark and copyright infringement. The case failed, with the alleged infringer successfully raising the defence of parody ...
We have reported on the demise of the Advertising Standards Authority (“ASA”) in previous articles, but there’s now a new advertising sheriff in town, the Advertising Regulatory Board (“ARB”), a body whose strapline is “Consumer protection through responsible advertising”. Gail Schimmel is the CEO of this new body ...
Some brands simply seem to play a major role in our lives – Apple, Facebook, Google, Netflix. These are brands that for many of us have become something of an ever present. One brand that surely belongs on that list is Amazon, one of the most important, influential and high-profile brands in the world. Brand Finance recently declared Amazon to be the world’s most valuable brand, valuing it at USD 50 billion. So, it makes sense to keep abreast of what is going on there ...
South Africa’s East Coast Radio listeners recently got a great beginners’ class in trade mark law. It would be a shame if all the people who missed the broadcast lost out.The discussion dealt with a dispute involving the fast-food chain Chicken Licken and a small Durban vegan restaurant called Oh My Soul. It featured an interview with the couple who own the restuarant, Tallulah and Richard Duffin, as well as the attorney acting for Chicken Licken ...
Uganda has enacted the Investment Code Act, 2019 (the “Code”). The previous Code was enacted in 1991 and was long overdue for amendment given the changes in approach to attracting investment and the glaring weaknesses in the old Code. The new Code strengthens the Uganda Investment Authority (the “Authority”), establishing it as a one-stop investment centre, and also provides for the financing and auditing of the Authority ...
AFRICA: African Continental Free Trade Area Agreement developments Botswana and Zambia signed the African Continental Free Trade Area Agreement (“ACFTA”) on 10 February 2019 at the 32nd summit of the African Union in Addis Ababa, whereas the Ethiopian Council of Ministers approved the ACFTA on 2 February 2019 and the Parliament of Senegal on 23 January 2019 ...
In the listed sector, shareholders may be presented with various elections to be made as regards the nature of distributions made by companies in which equity investments are held. Shareholders can therefore be faced with an election to receive payment of a cash dividend, or in lieu thereof, to receive capitalisation shares from the underlying company or to partake in a dividend reinvestment plan ...
Sections 113 and 115 of the Companies Act, 2008 provide for an automatic statutory merger of two companies. The transfer occurs by way of operation of law, and barring any express prohibition to the contrary in a contractual arrangement, no third party consent is generally required to implement the merger. This type of transaction may typically give effect to a desired corporate reorganisation, in terms of which an existing company is liquidated, wound up and/or deregistered ...
The reportable arrangement provisions were established by the South African Revenue Service (“SARS”) with the objective of obtaining information on certain types of transactions. The circumstances under which a person should report an “arrangement” to SARS, as defined in section 34 of the Tax Administration Act, 2011 (the “TAA”), are contained in sections 34 to 39 of the TAA ...
With the enactment of Law No. 81 on Protection of Personal Data, the Republic of Panama aims to establish the principles, rights, obligations and procedures that regulate the protection of personal data, also considering their interrelation with private life and other rights and fundamental freedoms of citizens, by natural or legal persons, public or private law, lucrative or not, that process personal data in the terms provided in the Law ...
The law governing companies globally, and in India, recognises a company to be a personality, distinct from its shareholders. In the celebrated case of Salomon v Salomon & Co. Ltd[1]., Lord Halsbury LC, had stated:“[A] company must be treated like any other independent person with its rights and liabilities [legally] appropriate to itself … whatever may have been the ideas or schemes of those who brought it into existence.”1 ...
The Regional Labor Court (LAG) of Baden-Württemberg, in its ruling of December 20, 2018 (Ref. 17 Sat 11/18), granted an employee a comprehensive right to information against his employer with regard to all personal data collected about his person. The right to information was explicitly confirmed in relation to personal data resulting from internal investigations and data from potential whistleblowers ...
The IRS recently modernized the public approval process (“TEFRA approval”) for private activity bonds (“bonds”) for TEFRA approvals given on or after April 1, 2019. States and political subdivisions issuing bonds, or on whose behalf bonds are issued (“issuers”), and states and political subdivisions whose geographic jurisdiction contain the site of a project (“hosts”) may take advantage of these new rules ...
Companies will need to take appropriate steps in the future to protect their secrets. The new law on the protection of trade secrets places greater demands on the sensitivity of secrets to this extent. Whistleblowers can also reveal trade secrets with impunity - one more reason to set up a whistleblower hotline. Reverse engineering will be a permissible way of acquiring a trade secret in the future ...
Although it is included in Indonesia’s annual national legislation program(Program Legislasi Nasional/Prolegnas)so far, the draft new Indonesian Competition Law which will replace Law No. 5 of 1999 on The Prohibition against Monopolistic Practices and Unfair Business Competition (the “Competition Law”), has not been passed ...
As seen in Bank Director A bank’s board of directors must answer to a variety of constituencies, including shareholders, regulatory agencies, customers and employees. At times those constituencies may have competing interests or priorities. Other times, what may appear to be competing interests are actually variations of aligned interests ...
We would like to kindly remind you that from 7 January 2019 to 28 March 2019, the Financial Conduct Authority ("FCA") online system ‘Connect’ is open for EEA-based firms and fund managers of EEA-domiciled investment funds (UCITS and AIF) currently passported into the UK to notify the FCA about their intention to participate in the temporary permissions regime (“TPR”) ...
Are the two trade marks confusingly similar? It’s the question that’s most commonly asked in trade mark law. The issue of confusion can arise in the context of registration: should the trade mark be registered in the face of the earlier trade mark? It can also arise in the context of use: does the trade mark that’s being used infringe the registered trade mark? The two cases that we will consider here both involve registration ...
TheBig Maccase has enjoyed considerable publicity – many publications have reported on it, includingWorld IP Review. The decision shines a spotlight on some important aspects of trade mark law. In this case, an Irish company called Supermac’s applied for the cancellation of the EU trade mark registration for Big Mac (belonging to McDonald’s) on the basis of non-use ...
