The UAE continues to implement new measures on a daily basis to curb the spread of COVID-19. Those measures are being adopted, announced and implemented at a very rapid pace. For ease of reference, we present here a summary of the key measures that have been implemented by various UAE authorities between 18 March 2020 and the time of this inBrief, 9:00 a.m. on Friday, 3 April 2020 ...
Shoosmiths’ energy & infrastructure partner Chris Pritchett hosted a panel discussion at the Solar and Storage Live London last week, focussing on the often-overlooked elements of the low carbon transport transition, namely accessibility, regional parity, and the regulatory and industry code barriers to rolling out some of the solutions that this transition so desperately needs ...
When initially approaching potential lenders it’s important to be clear about the level of flexibility you’ll need in your finance documents in order to accommodate future plans and aspirations. Amending documents and renegotiating terms is a huge drain on resources (and in current climes, costly) and your aim should be to ensure financing terms will remain fit for purpose throughout their term ...
Background The PRC Futures and Derivatives Law (the “FDL”) was adopted on 20 April 2022 and is scheduled to come into effect on 1 August 2022. This new law is another important milestone in the construction of the rule of law in China's capital market ...
Background The PRC Futures and Derivatives Law (the “FDL”) was adopted on 20 April 2022 and is scheduled to come into effect on 1 August 2022. This new law is another important milestone in the construction of the rule of law in China's capital market ...
Preface On 26 April 2021, the Futures Law of the People’s Republic of China (Draft for Consultation) (“Futures Law (Draft)”) was deliberated at the 28th Meeting of the 13th Standing Committee of the National People’s Congress, and was later issued for public consultation on 29 April 2021, receiving keen, widespread interest of the domestic futures industry and the over-the-counter (“OTC”) derivatives market ...
In the fourth quarter of 2023, Sen. Raphael Warnock, D-Ga., made industry news, important banking and financial rule changes were implemented, and Georgia's Department of Banking and Finance quietly issued important new regulatory guidance on a handful of topics. Warnock Addresses Banking Committee, Introduces Legislation First, during a three-plus hour U.S ...
The Philippine Supreme Court has issued a decision that may have a significant impact on how local nationality requirements (i.e., constitutional and statutory provisions requiring minimum Filipino ownership in certain industries) must be construed and applied. Enterprises such as telecommunications, media, advertising and land ownership are subject to such nationality requirements.The case of Gamboa v. Teves, et al. (G.R. No ...
The Court of Appeal has overturned existing rules in England and Wales about administrators’ liability to pay rents falling due before their appointment. The Court ruled that rent payable in advance will now be treated as an administration expense for the whole period of occupation of premises by administrators for the benefit of the administration. Game's administrators sold the assets of the group, including a number of the stores, which continued to trade ...
The Land Registry is the gatekeeper of legal ownership of land in England and Wales. A prompt and successful application for registration is an essential step at the end of most property transactions. In this article we will look at why registration of property transactions is important and the consequences of delays in the process. We will highlight common difficulties and barriers to registration and provide practical advice to overcome them ...
The government has published its long-awaited response to the consultation on implementing the new building control regime for higher-risk buildings (HRBs) and wider changes to the building regulations for all buildings. The provisions will be implemented through secondary legislation (The Building (Higher-Risk Buildings Procedures) (England) Regulations 2023 and The Building Regulations etc. (Amendment) (England) Regulations 2023)) that will come into force on 1 October 2023 ...
In times such as these, it is important to get the best available legal information and advice and remember that not all information and advice will be applicable to a particular situation or contract. Many businesses in the United Arab Emirates (the UAE) and the countries of the Gulf Cooperation Council (the GCC) are wondering what to do with respect to their obligations or those of their cocontracting parties ...
When auditing annual financial statements, auditors are required to draw attention to risks that potentially threaten the company. Such risks can result for example from failure to implement the EU General Data Protection Regulation (GDPR) that has been in force since May 25, 2018. Given the substantial fines envisaged in the GDPR, these risks can result in high provisions, in the worst case in refusal on the part of the auditor to issue an unqualified audit opinion ...
Time is running out for developers that have not yet signed the Developer Remediation Contract. The Secretary of State for Levelling Up, Housing and Communities, Michael Gove, delivered a clear message last week: “The Responsible Actors Scheme is coming. Only developers who behave responsibly will be trusted to build the homes of the future. Any eligible developers who fail to do the right thing will need to find a new line of work” ...
Lawyers are often criticised for using overly complex legal and technical wording in contracts. The purpose of a contract is, amongst other things, to clearly set out the rights and obligations of the contracting parties, and to limit uncertainty during the particular project. To this end, it is important to use plain English in contract drafting and as a general rule, to use short sentences, defined terms and a clear and logical structure ...
On March 31, 2006, the Treasury Department published in the Federal Official Gazette the "General Foreign Trade Rules for 2006" (GFTR), intended to help taxpayers in the application of the law. While the GFTR may give taxpayers rights, they may not establish obligations different from those contained in the Mexican Constitution or in laws and regulations ...
On April 16, 2024, the Supreme Decree No. 22/2023 from the Ministry of Housing and Urbanism was published in the Official Gazette. This decree amends Supreme Decree No. 47 of 1992 of the Ministry of Housing and Urbanism, General Ordinance of Urbanism and Construction, to align its provisions with the requirements of Law No. 20,920, for the management of waste, extended producer responsibility and promotion of recycling (the “Modification”) ...
The real estate sector is facing numerous economic challenges. The property and casualty markets are hardening, while tenants are looking for rent concessions. Meanwhile, moves by some businesses to allow more working from home could significantly reduce demand for office space. When insurance expenses are increasing, a captive may be used to stabilise premium costs by increasing deductibles and insuring the deductibles in the captive ...
On 14 February 2014 the South African Department of Trade & Industry (DTI) gave notice of its intention to prohibit the use of a large number of European food and drinks names in terms of section 15 of the Merchandise Marks Act (MMA) - confusingly the notice also makes reference to section 13 of the MMA, a section that no longer exists ...
On January 25, 2021, the German federal Cabinet introduced the draft for the new Cyber Security Act (“IT Security Act 2.0”) into the legislative process ( Draft of a Second Act to Increase the Security of Information Technology Systems, printed matter 19/26106 [draft of a second law to increase the security of information technology systems, document 19/26106] ). The new German Cyber Security Act is intended to replace the old German Cyber Security Act of July 2015 ...
Over-indebted companies still exempted from filing duty until 31 December 2020COVID-19-affected companies to benefit from easier access to protective shield proceedings and preventive restructuring schemes/ regimes as from 1 January 2021 Two German legislative initiatives taken in September 2020 will have an immediate impact on the options available to restructure a business under German law: DUTY TO FILE FOR INSOLVENCY RE-INSTATED FOR ILLIQUID COMPANIES AS OF 1 OCTOBER 2020; SUSPENSIO
Regulatory framework- 1 What are the principal governmental and regulatory policies that govern the banking sector? The government recognises the vital role of banks in providing an environment conducive to the sustained development of the country’s economy ...
v/:* {behavior:url(#default#VML);} o/:* {behavior:url(#default#VML);} w/:* {behavior:url(#default#VML);} ...
1 Collateral What types of collateral are available? Collateral used in secured financings can also be used in project financings ...
Chilean law allows the creation of security interests over almost all kinds of assets and rights held by project companies, except for certain assets listed in the Civil Procedure Code that may not be attached under Chilean law (eg, working tools and assets employed in services that may not be stopped with serious harm to public transportation or health, household assets, salaries and child support up to a certain amount) ...
