Beginning on January 1, 2017, the State Labour Inspectorate has begun checking presence of the information on results of special evaluation of working conditions on employers’ official websites. Employers shall post on their official websites information concerning results of performed evaluation and the list of proposed actions on improvement of employees’ working conditions ...
The SEC’s Office of Compliance Inspections and Examinations recently announced its 2017 examination priorities for broker-dealers, investment advisers, and investment funds. OCIE, which serves as the “eyes and ears” of the Commission, identified the current staff’s priorities as a focus on (i) matters of importance to retail investors, (ii) risks specific to elderly and retiring investors, and (iii) assessing market-wide risks ...
In its recent judgment of 21 December 2016, the Tournai Commercial Court (‘Court’) declared it did not have jurisdiction to deal with a dispute concerning the termination of an exclusive distributorship that the parties had agreed to submit to arbitration. This judgment was based on the new definition of arbitrability in the Belgian Judicial Code, which entered into force in 2013, and marks a new era for the arbitrability of Belgian distributorship law disputes ...
The superintending and reforming power of the Superior Court of Québec over the decisions of the Court of Québec is indisputable. It is furthermore confirmed by article 34 of the Code of Civil Procedure1, which grants to the Superior Court powers to judicially review decisions made by the Québec courts, with the exception of the Court of Appeal ...
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 ...
Does a change of the terms of a share constitute a new “date of issue” for purposes of section 8E of the Income Tax Act? In terms of section 8E of the South African Income Tax Act, 1962 (the “Act”), dividends received by or accrued to a person in respect of certain shares and “equity instruments”, as defined, must be deemed in relation to that person to be an amount of income if that share or equity instrument constitutes a “hybrid equity instru
Final changes to the Special Voluntary Disclosure Programme On 26 October 2016, the South African Minister of Finance tabled the Rates and Monetary Amounts and Amendment of Revenue Laws Bill, Bill 19 of 2016, in Parliament when he introduced the so-called “Mini Budget”. This Bill contains the legislation regulating the Special Voluntary Disclosure Programme (“SVDP”), which commenced on 1 October 2016 and was to end on 30 June 2017 ...
Introduction of Section 7C to The Income Tax Act and its Effect on Estate Planning Section 25B(1) of the Income Tax Act provides that any amount received by or accrued to or in favour of any person during any year of assessment in his/her capacity as a trustee of a trust, to the extent to which such amount has been received for the immediate or future benefit any ascertained beneficiary who has a vested interest to that amount during that year, this shall be deemed to be an amount that
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 ...
SARS Interpretation Note 94 – contingent liabilities assumed in the acquisition of a going concern Importantly, SARS’ application of the latter distinction appears to follow the reasoning put forward by the Privy Council in Commissioner of Inland Revenue v New Zealand Forest Research Institute Ltd, wherein it was held that expenditure incurred in respect of provisions taken over was incurred as part of the purchase price, which was capital in nature and therefore not deductib
Section 197 of the South African Labour Relations Act: The ebb and flow of what constitutes a going concern More recently, in 2016, in Rural Maintenance (Pty) Limited and Another v Maluti-A-Phofung Local Municipality, the Constitutional Court dealt with outsourcing and the impact of a transfer of assets by the outgoing entity in evaluating whether a transfer of a business as a going concern existed ...
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 ...
As small and medium-sized businesses grow and expand, it is common for them to do business outside their home state; sometimes through the internet and other times by having “boots on the ground.” For example, having employees travel to other states to promote sales, providing assistance to customers, attending trade shows, and engaging in other business activities ...
According to a recent study, 25% of new cars sold around the world will be self-driving by 20351. A group of researchers from Princeton University estimates that by 2035-2050 over half of American cars will be self-driving2. Smart cars are currently being sold in Québec and their advent is sure to have repercussions on several players. Self-Driving Cars Smart cars use information and communication technology in accident prevention systems with varying levels of automation ...
"The best things in life are free, the second best things are very, very expensive."—Coco Chanel Think of the most expensive cities in the world to live and places like London, New York and Paris come to mind. These cities epitomize the pinnacle of sophisticated and luxurious living, as romanticized all too often on the silver screen ...
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 ...
2016 California Labor and Employment Legislation SB 3 Raises California's Minimum Wage SB 3 will increase the state minimum wage to $15.00 per hour over the next six years. The bill sets two minimum wage rate hikes, depending on whether an employer has 26 or more, or 25 or fewer, employees. All employers in the state must comply with the new minimum wage law ...
Just weeks into the new Administration, perhaps the only certain thing is that there will be uncertainty as the Administration makes its mark and works to fulfill campaign promises. Meanwhile, restaurant chains and food companies are trying to allocate resources to best address business priorities and hot legal issues ...
On 1 January 2017, the Liechtenstein reform of the private limited company (Gesellschaft mit beschränkter Haftung; "GmbH") entered into force. While being highly popular in many other European countries, the GmbH in the past led a merely marginal existence in Liechtenstein ...
As part of the implementation of the Mexican energy reform of 2013, several new regulations and administrative guidelines affecting the hydrocarbons and power industries were issued during December 2016 and January 2017. These are of particular importance to oil and gas producers, power generators and others looking to invest or expand operations in Mexico’s dynamic energy sector. I. Hydrocarbons December 2, 2016. Open season exemptions for natural gas pipelines ...
