The Companies Act 2006, which is likely to come into force towards the end of 2007, represents the first attempt to codify directors' duties in UK law. In broad terms, a director's duties currently include the requirement to exercise reasonable skill, care and judgement, not to exceed the powers given to him/her, to avoid conflicts of interest and to act in good faith and in the interests of the company ...
The long-awaited revision to the United States federal franchise regulation which requires presale disclosure throughout the country will become effective July 1, 2007, the Federal Trade Commission (“FTC”) January 23. The FTC Franchising Trade Regulation Rule (“FTC Rule”), initially adopted in 1979, has been under review since the early 1990s. Although the focus was upon making the disclosures and compliance burdens more relevant to changes in the U.S ...
The Supreme Court of Canada recently handed down a highly anticipated judgment in McGill University Health Centre (Montreal General Hospital) (the “MUHC”) vs. Syndicat des employés de l’Hôpital Général de Montréal (2007 SCC 4) ...
IntroductionThe ECJ's decision in Placanica has quite rightly generated a lot of comment in this publication and in the press more generally. As the dust settles three views have emerged as to the potential impact of the judgement ...
It is generally accepted that mentoring is important to the retention and professional development of attorneys – particularly minority attorneys. However, despite touting their mentoring programs, it appears that few, if any, law firms and corporations “get it right.” Assigning a mentor often results in a few lunches between two people who may or may not have anything in common ...
The European Commission continues its interest in the energy sector in 2007 by imposing record fines on participants in a gas insulated switchgear cartel and carrying out unannounced inspections on several power transformer manufacturers suspected of participating in a cartel. Siemens and ABB confirm involvement in both investigations. A record fine of EUR 992 for a lifts and escalators cartel has also been announced ...
Following a year and half long market investigation, the OFT published on 7 December 2006 its report on the commercial use of public sector information (PSI). The report makes a number of recommendations aimed at increasing "fair" access to PSI, particularly where the public sector body holding the information is itself active in providing value added products to end users ...
This paper was prepared for the Pacific Business & Law Institute's 12th Annual Conference on The Essential Tasks of Pension and Benefit Plan Trustees, held in Vancouver, British Columbia on February 20, 2007 Most lawyers are familiar with claims for coverage under disability insurance ...
On November 30, 2006, the Human Rights Tribunal of Quebec released a judgment in which it concluded that a grievance arbitrator did not have jurisdiction over litigation stemming from allegations of employment discrimination. In the case of Commission des droits de la personne et des droits de la jeunesse v ...
The BC Privacy Commissioner recently issued two decisions which address “employee personal information”, as well as some other issues of interest under the BC Personal Information Protection Act (“PIPA”) ...
Part III of the Canada Labour Code sets out the employment standards minimums for federally regulated employers. It was enacted in 1965 and had not been systematically reviewed since then. In December 2004, the federal government appointed Professor Harry Arthurs, a former Dean of Osgoode Hall Law School, to conduct a comprehensive review of Part III. Professor Arthurs issued his final report (324 pgs) on October 30, 2006 ...
The CAT has confirmed, with the Court of Appeal's blessing, that it will not only srcutinise a regulator's decision but that it will also, in certain cases, substitute the regulator's decision with that of its own without remitting the case back to the regulator for a second bite at the cherry.The CAT's approach offers possibilities for both a complainant and for those companies subject to regulatory investigation ...
Do you offer your employees group insurance? If so, since January 1, 2007, under the Act respecting prescription drug insurance, you must deduct directly from the remuneration paid to each of your employees his or her portion of the premium applicable to the basic prescription drug insurance coverage stipulated in the group insurance contract.The Act respecting prescription drug insurance (R.S.Q., c. A-29 ...
The December 2006 SFC Enforcement Reporter provides a timely reminder that carrying out regulated activities without a licence is a highly risky endeavour in Hong Kong. This caps off a year where there were a number of significant enforcement actions for unlicensed dealing activities ...
In recent years, we have seen a surge in co-productions in Asia, whether in the form of co-productions between parties from different parts of Asia (which would normally involve both financial and production contribution from all parties), or co-productions between Western and Chinese parties ...
When the company was purchased, you will have entered into a Share Purchase Agreement. If you think that there might be potential for a warranty claim, you need to revisit the agreement to establish the basis of your claim and the manner in which it requires to be processed. The warranties in your agreement amount to assurances from the seller with regards to the condition of the business and outstanding liabilities at the time the deal was completed ...
In M&A transactions, the principal terms negotiated by the parties are usually the structure, price, representations, warranties and undertakings and indemnities. Whereas in most jurisdictions parties are at liberty to agree on these terms, in China the outcome of the negotiations between Chinese and foreign parties may not be as final as hoped for ...
Legislation and jurisdiction1. What is the relevant legislation and who enforces it?Competition is regulated under Competition Law no. 21/1996, as subsequently amended andsupplemented (the Competition Law), and under Competition Council regulations andguidelines. The Romanian competition legislation generally follows the provisions of EuropeanCommunity legislation ...
Section 316 of the Act respecting industrial accidents and occupational diseases(1) (the “AIAOD”) makes an employer responsible to the CSST for a contractor’s (or subcontractor’s) unpaid assessments in respect of such contractor’s (or subcontractor’s) employees:“316. The Commission may demand payment of the assessment due by a contractor from the employer who retains his services ...
Foreign companies have always complained about the requirements and criteria associated with tendering for domestic infrastructure projects. The conservative attitude and lack of commercial awareness of bureaucrats and discriminatory qualification requirements have all contributed to warding off reputable international companies. Comments made by both the American and the European Chambers of Commerce in recent years have by and large recommended that international tendering be encouraged ...
Comprehensive regulation of antitrust and unfair competition activities was established in Taiwan when the Fair Trade Act came into effect in 1992 (as amended, the ¡§Fair Trade Act¡¨). The regulatory framework is similar to civil law systems such as those used in Germany and Japan. Over the past 12 years, the Fair Trade Act has been amended three times, the most recent amendments being made after Taiwan¡¦s accession to the World Trade Organization in 2002 and taking effect in 2003 ...
The Ministry of Commerce (“MOFCOM”), the State-owned Assets Supervision and Administration Commission of the State Council, the State Administration of Taxation, the State Administration for Industry and Commerce, the China Securities Regulatory Commission (“CSRC”) and the State Administration of Foreign Exchange jointly issued the Regulations Regarding the Acquisition of Domestic Enterprises by Foreign Investors on 8 August 2006 ...
The Central Government of the People’s Republic of China (“Mainland”) and the Government of the Hong Kong Special Administrative Region (“Hong Kong”) jointly issued the Arrangement between the Mainland and Hong Kong for the Avoidance of Double Taxation on Income and the Prevention of Fiscal Evasion on 21 August 2006 ...
