On August 19, 2019, the chairman of the National Credit Union Association issued a letter with guidance to all credit unions. Prior to August 19, hemp businesses had difficulty locating banks or other entities that would permit them to conduct normal merchant banking activities. That issue has, in part, been addressed by this letter of guidance. Questions remain, however, regarding many merchant services and whether FinCEN will issue a similar guidance ...
In order to comply with the international guidelines regarding corporate transparency, the government of Panama enacted Law 52 of October 27, 2016 in the Official Gazette. This Law establishes the obligation for Panamanian companies and other entities to maintain accounting records, financial records and supporting documentation of all transactions that took place during the last five (5) years, so that their financial status can be easily determined with reasonable accuracy ...
The Bureau of Cannabis Control recently published two new fact sheets on its website as a resource for industry stakeholders, licensees, and the general public. The facts sheet help everyone better understand the different responsibilities of the cannabis distributor (Type 11) and the cannabis distributor transport only (Type 13) licensee by providing a list of required procedures and guidelines for various distribution activities ...
The Singapore Convention cements the Lion City’s reputation as a dispute resolution hub, making mediation easier to enforce globally. Clients who come to see me about commercial disputes often ask for the same thing: fast resolution. I tell them that there are two tried-and-tested ways to resolve financial claims. First, you can litigate in court and have a judge make a legal ruling on the dispute, in the full gaze of the public ...
The past year has been a busy one for AML compliance in the UAE. In October 2018, Federal Decree-Law 20 of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organizations (AML Law) came into force. It contained features recommended by the Financial Action Task Force (FATF), and brought UAE laws in line with international AML standards ...
In May 2019, the South African Proposed Regulations Pertaining to the Financial Provision for the Rehabilitation and Remediation of Environmental Damage caused by Reconnaissance, Prospecting, Exploration, Mining or Production Operations, 2019 (the “2019 Regulations”) were released for public comment ...
The Association Des Hoteliers et Restaurateurs Ile Maurice (“AHRIM”), an association of hotels and restaurants in Mauritius, and the Sea Users Association, an association of civilians, recently won an important appeal. The appeal was against the grant of an Environmental Impact Assessment (“EIA”) licence to a fish farming project by the Minister of Social Security, National Solidarity, and Environment and Sustainable Development ...
It is standard practice that for a share transfer in a private limited liability company to be effective, the transferor and transferee must execute a share transfer form, pay stamp duty on it and present it to the company for registration, together with the related share certificate, if any. The Ugandan Companies Act, 2012 prohibits the transfer of shares unless a proper instrument of transfer has been delivered to the company ...
South African President Cyril Ramaphosa has signed into law the Carbon Tax Act, 2019, which comes into effect on 1 June 2019. With the passing of the carbon tax into law, a price on carbon emissions is now a reality for the South African economy.The impact of the legislation, along with complementary measures such as the national greenhouse gas emission reporting regulations, will have a transformative effect on the South African economy ...
On 20 May 2019, Rwanda was admitted as a member of the Organization for Economic Co-operation and Development (“OECD”) Development Centre, becoming the first East African country to join the Development Centre. Founded in 1961, the OECD Development Centre is an independent platform that enables developed economies to interact, share knowledge and have policy dialogues with developing economies ...
We recently reported on a ruling of the new advertising authority in South Africa, the Advertising Regulatory Board (“ARB”). The dealt with the issue of misleading advertising. In this article, we’ll look at three more rulings that make it clear that the ARB deals with a range of important issues ...
South Africa recently held its general national election and the result was a win for the incumbent African National Congress (ANC) party. The election was fought against a backdrop of massive unemployment and a stagnant economy. During the course of the election, there was considerable focus on the issue of property rights and particularly, the possible expropriation of immovable property, especially farms ...
An article that appeared in the South AfricanDaily Mavericknews site, “Plain packaging for cigarettes is a bad idea”,suggests that the plain packaging debate is not yet over. A recap We’ve discussed plain packaging for cigarettes on a number of occasions. We’ve looked at how Australia has been at the forefront of this issue, with 2011 legislation requiring all brands of cigarettes to be sold in identical green packs featuring graphic images ...
A recent decision of the Mauritian Industrial Property Tribunal (the “Tribunal”) will provide some comfort to international brand owners. The case involved an application by a foreign company to cancel a trade mark registration obtained by a local party. The facts inStrategic Foods International Company LLC v Meher Banon Gokhoolwere all too familiar ...
On 31 May 2019, South Africa’s Department of Trade and Industry gazetted certain amendments to the Broad-Based Black Economic Empowerment (“B-BBEE”) Codes of Good Practice. These amendments will become effective on 31 November 2019. The following are the key amendments to take note of ...
With South Africa’s recent cabinet reshuffle, the Department of Water Affairs and Sanitation was amalgamated with the Department of Human Settlements. This indicates the growing intersection between natural resources and people/communities, and in turn, the potential for policy to stop seeing natural resources and people in separate silos ...
Use: it’s without question one of the biggest issues in trade mark law. It’s an issue that can come up in a number of scenarios. At least a genuine intention is needed to use a trade mark to get it registered. Considerable use may help get a trade mark registered in the face of various objections. Once registered, the trade mark needs to be used to make sure that the registration can’t be cancelled for non-use by a competitor ...
The Little Master himself, Sachin Tendulkar, is heading to court in Australia against sporting goods manufacturer Spartan. For some context: Tendulkar retired from international cricket shortly after winning the 2011 World Cup. Even in retirement, Tendulkar remains by some distance, the most revered cricketer to ever play the game and the famous Matthew Hayden quote “I have seen God. He bats at no ...
Back in 2013, we wrote an article about the Madrid Protocol, the treaty that regulates the international trade mark registration system. We expressed the view that it was high time that South Africa joined this ever-growing club of nations. We expressed the hope that it would happen soon. It’s now mid- 2019 and... well we’re still waiting. We’re told that accession to the Madrid Protocol is imminent. The Madrid Protocol has been in the news of late ...
The Porsche 911 is undoubtedly an iconic car. Instant product recognition is, of course, something that most companies strive for. But fame and familiarity can create their own problems when it comes to issues of intellectual property. Porsche recently suffered a setback when the EU General Court upheld a decision of the European Union Intellectual Property Office to cancel certain design registrations relating to the appearance of the Porsche 911 ...
A story that was widely reported on in the United Kingdom (“UK”) gives us an interesting insight into the world of copyright. A long time ago – some 22 years to be precise – a songwriter by the name of Richard Ashcroft assigned (transferred) the copyright in a hugely successful song calledBitter Sweet Symphonyperformed by a band called The Verve. If no bells are ringing, I suggest that you Google the song, chances are you will recognise it immediately ...
In a country with a significant number of mature fields and few discoveries made and/or developed in the last years, the Romanian National Authority for Mineral Resources has recently launched a public call for tender for the concession of 28 exploration, development and exploitation petroleum blocks, both onshore and offshore (Licensing Round XI/2019) ...
Electricity was first generated in Nigeria in 1866 when two generating sets were installed to serve the Colony of Lagos. In 1951, the government of Nigeria, through an Act of Parliament, established the Electricity Commission of Nigeria (ECN) to regulate and operate the power supply systems in Nigeria. Subsequently, the Niger Dam Authority (NDA) was established for the development of the Kanji Hydroelectric Dam ...
