The two financial centres have long been considered twins, but where do the similarities end and the differences begin? Hong Kong, now entering its 15th week of protests, has been filled with increasingly incendiary rhetoric and escalating violence. This past weekend saw protesters lighting fires at an MTR station entrance, just outside the uber-luxe Bulgari boutique in Central ...
MCA UPDATE – JULY 2019 What When Summary 1. Notification of Ministry of Corporate Affairs (“MCA”) with regards to filing / verification of KYC details of the directors 25.07.2019 The Ministry of Corporate Affairs (“MCA”) has notified the Companies (Appointment and Qualification of Directors) Third Amendment Rules, 2019 ...
What When Summary 1. Online reporting for filing of Annual Return on Foreign Liabilities and Assets (FLA Return) by Indian Companies 28.06 ...
A rose, said Shakespeare, by any other name would smell as sweet. But while the Bard may know his flowers, he clearly was no expert on branding Apples. Rodrigo Duterte, the Filipino president, would like to change his country’s moniker “because the Philippines is named after King Phillip”. He appears to be eager to distance his nation from its colonial past, the said monarch being a 16th century ruler of Spain ...
As of August 7th, 2018, the amendments of the Consumer Protection Law (CPL), which includes for the first time, the consumer protection in the field of electronic commerce (e-commerce), taking that as the contracting process or the goods, services and commercial information trading through data communication webs ...
In Union of Medical Marijuana Patients v. City of San Diego, the California Supreme Court unanimously held that the City of San Diego failed to analyze the potential environmental impacts of its medical marijuana dispensary law. While the main issue in this case was the definition of a project under the California Environmental Quality Act (CEQA), the ruling has important ramifications for the legal cannabis market as a whole ...
The U.S.-China trade dispute escalated yet again as the Office of the U.S. Trade Representative (USTR) announced a fourth round of tariffs of 10 percent on an estimated $300 billion of goods imported from China not already subject to Section 301 tariffs. At the same time, the USTR continues to accept List 3 exclusion requests and is working to complete review of List 1 and List 2 exclusion requests. 1. USTR Announces Section 301 Tariffs on $300B of U.S ...
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 ...
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 ...
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 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 ...
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 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 ...
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 ...
