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Regional Comprehensive Economic Partnership Signed
DFDL, November 2020

On 15 November 2020, leaders of the ASEAN Member States, Australia, China, Japan, Republic of Korea and New Zealand witnessed the signing of the Regional Comprehensive Economic Partnership (“RCEP“) Agreement. The RCEP Agreement marks ASEAN’s biggest free trade pact to date, covering a market of 2.2 billion people with a combined size of US$26.2 trillion...

FMA Consultation on Advertising Financial Products
MinterEllisonRuddWatts, November 2020

Today the Financial Markets Authority (FMA) published a consultation paper seeking feedback in relation to its proposed guidance about advertisements for financial products under the Financial Markets Conduct Act 2013 (FMCA). The draft guidance is available online. The consultation paper and the consultation page containing details on how to make a submission can each be found on the FMA’s website...

The Proposed Indian Copyright Amendment Rules and Suggestions for Further Amendment
Kochhar & Co. Advocates & Legal Consultants, November 2020

The Copyright Office of the Department for Promotion of Industry and Internal Trade (DPIIT) has invited comments and suggestions to amend the Copyright Act before November 30, 2020. Mid last year, the DPIIT proposed a set of amendments to the Indian Copyright Rules. While these amendments sought to increase transparency and provide clarity for right holders, many other essential modifications were overlooked...

Lessons for Technology from COVID-19: M&A Transactions for Digital Assets
MinterEllisonRuddWatts, November 2020

Disruptive events tend to accelerate existing trends, and COVID-19 is no exception. Technology is transforming the way businesses operate, the products and services they offer and is reshaping the global M&A landscape – and the speed of adoption is significant...

Defence: Key Changes in the Regulatory Landscape Pursuant to Atmanirbhar Bharat
Kochhar & Co. Advocates & Legal Consultants, November 2020

The Government of India has been very active in putting in place the necessary framework to implement the objectives of the ‘Atmanirbhar Bharat Abhiyan’. The ‘Atmanirbhar Bharat Abhiyan’ or a program of self-reliance announced by the Government of India intends to focus on the five key pillars of economy, infrastructure, system, vibrant demography, and demand...

The Proposed Indian Copyright Amendment Rules and Suggestions for Further Amendment
Kochhar & Co. Advocates & Legal Consultants, November 2020

The Copyright Office of the Department for Promotion of Industry and Internal Trade (DPIIT) has invited comments and suggestions to amend the Copyright Act before November 30, 2020. Mid last year, the DPIIT proposed a set of amendments to the Indian Copyright Rules. While these amendments sought to increase transparency and provide clarity for right holders, many other essential modifications were overlooked...

Settlement in Climate-Related Financial Disclosure Case
MinterEllisonRuddWatts, November 2020

The recent settlement in the Australian case: McVeigh v Retail Employees Superannuation Trust (REST) will be highly relevant to all New Zealand fund managers considering the impact of climate change on their investors. McVeigh v REST is the first case to consider whether a trustee of a superannuation fund had the duty to consider and disclose climate change risks...

Know Your Contract: Case Law Highlights
MinterEllisonRuddWatts, November 2020

New Zealand’s construction industry and projects have weathered a turbulent year with a consistent flow of seminal judicial decisions addressing issues arising in the life cycle of a project...

Contracting in a COVID-19 World
MinterEllisonRuddWatts, November 2020

We may be tired of talking about COVID-19, but contractual and project risk associated with the pandemic is still very real. Risk associated with COVID-19 should remain a key consideration in project planning, tendering and negotiation activities, and in the delivery and administration of construction and infrastructure projects. To assist, we examine key themes and observations that are relevant to contracting in a COVID-19 world...

New Zealand’s Infrastructure Sector: Key to Rebuilding the Country’s Economy?
MinterEllisonRuddWatts, November 2020

The COVID-19 pandemic has had wide-ranging impacts on New Zealand’s economy, and the construction and infrastructure sectors have not been immune to these challenges. Infrastructure expenditure has long been seen as an effective tool to reinvigorate an economy and generate growth, and New Zealand’s Infrastructure sector is a key beneficiary of the Government’s economic stimulus package post COVID-19...

Indian Project Office of Foreign Company Not Engaged In Core Business Activities Not a Permanent Establishment (PE): Supreme Court
Kochhar & Co. Advocates & Legal Consultants, November 2020

Strap: In a recent case of Samsung Heavy Industries, the Indian Supreme Court held that the Project Office of the company cannot be termed as PE under the provisions of India-Korea Tax Treaty as it is solely carrying out activities of an auxiliary nature...

A Breach of Lease May Not Mean the End of a Lease
MinterEllisonRuddWatts, November 2020

A recent High Court decision is a good reminder to both landlords and tenants of the Court’s power to stop a landlord ending a lease even where the tenant’s breach is serious and deliberate. Landlords need to act with considerable care in exercising their rights to end a lease due to a tenant breach if the breach causes no harm to the landlord but the ending of the lease would have material financial consequences for the tenant...

New Standard Conditions for Full Financial Advice Provider Licences Released
MinterEllisonRuddWatts, November 2020

On 6 November 2020, the Financial Markets Authority (FMA) released the final standard conditions for full financial advice provider (FAP) licences and the classes of financial advice service. A link to the standard conditions and licence classes are available online. These conditions follow the FMA’s consultation in June this year. See our previous discussion on the standard conditions and licence classes...

Offshore Data Transfers Under the New Privacy Act 2020
MinterEllisonRuddWatts, November 2020

One of the key changes to New Zealand’s data protection regime under the Privacy Act 2020 is the introduction of a new information privacy principle 12 (IPP 12), requiring certain controls be put in place before disclosing personal information to foreign entities. The concept itself is not new, and largely follows the approach taken in the EU, Australia and other jurisdictions...

Consultation on KiwiSaver Fees
MinterEllisonRuddWatts, November 2020

Today the FMA has published a consultation on proposed guidance on KiwiSaver fees and value for money. The consultation is aimed at providing guidance on the statutory requirement that KiwiSaver fees must not be unreasonable and the related overarching statutory duties. Submissions close on Monday 14 December. Both the consultation document and the media release are available online...

'Green Marketing': New Commerce Commission Guidelines
MinterEllisonRuddWatts, November 2020

Consumers are increasingly considering the environment when making purchasing decisions withmany prepared to pay a premium. It is no wonder that environmental claims are a priority focusarea of the Commerce Commission. Since 1 July 2017, the Commerce Commission has received 94 complaints about environmentalclaims that relate to the Fair Trading Act 1986 (FTA) mostly alleging that claims could not besubstantiated and/or that the performance characteristics are false or misleading...

Top tips on comparative advertising
MinterEllisonRuddWatts, November 2020

Comparative advertising is a risky method of advertising. But if care is taken to address those risks, comparative advertising can be an incredibly effective tool for your business. It also has an important part to play in regulating competition and educating consumers. Comparative advertising compares a product produced or service provided by the advertiser to an equivalent product or service produced or provided by a competitor (or competitors)...

Environmental Claim ‘Flushable' Not False or Misleading
MinterEllisonRuddWatts, November 2020

The Full Australian Federal Court recently upheld the decision that Kimberly-Clark’s Kleenex Cottonelle Flushable Cleansing Cloths (Kleenex Wipes) did not make false or misleading claims in using the word ‘flushable'. The guidance on the evidence required and weight given to complaints is instructive for New Zealand entities making environmental claims...

How to Avoid False or Misleading Pricing Representations
MinterEllisonRuddWatts, November 2020

Pricing representations receive ongoing scrutiny from the Commerce Commission. The Commission frequently brings enforcement action in this area and in recent years the Commission has signalled that it receives a significant number of complaints from consumers who have been misled by or are concerned about pricing practices...

Is Your Business Fit to Lead in the New World Economy?
MinterEllisonRuddWatts, November 2020

There can be few tougher tests of leadership than the ones that 2020 has thrown at company directors and leaders. The days of worrying about disruption driven by technology seem like a dream in comparison with the urgency, pace, breadth and scale of the challenges that have pounded companies and sectors up and down New Zealand – and around the world...

Shearn Delamore & Co. Legal Update October 2020 (Financial Services)
Shearn Delamore & Co., November 2020

SC and Bursa extend temporary margin financing flexibilitiesOn 28 September 2020, the Securities Commission Malaysia (“SC”) and Bursa Malaysia Berhad (“Bursa”) extended the temporary relief measures relating to margin financing to 31 December 2020. The relief measures, which took effect on 27 March 2020 via Participating Organisations’ Circular No. R/R 6 of 2020, were initially due to expire on 30 September 2020...

Shearn Delamore & Co. Legal Update October 2020 (Tax and Revenue)
Shearn Delamore & Co., November 2020

Income tax The Income Tax (Prescribed Fees under Schedule 5 to the Act) Rules 2020 have been gazetted on 22 September 2020 and have come into operation on 25 September 2020. The following public rulings and guidelines have recently been published on the Inland Revenue Board of Malaysia’s official website:i. Appeal Against an Assessment and Application for Relief (Public Ruling No. 7/2020) issued on 7 October 2020 to replace Public Ruling No. 12/2017 dated 29 December 2017;ii...

Cambodia: Additional Measures to Support Private Sector Workers & Revive the Post-COVID-19 Economy
DFDL, November 2020

On 30 September 2020, the Royal Government of Cambodia (“RGC”) issued a press release and rolled out ‘Round 6’ of measures aimed at mitigating the impacts of COVID-19 on businesses and workers in Cambodia. These represent a combination of new and existing measures (that have been extended)...

Tax Updates October 2020: SyCipLaw Tax Issues and Practical Solutions (T.I.P.S.) Vol. 4
SyCip Salazar Hernandez & Gatmaitan, November 2020

The SyCipLaw T.I.P.S. for October cover the following tax issues: 1. When the taxpayer cannot be located, what are the options available to a Revenue Officer in serving an electronic Letter of Authority?  2. Is the sale, barter, exchange or other disposition through Initial Public Offering of shares of stock in closely held corporations subject to tax? 3...

A Cure for Covid-19 and a Vaccine for Creditors?
TSMP Law Corporation, November 2020

Balance has been tipping over from creditors to shareholders and the pandemic is only bringing this deepening fault line to the fore. Covid-19 slammed into the global consciousness this March and, as expected, immediately torpedoed the markets. But despite the worsening economic data hogging news headlines, exacerbated by intensifying US-China tensions, the markets have paradoxically strengthened since...

 

 

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