Contractual bids for public companies made on or after 5 July 2021 will be subject to new Takeover Code (the "Code") rules. Changes made to: standardise rules for all regulatory authorisations and clearances; simplify the contractual bid timetable; clarify circumstances in which conditions may be invoked to lapse a bid, represent the most significant changes to the Code since 2011 ...
Acting as a director of a company or incorporated body (whether incorporated in or under the laws of the Bailiwick of Guernsey or elsewhere) by way of business[1] is a regulated activity under The Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2020 as amended (the "Fiduciaries Law") ...
In light of COVID-19 we review the steps a company’s board of directors may now take to adapt the process for approving year end accounts. Preparing and filing accounts are amongst the operational challenges facing companies as a result of the COVID-19 pandemic. Practical difficulties include physically preparing the accounts and conduct of the audit, as well as the accounts approval process and subsequent sign-off by directors ...
The government is consulting on much anticipated draft regulations fleshing out the details of the new notifiable event requirements introduced by the Pension Schemes Act 2021 ...
The Labour Market Opinion (LMO) program of Service Canada has recently changed: extension applications for LMOs are no longer permitted. Instead, each request to continue to employ a foreign worker will be treated as a new LMO request and will need to be supported by evidence of updated recruitment activity ...
Background The Malta Financial Services Authority has recently introduced changes to the investment services rulebooks for Undertakings for Collective Investment in Transferable Securities (UCITS) management companies (ManCos) and Alternative Investment Fund Managers (AIFMs) to: (i) transpose the Commission Delegated Directive (EU) 2021/1270 amending Directive 2010/43/EU (1) as regards the sustainability risks and sustainability factors to be taken into account fo
Background The Malta Financial Services Authority has informed investment firms of the amendments carried out to Part BI of the investment services rules for Investment Services Providers. These amendments seek to implement the provisions of the Commission Delegated Regulation (EU) 2021/1253 ...
Law 9/2022 was published in Diário da República, the Portuguese official gazette, on 11 January 2022. This new law establishes measures to support and speed up corporate restructuring processes and payment agreements. It is the result of the incorporation into Portuguese law of Directive (EU) 2019/1023 of the European Parliament and of the Council of 20 June 2019 (“Directive (EU) 2019/1023”) ...
The Rating (Coronavirus) and Directors Disqualification (Dissolved Companies) Act 2021 received Royal Assent on 15 December 2021. The Act implements changes to the Company Directors Disqualification Act 1986 (the CDDA). Importantly, it will allow the Insolvency Service to investigate the conduct of directors of dissolved companies. What is the current position? The CDDA allows the Insolvency Service to investigate the conduct of directors of insolvent companies ...
Changes to the Chilean Labor Code require employers to adopt measures that facilitate the inclusion of disabled employees Law No.21,275 was added to the Labor Code and published in the Official Gazette on October 21, 2020. The new law is intended to facilitate the inclusion of disabled employees in the labor force. Companies to which the law applies The Law is applicable to those companies that, in accordance with article 157 bis of the Labor Code, have 100 or more employees ...
This initiative is a significant departure from the current position where an application for the appointment of a 'light touch' provisional liquidator, for the purpose of restructuring, must be made as part of the winding up process. Under the changes, a restructuring officer can be appointed by a company acting by its directors without a resolution of its members or an express power in its articles of association ...
On 1st November 2013, an amendment of the Immigration Regulations is to come into force which mainly impacts on the cost of working and residing in the TCI. It is important for individuals as well as businesses to be aware of the changes which will be brought in by virtue of the Immigration (Amendment No. 2) Regulation 2013. The changes include:Applications for the renewal of work permits to be filed at least 30 days before the expiration of the permit ...
Changes to Stamp Duty, LTT & EPTT in Jersey Increase to the first-time buyer threshold The Law provides a welcome amendment to first time buyer stamp duty rates (and equivalent land taxes such as land transactions tax (LTT) in respect of share transfer properties and enveloped property transactions tax (EPTT)), with the maximum purchase price threshold for first-time buyers increasing from £500,000 to £700,000 ...
Following on from the Migration Advisory Committee's annual report, the government have announced welcome changes to the Health and Care visa route. The Migration Advisory Committee (MAC) published their annual report in December. The report considered a variety of subjects and took a detailed look at the health and care sector ...
In recent months, a number of changes to the Russian tax legislation, implying long-term effects for both Russian taxpayers and foreign investors, are taking place. Amendments to the Double Tax Treaties ('DTTs') are among of the most important ones. Below, we provide our consolidated analysis of the forthcoming changes and recommendations on steps to prepare for them ...
On December 19th, 2018, the Ministry of Labor published Ordinance No. 1,085/2018, for the purpose of amending Regulation No. 22 ("NR-22"), which regulates aspects related to the mining sector occupational safety and health. The reformed NR-22 therefore brings changes to the sections regarding the Disposal of Tailings, Wastes and Products and the Emergency Response Plan, within the framework of the National Policy on Dams Safety ("PNSB") ...
The Home Office have released a Statement of Changes which includes changes to be made to the rules for visitors coming to the UK, particularly in relation to their permitted activities. On 7 December 2023, the Home Office released Statement of Changes HC 246 with various changes to the Immigration Rules to be implemented prior to the end of January 2024 ...
From 6 April 2022, the way right to work checks are conducted is changing. Virtual or “adjusted” right to work checks will no longer be acceptable Virtual checks were only ever intended as a temporary concession because of the pandemic. While they have been repeatedly extended throughout the pandemic, the Home Office is adamant that they will end once and for all, with 5 April 2022 being the final date on which they can be validly conducted ...
In recent times, the issue of post-retirement healthcare benefits has taken on new significance for employers and sponsors of pension and health and welfare plans. Factors such as increasing numbers of retirees, rising drug and healthcare costs and government cutbacks to universal healthcare programs are causing organizations to re-evaluate the extent to which they can or are willing to continue to provide post-retirement healthcare benefits ...
On June 16, 2020, Governor Mike DeWine signed into law House Bill 81. Its impact is significant for employers in the context of workers’ compensation. Governor DeWine touted the amendment that provided workers’ compensation coverage for medical diagnostic services to investigate whether a detention facility employee’s exposure to another’s blood or bodily fluids resulted in an injury or occupational disease ...
Key Points New IRS rules extend annual deadline for providing Forms 1095-C to employees to March 2 Penalty relief no longer applies for employers that make good faith efforts to comply with reporting requirements California employers with self-insured plans must file Forms 1095-C with the Franchise Tax Board by March 31 Under the Affordable Care Act (“ACA”), large employers (generally those with 50 or more full-time employees or full-time equivalents) must report annually t
Changes to the UAE Penal Code (Federal Law No. 3 of 1987) (the “Penal Code”) at the end of 2016 have (i) extended the current bribery provisions to include bribery involving a foreign public official or an official of an international organisation, (ii) increased the penalties for committing a bribery-related offence and (iii) criminalised the offering of a bribe in the private sector ...
Effective 1 January 2020, new rules pertaining to whistleblowing will enter into force.On 11 June 2019, the Norwegian Parliament passed a resolution that all provisions of the Working Environment Act Chapter 2 A shall be amended. The changes in the law mainly contribute to clarification and precise formulation of judicial status so as to make the provisions more accessible and understandable to the users of the law ...
On September 1st. 2022, amendments to the Federal Law 'On Advertising' of 13.03.2006 N 38-FZ (the 'Advertising Law') came into force. Now, advertisements on the Internet are subject to mandatory labeling and registration, which significantly complicates such advertising on the Internet, in Russia ('online advertisement'). In this regard, we present you an overview of the key changes, that companies need to take into account, when distributing online advertisements. Download the overview ...
Important changes in, inter alia, the Rights of Priority Act (Sw. förmånsrättslagen) entered into effect on 1 January 2009. For example, it becomes possible to use personal property of the business as collateral security for loans in businesses. Elisabeth Söderholm, associate at Delphi Lawfirm, Gothenburg, reports on the new rules ...
