Since 15 March 2020, Poland has had aban on civil aircraft landing on international passenger flights. Since 16 March, domestic passenger flights have also been banned, except for flights in the public or state interest. Dopassengers whose flights have been cancelled as aresult of this ban have the right to compensation from the air carriers that were to operate those flights? Right to compensation for cancelled flights Under Art ...
Carey partner, Diego Peralta, and associate, Vesna Camelio, contributed to the Q&A section of the Chilean chapter in the first edition of the “Foreign Direct Investment Regimes: A practical cross-border insight into FDI screening regimes”. To read the full article, click here: https://www.carey.cl/download/filebase/noticias/_notes/Chilean-chapter-ICLG-Foreign-Direct-Investment-Regimes ...
On 12 August 2020 a tragedy occurred on Scotland’s railways. A passenger train, already turned around due to blockages on the line, derailed. Three people tragically lost their lives. After months of investigation the Rail Accident Investigation Board (“RAIB”) has released its formal report into the incident. The report details a number of failings, which led to the tragedy ...
Contents Please click on the links below to jump to the relevant section: Cayman fund vehicles Cayman fund regulation Mutual Funds Act Private Funds Act Additional regulatory obligations Penalties Cayman fund vehicles The Cayman Islands has the following range of vehicles that are typically used as investment funds: Exempted company Segregated portfolio company Limited liability company Exempted limited partnership Unit trust Exempted companies and segregated portfol
The Central Bank of Brazil initiated a public hearing on 6 February to facilitate foreign investment. The Internet-delivered hearing will end on 7 April. The idea is to include under a single normative act the scattered provisions relating to fixed and variable income investment, as well as to portfolio investment. The measure is one of initiatives taken by the Central Bank within its Otimiza-BC program of cost reduction ...
On October 16, 2023, the Council of the Central Bank of Chile ("CBCh") published in consultation a proposal to systematize and update the exchange information requested to entities that are part of the Formal Exchange Market (the "Project"), in compliance with the regulation of the Foreign Exchange Regulations Compendium ("FERC"), together with a reformulation and restructuring of this regulatory body ...
The Amendments to the Agreement on Trade in Services of the Mainland and Hong Kong Closer Economic Partnership Arrangement (Amendment) which was signed on 21 November 2019 has come into force on 1 June 2020. Trade in Services is one of the four major areas covered by the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA), under which Hong Kong service suppliers enjoy preferential treatment when entering certain service sectors in the Mainland ...
Summary On January 13, 2020, the Committee on Foreign Investment in the United States (CFIUS) issued final regulations to implement the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA)1 (the “Regulations”2). The Regulations go into effect on February 13, 2020. CFIUS’s existing regulations (the “Pilot Program”) will continue to apply to transactions that close prior to February 13, 2020 ...
The Industrial Court is a creature of statute. In determining a particular dispute, the Industrial Court must act in accordance with the purposes and express provisions of the Industrial Relations Act 1967 (“Act”). The Court must also act according to “equity, good conscience and the substantial merits of the case without regard to technicalities and legal form” [1] ...
Dear valued clients, colleagues and friends, Our Dispute Resolution partners, Dhinesh Bhaskaran, Datin Jeyanthini Kannaperan, Rabindra S. Nathan and K. Shanti Mogan, have co-authored the Malaysian Law and Practice and Trends and Developments chapters in the Chambers Global Practice Guide: Litigation 2022 ...
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 ...
Effective January 1, 2017, new rules will govern the taxation of mutual fund corporations structured as ?switch funds?. Investors switching between funds will no longer be able to do so without incurring taxable capital gains. This article summarizes the impact of such changes. Description of "switch funds" under the current regime In Canada, most mutual funds are structured as trusts and some are structured as corporations (referred to as ?corporate class funds?) ...
It starts with the best of intentions: A startup medical device company has just sold to a larger enterprise with an established sales team and customer base and no longer needs distributors. A consumer packaged goods company has just bought a brand and needs to transition to a new team of brokers. A growing company is finally ready to take its supply chain captive, including the distribution of products to customers, and no longer needs small distributors or sales representatives ...
Does the recent High Court decision in Butler-Sloss and Others -v- The Charity Commission and the Attorney General change the law on how charity trustees should approach investing their funds? The short answer is “no”. The decision is a reinterpretation of the 30-year-old decision in the Bishop of Oxford case for our modern world and a reinstatement of the fundamental duty of charity trustees to act in the best interests of their charities’ purposes ...
On December 31, 2021, The Chilean Ministry of Public Works published one of the last calls for bids before closing 2021, corresponding to the modernization and improvement of the current Route 68. The 140.7 km project will connect the municipalities of Santiago, Valparaíso and Viña del Mar and has a budget of approximately US $ 1.2 billion - the highest amount ever in a call for bids under Sebastián Piñera's administration ...
The Chilean Economic Development Agency, Corfo, and the Foreign Investment Promotion Agency, InvestChile, have announced the opening of the first call for national and foreign companies, to express their interest in manufacturing lithium products, such as battery cathodes and electrolytes. Companies that are selected will be guaranteed 25 per cent of US producer Albemarle’s lithium production at the lowest cost available in the market ...
Regarding the State of Catastrophe and sanitary alert decreed in Chile in the face of the COVID-19 pandemic, on Sunday 22 March 2020, the Chilean Government announced the following 12 measures: Strict quarantine for the extreme-South city of Puerto Williams (except for essential cargo freighting). Strict sanitary customs in the aerial and maritime crossing to the city of Puerto Williams ...
While the world contends with the COVID-19 crisis and its economic and financial impact, China is quietly opening its doors to its financial sector, inviting more foreign financial institutions, banks, insurance providers and other financial service companies to set up shop in China. On March 27, the Chinese government granted approval for both The Goldman Sachs Group Inc ...
WHAT IS CEPA? The Closer Economic Partnership Arrangement (“CEPA”) is a free trade agreement between Mainland China and Hong Kong that offers Hong Kong products, companies and residents preferential access to the Mainland market. Many of the preferences go beyond China’s WTO concessions. CEPA is not a closed agreement and both sides hold regular meetings on further concessions and the details for implementation ...
According to the annual study “Doing Business” released by the World Bank Group in recent years, China’s business environment has improved greatly during 2018 to 2020, with its global ranking moved up from 78th to 31st. In terms of investment policies, the Chinese government mainly uses the Catalogue of Encouraged Industries for Foreign Investment to facilitate and guide foreign investment in specific industries, fields, and regions in China ...
On 23 June 2020, the Chinese government announced the Special Administrative Measures (Negative List) for Foreign Investment Access (2020 Edition) (2020 National Negative List) and the Special Administrative Measures (Negative List) for Foreign Investment Access in Pilot Free Trade Zones (2020 Edition) (2020 FTZ Negative List). The 2020 National Negative List and the 2020 FTZ Negative List (2020 Negative Lists) will come into force on 23 July 2020 ...
A focus for Chinese trademark law and practice in recent years has been strengthening the fight against malicious trademarks ...
On 26 October 2018, the Standing Committee of the National People's Congress approved a decision to revise the Company Law of the People’s Republic of China (Revision), with the aim of supplementing and improving the existing share repurchase regime. We have set out a brief introduction to this Revision below. Background It has only been five years since the last revision to the Company Law of the People’s Republic of China (Company Law) ...
