Within the European Union the issue of taking evidence in another member state has been regulated uniformly by the Council regulation (EC) No 1206/2001 of 28 May 2001 on cooperation between the courts of the Member States in the taking of evidence in civil or commercial matters. However some general rules relating to the procedure of taking evidence abroad were developed and established long before the adoption of the regulation ...
Section 15(a)(1) of the Securities Exchange Act of 1934 (the “Exchange Act”) provides that “it shall be unlawful for any broker or dealer which is . . . a person other than a natural person . . . to make use of the mails or any means or instrumentality of interstate commerce to effect any transactions in, or to induce or attempt to induce the purchase or sale of, any security… unless such broker or dealer is registered [with the SEC] ...
In November 2005, Energy Minister Malcolm Wicks was asked by the Prime Minister and Trade and Industry Secretary Alan Johnson to lead a Review of the Government's energy policy ...
Canada’s Clean Air ActWhat it is notThe new federal strategy respecting greenhouse gas reduction was finally unveiled on October 19, 2006 with the presentation of Bill C-30 on air quality(1) and the release of the brochure entitled Canada’s Clean Air Act(2). A few days later, on October 21st, the Government published its Notice of Intent which outlines the measures that it intends to develop and implement to reduce air emissions 3) ...
For the many players in the oil and gas industry awareness of the regime for decommissioning offshore installations is increasingly important. Decommissioning is fundamental to petroleum operations and needs to be considered early, due to the various complexities involved. Many offshore installations in the North Sea have been operational well beyond their expected 25 year lifespan and are now up for decommissioning, although the recent high oil price granted a temporary postponement ...
The issue of coalbed methane (CBM) ownership, frequently disputed between coal rights holders and holders of mines and minerals rights other than coal, has been the subject of numerous recent applications to the Alberta Energy and Utilities Board (AEUB). The AEUB recently announced that it will hold a hearing relating to legal entitlement of CBM on split-title freehold mineral lands in Alberta ...
Before 1978, China's economic policies were mainly aimed at self-reliance. As a result, the country was virtually shut off from world economic developments. In 1978, China opened its doors to foreign investment with the goal of modernising its economy and raising the living standard of its people. The country has since established the necessary legislative basis for foreign investment and has actively sought to acquire modern foreign management and technical skills ...
This paper was first published by the Rocky Mountain Mineral Law Foundation, Volume XXIII, Number 2, 2006. Chris Baldwin, Canada mining reporter for the Mineral Law Newsletter, is a partner and Megan Kaneen is an articled student with Lawson Lundell LLP In Vancouver, British Columbia; Behn Conroy and Laurel Petryk are associates with Lang Michener in Toronto, Ontario, and Vancouver, British Columbia, respectively ...
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 ...
China has traditionally restricted foreign investment in the retail and wholesale sectors with the aim of nurturing strong domestic players before their foreign counterparts would be allowed into the country. Since becoming a member of the World Trade Organisation, China has gradually opened up its distribution sector to foreign investment ...
The Ministry of Commerce (“MOFCOM”), the China Securities Regulatory Commission, the State Administration of Taxation, the State Administration for Industry and Commerce and the State Administration of Foreign Exchange jointly promulgated the Measures for the Administration of Strategic Investment of Foreign Investors in Listed Companies on 31 December 2005 ...
The Ministry of Commerce (“MOFCOM”) issued the Notice of the Ministry of Commerce on Entrusting Local Authorities with the Examination and Approval of Commercial Enterprises with Foreign Investment on 9 December 2005. The Notice, which became effective on 3 March 2006, is expected to reduce the time required for setting up a commercial enterprise with foreign investment (“commercial FIE”) ...
The Ministry of Commerce (“MOFCOM”) issued the following notices on 20 January 2006: the Notice on Entrusting the Provincial Level Authorities in Charge of Commerce with the Examination and Approval, and Administration of Non-Vessel Carrier Enterprises with Foreign Investment, the Notice on Entrusting the Provincial Level Authorities in Charge of Commerce with the Examination and Approval, and Administration of Road Transportation Enterprises with Foreign Investment, the Notice on Entrusting the
The State Administration for Industry and Commerce, the Ministry of Commerce, the General Administration of Customs and the State Administration of Foreign Exchange jointly issued the Implementing Opinion on Several Issues in the Laws Applicable to the Examination and Approval, Registration and Administration of Foreign Investment Enterprises on 24 April 2006 ...
The State Council issued the Regulations of the People's Republic of China for the Administration of the Registration of Companies on 18 December 2005. The Regulations have replaced 1994 regulations of the same name with effect from 1 January 2006. The revisions to the Regulations bring the rules for company registration in line with the amended Company Law of the People’s Republic of China (“Company Law”) (as discussed in issue 2005.3 of China Legal Update) ...
The Ministry of Commerce (“MOFCOM”) promulgated the Provisional Measures for the Administration of Processing Trade in Export Processing Zones on 22 November 2005. The Measures replace regulations of the same name with effect from 1 January 2006. Definitions The Provisional Measures define an export processing zone (“Zone”) as a specified area subject to closed supervision by the Customs ...
The Ministry of Commerce (“MOFCOM”) promulgated the Measures for the Administration of International Freight Forwarding Enterprises with Foreign Investment on 19 October 2005. The Measures, which entered into force on 11 December 2005, repeal regulations of the same name and their supplementary regulations issued in 2003 ...
The State Administration of Foreign Exchange (SAFE”) issued the Notice on Issues Relating to the Improvement of the Administration of Foreign Debt on 21 October 2005. The Notice entered into effect on 1 December 2005 and governs various aspects of the PRC regime for the control of foreign debt ...
The Supreme People’s Court promulgated the Regulations of the Supreme People's Court on Several Issues in the Hearing of Cases Involving Disputes over Letters of Credit on 14 November 2005. The Regulations entered into effect on 1 January 2006 and provide clearer guidance not only on how PRC courts should deal with cases involving disputes over letters of credit (“LC disputes”) but also on the general operation of letters of credit (“LCs”) in China ...
The General Administration of Customs (“GAC”) issued the Measures of the Customs of the People’s Republic of China on Duty free Shops and Duty Free Goods on 28 November 2005. The Notice, which became effective on 1 January 2006, governs the establishment of duty free shops and the import and sale of duty free goods ...
The Guangdong Provincial Development and Reform Commission (“GDRC”) promulgated the Provisional Measures for the Administration of the Verification of Foreign Investment Projects on 18 February 2006. The Provisional Measures are the local implementing rules for the Provisional Measures for the Administration of the Verification of Foreign Investment Projects promulgated by the State Development and Reform Commission (“SDRC”) on 9 October 2004 (“SDRC Measures”) ...
Lessons in Using Employee Non-Compete Agreements An increasing number of companies are requiring their employees (new and existing) to sign so-called “non-compete” agreements. Many of these agreements prohibit employees from working for their employer’s competitors for a period of time after the termination of employment. Some are less restrictive—prohibiting former employees from performing certain duties or dealing with the former employer’s customers ...
This quarterly newsletter summarizes some of the recent administrative actions that will go into effect this year and which will impact funds and their advisers, beginning with the EDGAR requirements that mutual funds and separate account issuers designate new codes for each series and class when making their EDGAR filings ...
EDGAR Identifiers for Series and Classes Last July, the Securities and Exchange Commission adopted amendments to Regulation S-T to require mutual funds and insurance company separate accounts issuing variable annuity contracts or variable life insurance products to obtain identifiers and electronically identify in their filings made through the Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system to which of their series or classes the filing relates. See Rel. No ...
