California Assembly Bill No. 205 was approved by Gov. Gavin Newsom on July 9, 2019. Assembly Member Tom Daly, who represents California’s 69th district of Orange County cities Santa Ana, Anaheim, and Garden Grove, introduced AB-205 to expand the definition of “beer” under Business & Professions Code §23006, which is part of the Alcohol Beverage Control Act. The new law is set to go into effect on Jan. 1, 2020 ...
Article PDFJust when businesses thought they had figured out their Proposition 65 compliance strategies, the State of California, through the Office of Environmental Health Hazard Assessment (OEHHA), has proposed a substantial change that will drastically limit the use of the short-form safe harbor warning first authorized in 2018 ...
TAXATION TAX ON IMMOVABLE PROPERTY PAYMENT FOR 2016 Notifications No. 12723 dated 5 August 2016 & No. 13466 dated 16 August 2016 Per Notification No. 12723, the General Department of Taxation (“GDT”) informs owners of immovable property (“Property”) which is subject to the Immovable Property Tax (“IPT”) to pay the IPT to the tax authorities by 30 September 2016. Late payment of IPT is subject to penalty ...
INDUSTRIAL RELATIONSPROMULGATION OF THE LAW ON TRADE UNIONS, Royal Kram № NS/RKM/1516/007, dated 17 May 2016The Law on Trade Unions is intended to: (a) provide rights and freedom for enterprises, establishments and persons governed by the provisions of the 1997 Labour Law and persons serving in air and maritime transportation and (b) sets out the organization and functioning of professional organizations of employees and employers ...
In response to the impact of COVID-19 and the partial withdrawal of EBA benefits – see our update here – the Cambodian government have issued a number of regulations which are intended to provide some relief to affected businesses in Cambodia. We outline these updates below: Letter 1313 MEF – dated 25 February 2020 Notification no ...
The Royal Government of Cambodia has issued the Sub-Decree on Requirements and Procedures for Business Combinations dated 6 March 2023 (“Merger Sub-Decree”). The Merger Sub-Decree elaborates on the prohibition on anti-competitive business combinations set out in Article 11 of the Law on Competition. The Merger Sub-Decree was officially implemented on its signature date (of 6 March 2023) and will be enforced within 6 months of that date ...
Cambodia’s long-awaited Competition Law (“Law”) was signed into law by the King on 5 October 2021. While the Law has been enacted, the principal regulator, the Cambodia Competition Commission (“CCC”) has not yet been appointed and it is not clear how the Law will be enforced prior to a) such appointment and b) the issue of required regulatory instruments and decisions ...
The Law on Food Safety which was promulgated on 8 June 2022 obliges food business operators (such as food business owners or manufacturers, processors, packagers, wholesalers, retailers, and distributers) (“Operators”) to immediately notify the competent authorities of problems with the food products and cooperate with the authorities to implement measures to avoid or minimize risks caused by the food, as well as to trace, recall, and withdraw unsafe food products from the market ...
Overview On 15 October 2021, the New Law on Investment (“New Investment Law”) was promulgated, which aims to provide a comprehensive, transparent and predictable legal framework to attract both domestic and foreign investment. The New Investment Law replaces the existing 1994 Law on Investment and the 2003 Law on the Amendment to the Law on Investment (“Former Investment Law”) from its promulgation date (15 October 2021) ...
The Bill requires online retailers to take 'all reasonable steps' to avoid selling age-restricted products to those underage. It also requires annual advice from government to retailers setting out what constitutes 'all reasonable steps' ...
On the eve of the provisional entry into force of the Canada-Europe Free Trade Agreement, understanding its implications should be a top priority for any company wishing to expand its activities over the course of the next few years. The vote held at the European Parliament in favour of the ratification of the Agreement makes its entry into force imminent ...
The three major automobile manufacturers in the United States, General Motors, Ford and Chrysler, have indicated that without significant financial assistance from the government a filing for reorganization under Chapter 11 of the United States Bankruptcy Code is likely. Such a filing would have a significant impact on car dealers ...
Carey Olsen leads offshore firms in Chambers High Net Worth 2024 Keith Robinson, Bermuda partner and global head of the trusts and private wealth practice, maintains his prestigious Star Individual ranking for the second year in a row. The nine Band 1 rankings also include four practice rankings for Bermuda, Cayman Islands, Guernsey and Jersey ...
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 ...
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 ...
On March 24, 2020, the Commodity Futures Trading Commission (“CFTC” or the “Commission”) unanimously approved its final interpretive guidance (“Final Guidance”) regarding retail commodity transactions involving certain digital assets ...
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?) ...
The Franchise Act 1998 (FA) has been the main source of legislation which governs franchise businesses and the relationship between a franchisor and franchisee in Malaysia for more than 20 years. On 3 December 2019, the Franchise (Amendment) Bill 2019 was passed by the Lower House of the Parliament and received Royal Assent on 20 February 2020. Subsequently, the Franchise (Amendment) Act 2020 (the Amendment Act) was gazetted on 6 March 2020 ...
