Mondaq Business Briefing back issues from July 2008:
The Global Section 95 Election And Other Elections For Post-1994 Application Of Foreign Affiliate Amendments.(Bill C-28)
Jul 01, 2008 ... Bill C-28, the final 2007 Budget Bill, was enacted on December 14, 2007. In addition to measures implementing aspects of the March 19 2007 federal Budget, Bill C-28 also contained numerous technical amendments to the foreign affiliate rules in the Income Tax Act (Canada) (the ''Act'') ...
Sustainable Development In Infrastructure Projects - More Than Just An Utopian Ideal?
Jul 01, 2008; ... This article appeared in iCON, October 2006 and was written by Sarah Thomas, Partner at Pinsent Masons. No one can have escaped the stark warnings on climate change and the need for those responsible for funding, procuring and building new infrastructure to have one eye on ...
First UK Prison Sentences For Criminal Price-Fixing Will Encourage Greater Competition Law Compliance.(Case overview)
Jul 01, 2008; ... The sentencing, on 11 June 2008, of 3 former executives to significant terms of imprisonment for their part in a global cartel to fix the price of marine hoses will send a powerful message around the UK business community that the courts will not tolerate serious anti-competitive ...
EO Special Edition - New IRS Form 990 Changes The Landscape For Public Disclosure By Exempt Organizations.(exempt organizations )
Jul 01, 2008 ... In June 2007, the IRS released a draft of a revised Form 990 and provided the public with an opportunity for comments. This new IRS Form 990 was designed to be a significant departure - in both format and substance - from the old Form 990. Rather than a "one size fits all" approach, ...
SEC Begins Small Business Cost-Benefit Study Of Section 404 Of The Sarbanes-Oxley Act Of 2002 And Proposes One-Year Extension Of Final Compliance Requirements For Smaller Companies.(Securities and Exchange Commission)
Jul 01, 2008; ... On February 1, 2008, the SEC announced that its professional staff has commenced a cost-benefit study of the upcoming auditor attestation requirement for smaller companies under Section 404(b) of the Sarbanes-Oxley Act of 2002. The study will collect and analyze extensive ...
Time Is Money.(U.S. Department of Labor)(Fair Labor Standards Act)
Jul 01, 2008; ... Two Recent DOL Opinions Illustrate The Administrative Exemption The U.S. Department of Labor (DOL) recently issued two opinion letters providing guidance to employers on how to apply the Administrative Exemption under the Fair Labor Standards Act. The opinions highlight the ...
Oh, What A Tangled Web We Weave: Resume Fraud As A Defense To Employment Claims.
Jul 01, 2008; ... In an increasingly competitive job market, job-seekers are quick to take whatever steps they can to present themselves as qualified and attractive candidates to employers. Although there is no agreement on the prevalence of resume fraud, with the proliferation of websites geared to ...
Hyperlinking Policy.(web navigation)
Jul 01, 2008 ... Hyperlinks are an integral part of the World Wide Web. They allow users to navigate the internet using just a mouse or to source files located on remote servers. The use of hyperlinks is so prevalent few people stop to consider the legal implications of how they create or use them. ...
REACH: Only Representative Rules Change Again.(Registration, Evaluation, Authorisation and Restriction of Chemical)
Jul 01, 2008; ... Overview Pre-registration of substances under REACH started on 1 June 2008 and ends on 1 December 2008. Substances on their own, in preparations or in articles (i.e. finished products) which are not pre-registered during that period cannot be manufactured in the EU or ...
Going Green - Do Your ICT Credentials Make The Grade?(information communication technology)
Jul 01, 2008 ... For many businesses information communication technology (ICT) infrastructure is now one of the largest contributors to their carbon footprint. Driven by investor and consumer environmental concerns, organisations are implementing environmental policies across their operations and ...
Implications Of The Emerging Patent Litigation In India.
Jul 01, 2008 ... Patent litigation, it seems, has emerged from the shadows for the time being. The nation-wide debate on the denial of patent to 'Gleevec', the cancer drug of the Swiss pharma major Novartis and also on the Patent Act being TRIPS compliant or not, the stand-off between Bajaj Auto Ltd ...
Assignment' Looked Into By Copyright Board.(Copyright Act, 1957)(Case overview)
Jul 01, 2008 ... The substantive point of law covered in the present case, Bharati Dutta v. Dr. Saradindu Basu & Anr. 2008 (37) PTC 178 (CB), pertains to section 19A (2) of the Copyright Act, 1957. The particular section enumerates the mode of assignment of copyright. Assignment of copyright is ...
NSW Planning, Environment & Government Update - June 2008.(Environmental Planning & Assessment Amendment Act 2008 )
Jul 01, 2008 ... Comprehensive changes to NSW planning laws have now been passed and will soon take effect, but some important changes have been made since the Draft Exposure Bill and are detailed in this update. The Environmental Planning & Assessment Amendment Act 2008 was passed by ...
Finding The Right Home.
Jul 01, 2008 ... Interesting framework and EU membership are making Gibraltar an attractive domicile for hedge funds. If a promoter or fund manager wants to have his hedge fund, which, for instance, has been constituted in the Caribbean, registered as an Experienced Investor Fund (EIF) under the laws ...
ECJ Prolongs Market Access For "Free Riders".(European Court of Justice)(Case overview)
Jul 01, 2008 ... Overview On 22 May 2008, the European Court of Justice ("ECJ") delivered its judgment in case C-361/06, Feinchemie Schwebda and Bayer CropScience v College voor detoelating van bestrijdingsmiddelen. This important decision concerns the circumstances under which companies who ...
Regional Climate Change Initiatives: An Overview.
Jul 01, 2008; ... Article by Perkins Coie And Fasken Martineau Originally published May 1, 2008 Introduction Concerns about climate change have sparked global efforts to regulate carbon dioxide and other "greenhouse gases" (GHGs). Recent, and sometimes inconsistent, ...
Amendments To The Copyright Act.(World Intellectual Property Organization)
Jul 01, 2008 ... The Conservative Government introduced important new amendments to Canada's Copyright Act on June 12 which are designed to update the law to reflect the development of digital technologies, in particular the internet. The amendments proposed in Bill C-61, An Act to Amend the Copyright ...
Outgoing Directors Should Be Wary Of Looking To Corporate Bylaws For Protection.
Jul 01, 2008 ... Corporate bylaws often extend certain protections to former directors, including (for example) the advancement of litigation-related expenses to a director who is sued in connection with his or her corporate duties (a sort of "indemnity-in-advance"). However, the recent decision of the ...
Canada Launches AWS Auction.(Advanced Wireless Services)
Jul 01, 2008 ... Canada's Advanced Wireless Services (AWS) Spectrum Auction commenced on May 27, 2008, with twenty-seven qualified bidders participating.1 The bidders include Bell Mobility, Bragg Communications, Quebecor/Videotron, Rogers Communications, Shaw, Telus and MTS Allstream. ...
Five Common Employment Law Hazards For Start-Ups.
Jul 01, 2008; ... Emerging, venture capital-backed companies typically face a host of legal considerations but have limited personnel and monetary resources to address all of them comprehensively. Often lacking in-house human resources and legal expertise, many emerging companies employ a "band-aid" ...
Today's The Day: The Ontario Human Rights Process Changes.(Human Rights Code Amendment Act, 2006)
Jul 01, 2008; ... This is a reminder that the Human Rights Code Amendment Act, 2006 comes into force on June 30, 2008, with important implications for employers. The Act, which was passed in December 2006 as Bill 107, amends the Ontario Human Rights Code and significantly changes the way in which human ...
Lie To The ACCC At Your Peril - The ACCC Commences Criminal Prosecution For Breach Of Section 155 Of The Trade Practices Act.(Australian Competition and Consumer Commission)
Jul 01, 2008; ... In a high profile case demonstrating the seriousness with which Australia's competition regulator, the Australian Competition and Consumer Commission (ACCC) will pursue those involved in breaches of the Trade Practices Act (TPA), the ACCC has commenced criminal proceedings against the ...
Changes To The Federal Lobbyists Registration Act.
Jul 01, 2008; ... Important changes to the Federal "Lobbyists Registration Act" take effect on July 2, 2008. The newly-named "Lobbying Act" increases both the reporting requirements for registered lobbyists and the penalties for non-compliance. The major changes in the Act are summarized below. ...
When Will "Conditions Apply" Cover You?
Jul 01, 2008; ... Many advertisers treat "conditions apply" as a magical incantation. I have known some to include these words in an advertisement, believing that they are then covered for all manner of exclusions. I have also known advertisers who include these words because they feel they must, simply ...
Supreme Court Of Canada Decides The "Keays v. Honda Canada" Case.(Case overview)
Jul 01, 2008 ... On June 27, 2008 the Supreme Court of Canada released its decision in Keays v. Honda Canada,1 the most anxiously awaited employment decision in recent memory. As will be seen, the Court took the occasion to clarify the approach that is to be taken when awarding damages in employment ...
Application Under CPR Part 18.1 For Further Information: Two Apparently Contradictory Judgements.(Civil Procedure Rules)
Jul 01, 2008; ... CPR Part 18.1 provides for the court to make an order requiring a party to clarify any matter which is disputed in legal proceedings, alternatively to give additional information in relation to such a matter. In the case last year of "Harcourt v FEF Griffin" [2007] EWHC ...
Bata Succeeds On Procedural Grounds.(Bata India Ltd. v. Khadim Holdings Pvt. Ltd.)(Case overview)
Jul 01, 2008; ... Trademarks in serving the purpose of oidentificationo and obrand-establishmento often become the bone of contention as regards attainment of the status of a generic word. While the issue of deceptive similarity may also cloud such a matter, rival impress upon holders of trademarks ...
Global Recognition For Hassans And James Levy.
Jul 01, 2008 ... In an event unique in Gibraltar's legal history, Hassans, Gibraltar's largest law firm, in May this year achieved a double accolade. At an impressive ceremony in Barcelona the firm's Senior Partner James Levy QC received a Life Time Achievement Award - a singular recognition from Chambers ...
Keays v. Honda Canada Inc. - Supreme Court Of Canada And Honda In Accord.(Kevin Keays )
Jul 01, 2008 ... Today the Supreme Court of Canada released its long-awaited landmark decision in Keays v. Honda Canada Inc., arguably the most important employment law case in Canada in years. The case dealt with a number of legal concepts including the interplay between wrongful dismissal and human ...
An Inconvenient Rule: Change Your Compliance Climate.
Jul 01, 2008 ... Between the UN Climate Change Conference last December and the popularity of Al Gore's global warming documentary "An Inconvenient Truth", environmental protection has never before garnered such a great degree of public attention and awareness. Marketers are responding to the public's ...
SEC Publishes Proposed Rule to Modify Oil and Gas Reporting Requirements.(United States Securities and Exchange Commission)
Jul 01, 2008 ... Originally published June 30, 2008 Keywords: Keywords: SEC, reporting requirement, oil reserves, gas reserves, Rule 4-10, Regulation S-X, proved oil, Royal Dutch Shell On June 26, 2008, the US Securities and Exchange Commission (SEC) published for ...
Leniency Regimes: Greece.(leniency policy )
Jul 01, 2008; ... Background 1. What is the relevant legislation containing the leniency policy and what is the enforcing body? Article 9(4) of Law 703/1977 on the control of monopolies and oligopolies and the protection of free competition, as in force, provides the Hellenic Competition ...
Licensed Premises Changes To POPEs And Trial Periods.(Place of Public Entertainment)
Jul 01, 2008; ... gadens lawyers will shortly release a separate more comprehensive Update on changes to laws relating to licensed premises. In the meanwhile, the following reforms are noteworthy. Place of Public Entertainment (POPE) The package of reforms instigated by the Amendment Act ...
Guernsey - Punching Above Its Weight.(GuernseyFinance)
Jul 02, 2008 ... Originally published in the HFM Week, Guernsey Report, June 2008 Writing in this supplement last year I was reporting on Guernsey's 'booming' investment funds industry - all the statistics were going through the roof. Given the substantial growth that was the hallmark of 2006 ...
Setting New Highs.(GuernseyFinance)
Jul 02, 2008 ... Originally published in the HFM Week, Guernsey Report, June 2008 Kevin Gilligan of Louvre Fund Management looks to the future of Guernsey The Guernsey funds sector continues to reach new highs as the island becomes the jurisdiction of choice for fund promoters and ...
Guernsey's Biggest Asset.(GuernseyFinance)(dialogue with Wayne Bulpitt )(Interview)
Jul 02, 2008 ... Originally published in the HFM Week, Guernsey Report, June 2008 Wayne Bulpitt of Active Group discusses the meaning of hedge funds as an asset class and current trends in the ever changing investment market HFM Week (HFM): What are the different types of asset ...
New Spanish Air Pollution Legislation.
Jul 02, 2008 ... A new Spanish Law on air pollution has been published and is likely to lead to increasingly strict controls on air emissions for many sectors. There has been a tendency in the last few years to view all environmental ills in terms of their contribution to climate change. ...
Supreme Court Decides That Pre-Confirmation Transfer Tax Exemptions Are No Longer On The Menu In "Piccadilly Cafeterias".(Case overview)
Jul 02, 2008 ... On June 16, 2008, the United States Supreme Court (the "Court") held that section 1146(a)1 of Title 11, 11 U.S.C. s. 101 et seq. (the "Bankruptcy Code") only affords a stamp-tax exemption to transfers made pursuant to a confirmed Chapter 11 plan of reorganization, thereby resolving a ...
Communications Law Bulletin, June 2008.(Federal Communications Commission)(Company overview)
Jul 02, 2008 ... The Month In Brief June was a busy month at the Federal Communications Commission ("FCC" or "Commission"), with intense enforcement activity, a rule change that makes Do-Not-Call list registrations perpetual, new broadband reporting requirements, and other initiatives. We ...
US Banking Agencies Publish Basel II "Standardized" Risk Capital Proposal for Non-Core Banks.
Jul 02, 2008 ... Contents: US Banking Agencies Publish Basel II "Standardized" Risk Capital Proposal for Non-Core Banks SEC Proposes to Eliminate Specific Credit Rating Standards in 1940 Act and Advisers Act Rules SEC Proposes New Rules Regarding Indexed Annuities that ...
Stock Options Revisited: A Renewed Focus On Net Exercise Provisions.
Jul 02, 2008; ... Returning To The Good Old Days Recent changes in the tax laws and accounting pronouncements have spawned a renewed interest in equity grants that are settled in stock. Until the issuance of Accounting Principles Board Opinion No. 25, most stock options provided optionees ...
Federal Trade Commission Warns Firms That It Will Challenge Acquisitions That Take Place In Small Increments.
Jul 02, 2008; ... On April 28, 2008, the Federal Trade Commission (the "FTC") announced a complaint challenging a string of transactions completed between 2002 and 2005, and proposed a consent order that imposed conduct restrictions on the acquirer in order to reduce the anti-competitive effects of the ...
New Standard For Vapor Intrusion Assessments: An Introduction To ASTM E 2600-08.
Jul 02, 2008 ... In March 2008, ASTM International published ASTM E 2600-08: Standard Practice for Assessment of Vapor Intrusion into Structures on Property Involved in Real Estate Transactions. This is the first comprehensive national standard to address vapor intrusion in the context of real estate ...
Evidentiary & Attorneys' Fees Issues Surrounding Tenant Debtor's Assumption Of Lease.(Case overview)
Jul 02, 2008 ... A recent case involving a tenant debtor's motion to assume its real property lease demonstrates that bankruptcy courts can and will examine evidence in addition to a debtor's financial capabilities and/or payment of a security deposit or guarantee to determine whether a tenant debtor ...
Section 409A Compliance Deadline: December 31, 2008.
Jul 02, 2008 ... In 2007, the IRS issued final regulations interpreting the requirements imposed on nonqualified deferred compensation arrangements by Section 409A of the Internal Revenue Code. The final regulations were effective January 1, 2008, but the IRS has previously extended the deadline for ...
The Supreme Court Decides Quanta v. LGE.(Case overview)
Jul 02, 2008 ... The highly anticipated decision rules on when a patent is exhausted. On June 9, 2008, in a highly anticipated decision, the Supreme Court of the United States issued its unanimous opinion in Quanta Computer, Inc. v. LG Electronics, Inc. The Supreme Court, continuing a string ...
Court Holds Total Return Swaps Confer 13(d) Beneficial Ownership.(Case overview)
Jul 02, 2008 ... Judge Kaplan's decision has significant implications for activist hedge funds and other activist investors, investment and commercial banks that engage in total return swap transactions and companies seeking to defend themselves in corporate control fights. Changes in the calculation of ...
Massachusetts Enacts Comprehensive $1 Billion Life Sciences Initiative.
Jul 02, 2008 ... Life sciences and biotech companies should evaluate the opportunities for their businesses. On June 16, 2008, Massachusetts Governor Deval Patrick signed into law an "Act Providing for the Investment in and Expansion of the Life Sciences Industry in the Commonwealth" (the ...
New Dutch Water Legislation.
Jul 02, 2008 ... A new Act on water management in the Netherlands aims to provide integrated management and fulfil EU water objectives. 2008 is an important year for all parties involved in the process of water management in the Netherlands. The Dutch government has drafted a new integral ...
Irish Regulatory Provisions For Using Derivatives In Long/Short And 130/30 Strategies in UCITS Funds.
Jul 02, 2008; ... 1. Introduction Under UCITS III, UCITS funds may invest in derivative instruments for investment purposes as well as for EPM purposes. The Financial Regulator has, through its UCITS Notices and Guidance Notes prescribed, in detail, the risk management conditions ...
Amended Mechanic's Liens In Illinois Lose Effectiveness.
Jul 02, 2008; ... Illinois mortgage lenders, and probably owners as well, got a break from the Illinois Appellate Court (Court) when the Court issued its decision in Cordeck Sales Inc. v. Construction Systems, Inc, (Cordeck Sales) 2008 WL 919684 (1st Dist. Ill. App. Ct., March 31, 2008). That decision ...
New 2008 Auction Procedure For Subsoil Use Special Permits.
Jul 02, 2008; ... On 17 June 2008, a new auction procedure came into force for the sale of special permits for subsoil use in 2008. The new auction procedure is prescribed in the Resolution. It is more transparent and straightforward than previous procedures but also gives greater control to ...
The General Anti-Avoidance Rule: Are We Moving Away From Consistency, Certainty And Predictability.
Jul 02, 2008; ... The General Anti-Avoidance Rule (the "GAAR"), contained in section 245 of the Income Tax Act (Canada) (the "Act"), is a provision which allows the Canada Revenue Agency ("CRA") to redetermine the tax consequences of a transaction(s) entered into by a taxpayer in an effort to deny the ...
CRTC To Look At Broadcasting In New Media.(Canadian Radio-television and Telecommunications Commission)
Jul 02, 2008 ... On May 15, 2008, the Canadian Radio-television and Telecommunications Commission (CRTC) issued a public notice indicating that it would be commencing a proceeding later this year to examine broadcasting delivered and accessed over the Internet and over mobile devices. This promises to ...
Government Unveils Renewable Strategy Plan.
Jul 02, 2008; ... The UK Government issued today a consultation paper on the UK's Renewable Energy Strategy. The aim of this paper is to set out the measures which the UK will need to take, in addition to already existing measures, to meet the UK's share of the EU's renewable energy target for 2020, ...
FOS: Court Of Appeal Decisions.(Financial Ombudsman Service )
Jul 02, 2008; ... Recent Court of Appeal Judicial Review and Appeal decisions confirm FOS procedures are lawful and reasonable Introduction The Court of Appeal has recently confirmed in Judicial Review Proceedings before it that the Financial Ombudsman Service ("FOS") fair and reasonable ...
New Oil And Gas Safety Rules.
Jul 02, 2008; ... New safety rules for the oil and gas industry will come into force on 1 August 2008. The new rules, which were adopted on 6 June 2008 by the State Committee for Industrial Safety, Labour Protection and Mining Supervision: will apply to everyone involved in design, ...
The Supreme Court Considers Conflicts Of Interest In Benefit Claims Procedures.(Employee Retirement Income Security Act of 1974)(Case overview)
Jul 02, 2008; ... On June 19, 2008, the Supreme Court issued an opinion in Metropolitan Life Insurance Co. v. Glenn, holding that where an insurance company both determines an appeal for ERISA benefits and pays that claim, a conflict of interest as described in Firestone v. Bruch is presented. Where the ...
Switzerland's Cayman Connection.
Jul 02, 2008; ... Paul Scrivener, partner with Cayman law firm, Solomon Harris, explores the interaction between the two jurisdictions when it comes to funds of hedge funds Switzerland is a particularly interesting jurisdiction when it comes to the alternative investments industry. In 2007 ...
Raising The Bar - New Standards Of Best Practice For Hedge Fund Managers?
Jul 02, 2008 ... Paul Scrivener of Solomon Harris takes a look at the recent reports of the UK Hedge Fund Working Group and the President's Working Group in the US. Recent statistics indicate that the hedge fund industry is now a two trillion dollar industry. Still a small proportion of ...
Retirement Village Amendment Bill NSW Released.
Jul 02, 2008; ... On 26 June 2008, the New South Wales Minister for Fair Trading, Linda Burney, introduced to Parliament the long awaited Retirement Village Amendment Bill NSW (the Bill). While many provisions are similar to the exposure draft released in November 2006, this new Bill still ...
New Fair Payment Drafting Published By The NEC Panel Pursuant To OGC Guidance.(National Electrical Code)(United Kingdom. Office of Government Commerce)
Jul 02, 2008; ... The NEC Panel has this month issued a new secondary option clause for use where parties wish to implement the recommendations made by the OGC last year in its Guide to best 'Fair Payment' practices. While aimed at the public sector, the issues are essentially the same for the private ...
High Court Alters Eligibility For Unemployment Insurance In Washington State.
Jul 02, 2008; ... On June 19, 2008, the Washington Supreme Court relied on legislative history and the plain language of Washington's unemployment insurance law to hold in Spain v. Employment Security Department, No. 7987-8 (June 19, 2008), that the listing of specific reasons in RCW section ...
Keays v. Honda Canada Inc.(Kevin Keays)(Case overview)
Jul 02, 2008; ... The Supreme Court of Canada (SCC) released its much-anticipated decision in the appeal of the landmark case Keays v. Honda Canada Inc. on Friday, June 27, 2008. The decision, which is summarized below, is very favourable for employers for three key reasons: It ...
Private Equity - Is It Win Or Bust?
Jul 02, 2008; ... It is only a year ago that The Economist declared Private Equity (PE) the new "Kings of Capitalism". Now, doom mongers are predicting its rapid demise. As so often in life, the truth lies somewhere in-between. PE funds buy underperforming companies from their existing ...