Tax tribunal holds that section 56 would not apply in the absence of any disproportionate allotment of shares to existing shareholders

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Significant beneficial ownership filings by listed companies – SEBI extends timelines

On 8 February 2019, the Ministry of Corporate Affairs (MCA) released the Companies (Significant Beneficial Owners) Amendment Rules 2019 (New SBO Rules) to revise and amend the Companies (Significant Beneficial Owners) 2018 (Old SBO Rules). As per the New SBO Rules, the first SBO-related filing is due on 12 May 2019. Vide circular No SEBI/HO/CFD/CMD1/CIR/P/2018/0000000149 […]

Plastic ban on 36 major railway stations

On 22 January 2019, the National Green Tribunal, Principal Bench, New Delhi (NGT) in the case of Saloni Singh & Anr v Union of India & Ors (OA No. 141 of 2014) inter alia, directed the Railway Administration, Ministry of Railways, Government of India (Railway Administration) to develop ‘eco-smart stations’ which would serve as model […]

Licensing structure for defence manufacturing by the MCI

On 1 January 2019, the Ministry of Commerce and Industry (MCI) vide Press Note No.1 of 2019 Series (Press Note 2019) specified the list of defence items under the Industries (Development and Regulation) Act, 1951 (IDRA) and the list of arms and ammunitions requiring license under Form VII of the Arms Act, 1959 (Arms Act), […]

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Bill 2: An Act to make Alberta open for business

On May 27, 2019, Alberta’s newly elected United Conservative Party government introduced Bill 2 and approved an Order in Council, making the Employment Standards (Minimum Wage) Amendment Regulation. If passed, Bill 2 will make amendments to Alberta’s Employment Standards Code and Labour Relations Code. Bill 2 reintroduces a number of provisions that were changed or […]

FCA releases new rules for crowdfunding platforms

The Financial Conduct Authority (FCA) published its in Policy Statement (PS19/14) on 4 June 2019, outlining new rules for loan based (‘peer-to-peer’) platforms. Why the new rules? The final rules follow on from, and are broadly in line with, the FCA’s proposals in the consultation it launched in July 2018 in CP18/20. The FCA’s aim […]

Public law case update

Our latest case update includes five significant cases chosen by the Public Law and Regulation team to highlight important principles or procedural points. These include the importance of disclosure to the principle of open justice, the ability of the Scottish Parliament to make provisions for Scots law after Brexit and whether a legitimate expectation can […]

Canada’s new Trademarks Act: taking advantage of divisional applications, and a caution about the database

After the changes to the Trademarks Act take effect on June 17, applicants will have a new tool for reaching registration efficiently — divisional applications. What are divisional applications? Under the new Act, it will be possible to divide a trademark application, with some goods/services staying in the original application, and some goods/services being removed […]

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New counsel at Walder Wyss

We are pleased to announce that three new counsel Davide Cerutti,Stefano Fornara and Urs Hofer joined our firm as of 1st of January, 2019. Davide Cerutti is mainly active in family law, property law, inheritance law, as well in medical law (civil liability, professional licences and human resources), lease law and debt and enforcement law/bankruptcy. His other areas of expertise […]

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Clifford Chance’s European investment pays off as Continent catches up with London

Continental Europe was the highest-grossing arm of Clifford Chance’s international footprint over 2017/2018, the first time the region has overtaken the UK figures in four years. The magic circle firm’s latest LLP accounts have revealed that its offices on the Continent generated £538m of the firm’s global turnover of £1.6bn, above the UK total of […]

Norton Rose Fulbright

Norton Rose Fulbright makes up for postponed promotions round with 46 appointments

Norton Rose Fulbright has kicked off 2019 by announcing 46 partner promotions across its global offices, after switching to an American-style calendar year-end last year. The firm did not make any partner promotions at all in 2018, having overhauled its financial reporting following its merger with US firm Chadbourne & Parke in 2016. The largest portion of the […]

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Seven firms win places on Heathrow’s legal panel

Freshfields Bruckhaus Deringer and Eversheds Sutherland are among the firms to have won places on Heathrow Airport’s slimmed-down roster. The company’s general counsel Carol Hui, who featured in The Lawyer Hot 100 in 2014, has appointed seven firms to the panel. The last review saw the appointment of 11 firms, with Blake Morgan, Brodies, DLA Piper and […]

No5 Barristers’ Chambers defends cricketer in rape trial

A QC at No5 Barristers’ Chambers is defending a county cricketer accused of raping a sleeping woman. Michelle Heeley QC is acting for Alex Hepburn, of Portland Street, Worcester, who was born in Perth, Western Australia. Hepburn, 23, denies two counts of rape. He claims the alleged victim was awake and initial kissing led to […]

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