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Cayman Islands beneficial ownership regime update

By Richard Fear, partner and Maree Martin, head professional support lawyer Since our Cayman Islands Beneficial Ownership Regime Alert in May 2017, the Cayman Islands Government has amended the beneficial ownership regime, and has issued further regulations. The Amending Laws modify who must comply with the beneficial ownership regime and impose new filing obligations on […]

Changes in Russian currency legislation

On 14 April 2018, the changes to the Federal Law ‘On Currency Regulation and Currency Control’ (the ‘Currency Regulation Law’) and the Code of the Russian Federation ‘On Administrative Offenses’ introduced by Federal Law No. 64-FZ dated 3 April 2018 became effective, which provide for the obligation of Russian residents to repatriate to their accounts […]

Can Kazakhstan tap Islamic Finance to become a regional Islamic Finance hub?

By Shaimerden Chikanayev As Central Asia’s largest and richest country, with a Muslim-majority population of around 18 million people, Kazakhstan wants its local Islamic banking industry, as an alternative source of capital for SMEs, to reach 3-5% of its total banking assets by 2020 from 0.08% in 2015… 

Football Association of Ireland settles Athlone match-fixing case

The Football Association of Ireland (FAI) has settled High Court proceedings brought by two former Athlone Town football players suspended by the FAI for match- xing. The proceedings concerned an appeal by the players Igors Labuts and Dragos Sfrijan against a 12 month suspension imposed by the FAI Independent Disciplinary Committee (Disciplinary Committee). The suspension […]

Soft drinks industry levy is in force

As reported last year, Government has introduced legislation enabling the introduction of the Soft Drinks Industry Levy (SDIL) in an attempt to reduce the consumption of sugary drinks. This so-called sugar tax came into force earlier this month. A drink is liable for SDIL if it meets all of the following conditions…

Rules of origin and the possible effect of Brexit on the food and drink sector

The European Commission has issued a Brexit notice to food business operators regarding the legal repercussions of the UK leaving the European Union. The Commission warns that EU food law may cease to apply to the UK from 30 March 2019 onwards. The consequences of this may include that, among other things, labelling on food […]

New EU legislation designed to reduce acrylamide in food

Whilst it is not possible to eliminate acrylamide completely from foods, it is possible to take steps to try and ensure that acrylamide levels are as low as reasonably possible. This is the reasoning behind the new Commission Regulation (EU) 2017/2158 which came into force this month. As from 11 April 2018, all food business […]

ISDA Master Agreements and the calculation of close-out payments

A recent case in the commercial court has highlighted that the change in wording between the 1992 and 2002 ISDA Master Agreements in relation to the calculation of the amount payable on early termination is a significant one. Under the 2002 agreement, the calculation of the close-out amount has to be objectively reasonable and not […]

Court’s approach to the sale of the family home on divorce

By Sarah Green The power of the court (or otherwise) to order that a property be sold on divorce during the course of proceedings has often been the subject of debate. The default approach has tended to be to wait until a final hearing, where it is clear that the court has power to make […]

Slovenia: Food supply chain – changes to the menu

Following an examination by the Competition Protection Agency regarding unfair trading practices in the food supply chain (for further information please see “Unfair trading practices in food supply chain examined”), the government drafted a proposal to amend and supplement the Agriculture Act. The proposal contained some major changes to the food supply sector. Parliament accepted […]

There’s no place like home until the neighbour interferes

My home is my castle. Unfortunately, the Austrian Supreme Court (“OGH”) doesn’t think so. The Austrian Civil Code (ABGB) entitles property owners to prohibit all emissions that exceed the local norm and have a substantial effect on the customary use of their property. Here are some rulings that the OGH has made since 2011…

New deal for consumers in the EU: A proposal to strengthen collective redress

The European Commission has just published its comprehensive proposal for the so-called “New Deal for Consumers”, which aims to strengthen EU consumer rights and enforcement. This includes the proposal for a new Directive enabling certain qualified entities to seek redress on behalf of consumers who have been harmed by an unlawful commercial practice. Collective redress […]

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