February 2011

Impact of direct tax code on special economic zones | Amarchand Mangaldas

The Special Economic Zones Act (SEZA) 2005 was enacted with the underlying objective to boost economic activity, promote exports and investment from domestic and foreign sources, create employment opportunities and develop infrastructural activities. Keeping such objectives in mind, various fiscal incentives were provided to the special economic zones (SEZs) under the Income Tax Act (ITA) …

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2011: a year of change for the UK immigration landscape | Magrath Sheldrick LLP

December 2010 was an incredibly eventful month for UK immigration practitioners, with further information published concerning the mechanisms of the permanent annual immigration limits (due to be implemented in April 2011), a judicial decision rendering the interim limits introduced by the coalition government as unlawful and the almost immediate removal of one of the UK …

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FSA CEO outlines new regulatory approach | Eversheds Sutherland

In a speech on 13 December, Financial Services Authority (FSA) chief executive Hector Sants outlined what firms can expect of the supervisory approach under the new regulatory structure following the abolition of the FSA in 2012. Sants attributed the financial crisis ‘first and foremost to massive misjudgements’ made by key financial institutions, before going on …

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Hot topics for 2011: environment and energy key changes | Burges Salmon

At the start of 2011, with environmental and energy issues high on the political agenda, this article highlights some of the key developments that can be expected by businesses and in-house lawyers in these fields this year. 


Saving billions of euros in public procurement | Wolf Theiss

Not least due to the financial crisis, the situation surrounding the public budget in central and eastern Europe (CEE) and southeastern Europe (SEE) countries is fraught with complications. Nonetheless, governments (including the states, provinces and municipalities) in the EU will invest a barely credible €2.5trn (ie €2,500bn) in various government contracts in 2011 – purchasing …

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UK tax: what will change in 2011? | Watson Farley & Williams

Continuing the recent trend of expanding the UK’s already extensive body of tax legislation, 2011 looks likely to be a busy year for the law makers. This article summarises the key tax changes that are set to take place over the next year.


Changes to the Prospectus Directive | Charles Russell Speechlys

Following a lengthy review and consultation process by the European Commission, the Prospectus Directive (Directive 2003/71/EC) (PD) has been amended after Directive 2010/73/EU (the Directive) came into force on 31 December 2010.


Court of Appeal re-affirms the test for offer and acceptance | Cooley

In the recent case of Crest Nicholson (Londinium) Ltd v Akaria Investments Ltd [2010], the Court of Appeal was once again tasked with confirming the proper test for offer and acceptance. This article will provide an overview of the rules of offer and acceptance, in addition to a brief review of Crest Nicholson, and key …

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A guide to corporate restructuring in the UAE | Baker & McKenzie Habib Al Mulla

Commercial markets in the UAE are still feeling the shock of the global economic recession, forcing many companies to undergo restructuring to ensure better efficiency and productivity. Yet, many of them are not aware of the legal intricacies and practical complexities surrounding a corporate restructuring.


Enforcement of standard securities | Brodies

Since the Conveyancing and Feudal Reform (Scotland) Act 1970 (the 1970 Act) came into force, the only lawful means of creating a fixed security over land and buildings situated in Scotland is by way of a standard security. In addition to creating this form of security, the 1970 Act provides for the imposition of various …

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A brand marriage made in heaven? Reputational risks in corporate partnerships | Schillings

In this digital age of social media and 24/7 rolling news, the need for a company to manage and maintain a positive image has never been more important. Today’s increasingly competitive commercial landscape can make correctly managing a reputation vital to commercial success. However, getting it right can be a tough challenge. Managing the reputation …

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Privilege: recent case law provides guidance on scope | Macfarlanes

The legal concept of privilege underpins much of the daily interaction between lawyers and clients because it allows a client uninhibited access to a lawyer’s professional advice, free from concern that confidential communications will be disclosed in any subsequent litigation. This article focuses on three recent cases that have provided clarification on the scope of …

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