the Islamic finance and banking industry has experienced tremendous development in the past three decades. The innovation of various new products and instruments has been a symbol of creativity and interaction between banking consumers, Muslim scholars, bankers, and accounting and legal practitioners. What began as a pioneering idea has now become a well-known industry that …
The Carbon reduction commitment Energy Efficiency Scheme (the CRC) became effective on 1 April 2010. A full review of this has already been included in IHL179. However, the CRC will have important consequences that need to be considered by corporate lawyers and, in particular, in relation to corporate transactions, such as M&A and private equity …
Amid the coverage of the UK general election and its aftermath, the activities of the Scottish Parliament and Scottish government have dropped beneath the radar. Of course, this will only be a temporary absence, particularly since the Scottish media and political parties will soon have to switch their focus to next year’s Scottish Parliamentary elections. …
The modernisation of business practice dictates that companies need to adapt quickly to their business environments. As a result, parties to long-term contracts may need to change or modify their contractual rights for them to have a continued commercial effect. This can be done in one of two ways. One option is for the parties …
The current economic situation has forced many companies to reduce costs. Such cost reductions can often only be effected by implementing important changes in the organisation (reorganisation), which most of the time leads to (collective) redundancies. To have a legally valid reorganisation in the Netherlands, there are several statutory requirements to comply with. This article …
On 28 April 2010 the British Columbia (BC) government introduced Bill 17, the Clean Energy Act (the Act), into the legislature for its first reading. The Act provides a foundation to assist the province in achieving its goals of electricity self-sufficiency, job creation and reduced greenhouse gas (GHG) emissions. The Act builds on the work …
Depending on which newspaper you read, the Digital Economy Act 2010 (the 2010 Act), which became law on 8 April 2010 after a speedy parliamentary ‘wash-up’ procedure, is either going to kill or cure the digital ills of the nation. Certain quarters of the press would have us believe that it is only a matter …
Credit Rating Agencies (CRAs) have recently been on the receiving end of increasingly close scrutiny by regulators as decision-makers on both sides of the Atlantic have asked serious questions of the role and structure of the established CRAs. The ongoing US Senate and New York Attorney General investigations into the financial crisis, together with recently …
In the current market, tenants increasingly seek to exercise break clauses of over-rented and unwanted properties, but in so doing have encountered resistance from landlords. Three recent High Court and Court of Appeal decisions underline the difficulties a tenant faces in attempting to effect a break clause in a commercial lease. This article will examine …
The third party rights against insurers legislation allows a claimant to make a claim against a defendant’s insurers without having to issue court proceedings (and the term ‘defendant’ is used here to describe the party pursued by a claimant, whether or not proceedings have been issued). Furthermore, the rules apply as much where a defendant …
The internet promised a revolution in retailing. ‘One-click’ shopping was heralded as the ultimate in ease and comfort for savvy shoppers. While this remains largely true, increasingly the online retailing experience is characterised by a myriad of terms and conditions (T&Cs), privacy policies, order confirmation e-mails and delivery status notifications that need to be either …
The Bribery Act 2010 (the 2010 Act) is expected to come into force in October, but it is clear that many companies and their in-house legal teams still have a lot of work to do before they are ready to comply with the new law. At the end of March, with the new law on …
