The Legal 500

2009 focus and aims

Rollercoasteryear
•Creditcrunch
•Bankruptcy
•Cost-cuttingmeasures
•Productivityenhancements
•Lackofrevenuegrowth
•Focusonrepairingsheets
•M&Adealsdropped

CORPORATE GOVERNANCE IN PRACTICE

I. REGULATIONS, RECOMMENDATIONS ................................................................................................ 5
1. ARE PRINCIPLES OF CORPORATE GOVERNANCE INCORPORATED IN MANDATORY RULES IN YOUR JURISDICTION OR ARE THERE SETS OF RECOMMENDATIONS/CODES TO FOLLOW? .............................................. 5
2. PLEASE DESCRIBE IN BULLET POINTS THE MAIN CORPORATE GOVERNANCE RULES OR PRINCIPLES IN YOUR JURISDICTION. ......................................................................................................................................... 5

ACQUIRING REGULATED BUSINESSES: MERGERS AND ACQUISITIONS AND COMPETITION LAW PERSPECTIVES

Contents
1. Transaction and Merger Control 4
1.1 Initiation of Merger Control Clearance 4
1.1.1 At what point in time will merger control proceedings actually be started? 4
1.1.2 Which party is typically in charge of the filing? 5
1.1.3 Can this be achieved while still maintaining confidentiality? 6

Exercising Stock Options…....1
Summary of recently enacted
Legislation……………………3
Case Law ……………………..6
News in brief………………... 9

The unique possibility to declare collective settlements in Class Action cases binding upon all aggrieved parties only exists in The Netherlands. This possibility is based on the Dutch Collective Settlements Act (WCAM). Recently, the Amsterdam Court of Appeal has even opened its doors for cases that bind mostly non-Dutch nationals as well. To foreign (including U.S.) companies, it can be an attractive alternative solution to settle claims from victims residing in different countries, because it is a choice opportunity that can be used to end cross border mass disputes.

Are put and call options expressly regulated in your legal system or do they fall under general contract law?

Are they limited in any way?

Is there a particular form required to validly grant an option? Are they limited in any way?

The expansion of the oil and gas industry in Equatorial Guinea ("EG") has caused a significant increase in immigration, not just of qualified workers, but also of a substantial number of unskilled , and often illegal, immigrants, especially from the neighbour countries.

Despite a few setbacks on the way and the protracted discussions, the congress has finally approved Law 12.351/2010, of 22 December 2010, thereby replacing the old oil concession inplace in Brazil by a new set of contractual standards.

A New Building Permits Legal Regime was recently enacted in Cape Werde by way of Decree-Law 19/2011, of 28 February 2011.

As in past years, the 2011 Budget of the Macao Special Administrative Region (OR/2011) provided for various Tax exemptions, including for industrial tax and stamp duty, and deductions for professional tax (on work related income), urban property tax and complimentary income (on industrial and commercial income).