The Legal 500

Legal Developments worldwide

• Mandatory Transfer pricing documentation requirements introduce into French tax law

   
  - Melot & Buchet Avocats

• CORPORATE DEPARTMENT NEWSLETTER

  JANUARY 2010 Newsletter
  - George Y Yiangou & Co

• DIRECTOR’S RESPONSIBILITIES IN A LIMITED LIABILITY COMPANY

  In a Limited Liability Company (”Company”), the Director is one of the Company’s organs who oversees the activities of the Company. In overseeing the activities of the company, the Director has the right and authority to act for and on behalf of the Company.
  - Frans Winarta & Partners

• Federal Law "On the Principles of State Regulation of Trading Activity in the Russian Federation"

  On 1 February 2010, the Federal Law "On the Principles of State Regulation of Trading Activity in the Russian Federation" (the "Law") comes into force, which will substantially change the rules applicable to trade activities.
  - Baker & McKenzie

• New Rules for Issuing Domestic Secured Bonds In Russia

  Starting January 2010, amendments to Federal Law No. 39-FZ “On the Securities Market” dated 22 April 1996 entered into force, affecting the issue of domestic bonds by Russian issuers. The new rules will apply to all domestic bond issues to be placed in the market after 31 December 2009.
  - Baker & McKenzie

• Funds find a New Home in Gibraltar

  Despite numerous proposed changes, Gibraltar is well placed to capitalise on to the proposed European Directive controlling Fund Managers, argues Joey Garcia
  - ISOLAS

• 2010 quota for foreign workers distributed. List of quota-exempt professions for 2010 approved.

  In accordance with the order distributing the 2010 quota of work permits, a fixed number of work permits can be issued in each Russian region to work in different professions. Thus, for example, for Moscow the general quota for all professions is established at 250,000 work permits (which is considerably less than in 2009), and for St. Petersburg – 210,066 work permits.
  - Baker & McKenzie

• Plant variety rights in the distribution chain

  Under the system of plant breeders rights, also known as plant variety rights, the breeder of a new variety can obtain an exclusive right to perform certain acts with respect to material [1] of his protected variety. This exclusive right comes in the form of a certificate which is granted by a body mandated to do so,[2] provided that the variety meets the grant criteria laid down in the law. Upon grant of the certificate, and sometimes ever even before, only the breeder of the protected variety[3] is entitled to (re)produce material from the variety, condition it for the purpose of propagation, offer it for sale, sell it or otherwise put it to market, export it, import it, or stock it for any of these purposes. Subject to a number of exceptions and unless authorization from the breeder is obtained, these acts are thus reserved for the breeder of the protected variety. They are referred to as the ‘reserved acts’.
  - ALTIUS (in cooperation with Tiberghien)

• Changes to the child visitor immigration rules from 1 January 2010

  From 1 January 2010, students from countries outside the European Economic Area will be able to apply to enter the UK for up to six months on an exchange or educational visit to a state-maintained school, a non-maintained special school, an independent fee-paying school or an independent non fee-paying school. They will not require entry clearance, unless they are nationals of countries who require a visa to enter the UK.
  - Penningtons Solicitors LLP

• Introduction of biometric processing for tier 2 in-country applications  - a reminder

  Regulations extending identity cards for foreign nationals (ICFN) to skilled workers came into force on 6 January 2010. All tier 2 applications made inside the UK now involve the enrolment of the applicant's biometric information (fingerprints and photograph).
  - Penningtons Solicitors LLP