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Press releases and law firm thought leadership

This page is dedicated to keeping readers informed of the latest news and thought leadership articles from law firms across the globe.

If your firm wishes to publish press releases or articles, please contact Shehab Khurshid on +44 (0) 207 396 5689 or shehab.khurshid@legalease.co.uk

 

Legal Developments Worldwide

Articles contributed by Baker & McKenzie

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New rules due on assessment of workplace working conditions

October 2011 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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Continuing our practice of regularly updating our clients on changes in the Russian legislation, in this legal alert we would like to inform you that as of September 1, 2011, the Ministry of Health and Social Development of the Russian Federation will introduce a new procedure for assessing working conditions in workplaces. 1 [1] Results of workplace assessments with respect to the working conditions conducted before September 1, 2011 (in accordance with the procedure currently in effect 2 [2]) will remain valid up until the next regular assessment.

Changes in VAT treatment of retroactive discounts

October 2011 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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Recent developments

On 1 October 2011 important changes to the VAT treatment of retroactive discounts introduced by Federal Law No. 245-FZ dated 19 July 2011 as part of a wider package of VAT amendments will come into effect. The new rules resolve the long-standing uncertainty as to the VAT treatment of retroactive discounts.

New rules on medical certificates for obtaining work permits

October 2011 - Employment. Legal Developments by Baker & McKenzie.

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As of July 1, 2011 the Department of the Federal Migration Service for the city of Moscow (the "UFMS for Moscow") will only accept HIV-test certificates issued by Russian state medical and prophylactic organizations [1]. According to the UFMS for Moscow, these new rules are based on a resolution of the Chief Sanitary Doctor of the Russian Federation [2]. The rules will apply to all foreign nationals who need a medical check to obtain work permits.

Import licensing of medicines to be abolished in the Customs Union

September 2011 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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What’s new

A new version of the Regulation on the Procedure for Importation of Medicinal Preparations and Pharmaceutical Substances Into the Territory of the Customs Union (hereinafter – the “Regulation”)1 that abolishes import licensing of registered medicinal preparations was issued on August 16, 2011 by the Commission of the Customs Union of Russia, Belarus and Kazakhstan and comes into effect on October 2, 2011.

New procedure for JI projects in Russia

September 2011 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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On September 15, 2011 the Government of the Russian Federation again changed the procedure for approval and implementation of projects for reduction of greenhouse gases carried out in accordance with Article 6 of the Kyoto Protocol of the UN Framework Convention on Climate Change by Russian Government Resolution No. 780 of 15 September, 2011 “On measures to implement article 6 of the Kyoto Protocol to the UN Framework Convention on Climate Change”, which adopted the Regulations “On implementation of Article 6 of the Kyoto Protocol to the UN Framework Convention on Climate Change” (jointly – the “Resolution”).

Artificial Land Plots to Gain Definite Status

August 2011 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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A new law is to provide the legal regime governing artificially created land plots in federally-owned bodies of water, bringing more certainty to urban and infrastructure development market.

Ukraine’s New Anti-Corruption Law

July 2011 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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On 1 July 2011, the new Law of Ukraine “On the Prevention of and Counteraction against Corrupt Practices in Ukraine” (the “New Law”) entered into force (except for certain provisions concerning income declaration by state officials, which will become effective on 1 January 2012). The New Law sets forth the main principles for combating corruption. Also, certain amendments to the Criminal, Administrative Violations, and Criminal Procedural Codes of Ukraine entered into effect at the same time as the New Law.

Conducting Business in Ukraine 2011

July 2011 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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This handbook has been prepared by the attorneys of the Kyiv office of Baker & McKenzie as a general guide for companies operating in or considering investment into Ukraine. It is intended to present an overview of the key aspects of the Ukrainian legal system and the regulation of business activities in this country.

Doing Business in Azerbaijan 2011

June 2011 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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Doing Business in Azerbaijan 2011 is a general guide for companies operating in or considering investment into Azerbaijan. It is intended to present an overview of the key aspects of the Azerbaijani legal system and regulation of business activities in this country.

Currency Swaps and Other Hedging Instruments Now Permissible for Ukrainian Banks

May 2011 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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On 13 April 2011 the National Bank of Ukraine (the "NBU") approved Resolution No. 111 "On Amendments to Certain Regulations of the National Bank of Ukraine" ("Resolution No. 111"), which is to amend, inter alia, the Regulation on the Procedure and Terms of Foreign Currency Trades, approved by the NBU Resolution No. 281 dated 10 August 2005.

Doing Business in Russia 2011

April 2011 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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Each year, Baker & McKenzie lawyers produce Doing Business in Russia - a general guide for companies operating in or considering investment into the Russian Federation. The guide presents an overview of the key aspects of the Russian legal system and regulation of business activities in this country.

Doing Business in Kazakhstan 2011

April 2011 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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Doing Business in Kazakhstan is a guide for companies operating in or considering investment into the Kazakhstan. The 2011 edition presents an overview of the legal system and business regulations in the country.

Supreme Arbitrazh Court Approves Clarifications on Pledge and Mortgage

March 2011 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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The Supreme Arbitrazh Court of the Russian Federation (“SАС”) approved, in a plenary session on 17 February 2011, Resolution No. 10 “On Certain Matters Relating to Enforcement of the Legislation on Pledge” (the “Resolution”). The resulting document sums up court practice of application of the legislation on pledge and mortgage in light of reform thereof in 2008, and provides interpretations to a number of controversial issues. However, the Resolution does not cover all situations and the issue of providing security in favor of an agent, bank in syndicated lending, for example, remains unresolved.

NBU Updates Foreign Investment Rules

March 2011 - Finance. Legal Developments by Baker & McKenzie.

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On 22 December 2010, the National Bank of Ukraine (the "NBU") adopted Resolution No. 572 "On Regulation of Certain Issues Relating to Currency Operations" (the "Regulation"), which will come into effect on 22 March 2011 

New Law Regulating City Development Became Effective Today

March 2011 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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Law of Ukraine No. 3038-VI "On Regulation of City Development Activity", came into force today, 12 March 2011 (henceforth the "Law").

Registration of Foreign Non-Commercial Entities

March 2011 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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On 16 March 2011, the Cabinet of Ministers of the Republic of Azerbaijan enacted Resolution No. 43 approving the Rules for Negotiating and Entering into an Agreement Concerning Registration of Branches and Representative Offices of Foreign Non-Commercial Legal Entities in the Republic of Azerbaijan (the"Rules").

Significant New Rules for Ukrainian Banks and their Shareholders

March 2011 - Finance. Legal Developments by Baker & McKenzie.

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On 11 March 2011 the President of Ukraine signed Law of Ukraine No. 3024-VI "On Amendments to Certain Laws of Ukraine Regarding Regulation of Banking Activity" (the "Amendments") adopted by Verkhovna Rada on 15 February 2011.  The Amendments come into effect three months after their official publication, i.e., on 17 June 2011.

Amendments to Russian Migration Legislation

March 2011 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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Amendments to the rules for migration registration of foreign nationals and to the rules for employment of certain categories of foreign nationals in Russia have been published and came into legal effect on March 25, 2011. 

Recent Changes to Kazakhstan's Constitution

March 2011 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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Following an unusual series of disagreements between the President and the Parliament of Kazakhstan concerning the President’s term of office, the Constitution of the Republic of Kazakhstan1 was amended recently -- fully in accordance with the law - - to allow for early Presidential elections. Specifically, the Parliament proposed a constitutional amendment that would have allowed a referendum on extending the current President’s term of office. However, the President did not support extending his term of office and submitted the proposed amendment to the country’s Constitutional Council, which declared the proposed amendment unconstitutional.

Russian IP Legislation: Recent Developments

November 2010 - Intellectual Property. Legal Developments by Baker & McKenzie.

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A series of changes has recently been introduced into the Russian Intellectual Property Law for the purpose of bringing it into line with international agreements – including the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) and the Berne Convention for the Protection of Literary and Artistic Works – and to fulfill the requirements for accession to the World Trade Organization (WTO).

Foreign Investment and Cross-Border Lending Rules to be Relaxed in Ukraine

April 2010 - EU & Competition. Legal Developments by Baker & McKenzie.

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On 14 April 2010 Verkhovna Rada (Ukrainian Parliament) passed in the first reading draft Law of Ukraine No. 6122 "On Introduction of Amendments to Certain Laws of Ukraine on Lending and Stimulation of Foreign Investment" (the "Draft Law"). The purpose of the Draft Law is to remove restrictions to the cross-border lending and foreign investment rules introduced by the Law of Ukraine No. 1533-VI, dated 23 June 2009, "On the Introduction of Amendments to Certain Laws of Ukraine for Overcoming the Negative Consequences of the Financial Crisis" (the "Law No. 1533"), which became effective on 24 November 2009.

Federal Law on Circulation of Medicines Adopted

April 2010 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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On April 12, 2010 the President of the Russian Federation signed the new Federal Law “On the Circulation of Medicines” (the “New Law”) thus completing the procedure of its adoption. The New Law is to replace the existing Federal Law No. 86-FZ “On Medicines” dated June 22, 1998, as amended (the “Law on Medicines”). The initial draft of the New Law attracted a great deal of attention and criticism when it was published on the website of the Russian Ministry of Healthcare and Social Development on July 8, 2009 and a substantially redrafted version was presented to the Russian Parliament on December 26, 2009. Its subsequent review and adoption was quite rapid for a law of this size and complexity. The New Law will come into force from September 1, 2010.

Important changes to certain provisions of the Federal Law “On Personal Data”

March 2010 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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In a continuation of the existing practice of regularly updating our clients about changes in Russian legislation and law enforcement practice, in this legal alert we inform you that the period initially set by the Federal Law "On Personal Data"1 (hereinafter the “Law”) for bringing personal data information systems into compliance with the requirements of the Law has been moved from 1 January 2010 to 1 January 2011. Also, changes have been made to the Law concerning the requirements for personal data information systems.

Russia to Adopt New Transfer Pricing Rules by Q3 2010

March 2010 - Tax & Private Client. Legal Developments by Baker & McKenzie.

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The Russian government has been working on new transfer pricing rules for several years, but now businesses can realistically expect that rules, with heavy documentation requirements for taxpayers, will be adopted this year.

Tax Reforms Towards the Creation of an International Financial Center in Russia

February 2010 - Tax & Private Client. Legal Developments by Baker & McKenzie.

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In December 2009 the Russian Parliament adopted important changes further promoting the Russian holding companies regime. Starting from January 1, 2011 Russian holding companies will no longer be required to meet the present 500 million ruble threshold for investments made into companies qualifying as “strategic investments” to receive tax benefits.

Rules for Tender Selection of Joint Implementation Projects under Kyoto Protocol

February 2010 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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On October 28, 2009, the Russian Government adopted two enactments concerning joint implementation projects under the Kyoto Protocol to the United Nations Framework Convention on Climate Change (the "Kyoto Protocol") in the Russian Federation, namely:

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

February 2010 - Litigation & Dispute Resolution. Legal Developments by Baker & McKenzie.

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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.

New Rules for Issuing Domestic Secured Bonds In Russia

February 2010 - Finance. Legal Developments by Baker & McKenzie.

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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.

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

January 2010 - Employment. Legal Developments by Baker & McKenzie.

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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.

Kazakhstan Amends Tax Code

January 2010 - Tax & Private Client. Legal Developments by Baker & McKenzie.

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On 16 November 2009, Kazakhstan adopted certain amendments to its Tax Code (the "Tax Amendments"). Most of the Tax Amendments take effect from 1 January 2010. However, some changes are effective retroactively from 1 January 2009. The primary purpose of the Tax Amendments is to keep the current rates of the corporate income tax and the mineral extraction tax until 2012. Another objective is to simplify tax administration and clarify certain provisions of the Tax Code.

Formation of the Customs Union of Russia, Belarus and Kazakhstan

January 2010 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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Russia, Belarus, and Kazakhstan will adopt new unified customs tariff and non-tariff regulations from January 1, 2010, and the Customs Union (the “CU”) of the three countries of the Eurasian Economic Community (the “EurAsEC”) will become a reality. The CU Customs Code (the “Customs Code”) is expected to take effect from July 1, 2010 to regulate the resulting integral customs zone.

Formation of the Customs Union of Russia, Belarus and Kazakhstan

January 2010 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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Russia, Belarus, and Kazakhstan will adopt new unified customs tariff and non-tariff regulations from January 1, 2010, and the Customs Union (the “CU”) of the three countries of the Eurasian Economic Community (the “EurAsEC”) will become a reality. The CU Customs Code (the “Customs Code”) is expected to take effect from July 1, 2010 to regulate the resulting integral customs zone.

Formation of the Customs Union of Russia, Belarus and Kazakhstan

January 2010 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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Russia, Belarus, and Kazakhstan will adopt new unified customs tariff and non-tariff regulations from January 1, 2010, and the Customs Union (the “CU”) of the three countries of the Eurasian Economic Community (the “EurAsEC”) will become a reality. The CU Customs Code (the “Customs Code”) is expected to take effect from July 1, 2010 to regulate the resulting integral customs zone.

New developments in Russian legislation on saving energy and increasing energy efficiency

January 2010 - Projects, Energy & Natural Resources . Legal Developments by Baker & McKenzie.

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Federal Law No. 261-FZ “On Saving Energy and Increasing Energy Efficiency, and on Amendments to Certain Legislative Acts of the Russian Federation” came into force on November 27, 2009 (the “Law”), with certain provisions of the Law taking effect later. Changes to the Tax Code of the Russian Federation, for example, became effective on December 27, 2009, and those to the Code of Administrative Offences of the Russian Federation (the “Administrative Code”) take effect on June 22, 2010.

Changes re Criminal Liability and Prosecution of Tax Crimes

January 2010 - Tax & Private Client. Legal Developments by Baker & McKenzie.

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On December 29, 2009 the RF President signed a law introducing important changes to criminal liability for tax evasion. It is established that a person violating the tax legislation may be relieved of criminal liability if the respective outstanding taxes and penalties connected to a crime are paid to the budget.

Rules for the Reorganization of Commercial Banks in Ukraine Simplified 

December 2009 - Finance. Legal Developments by Baker & McKenzie.

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Starting from 21 December 2009, the rules for the reorganization of commercial banks have been simplified by Resolution No. 683 of the Board of the National Bank of Ukraine (the “NBU”), adopted on 18 November 2009, which introduced amendments (the “Amendments”) to NBU Regulation No. 189 “On the Reorganization of a Bank Pursuant to the Decision of Its Owner”, dated 27 June 2008 (the “Regulation”). The Amendments are aimed at bringing the Regulation into conformity with the latest legislative changes relating to financial recovery of commercial banks and with the requirements of the Law of Ukraine “On Joint Stock Companies” (the “JSC Law”).

Revised Draft of the Law on Circulation of Medicines Prepared

December 2009 - Litigation & Dispute Resolution. Legal Developments by Baker & McKenzie.

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An amended version of the draft Federal Law "On Circulation of Medicines"  was placed on the website of the Russian Ministry of Healthcare and Social Development on December 3, 2009. The initial Draft Law was published on the same website on July 8, 2009, attracting much attention and criticism. Many suggestions were made to improve the initial Draft Law so as to ensure the effective functioning of the Russian pharmaceutical market. 

Ukrainian Parliament Introduces Amendments to a Number of Laws

December 2009 - Litigation & Dispute Resolution. Legal Developments by Baker & McKenzie.

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Ukrainian Parliament Introduces Amendments to a Number of Laws Regarding the Simplification of the Procedure for the Acquisition and Realization of Rights to Land

Development of anti-insider trading and market manipulation legislation in Russia

December 2009 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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Federal Law of the Russian Federation No. 241-FZ of 30 October 2009, "On Making Amendments to the Criminal Code of the Russian Federation and Article 151 of the Criminal Procedural Code of the Russian Federation" ("Law No. 241") was published on November 3, 2009.

New Anti-Crisis Legislation Tightens Up Ukrainian Currency Control Rules

November 2009 - Finance. Legal Developments by Baker & McKenzie.

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Law of Ukraine No. 1533-VI, dated 23 June 2009, "On the Introduction of Amendments to Certain Laws of Ukraine for Overcoming the Negative Consequences of the Financial Crisis" (the "Law") became effective on 24 November 2009. The Law introduced a number of important changes into the Ukrainian currency control regime in respect of cross-border foreign currency loans from foreign lenders to Ukrainian borrowers; the procedure for foreign investments in Ukraine; and the procedure for settlements under export-import transactions.

Priority registration of domain names in the new .РФ (.RF) Cyrillic domain

November 2009 - Intellectual Property. Legal Developments by Baker & McKenzie.

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Owners of trademarks and service marks registered in the Russian Federation will be able to obtain priority domain name registrations in the new Cyrillic .РФ domain and avoid cybersquatting, but this advantage may extend to owners of trademarks in Cyrillic only

Management of commodity debt – minimizing risks of non-payment for and loss of goods

November 2009 - Finance. Legal Developments by Baker & McKenzie.

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The economic crisis is presenting business with new challenges, including large-scale non-payment and the financial instability of partners. In conditions of a sharp decrease in access to bank credits and reduced financial resources the risk of losing property rights to goods and the risk of untimely or partial payment for goods delivered has become a serious problem for many suppliers. Such risks can and must be controlled.

New Bankruptcy Rules. What a CEO Needs to Know?

November 2009 - Finance. Legal Developments by Baker & McKenzie.

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This legal alert discusses the liability of the management, the shareholders and controlling persons of a debtor organization under the new bankruptcy rules.

New Rules for the Joint Implementation Mechanism under Article 6 of the Kyoto Protocol in Russia

November 2009 - Projects, Energy & Natural Resources . Legal Developments by Baker & McKenzie.

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On October 28, 2009, the Russian Government adopted two new enactments relating to the development of joint implementation projects under the Kyoto Protocol to the United Nations Framework Convention on Climate Change  in the Russian Federation.

Azerbaijan Promotes Export of Oil and Gas Infrastructure and Expertise

November 2009 - Projects, Energy & Natural Resources. Legal Developments by Baker & McKenzie.

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On April 17, 2009, Law No. 766-IIIQ of the Republic of Azerbaijan, On Application of Special Economic Regime to Export Oil and Gas Operations, dated February 2, 2009 (the “Law”), was promulgated. It is understood that the Law is issued in an attempt by the Republic of Azerbaijan to promote exportation, especially, to the Caspian littoral states, of oil and gas infrastructure and expertise accumulated in Azerbaijan over the past years. On November 1, 2009, Decree of the President of the Republic of Azerbaijan, On Providing for Implementation of the Law, dated October 30, 2009, was promulgated.

UZBEKISTAN RESTRICTS UNAUTHORIZED PRODUCTION, SALE AND IMPORT OF MEDICINES

November 2009 - Litigation & Dispute Resolution. Legal Developments by Baker & McKenzie.

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On 17 September 2009, Uzbekistan adopted amendments to the Law “On Medicines and Pharmaceutical Activity” of 25 April 1997, as amended (the “Law on Medicines”), and corresponding amendments to the “Criminal Code” of the Republic of Uzbekistan of 22 September 1994, as amended (the “Criminal Code”), to the “Criminal Procedure Code” of the Republic of Uzbekistan of 22 September 1994, as amended (the “Criminal Procedure Code”), and to the Code of the Administrative Responsibility of the Republic of Uzbekistan of 22 September 1994, as amended (the “Administrative Responsibility Code”).

Ukraine: Restrictions To Be Imposed on Prices for Imported Pharmaceuticals

October 2009 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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On 20 October 2009, the Ukrainian Parliament approved in final reading the Law on the Moratorium on the Increase of Prices for Pharmaceuticals and Medical Products.

Russia Proposes Securitisation Law for the Domestic ABS Market

September 2009 - Finance. Legal Developments by Baker & McKenzie.

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The Russian Federal Service for Financial Markets (“FSFM”) has prepared two draft laws to amend existing legislation in order to facilitate the domestic securitisation of assets in Russia and the taking of security over receivables and bank accounts (the “Draft Securitisation Law”). The Draft Securitisation Law was submitted to the State Duma on 1st September.

Pharmaceuticals - Legal Alert

September 2009 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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Russian Government Introduces Important Amendments into the Rules on Pricing of Medicines

Fresh Measures to Save the Ukrainian Banking System

September 2009 - Finance. Legal Developments by Baker & McKenzie.

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On 24 July 2009 the Verkhovna Rada (Ukrainian parliament) passed the Law of Ukraine No.1617-VI “On Introduction of Amendments to Certain Legislative Acts of Ukraine Regarding Peculiarities of Carrying out Measures Aimed at the Financial Recovery of Banks” (the “Law”).

Changes to Russian Competition Legislation

September 2009 - Litigation & Dispute Resolution. Legal Developments by Baker & McKenzie.

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Numerous changes to Russian competition legislation came into effect in August 2009.The changes significantly expand the application of the Law and clarify the competence of the Russian Federal Antimonopoly Service (the "FAS"), alter the dominant position rules, the concept of "monopolistically high" and "monopolistically low" prices, introduce significant changes to the provisions dealing with vertical agreements, raise the thresholds that trigger the requirement for clearance of acquisition transactions through FAS, set the period for institution and consideration of cases on violation of antimonopoly legislation, and also otherwise augment and clarify various legislative acts in the area of antimonopoly regulation.

Belarus Amends its Investment Legislation

September 2009 - Finance. Legal Developments by Baker & McKenzie.

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On 6 August 2009, the President of the Republic of Belarus signed Decree No. 10 On the Creation of Additional Conditions for Investing in Belarus. An investment contract is one of the ways of investing in the Republic of Belarus and enables an investor to obtain State support for an investment project and a waiver of sovereign immunity from suits, cautionary judgments, and enforcement of judgments and/or arbitration awards. Decree No. 10 introduces a new procedure for entering into investment contracts. It allows investors to be granted preferences and privileges under investment contracts, in addition to those granted under existing legislation, and also regulates the privileges to be granted to investors automatically upon execution of investment contracts.

Belarus Trademark Law Amended

August 2009 - Intellectual Property. Legal Developments by Baker & McKenzie.

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On July 15, 2009 Belarus passed the Law on the Introduction of Amendments to the Law of Republic of Belarus on Trademarks and Service Marks, which comes into force on January 25, 2010. The rationale behind the amendments is to bring Belarusian law in line with European countries’ laws - to facilitate eventual accession of the country to the WTO, and also to reflect new developments in case law.

Russia: Social Contributions Replace Unified Social Tax

August 2009 - Tax & Private Client. Legal Developments by Baker & McKenzie.

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The law replacing the Unified Social Tax with social contributions will come into effect on January 1, 2010. The Unified Social Tax will completely disappear from the Russian Tax Code and will be replaced by social contributions payable to the State Pension Fund, Social Security Fund, Federal Medical Insurance Fund and Territorial Medical Insurance Fund.

New Rules for Aircraft Operators Making Flights to EC Member States

August 2009 - Projects, Energy & Natural Resources . Legal Developments by Baker & McKenzie.

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The European Community has established a cap-and-trade scheme designed to limit emissions of greenhouse gases into the atmosphere under which aircraft operators conducting aviation activities (operating air flights) will only be entitled to perform flights to/from the EC in the relevant year if they possess the allowances to emit carbon dioxide equivalent during a specified year for them.

Doing Business in Kazakhstan 2009

July 2009 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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Doing Business in Kazakhstan 2009 has been prepared as a general guide for companies operating in or considering investment into Kazakhstan. It is intended to present an overview of the key aspects of the Kazakhstani legal system and regulation of business activities in this country.

Russia State Duma to Speed Up Debt Collection under Loan Agreements

July 2009 - Finance. Legal Developments by Baker & McKenzie.

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On July, 3 the State Duma adopted amendments to the Arbitration Procedure Code. The amendments enable courts to integrate debt claims and counter-claims of borrowers litigating loan agreements into one case. They should significantly speed up debt collection under loan agreements by banks and solve some of the more complicated problems courts have encountered in the economic downturn.

Conducting Business in Ukraine 2009

July 2009 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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This is a general guide for companies operating or considering investments in Ukraine. It gives an overview of key aspects of the Ukranian legal system and the regulation of business activities. 

Kyoto Protocol: New Rules in Russia

July 2009 - Projects, Energy & Natural Resources . Legal Developments by Baker & McKenzie.

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At the end of June 2009, the Russian legal framework on energy efficiency and climate change was supplemented by Russian Government Decree No. 884-r. It  governs the following two carbon trading mechanisms of the Kyoto Protocol to the United Nations Framework Convention on Climate Change (the “Kyoto Protocol”): the so-called “Green Investment Scheme” or “GIS” - under Article 17 of the Kyoto Protocol, and joint implementation (“JI”) - under Article 6 of the Kyoto Protocol. Decree No. 884-r is the first, and to date only, enactment specifically touching upon the carbon trading mechanism under Article 17 of the Kyoto Protocol.

Amendments to Russian Legislation on Joint Stock Companies

July 2009 - Litigation & Dispute Resolution. Legal Developments by Baker & McKenzie.

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The latest amendments to the Federal Law “On Joint Stock Companies”  which came into effect on June 10, 2009 permitting shareholders agreements, are expected to give shareholders greater flexibility in regulating their relations, and to put an end to the practice of Russian courts invalidating shareholders agreements, including those governed by foreign law.

New Rules of State Registration of Licence Agreements

July 2009 - Intellectual Property. Legal Developments by Baker & McKenzie.

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A new legal act issued in Russia has revised the rules applicable to state registration of license agreements and other forms of disposal of rights in the field of intellectual property.

Doing Business in Russia 2009

June 2009 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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Doing Business in Russia 2009 has been prepared as a general guide for companies operating in or considering investment into Russia. It is intended to present an overview of the key aspects of the Russian legal system and regulation of business activities in Russia.

Doing Business in Uzbekistan 2009

June 2009 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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Doing Business in Uzbekistan 2009 has been prepared as a general guide for companies operating in or considering investment into Uzbekistan. It is intended to present an overview of the key aspects of the Uzbek legal system and regulation of business activities in Uzbeksitan.

Kazakhstan Introduces Islamic Finance Law

June 2009 - Finance. Legal Developments by Baker & McKenzie.

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Kazakhstan has promulgated a new law, the Islamic Finance Law,1 intended to broaden the range of finance options available to Kazakhstani companies and to provide a legal framework for Islamic finance in Kazakhstan.

Ukrainian Government Supports Construction Industry

May 2009 - Real Estate & Property. Legal Developments by Baker & McKenzie.

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On 14 January 2009, the Law of Ukraine On the Prevention of the Impact of the Global Financial Crisis on the Development of the Construction Industry and Residential Construction (the “Law”) entered into force. The Law aims at the support of the Ukrainian construction industry, and primarily residential construction, during the recession of the global economy, as well as the creation of more favorable conditions for developers’ activities on the Ukrainian real estate market.

New Licensing Terms for Construction Activity in Ukraine

May 2009 - Real Estate & Property. Legal Developments by Baker & McKenzie.

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On 27 January 2009, the Ministry of Regional Development and Construction of Ukraine adopted new “Licensing Terms for the Performance of Business Activities in the Sphere of Construction Related to the Creation of Architectural Objects” (the “Licensing Terms”). As required by Ukrainian law, the Licensing Terms were registered by the Ministry of Justice of Ukraine on 11 March 2009, and entered into force on 22 March 2009.

Ukraine Amends Regulation of Retail Premises and State Property Leases

May 2009 - Real Estate & Property. Legal Developments by Baker & McKenzie.

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Government allows local authorities to fix price caps for the lease of, and for services provided at retail premises

Ukraine Prohibits Referring Corporate Disputes to Local or International Arbitration

May 2009 - Litigation & Dispute Resolution. Legal Developments by Baker & McKenzie.

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Law of Ukraine № 1076-VI “On Amendments to Some Legislate Acts of Ukraine on the Activity of Local Arbitration Courts and the Enforcement of the Awards of Local Arbitration Courts”, dated 5 March 2009, which became effective on 31 March 2009, prohibits the right of parties to refer corporate disputes to local or international arbitration; rather, such disputes may be decided only by the Ukrainian commercial courts.

Ukraine Expands List of Documents Evidencing Land Rights

May 2009 - Real Estate & Property. Legal Developments by Baker & McKenzie.

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In order to implement changes to the Ukrainian land legislation intended to streamline the land rights registration process, the Ukrainian Parliament passed the Law of Ukraine On Amendments to Certain Ukrainian Legislation Related to Documents Evidencing Land Rights and the Procedure for the Division and Consolidation of Land Plots on 5 March 2009, which will take effect on 1 May 2009

Ukraine Changes Regulation of Motor Road Concessions

May 2009 - Projects, Energy & Natural Resources. Legal Developments by Baker & McKenzie.

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On 15 January 2009, the Ukrainian Parliament adopted Law of Ukraine No. 891-VI “On Amendments to the Law of Ukraine “On Concessions for the Construction and Operation of Motor Roads” (the "Law") which completely restates the earlier Law. The Law was officially published on 31 January 2009, and it became effective as of the date of its official publication.

Ukrainian Parliament Amends Procedures for Local Arbitration

May 2009 - Litigation & Dispute Resolution. Legal Developments by Baker & McKenzie.

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Law of Ukraine № 1076-VI “On Amendments to Some Legislative Acts of Ukraine on the Activities of Local Arbitration Courts and the Enforcement of the Awards of Local Arbitration Courts”, dated 5 March 2009, which became effective on 31 March 2009, significantly amends the established procedures for the resolution of disputes by means of local arbitration.

List of quota-exempt professions for foreigners for 2009 established in Russia

May 2009 - Employment. Legal Developments by Baker & McKenzie.

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According to the order of the Russian Ministry of Public Health and Social Development dated March 24, 2009, the quotas do not apply to such professions as: general director of a joint stock company (association, enterprise), director of a plant (factory, enterprise, firm, representative office), data protection engineer, engineer on automatization and mechanization of production, etc.

Russia Changes Bankruptcy Law to Protect Creditors

May 2009 - Finance. Legal Developments by Baker & McKenzie.

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On 28 April 2009 Federal Law No. 73-FZ “On Amendment of Certain Legislative Acts of the Russian Federation” was adopted, which introduces amendments into the Russian bankruptcy legislation. In response to the growing number of bankruptcy cases and suspected instances of asset stripping prior to and during the bankruptcy process, the legislators have broadened the circumstances under which creditors in a bankruptcy can challenge transactions by the debtor or with respect to the debtor’s assets.

Doing Business in Azerbaijan

April 2009 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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Doing Business in Azerbaijan has been prepared as a general guide for companies operating in or considering investment into Azerbaijan. It is intended to present an overview of the key aspects of the Azerbaijani legal system and regulation of business activities in this country.

Federal Law on Limited Liability Companies

April 2009 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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Translation of the Federal Law on Limited Liability Companies as effective from 1 July  2009

Regulation on the Issuance, Extension, and Annulment of Work Permits for Foreigners

April 2009 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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On 15 May 2009, the new “Regulation on the Issuance, Extension, and Annulment of Work Permits for Foreigners and Stateless Persons” will take effect. The Regulation has introduced a number of other obligations for employers and foreigners working in Ukraine and contains many other nuances that will impact upon the continued ability of foreign citizens to lawfully work or provide services in Ukraine. The Regulation completely abolishes and replaces the earlier regulation for the issuance of Ukrainian work permits and significantly expands the obligations of foreigners and their Ukrainian employers and clients.

Russia: New Rules on Limited Liability Companies

February 2009 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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New rules governing Russia’s limited liability companies, which take effect on July 1, 2009, change the competence of their governing bodies, establish new procedures for the transfer of shares and allow shareholders to enter into shareholder agreements.

Russia Adopts New Anti-corruption Legislation

February 2009 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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On December 30, 2008 the newly adopted Russian anti-corruption legislation (the “Anti-corruption Legislation”) was officially published. Its adoption signals the increased attention of the Russian authorities to issues of corruption, which should eventually lead to an intensification of practicalefforts to eradicate the same.

Russia Adopts New Pledge and Mortgage Legislation

February 2009 - Finance. Legal Developments by Baker & McKenzie.

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On December 30, 2008, Federal Law No. 306-FZ "On Amendments to Certain Legislative Acts of the Russian Federation Regarding the Improvement of Procedures of Pledge Foreclosure" ("Law 306-FZ") was adopted as one of the anti-crisis measures of the Russian Government. The Law 306-FZ introduces a substantial overhaul of the existing regulatory framework of pledges under Russian law. As a result of the passing of this law, banks have obtained new ways of enforcing loans provided to Russian borrowers and secured by pledge under Russian law.

CIS Tax Newsletter January 2009

February 2009 - Tax & Private Client. Legal Developments by Baker & McKenzie.

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The CIS Tax Newsletter is intended to update you on the most recent legislative and case law developments in Azerbaijan, Kazakhstan, Russia and Ukraine and raise hot tax issues which you and your partners may face when doing business in these CIS jurisdictions.

Doing Business in Uzbekistan 2008

September 2008 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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Doing Business in Uzbekistan has been prepared as a general guide for companies operating in or considering investment into Uzbekistan. It is intended to present an overview of the key aspects of the Uzbek legal system and regulation of business activities in this country.

Doing Business in Kazakhstan 2008

August 2008 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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Doing Business in Kazakhstan 2008 has been prepared as a general guide for companies operating in or considering investment into Kazakhstan. It is intended to present an overview of the key aspects of the Kazakhstani legal system and regulation of business activities in this country.

Doing Business in Azerbaijan 2008

May 2008 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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Doing Business in Azerbaijan has been prepared as a general guide for companies operating in or considering investment into Azerbaijan. It is intended to present an overview of the key aspects of the Azerbaijani legal system and regulation of business activities in this country. Click here to read the guide.

Conducting Business in Ukraine 2008

May 2008 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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Conducting Business in Ukraine has been prepared as a general guide for companies operating in or considering investments into Ukraine. It is intended to present an overview of the key aspects of the Ukrainian legal system and the regulation of the business activities in this country. Please click on the link below to read the guide.

Conducting Business in Ukraine 2008

Doing Business in Russia 2008.

April 2008 - Corporate & Commercial. Legal Developments by Baker & McKenzie.

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Doing Business in Russia 2008 has been prepared as a general guide for companies operating in or considering investment into the Russian Federation. It is intended to present an overview of the key aspects of the Russian legal system and regulation of business activities in this country. Read more...