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Austria: Improvement of Austrian Arbitration law in the pipeline

October 2012 - Litigation & Dispute Resolution. Legal Developments by Baier Rechtsanwälte.

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On July 1, 2006 a new arbitration law came into force in Austria. The provisions of the 2006 arbitration law follow the guidelines of the UNCITRAL Model law on international commercial arbitration.

Austria: End of Bearer Shares for unlisted Joint-Stock Companies

October 2012 - Finance. Legal Developments by Baier Rechtsanwälte.

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Holders of bearer shares of Austrian joint-stock companies are not registered in any public register whereas registered shares must state the shareholders´ name. The Financial Action Task Force (FATF) on Money Laundering criticised in its report of 1 December 2009 the lack of transparency in connection with the holding of bearer shares in Austrian joint-stock companies.

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