TIMOR-LESTE| SECOND AMENDMENT TO THE PETROLEUM ACT
By Law 6/2019, of 4th December 2019, the National Parliament approved a second amendment to the Petroleum Act (Law 13/2005, of 2 September 2005, as amend by Law 1/2019, of 18th January 2019), which entered into force on the 5th December 2019.
ANGOLA| APPROVAL OF NEW FOREIGN EXCHANGE POLICIES AND PRICING OF TRANSACTIONS IN FOREIGN CURRENCY
A series of Notices have been approved by the National Bank of Angola (Banco Nacional de Angola) to ensure transparency and balance of the foreign exchange market, the protection of consumer rights of financial services and products, as well as strengthening the process of standardisation of the foreign exchange market, having also been introduced the …
SECURITISATION LEGAL FRAMEWORK
Law no. 69/2019, of 28 August (“Law”), was published yesterday in the Official Gazette of the Portuguese Republic. The Law provides for the execution in the Portuguese jurisdiction, of Regulation (EU) 2017/2402 of the European Parliament and of the Council of 12 December 2017 (“Regulation”), which lays down a general framework for securitisation and creates …
Angola | Amendments To The Legal Framework Governing Registration
ANGOLA | AMENDMENTS TO THE LEGAL FRAMEWORK GOVERNING REGISTRATION WITH AND CONTRIBUTIONS TO THE MANDATORY SOCIAL SECURITY SYSTEM Presidential Decree 227/18, of 27 September 2018, which will come into force on 27 December 2018, repealed Decree 38/08, of 19 June 2008, and significantly amended the Legal Framework governing Registration with and Contributions to the Mandatory …
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Mozambique Environment
MOZAMBIQUE: ENVIRONMENT | NEW REGULATION ON THE EXTENDED RESPONSIBILITY OF PRODUCERS AND IMPORTERS OF PACKAGING On 29 December 2017, Decree 79/2017, of 28 December 2017, approving the Regulation on the Extended Responsibility of Producers and Importers of Packaging (the “Regulation”), came into force. The Regulation’s objective is the adoption of principles, rules and guidelines to …
Competition Authority Created In Angola
January 2019 On 21 December 2018, Presidential Decree 313/18 approving the bylaws of the Angolan Competition Regulatory Authority (“CRA”) was published, putting in place the last piece of the Angolan competition law regime. The decree completes the Angolan Competition Act (“ACA”), of 10 May 2018 (see Flash here), and the corresponding Regulation, approved by Presidential …
Angola | Value Added Tax
25 January 2019 The Angolan National Assembly approved a bill enacting the new Value Added Tax (“VAT”) Code. The approved VAT model is a multi-stage tax that encompasses the entire economic chain. Inspired by the European VAT model, the new tax should replace the current Consumption Tax as well as bring about a few adjustments …
Beware Of Rpm – Commission Issues Fines For Online Resale Price-fixing
July 31, 2018 On 24th July 2018, the European Commission (EC) issued four decisions fining Asus, Philips, Denon & Marantz and Pioneer, for a total of 111 million EUR, for fixing or establishing minimum resale prices on online retailers, a commercial practice also known as resale price maintenance (RPM). According to the EC, such RPM …
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Privacy, Data Protection & Cybersecurity
19 February 2018 COMMISSION COMMUNICATION – GUIDANCE ON THE DIRECT APPLICATION OF THE GENERAL DATA PROTECTION REGULATION The European Commission (the “Commission”) has issued, on the 24 January, a Communication containing guidance in view of facilitating the direct application of the General Data Protection Regulation (“GDPR”) in all the European Union (the “EU”) as of …
Mozambique | Spectrum Auction
The Mozambique Government has recently published in the Official Gazette Resolution no. 12/2018, of April 25, determining the authorisation for the launch of an auction procedure for the grant of rights of use of radio frequencies in the 800MHz, 1800MHz and 2600MHz bands. The base bidding prices shall be set by a Joint Order to …