What is the spin-off procedure for a company in Romania?
According to the Romanian Law 31/1990 on companies, when a company creates a new independent company by selling or distributing new shares of its existing business, this is called a spin-off procedure in Romania. A spin-off procedure in Romania is realized when the assets are transferred in totally or in part to a new or …
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What is the procedure for amending the zonal urban plan (PUZ) in Romania?
The zonal urban plan (PUZ) in Romania is an important tool for the urban development of an area, containing detailed information about all the functions of the area, such as housing, green spaces in Romania, public institutions, services, etc. Through the zonal urban plan (PUZ) in Romania, a coherent and integrated urban development of the respective area is ensured in Romania, in …
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Interaction with HCPs: Is it Awareness or Advertisement Activity?
In this article, we have attempted to provide some respite to the age-old debate between the legal and marketing heads of the MedTech companies in respect of how to classify the activities /interactions with healthcare professionals (HCPs), whether these are awareness or advertisement activities. For MedTech companies, their consumers are either hospitals or the retail …
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THE FEAR OF THE SUO MOTO
On March 31st 2023 the upper house of the Parliament of Pakistan passed one of its most important legislatures. The Supreme Court (Practice and Procedure) Bill 2023 was passed unanimously by the Senate after having been passed by the National Assembly a day earlier.
The Dilemma Surrounding Payment of Statutory Dues under Resolution Plans
Statutory Dues under the provisions of the Insolvency and Bankruptcy Code, 2016 (IBC) are indeed Operational Debts and as Operational Creditors the Statutory Authority are in effect kept out of the decision making process in the insolvency resolution process. The resolution process under IBC culminates in either approval of a Resolution Plan or Liquidation. Approval …
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KFTC Proposes to Enhance Investigation and Deliberation Procedures
KFTC issues advance administrative notice on amendments to Investigation and Case Handling Procedures and on enactment of Guidelines for Filing Objections
Guiding Trustees: Indemnities on a change of trustees
Chapter 1 – Fundamental principles and changing over trustees A trustee’s right to indemnity – and particularly that of a former trustee’s right to indemnity vs. a new trustee – hit the legal headlines recently in Equity Trust (Jersey) Ltd v Halabi; ITG Ltd v Fort Trustees Ltd [2022] UKPC 36 (Halabi).
PREVENTION OF MONEY LAUNDERING (MAINTENANCE OF RECORDS) AMENDMENT RULES, 2023
The Prevention of Money Laundering Act, 2002 (PMLA) is a crucial legislation in India aimed at preventing money laundering and terrorist financing. The PMLA mandates financial institutions, banking companies, and intermediaries to maintain records of their client’s transactions and conduct due diligence to prevent money laundering. On 7th March 2023, the Ministry of Finance, Department …
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ON THE CONSTITUTIONAL LEGITIMACY OF A FIXED ADMINISTRATIVE SANCTION TO PROTECT THE NAMES OF ORIGIN OF AGRICULTURAL AND FOOD PRODUCTS.
Constitutional court, March 10, 2023, no. 40 In this ruling, the Italian Constitutional Court assessed the constitutionality of administrative sanctions imposed for violations of rules protecting products with designation of origin (DOP) and geographical indication (IGP). Specifically, the Court declared the unconstitutionality of Article 4, paragraph 1, first sentence, of Legislative Decree No. 297 of …
The Turkish Competition Authority Fines Elon Musk due to Failure to Notify the Twitter Deal
On 06.03.2023, the Turkish Competition Authority (“TCA”) announced its decision to fine Elon Musk due to failure to notify the $44 billion deal to acquire Twitter. The TCA’s reasoned decision is not available for the time being but English version of the TCA’s announcement in terms of the fining decision reads as following: