Myanmar Directorate of Investment and Company Administration (DICA) says nominee directors and nominee shareholders will not be allowed
According to the Section 462, Sub-section (a) (ii) of the Myanmar Companies Law, DICA announced a directive no.7/2023 on 17 January 2023, stating that nominee directors and nominee shareholders will not be allowed.
What to pay attention to when incorporating a company in Romania according to the new amendments of the Law regarding the Romanian Trade Register as of December 2022
The end of 2022 brought substantial changes by means of Law no. 265/2022 regarding the Romanian Trade Register and for amending and supplementing other normative acts with an impact on the registration in the Trade Register in Romania. Among the amendments that you shall need to pay attention to when you register a company in …
THE BRAZILIAN FEDERAL SUPREME COURT (STF) AND THE SUPERIOR COURT OF JUSTICE (STJ) CHALLENGE THE UNDERSTANDING FOR ANULMENT DUE TO LACK OF JURISDICTION IN THE LULA CASE
On March 8th, 2021, when considering the Motions for Clarification in the Writ of Habeas Corpus (HC) No. 193,726, the honorable Supreme Court Justice Edson Fachin, in a paradigmatic decision, granted the constitutional remedy in favor of President Luiz Inácio Lula da Silva (who at the time did not occupy this position) to “declare the …
The New Restriction: Combining Personal Data under the EU’s Digital Markets Act and Turkey’s Data Protection Legislation
European Union’s (“EU”) Digital Markets Act (“DMA”) entered into force on 1 November 2022. The DMA rules apply to the providers of certain pre-defined core platform services that qualify as “gatekeepers”. Most of the provisions will be applicable as of 2 May 2023 when the gatekeeper designation procedure will start. Thereupon, providers designated as gatekeepers …
“Shop Dee Mee Kuen” Offers 2023 Tax Deduction in Thailand up to 40,000 THB
According to a ministerial regulation (No. 386) issued on December 29, 2022, and a notification from the Director-General of the Ministry of Finance, a person liable to personal income tax (other than an ordinary partnership or non-juristic body of persons) is entitled to an income tax deduction under the “Shop Dee Mee Kuen 2023” program …
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Malaysian Personal Data Protection Act 2010: Does It Apply to Government Agencies?
Section 3(1) of Personal Data Protection Act 20101 (“the Act”) provides that “This Act shall not apply to the Federal Government and State Government”. So, what do Federal Government and State Government mean in this context? Section 3 of Interpretation Acts 1948 and 19672 (“IA 1948 and 1967”) then defines the Federal Government as the …
Ship Arrest and the Malaysian Admiralty Court
Maritime cases often involve issues of international law. The carriage of goods across nations separated by sea is often done by shipping lines of various nationalities. For instance, goods exported from Korea to Malaysia may be carried by a Japanese shipping line. Issues of international law abound when the sales contract apply Korean law and …
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Strategic Management of Your Inbound Mergers & Acquisitions Exercise in Malaysia
Mergers & acquisitions (“M&A”) exercises are part of a business strategy whereby two companies consolidate to become one entity (in case of a merger) or one company (or individual) purchases assets of or shares in, another company (in case of acquisition). Although the COVID-19 pandemic has strongly disrupted Malaysia’s economic environment, the long-term effects of …
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Points for Consideration of the Buyer in Due Diligence for Oil & Gas Upstream Assets Acquisition
‘Caveat Emptor: let the buyer beware’ is one of the settled maxims that applies to any buyer who is bound by actual and constructive knowledge of any deficiency in any asset to be purchased. The historical application of Caveat Emptor gave rise to the need for the potential buyer to conduct due diligence and be …
Addressing Climate Change in Your Business
On 30 April 2021, the Bank Negara Malaysia issued a guidance document on Climate Change and Principle-based Taxonomy (“CCPT”). CCPT introduces the guiding principles (GPs) intended to help financial institutions (FIs) assess and categorise economic activities (i.e. business activities) according to the extent to which they meet climate objectives and promote the transition to a …
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