Netting arrangements in Qualified Financial Contracts made enforceable
Federal Decree-Law 10 of 2018 on Netting (the Netting Law) was published in the UAE Federal Gazette on 30 September 2018 and will take effect on 30 October 2018 (the Effective Date). It is a significant development to the derivatives framework in the UAE, in terms of both the legal enforceability of such arrangements and the …
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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 …
Employment & Benefits
Update of the Social Support Indexation (IAS)’s value It was published in the National Official Journey the Decree no. 21/2018 updating the annual Social Support Indexation (IAS)’s value, which is now € 428.90.
Regulations On Abandonment And Decommissioning Of Upstream Oil And Gas Facilities
Presidential Decree 91/18, of 10 April 2018 (“PD 91/18”) enacted the regulations on abandonment and decommissioning of upstream oil and gas facilities located in Angola. Below you will find an overview of PD 91/18.
Anti-money Laundering And Combating Terrorist Financing
On 26 September 2018, the Bank of Portugal issued Notice no. 2/2018 (“Notice 2/2018”), which sets out the conditions for compliance with the prevention of money laundering and combating terrorist financing (“AML/CTF”), complementing Law no. 83/2017 (“Law 83/2017”), regulating the means and mechanisms necessary for financial entities to comply with the duties set forth in …
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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 25 May 2018 (the “Communication”). Simultaneously, the Commission has also published a set of GDPR-related Q&A and …
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Beware Of Rpm – Commission Issues Fines For Online Resale Price-fixing
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 practices restricted online …
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New Basic Regulation On Common Rules In The Field Of Civil Aviation
NEW BASIC REGULATION ON COMMON RULES IN THE FIELD OF CIVIL AVIATION AND ESTABLISHING A EUROPEAN UNION AVIATION SAFETY AGENCY On 11 September 2018 came into force the new Basic Regulation – Regulation (EU) 2018/1139 of the European Parliament and of the Council of 4 July 2018 on common rules in the field of civil …
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Conversion Of Credits Into Capital In Companies With A Minimum Turnover Of €1 Million
Law no. 7/2018, of 2 March 2018 was published last Friday, establishing a new legal framework for conversion of credits into capital. Approved as part of the Programa Capitalizar (Capitalize Program) and effective as of 3 March, the Act affords companies and their creditors an extrajudicial recovery and restructuring avenue to act swiftly with regard …
Programa Capitalizar (capitalize Program) – Extrajudicial Framework For Business Recovery
Law no 8/2018, of 2 March 2018 was published last Friday, establishing the Regime Extrajudicial de Recuperação de Empresas (Extrajudicial Framework for Business Recovery) (“RERE”), which is effective as of 3 March 2018.