NEW RULES FOR NON-PERFORMING EXPOSURES SECURITISATIONS AND SYNTHETIC SECURITISATIONS
Regulation (EU) 2021/557 and Regulation (EU) 2021/558, both of 31 March 2021, approved relevant amendments to the Securitisation Regulation and to the Capital Requirements Regulation, respectively, which entail material adjustments to the securitisation framework and are intended to support the economic recovery in response to COVID-19 crisis.
WILL PRE-PACKS ARREST THE DELAYS AND SPEED UP DISTRESSED DEALS IN INDIA?
India has recently enacted the Insolvency and Bankruptcy (Amendment) Ordinance, 2021 (Ordinance), under which the pre-packaged insolvency process (“PPIP”) for MSMEs with a default of up to INR10,000,000 (Indian Rupees Ten Million) has been made effective. Further, the Ministry of Corporate Affairs has notified the minimum amount of default to trigger the PPIP under the …
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New regime of broadcasting rights regarding the Portuguese professional football leagues
On 23 March 2021, the new legal regime regarding the ownership of broadcasting rights of the 1st and 2nd football leagues came into force (Decree-Law no. 22-B/2021, of 22 March).
Portugal – Measures in response to COVID-19 Extension of time limits
Following the measures that have been imposed in order to prevent the spread of COVID-19, Decree Law no. 22-A/2021 was published, on March 17, with the aim of extending certain time limits and establishing exceptional and temporary measures.
Transitional regime applicable to the provision of financial services by United Kingdom based entities
On 23 December 2020, the Portuguese Government enacted Decree-Law no. 106-/2020, approving the transitional regime applicable to the provision of financial services by United Kingdom based entities. The regime enters into force on 1 January 2021 if, on that date, no agreement (or equivalent decision) has been reached between the European Union and the United Kingdom …
Sao Tome and Principe LEGAL REGIME FOR THE MINING AND EXTRACTION OF AGGREGATES
On the 22nd September 2020, was published the Law 9/2020, which approved the Legal Regime for the Mining and Extraction of Aggregates (“RJEEI”), defining the condition under which such mining and extraction is allowed in the national territory.
Angola Mining – CORPORATE Social Responsibility in lunda SOUTH province
The Lunda South Provincial Government released a memorandum voicing the intentions of his Government and Endiama – E.P.’s Board of Directors in relation to corporate social responsibility (“CRS”) actions to be implemented (“Memorandum”).
Angola The New Local content legal Framework for the oil & gas industry
Presidential Decree 271/20, of 20 October 2020 (“PD 271/20”), approved the new legal framework for the promotion of local content in the oil and gas industry, expressly repealing Ministry of Petroleum Order 127/03, of 25 November 2003 (“Order 127/03”).
MOZAMBIQUE – New Regulations on the Licensing of Petroleum Facilities and Operations
By means of Decree No. 84/2020, of 18 September, the Government of Mozambique has approved the new regulations on the licensing of petroleum facilities and operations. This new Decree, which is part of an ongoing reform in the O&G sector, although not expressly revoking Ministerial Order No. 272/2009, of 30 December (Regulations on Licensing of …
ANGOLA | 2021 STATE BUDGET
The 2021 State Budget, approved by Law 42/20, of 31 December 2020, has been recently published. The diploma entered into force on 1 January 2021.