The Budget Supplementary Act 2011, passed by the end of 2010, foresees the introduction of a withholding tax on capital gains that are realized regarding securities as of October 1, 2011.

The EU Consumer Credit Agreement Directive (2008/48/EC) was implemented in Austria through the enactment of a new federal Consumer Credit Act.

A glance at the website of the Austrian Federal Competition Authority confirms that private equity investors do not always observe competition law. Sanctions for non-compliance with competition law range from fines to ineffectiveness of the complete transaction.

In the context of secured financings, lending banks often require a pledgor to issue a sale power of attorney for the asset pledged (ie, shares, real property or other assets).

The plaintiff in Case 1 Ob 38/03z -a banking corporation under Egyptian law with a Jordanian branch (the issuing bank)- has a long-standing business relationship with a Jordanian company. This Jordanian company ordered sanitary equipment from an Austrian company.

On September 27, 2011 the ministerial legislative proposal for the Budget Supplementary Act 2012 (Draft-BBG 2012) was published.

Austrian law expressly recognises and protects a bank's duty of confidentiality (sometimes referred to as 'bank secrecy') with respect to information received by or relating to its customers. This duty is primarily governed by s 38(1) to (4) (scope and exceptions) and s 101 (criminal liability) of the Banking Act (BWG) and supplemented by several provisions of a procedural nature such as the Revenues Penal Code and the Criminal Procedure Code.

Austrian law expressly recognises and protects a bank's duty of confidentiality (sometimes referred to as 'bank secrecy') with respect to information received by or relating to its customers. This duty is primarily governed by s 38(1) to (4) (scope and exceptions) and s 101 (criminal liability) of the Banking Act (BWG) and supplemented by several provisions of a procedural nature such as the Revenues Penal Code and the Criminal Procedure Code.