Increasingly positive steps have been taken toward reaching a global deal on climate change in the lead up to the UN-brokered climate summit currently underway in Cancun, Mexico. Hillary Clinton’s recent visit to the South Pacific, as well as regional initiatives such as the Kiribati climate summit and the Pacific Catastrophe Risk Assessment meeting, have been encouraging and may signal the starting point to brokering a multi-national positive declaration on climate change in Cancun.

Are you ready for the implementation of the PPS Legislation?

The establishment of a Central Bank demonstrates that East Timor is putting in place a financial and economic structure.

Pacific Island countries like Vanuatu, Solomon Islands and Tonga ("Pacific PPS Countries") already have PPS legislation.

The Fiji Government engaged external consultants who are undertaking a review of the Companies Act (Cap.247) (Fj) and the Registration of Business Names Act (Cap.249) (Fj), and related laws and regulation recently conducted stakeholder consultations in Fiji.

The Trademarks Act 2003 (Vanuatu) transforms the entire trademark registration system in Vanuatu.

Fiji has introduced a capital gains tax.

The OECD Global Forum's peer review process is now underway to check the progress of implementation of the International Tax Standard

The Australian Treasurer recently announced reforms to Australia’s Foreign Investment review framework in order to improve Australia’s competitiveness and appeal to overseas investors.

The PPSA impacts on the taking, registration and enforcement of security over almost all kinds of property, except land.

Various jurisdictions in the Pacific are undergoing law reform in the corporate law field. In most instances the redrafting of previously outdated legislation goes hand in hand with updating the manner in which corporate documents are held and retrieved at the various companies offices’ registries.

Vanuatu continues to reaffirm its commitment to implement the internationally agreed tax standard set by the OECD(1) Global Forum on Transparency and Exchange of Information for Tax Purposes (Global Forum). Last month Vanuatu entered into seven tax information exchange agreements (TIEAs) with Denmark, Finland, Iceland, Norway, Sweden, Greenland and the Faroes Islands. The Vanuatu Government also recently amended the International Companies Act [Cap 222] (Vanuatu) (Act) to require that all beare

The Australian Government recently updated its foreign investment policy (FI Policy), which will be applied by the Foreign Investment Review Board (FIRB) when reviewing investment proposals. This article highlights the key changes to the FI Policy relating to investments by State-Owned Enterprises (SOEs).

PPSA: Frequently asked questions on Romalpa and Retention of Title clauses.

The PPS reforms essentially change the law relating to how security interests are formed and enforced, how priority disputes are to be resolved where more than one security interest is given over the same property and when a security interest can be extinguished (against the wishes of the secured party).

On 15 April 2010, the National Parliament of the Solomon Islands passed the Money Laundering and Proceeds of Crime (Amendment) Act (Amendment Act) which amends the Money Laundering and Proceeds of Crime Act 2002 (MLPCA). The Amendment Act brings Solomon Island’s legislation in line with the Financial Action Task Force recommendations to combat money laundering and terrorist financing (FATF Recommendations).

The Personal Property Securities Act 2009 (Cth) (Act) and the Personal Property Securities (Consequential Amendments) Act 2009 (Cth) (Amendment Act) are expected to commence in May 2011. The Act creates one national system for the creation, registration and perfection of security interests in personal property, bringing together the Commonwealth, State and Territory regimes currently in place. The Amendment Act will ensure that any other legislation in effect is compatible with the new system.

In previous issues of PLN Bank Note, PLN reported on the landmark case between the United States and UBS which resulted in a settlement agreement reached between the parties in August 2009 (Settlement Agreement) which provided for the disclosure of information concerning 4450 US account holders1 and an annexed agreement between the two governments (Governmental Agreement). The legal and diplomatic process in obtaining the requested information has been fraught with difficulty and conflicting int

The Government of Fiji has announced its intention to legalise, and enable the development and operation of Fiji’s first casino. The Government has released a document for potential investors wishing to tender for what will be, at least initially, an exclusive licence for the establishment and operation of a casino(1).

The focus of the Major Players has in recent times centred on transparency and the willingness to exchange taxation information.