Search results for

By handing down three decisions on voting-right limitations for privatized companies, the European Court of Justice (ECJ) has made a sophisticated judgment of special voting rights in the proceedings brought by the EU Commission.

A direct link (e-link) between the central securities depositories of Finland and Sweden was opened on June 3 2002. The Finnish Central Securities Depository has similar links with Germany, France and the Netherlands and a link to Switzerland through Germany.

Various mergers, particularly in the media and food retailing markets, have caught the public eye over the past few years and drawn attention to various weak points in Austria's cartel and competition laws. The Austrian Parliament has responded by passing amendments to both the Cartel Act and the Competition Act and these will take effect on July 1 2002. According to the legislator, the new regulations are expected to enhance the attractiveness of Austria to both national and international investors.

Since the implementation of Council Directive 92/50/EEC of June 18 1992 relating to the coordination of procedures for the award of public service contracts (the Directive), the public procurement rules also apply to financial services with the exception of central bank and financial services that relate to the issuance, sale, purchase or transfer of securities and other financial instruments.

This year, many significant amendments have been made to the Commercial Code. The latest amendments were promulgated on May 29 2002 and will take effect sometime within a year after this date. One of the amendments will allow class voting for the election of directors.

Intellectual property in literary, dramatic or musical works in India is protected under the Copyright Act, 1957. With the development of the entertainment industry and competition between entertainment channels for a larger share of the Indian market, copyright issues have assumed greater significance in the entertainment industry. Although, no copyright exists for ideas, concepts or themes that are sufficiently developed so they could be realized as a television programme, are capable of being the subject of confidential information. Protection available to such ideas or concepts under the Copyright Act may vary depending on whether or not the concept as developed and evolved is the result of the work done by the person who conceived the original idea by applying some novel thoughts which distinguishes it from simple ideas.

In January 2002 the Mexican Federal Congress passed legislation making substantial changes to the country's tax structure and introducing new rules for foreign or non-Mexican residents. This new legislation removes the many different withholding rates applicable to non-residents that in the past had led to tax avoidance, by reconsidering the nature of the income in question. The new legislation introduces a sole 25% withholding rate for most types of taxable income on a gross basis and reduces to 35% the tax imposed on non-residents that elect to be taxed on a net income basis. For 2003, 2004 and 2005, this rate will be reduced to 34%, 33% and 32% respectively. Although significant amendments were introduced by this new legislation, this article will only cover two of the most widely applied rules, the sale or disposition of shares and interest.

Austria has always had closer ties with eastern Europe than many of its fellow EU members. But these links are forcing Austria’s law firms to make a difficult choice between east and west. Michael Evans reports

Recent SEC actions show it is not just the energy industry that is coming under the Commission’s fire for manipulating earnings reports. Neil Golden of Chadbourne & Parke, Washington DC, explains why technical compliance with GAAP may no longer be enough

Last year’s legal reforms promised great things for the German market. Thomas Williams reports from Frankfurt where lawyers are now desperate for a long-expected recovery