The Reserve Bank of India (RBI) on August 31, 2018 notified the Foreign Exchange Management (Establishment in India of a branch office or liaison office or a project office or any other place of business) (Amendment) Regulations, 2018 (Amendment Regulations).
Monthly Archives: January 2019
In a timeous reminder of the importance of adhering to court deadlines, in BMCE Bank International Plc v Phoenix Commodities PVT Ltd & Anor the court refused an application for relief from sanctions where a costs budget was served late a consequence of which the defaulting party was to be limited to only recovering court fees in the event of success at trial. This was despite an undertaking by the defaulting party’s solicitors to cover both parties’ costs on an indemnity basis for the CCMC and a further CCMC if required, regardless of the outcome of those hearings.
We’re almost through a full month in 2019 – are you still feeling fresh and inspired about the new year? Or are you feeling bogged down by your routine and flagging resolve already?
In Bernstein v. Virgin America, Inc., a district court in California has ordered Virgin America to pay more than $77,000,000 in damages, restitution, interest and penalties for a variety of violations of the California Labor Code. The award is the latest example of the tremendous amount of damages and penalties that can be awarded for non-compliance with California’s complex wage and hour laws.
The EU and Japan have today announced a new personal data adequacy agreement between the two parties. This agreement will allow personal data to flow freely between the two parties on the basis that there are strong protective guarantees in place.
‘Practical Completion’ (PC) plays an important role on construction projects, often signifying the release of retention monies, ending the contractor’s liability for liquidated damages, commencing the defects liability period and passing possession of the works to the employer. The term is almost universally used in the construction industry, yet, despite its significance, is not legally defined and is readily left undefined in building contracts. What then does the term PC actually mean? This question was recently considered in Mears v Costplan.
The general meeting of a company can now lawfully amend its previously adopted resolutions. This is especially good news for those shareholders who wish to withdraw extra dividend from their subsidiary mid-year.
Due to an EU directive adopted last year, certain rules on corporate tax are changing with effect from 2019 – including the provisions on interest deduction due to “thin capitalisation.” Although the purpose of the directive was to defeat tax avoidance and tighten up the tax regulations, the new rules on interest deduction are actually becoming more of a blessing than a curse for businesses in Hungary.
Some important issues have been clarified at the Royal Commission into Aged Care Quality & Safety’s first hearing, held in Adelaide on 18 January. The Commission has confirmed that Approved Providers need to make themselves available and cannot prevent witnesses from attending the Commission. The Commission will be issuing notices to produce or provide information soon and Approved Providers need to start preparing now.
Several key changes in employment law have taken place over the period from the end of last year to now, particularly with regard to the rights and obligations associated with casual employment and NES entitlements. Employers need to be aware of these changes and how they impact on their current workplace practices and policies.