Highlights: On 28 February 2014, the State Council of the PRC issued Decision Regarding Revocation of and Amendments to Certain Administrative Regulations (国务院关于废止和修改部分行政法规的决定) (“Decision”) which came into force on 1 March 2014. The effect of the Decision has been to change the previous paid-up registered capital system for companies incorporated in China (including foreign investment … Continued
Executive Summary Effective at January 30, 2014, Federal Law 423-FZ dated December 28, 2013 ends regulations requiring the subsequent notification of Russian competition authorities of corporate transactions of minor value as well as some intra-group transactions. The amendments to the merger control regulation would have a positive affect the entire Russian M&A market. Main Article … Continued
Executive Summary: The following article Unilateral Conduct: The Competition Commission of India’s Enforcement Priorities analyses the principles and trends enunciated by the Competition Commission of India (“CCI”) in the abuse of dominance cases dealt with by the CCI to date. Main Article: Introduction: Legal Framework The Competition Act, 2002 (“Act”) (as amended) is the principal … Continued
Executive Summary: This third annual edition of Governance Insights presents Davies’ analysis of the corporate governance practices of Canadian public companies over the course of 2013 and the trends and issues that influenced and shaped them. We expect 2014 to be an active year for governance themes with greater calls for diversity on boards, a … Continued
Executive Summary: The Hungarian Competition Authority (“GVH”) amended the documents – including the merger filing form – related to merger control proceedings in the summer of 2013, with the declared aim of further decreasing the administrative burdens placed on market players. Further to the amendments of the merger documents, amendments to Hungary’s Competition Act (“CA”) … Continued
Executive Summary: The Companies Act, 2013 has been highly anticipated and will bring sweeping changes to the extant company law regime. This article covers a general overview of some of the key changes brought about by the 2013 Act. Topics covered include: New and changed key concepts of control, a promoter, a subsidiary company, associate … Continued
Executive summary: The Companies Act, 2013 (“2013 Act”) was expected to simplify life for corporate India, strengthen corporate governance norms and make India an attractive and safe investment destination. Introduced with the objective of consolidating and amending the existing law applicable to companies, the 2013 Act contains 470 clauses as opposed to nearly 700 sections … Continued
Highlights: The Canadian Federal government has introduced proposed (and unanticipated) changes to the Investment Canada Act (“ICA”) to further scrutinize a wider range of state owned enterprise (“SOE”) investments in Canada. It is proposed that the black letter ICA review threshold rules be replaced by a control in fact examinations in determining if ICA should … Continued
Highlights: In January 2013, a supranational organization of 19 African States known as “COMESA” implemented a new and potentially burdensome merger notification regime affecting parties with assets or sales in eastern or southern Africa. Pre-merger notification is required for any merger where either the acquiror or the target operates in at least two COMESA member … Continued
Executive Summary: The European Commission has proposed amendments to the notification forms that companies must complete to report mergers subject to antitrust review in the EU. If adopted, the proposed changes would reduce the amount of information merging parties must provide in transactions that are unlikely to raise competitive concerns. However, for many transactions, the … Continued
