Mondaq Business Briefing articles from December 2008

Mondaq Business Briefing archives from December 2008

Non-Charitable Purpose Trusts In The British Virgin Islands.
December 1, 2008... BACKGROUND Historically, with limited exceptions, trusts for purposes rather than beneficiaries were refused recognition by the courts. The principal obstacle to recognition was the trustees' duty to account and the fact that this requires...

Distressed Funds - Synthetic Side Pockets.
December 1, 2008... INTRODUCTION We are seeing many offshore funds go into distress for a variety of reasons, most commonly where liquidity issues have resulted in an inability to meet redemptions. Devising a solution to manage the fund through its...

VISTA Trust Summary - 17th November, 2008.
December 1, 2008... BACKGROUND: THE PROBLEM WHICH THE VIRGIN ISLANDS SPECIAL TRUSTS ACT ADDRESSES The "prudent man of business" rule The trust has always been regarded as one of the best "succession vehicles," but its use to cater for the succession of shares...

Developments In Nigeria's Tax Regime For Gas Utilization Projects.
December 1, 2008... Introduction Nigeria produces about two million barrels of crude oil per day and is ranked as the eleventh1 largest producer in the world. The oil and gas sector accounts for about 60% of government's total revenue and more than 90% of its...

Financing A Share Purchase - Is It That Simple.
December 1, 2008... Prospective investors wishing to buy the assets of a company lock, stock and barrel could buy all of the shares from the seller and there would, ordinarily, be no difficulty in arranging such a transaction. The assets of the company are valued...

CaPP: Private Bank Program.
December 1, 2008... On November 17, 2008, Treasury released a standard form term sheet detailing the terms and conditions of the preferred stock and warrant offerings under the Troubled Assets Relief Program (TARP) Capital Purchase Program (CaPP) for private...

Insurance Companies Adopt Thrift Holding Company Structure To Become Eligible For Treasury Capital Purchase Program And FDIC Liquidity Guarantee.
December 1, 2008... On November 14, the deadline for financial institutions to file an application for the Department of the Treasury's Capital Purchase Program (the "CaPP"), as authorized under the Emergency Economic Stabilization Act of 2008 (EESA), four large...

FDIC Approves Temporary Liquidity Guarantee Program Final Rule.(Federal Deposit Insurance Corporation )
December 1, 2008... On November 21, 2008, the Board of the Federal Deposit Insurance Corporation (FDIC) approved a final rule for the Temporary Liquidity Guarantee Program (TLGP). The final rule provides significant changes from the interim rule, including that...

Marcellus Shale: Material Drinking Water Risks?
December 1, 2008... If natural gas prices continue to fall as a result of the current economic downturn, the rush for a piece of the Marcellus Shale action may also subside. After all, the long-known deposits of natural gas in the Marcellus Shale region, which...

The Internet Comes Alive With YouTube.(Reprint)
December 1, 2008... Reprinted with permission from FindLaw.com The sheer power of the Internet was put on full display Saturday night by the YouTube Live event broadcast from San Francisco with hundreds of thousands of unique real-time online feeds and...

Channel Island Stock Exchange, LBG - Listing Equities.
December 1, 2008... Listing of Equities issued by a Trading Company This briefing document provides a summary of the key requirements for the admission of equity securities of a trading company to a listing on the Channel Island Stock Exchange, LBG (the 'CISX'...

Domiciling Investment Funds In The British Virgin Islands And Cayman Islands.
December 1, 2008... The "sub-prime" crisis and the volatility of international markets in 2008 has reinforced the utility of "open-ended" funds as a refuge for investors with a clear increase in the number of 'special opportunities' and 'distressed opportunities'...

Pensions Update (November 2008).
December 1, 2008... REGULATOR'S STATEMENT ON CURRENT MARKET CONDITIONS The Pensions Regulator has issued a statement on current market conditions. It has reviewed its codes of practice and guidance and come to the view that no changes are required at present...

Tackling The Global Challenge Locally.
December 1, 2008... Environmental issues have been thrust to the fore in local government. The press is full of news with an environmental or climate change theme: from recycling and reuse, to landfill and pay as you throw pilots, from flooding to flood...

Trends In Terms Of Venture Financings In The San Francisco Bay Area (Third Quarter 2008).
December 1, 2008... Background – We analyzed the terms of venture financings for 101 companies headquartered in the San Francisco Bay Area that reported raising money in the third quarter of 2008. Overview There has recently been substantial distress and...

What Next For Joint Waste Authorities?
December 1, 2008... Recently the issue of shared services has been high on the agenda for many local authorities. The benefits of working together are irrefutable and may provide valuable gains in efficiency and resource terms. However, there is still much debate...

Climate Change.
December 1, 2008... Climate change has become an increasing focus, especially with the recent announcement of the creation of the new Department of Energy and Climate Change (DECC). The new Department will bring together the former Climate Change Group (CCG) which...

The VAT Package.(Value-added tax)
December 1, 2008... Key strategic developments in VAT known as the "VAT Package" have been approved by ECOFIN in 2007. These include new rules for the place of supply of service, improved cross border refund procedures and greater tax administration cooperation....

Toronto Stock Exchange Issues Guidance On Securityholder Rights Plans.
December 1, 2008... The TSX expects most securityholder rights plans to have a triggering threshold of 20%, consistent with takeover bid requirements under Canadian securities legislation. The stock exchange requirements for securityholder rights plans generally...

Residential Contracts - Court Takes Aim At PAMDA.(Property Agents and Motor Dealers Act 2000 )
December 1, 2008... The Supreme Court decision of Hedley Commercial Property Services Pty Ltd v BRCP Oasis Land Pty Ltd [2008] QSC 261) highlights the ongoing practice issues affecting all residential sales in Queensland under the Property Agents and Motor Dealers...

Final CFIUS Regulations On Reviewing Foreign Investments In The United States.(Committee on Foreign Investment in the United States)
December 1, 2008... The Committee on Foreign Investment in the United States (CFIUS) reviews foreign investments in U.S. businesses for the impact of these investments on national security. On November 21, 2008, the Treasury Department, which chairs CFIUS,...

Acceptance Of Tenant's Cheque - Waiver Or Not?
December 1, 2008... When a tenant is in breach of a covenant in the lease, his landlord may have a right to forfeit that lease. The landlord has, however, the option to waive that right to forfeit and that election may be express or implied. A demand for or...

A Look Ahead: The 2009 U.S. Health Legislative Landscape.
December 1, 2008... Organizations involved in the health care, pharmaceutical and biotechnology industries should be aware of likely dramatic shifts in U.S. health policy under an Obama administration. As a result of the November 2008 U.S. elections,...

Federal Circuit Narrows Patent Eligible Subject Matter In In Re Bilski.
December 1, 2008... In a long-anticipated en banc decision, the U.S. Court of Appeals for the Federal Circuit retrenched much of its jurisprudence in the area of patent eligible subject matter and implemented a new test of patent eligibility for process claims...

Cash Payments To Settle Hatch-Waxman Litigation Do Not Violate Antitrust Laws.
December 1, 2008... A unanimous panel of the U.S. Court of Appeals for the Federal Circuit affirmed a district court's grant of summary judgment granted to Bayer, holding that reverse payment settlements of a bona fide patent litigation are within the exclusionary...

No Entitlement To Equitable Compensation For Breach Of Fiduciary Duty By Sexually Abused Minor Against Child Protection Authority.
December 1, 2008... Brown v. State of New South Wales [2008] NSWCA 287 (6 November 2008) In Brief The Department of Community Services does not owe a minor under their control a fiduciary duty the breach of which would otherwise entitle the minor to equitable...

Court Rejects Per Se Rule For Vertical "Market Allocation" Agreement.
December 1, 2008... A federal district court has dismissed the claim that an agreement between Hewlett-Packard (HP) and its customer Staples office supply stores, under which Staples stopped selling its own ink cartridges for HP printers, was a per se illegal...

Professional Indemnity Insurance - Nature Of Risk - Policy Does Not Respond Where Engineer Has Design Responsibility But Loss Was Caused By Negligent Performance Of Work.
December 1, 2008... Baulderstone Hornibrook Engineering Pty Ltd -v- Gordian Runoff Limited and Ors [2008] NSWCA 243 (9 October 2008) In Brief In a claim under a P. I. policy arising from construction work, it is necessary to identify whether the cause of the...

The Supreme Court Of Canada Endorses Liability Without Fault Inenvironmental Matters In Quebec.
December 1, 2008... On November 20, the Supreme Court of Canada rendered its much anticipated judgment in St. Lawrence Cement Inc. v. Barrette, allowing a class action for neighborhood annoyances in connection with the operation of the cement plant. This...

Energy Industry November 2008 Updates.
December 1, 2008... President-Elect Barack H. Obama's Green New Deal President-elect Obama's energy program will be all about jobs — green jobs. Energy will be the cornerstone of the new administration's plan for economic recovery. Durability,...

Massachusetts DEP Proposes Sweeping New Stormwater Discharge Permitting Program: Permits To Be Required For Many Previously Unregulated Sources.
December 1, 2008... On November 17, 2008, the Massachusetts Department of Environmental Protection ("MassDEP") announced a proposed new set of regulations to implement a statewide stormwater management program. Whereas current stormwater regulations focus on the...

Temporary Relief For Toronto Stock Exchange And TSX Venture Exchange Issuers.
December 1, 2008... The Toronto Stock Exchange and the TSX Venture Exchange have just announced the introduction of measures granting temporary relief from some of their requirements to assist listed issuers. These changes, which will remain in effect until March...

Combined Heat And Power Schemes.
December 1, 2008... As climate change issues gather speed local authorities are pivotal and well placed to have maximum influence. Local authorities are community leaders, working with other public sector stakeholders via the Local Area Agreement and Local...

President-Elect Barack Obama's Energy and Environmental Policies.
December 1, 2008... In his November 4, 2008 election victory speech, President-elect Barack Obama promised to pursue policies to harness cleaner sources of energy and create a healthy environment. During the campaign, he proposed a "New Energy for America" plan...

New FMLA Regulations Take Effect January 2009: Are You Ready?(Family and Medical Leave Act)
December 2, 2008... On November 17, 2008, the United States Department of Labor ("DOL") published its long-awaited revised and updated final rules interpreting the Family and Medical Leave Act ("FMLA"). These new regulations go into effect on January 16, 2009,...

Watch This (Expanding Internet Domain Name) Space: An Initial Report On The New Generic Top Level Domain Names.
December 2, 2008... Preamble The following FocusPaper provides a broad overview of ICANN's newly proposed procedure for the introduction of additional top-level domain names to the Internet. ICANN has produced explanatory papers which serve to aid a potential...

The Personal Information Protection And Electronic Documents Act And The Cross-Border Transfer Of Employee Data.
December 2, 2008... Article by Candice Teitlebaum* In May 2008, I discussed the impact of transborder data flows and the existence of the USA PATRIOT Act1 in the context of personal health information. The disclosure of the personal information of Canadians...

Privacy Breach Notifications In The Health Sector.
December 2, 2008... Article by Paige Backman* Canada has been slow to require notification of affected persons in events of privacy breaches. While Canada has both federal and provincial laws addressing privacy regulation, including the federal Personal...

Ontario Court Challenge: Testing The Public Consultation Requirements Of Local Health Integration Networks.
December 2, 2008... Article by Denis Chamberland* Health providers procure a wide range of products and services, sometimes to support a new service delivery approach. But before proceeding to do so, it is important to ensure that all regulatory requirements...

Liechtenstein Insurance Centre.
December 2, 2008... 1. Facts and figures The Liechtenstein insurance centre continues to enjoy robust growth. Of the 37 insurance companies operating at the end of 2007, 19 are active in the life business, 13 in the indemnity insurance business and 5 in the...

Technology, Media & Broadcasting, Telecommunications.
December 2, 2008... TRAI Determines Final Phasing out of ADC The Telecom Regulatory Authority of India ("TRAI") has recently issued the ninth amendment to the Interconnection Usage Charges ("IUC") regulation which deals, among other things, with the ADC...

Guidelines On Obtaining Probate For Assets Of Non-Jersey Domiciled Deceased Persons.
December 2, 2008... Jersey probate is required for all persons with movable estate situate in Jersey. It is an offence to intermeddle, take possession or in any way to administer any part of the movable estate of a deceased save where the 1998 Probate law allows....

Workplace Relations Update.
December 2, 2008... Contents Reminder to employers: increases to rates of pay One step closer to paid parental leave: Productivity Commission Draft Inquiry Report Corporations can access the Independent Contractors Act Update on the preservation...

Learning To Tackle Climate Change.
December 2, 2008... By Stephen Cirell and John Bennett The subject of climate change was thrust back into the news on 16 July 2008 when Minister Hilary Benn provided an update on the Carbon Reduction Commitment, indicating that the government has now decided...

New FMLA Rule Effective January 16, 2009.(Family and Medical Leave Act)
December 2, 2008... The Department of Labor (DOL) has published a final rule on the Family and Medical Leave Act (FMLA), which will become effective on January 16, 2009. The rule both implements recent amendments to the FMLA that provide leave entitlements for...

Reference May Anticipate Without Rendering Obvious.
December 2, 2008... Rejecting the maxim that anticipation is the epitome of obviousness, the U.S. Court of Appeals for the Federal Circuit held that a non-obvious invention may nonetheless be anticipated. Cohesive Technologies, Inc. v. Waters Corporation, Case...

U.S. Looks At 'Gold-Plating' To Enhance Patents.
December 2, 2008... Originally published in The Lawyers Weekly. In the recent U.S. presidential campaign, Senator Barack Obama proposed giving inventors the option of "gold-plating" their patents — subjecting them to a more rigorous review at the patent...

Washington Supreme Court Allows Insured To Maintain Procedural Bad Faith Action Against Insurer That Has No Duty To Defend, Settle, Or Indemnify.
December 2, 2008... Article by Melissa O'Loughlin White Esquire and Laura L. Edwards Esquire In St. Paul Fire & Marine Ins. Co. v. Onvia, Inc., 2008 WL 5006458, --- P.2d --- (Wash. No. 80359, Nov. 26, 2008), the Washington Supreme Court held that an...

Recent Developments In Climate Change Disclosure.
December 2, 2008... CICA releases climate change disclosure guide On November 26, 2008, the Canadian Institute of Chartered Accountants (CICA) released its publication Building a Better MD&A: Climate Change Disclosures (the Guide). Building on previous CICA...

DOL Issues Final FMLA Regulations.(Department of Labor)(Family and Medical Leave Act of 1993)
December 2, 2008... On Nov. 17, 2008, the U.S. Department of Labor (DOL) issued the final regulations under the Family and Medical Leave Act of 1993 (FMLA). The final regulations are set to take effect on Jan. 16, 2009, and will impact the forms employers use to...

Portfolio Company Debt: A New Investment Focus.
December 2, 2008... Article by Janet Andolina , Allan S. Brilliant , Emanuel C. Grillo , John R. LeClaire , Bruce J. Rader , Edward A. Reilly and Eric R. Reimer Loan To Own/Buy Your Own The current freeze in the credit markets and the resulting general...

Independent vs Co-Extensive Limitation Periods For Guarantees In Ontario: "The Bank Of Nova Scotia vs. Williamson"*.(Case overview)
December 2, 2008... When does the limitation period begin to run on a guarantee in Ontario? Under the Limitations Act, 2002 (Ontario), a creditor must commence a proceeding to enforce a guarantee within two years of "discovering a claim". If the guaranteed...

How The PCT Has Influenced The Mexican Patent System.
December 2, 2008... The enforcement of the Patent Cooperation Treaty (PCT) in Mexico will celebrate 14 years next year. As of June 1995, when filing of patent applications under the PCT officially took off, the PCT system has proven to be an efficient and...

EU & Competition Round-Up (December 2008).
December 2, 2008... UK COMPETITION OFT Clears Stella Artois/Budweiser Merger After a lengthy investigation, the Office of Fair Trading (OFT) gave its approval to the acquisition by InBev (Belgium) of the US's largest brewer, Anheuser-Busch. The deal is one of...

Employment Law Commentary, November 2008.
December 2, 2008... ANNUAL CALIFORNIA ROUNDUP: MUCH ADO ON THE LEGISLATIVE FRONT – PLUS EMPLOYMENT LAW IN PRESIDENT ELECT OBAMA'S ADMINISTRATION Introduction This year was a busy one for the California legislature. In spite of the state budget crisis...

Anticipation Requires All Elements To Be Arranged Or Combined In The Same Way.
December 2, 2008... In a suit involving two patents for secure internet credit card transaction processing, the U.S. Court of Appeals for the Federal Circuit clarified that in order to anticipate a claimed invention a prior art reference must not only disclose all...

Senator Baucus Releases Plan To Reform Health Care - "A Call To Action".
December 2, 2008... On November 12, 2008, Senate Finance Committee Chairman Max Baucus (D-Mont.) released a paper, titled "Call to Action, Health Reform 2009," which sets forth his vision for health care reform (the "Baucus plan").1 The Baucus plan was unveiled...

New Expatriation Rules Under Sections 877A And 2801.
December 2, 2008... Article by Ellen Seiler Brody and Jason K.Binder* Co Editors: Stanford H. Goldberg* and Peter A. Glicklich** Introduction With the passage of the Heroes Earnings Assistance and Relief Tax Act of 20081 ("the heart Act") on June 17,...

Labor's Promised IR Legislation Introduced Today: Fair Work Bill.(industrial relations)
December 2, 2008... The Federal Government's long-expected Fair Work Bill 2008 (Cth) has now been introduced into Federal Parliament, with certain elements expected to take effect from 1 July 2009. Employee entitlements National Employment Standards - As...

Canadian Legislators Turn Their Attention To Washington For Direction On Climate Change.
December 2, 2008... This Climate Change Bulletin is part of a series that is prepared periodically by BLG's Climate Change Group to alert our clients to emerging issues and initiatives that are relevant to their businesses and strategic interests. Future Climate...

Latest Pieces Of Guarantee Scheme For Large Deposits And Wholesale Funding Released.
December 2, 2008... On 21 November 2008, the Government released: the Guarantee that will apply to deposit liabilities held with eligible Australian authorised deposit-taking institutions (ADIs) in excess of $1 million and to wholesale funding liabilities of...

Appeal Opposing Injunction On MICO Fails.(Motor Industries Co.)
December 2, 2008... Dealing with an appeal challenging the order of a Single Judge granting an interim injunction is the case of Micolube India Ltd. v. Maggon Auto Centre 2008 (38)PTC 271 (Del.)(DB). Dealing with the trademark 'MICO', the injunction of the use of...

Revisiting The Doctrines In Copyright: The Oxford Dispute.
December 2, 2008... The doctrines governing Copyright Law often compete against each other to enable determine disputes involving various aspects. The idea-expression dichotomy is often balanced against the fair-use provision in the Indian copyright regime....

Manhattan/MYOB: Be Careful What You Intend.(Case overview)
December 2, 2008... What you need to know Be aware that ASIC's "Truth in Takeovers" policy1 means that certain public statements by participants in a takeover bid (referred to as "last and final" or "best and final" statements) are effectively binding. ...

Review Of The International Arbitration Act 1974 Announced.
December 2, 2008... On 21 November 2008, the Australian Government announced a review of the International Arbitration Act 1974 (Cth), an essential and welcome step in improving its operation and promoting Australia as a place for international arbitration. ...

457 Safety.
December 2, 2008... In what is believed to be the first decision of its kind, a Victorian Magistrates Court held a printing company guilty of seven breaches of the Occupational Health and Safety Act 2004 (Vic) (Vic Act) for employees sponsored by the company under...

FOI Conclusive Certificates Conclusively Abolished By New Bill.(freedom of information)
December 2, 2008... Key Point The Administrative Appeals Tribunal will be able to conduct full merits review of any claims for an exemption. The Federal Government has acted on its election promise to promote a culture of open government by introducing a...

ACCC Publish New Merger Guidelines.(Australian Competition & Consumer Commission)
December 2, 2008... On 21 November 2008, the Australian Competition & Consumer Commission ("ACCC") published its new "Merger Guidelines". The Merger Guidelines are the ACCC's first published guidelines in the area of mergers since 1999. What are the Merger...

Court Of Appeal Clarifies The Scope Of Appeals Against Acquittal.(Case overview)
December 2, 2008... The New South Wales Occupational Health & Safety Act (Act) permits the prosecutor to appeal to a Full Bench of the Industrial Court of New South Wales, against a verdict of acquittal. This is an exception to the normal principles of criminal...

US Government Issues Final Rules on Scrutiny of Foreign Investments.
December 2, 2008... Originally published December 1, 2008 Keywords: final rules, foreign investments, US Department of the Treasury, national security, Foreign Investment in the United States, CFIUS, On November 21, 2008, the US Department of the Treasury...

The European Commission Finds That Competition in the EU Pharmaceutical Sector Is Not Working as Well as It Should.(Report)
December 2, 2008... Originally published 1 December 2008 Keywords: European Commission, EU Pharmaceutical Sector, Pharmaceutical Sector Inquiry, generic medicines, cheaper generic medicine, EC competition rules, EFPIA, patent strategies On 28 November...

Whistleblowing Scheme - A Conflict Between The US SOX And The Swedish Personal Data Act.
December 2, 2008... The Swedish Data Inspection Board has, on March 26, 2008, rendered decisions in five cases regarding exceptions from Section 21 in the Swedish Personal Data Act (Sw. Personuppgiftslagen (1998:204)) concerning whistleblowing schemes. The Swedish...

Meal And Rest Break Obligations Still Up In The Air.(Brinker Restaurant Corp.)
December 3, 2008... The California Supreme Court recently granted review of Brinker Restaurant Corp. v. Superior Court, in which a Court of Appeal held that an employer's obligation to "provide" rest and meal breaks to employees means only that the employer must...

DOJ Targets Approximately 20,000 Investors As Co-Conspirators In Criminal Tax Fraud Investigation Of UBS.
December 3, 2008... The United States Department of Justice has opened a new front on its war against allegedly fraudulent tax shelters. On November 12, 2008, the United States indicted a senior executive at UBS AG for tax evasion. The indictment accuses the...

No Redemption From The Supreme Court.(Case overview)
December 3, 2008... Background On July 31, 2008, the Supreme Court of Canada ("SCC") delivered its reasons for judgment in Redeemer Foundation v. Canada (National Revenue)1 ("Redeemer"). Redeemer addressed the Canada Revenue Agency's ("CRA") power to obtain...

FMC Focus on Technology/IP - Volume 1, Issue 4 - November 2008.
December 3, 2008... Canadian And International Domain Name Developments In the past few months there have been some notable international and domestic developments relating to the administration of domain names. This article summarizes the key developments and...

Insuring And Securing Your Data.(Reprint)
December 3, 2008... Reprinted with permission from the November 2008 issue of Risk Management Magazine. Copyright 2008 Risk and Insurance Management Society, Inc. All rights reserved The risk of data theft has never been greater. Businesses, organizations and...

Increased Competition For Generic Drugs Could Save Canadians $800 Million A Year.
December 3, 2008... The Competition Bureau has released a new study of the generic drug industry, Benefiting from Generic Drug Competition in Canada: The Way Forward, that proposes a number of changes to increase competition in the supply of generic drugs. The...

National Competition Law Report - Q3 2008.(Eichhof Holding)
December 3, 2008... Abuse of dominant position ComCo fines Documed On 17 July 2008, the Competition Commission (ComCo) announced that it has closed its investigation of Documed's practice in relation to information on pharmaceutical products. Documed is a...

Chinese Merger Review Receives Its First Toast: InBev and the new Anti-Monopoly Law.
December 3, 2008... On 18 November 2008, the Chinese Ministry of Commerce (MOFCOM) announced that it has cleared the acquisition by InBev N.V./S.A. (InBev) of Anheuser Busch Companies Inc. (A-B), the largest transaction it has yet considered under China's new...

Ship Registration Under Malta Flag.
December 3, 2008... Vessel registration under the Malta flag and the operation of Maltese ships is regulated by the Merchant Shipping Act of 1973, a law based mainly on United Kingdom legislation but subsequently revised and amended in 1986, 1988, 1990 and 2000....

Patentees Score A Victory In The Supreme Court Of Canada: Validity Of Selection Patents Upheld.(Case overview)
December 3, 2008... Overview On Thursday, November 6, 2008, the Supreme Court of Canada released its much-anticipated decision in Sanofi-Synthelabo Canada Inc. v. Apotex Inc., 2008 SCC 61 (Sanofi). In this landmark decision, the Supreme Court gives...

In The matter Of The E, L, O And R Trusts.
December 3, 2008... Facts The beneficiaries of four trusts (the "H Family Trusts") sought the removal of one of their cotrustees, Verite Trust Co Ltd ("Verite"), on the grounds of conflict of interest, arising from Verite's trusteeship of eight other trusts...

Jersey Property Unit Trusts.
December 3, 2008... Introduction Jersey Property Unit Trusts ('JPUTs') have been used extensively as a vehicle to acquire and hold UK property. Whilst previously the key driver for this was the seeding relief exemption from UK Stamp Duty Land Tax ('SDLT'),...