Mondaq Business Briefing articles from January 2004

Mondaq Business Briefing archives from January 2004

Simplifying Pension Taxation.(UK)
January 5, 2004... Summary The Inland Revenue's second consultation paper on pensions, published jointly with the Treasury on 10 December 2003, proposes a radical overhaul of the tax rules for pensions. Under the proposals a single simplified set of rules...

SEC Adopts Final Rules Regarding Nominating Committee Functions And Communications Between Security Holders And Boards Of Directors.
January 5, 2004... By Joseph L. Johnson lll, Gilbert G. Menna P.C, Ettore A. Santucci P.C, L. Kevin Sheridan Jr and Suzanne D. Lecaroz Esq Introduction The SEC has adopted final rules that require disclosure in proxy statements regarding the operations...

Taiwan Government Considering Enacting Spam Legislation.
January 5, 2004... The government of Taiwan is actively looking into enacting legislation in response to the problems associated with spam. The Legislative Yuan has scheduled a series of public hearings on the subject, the Executive Yuan's Council of Economic...

New Funds Law Promulgated by CSRC.(China Securities Regulatory Commission )
January 5, 2004... Written by Elaine Lo (Partner) and Andy Yip (Solicitor) Summary On 28 October 2003, the Law on Securities Investment Funds ("LSIF") was promulgated by the China Securities Regulatory Commission ("CSRC") with a view to protecting...

2004 California Employment Law Survey.
January 6, 2004... This year has been quite a significant legislative year in the State of California. The following is a brief summary of new legislation affecting employers with California operations. Naturally, the interpretive applicability of these newly...

New Rules Officially Permit Overseas Financial Institutions to Acquire Shares in Chinese-Owned Financial Institutions.
January 6, 2004... Written by Elaine Lo (Partner) Summary The China Banking Regulatory Commission ("CBRC") promulgated the Administrative Measures for making Investment through Share Participation by Overseas Financial Institutions in Chinese Financial...

Mutual Fund Scandals In The United States: What is The Impact On Hong Kong Investors?
January 6, 2004... Written by Phillip Smith (Partner) and Kevin Brocklehurst (Registered Foreign Lawyer (Canada)) Summary 'Market timing' and 'late trading' have become hot topics since September 2003 when New York State Attorney-General Eliot Spitzer...

Living With "AMPS" The New Customs Penalty System.(Administrative Monetary Penalty System)
January 6, 2004... 1. Why Should Auto Par Why Should Auto Parts Manufacturers/Suppliers Care About AMPS? Effective October 7, 2002, Canada Customs and Revenue Agency ("CCRA") introduced the Administrative Monetary Penalty System ("AMPS") for hundreds of...

Implied Trust and Confidence: An Update.(Steven Horkulak v Cantor Fitzgerald International [2003] EWHC 1918 (QB))
January 6, 2004... Written by Duncan Abate (Partner) and Chester Wong (Trainee Solicitor) Summary In a recent UK case, Steven Horkulak v Cantor Fitzgerald International [2003] EWHC 1918 (QB), the High Court made it clear that a high pressure working...

Unfair Dismissal Claims in the UK: Any Compensation For Non-Economic Loss? (07 Nov 2003).
January 6, 2004... Written by Duncan Abate (Partner) and Chester Wong (Trainee Solicitor) Summary Following the decision in Johnson v Unisys Ltd [2001] IRLR 279 HL ("Johnson"), there has been a growing trend for employment tribunals in the UK to grant...

Post-employment Discrimination.
January 6, 2004... Written by Duncan Abate (Partner) Background It is already established that in certain industries there is an implied term that an employer will provide a reference for a former employee. In such situations, failure to provide a...

Senate Committee Recommends Bold Insolvency Law Reforms.
January 6, 2004... This article was co-authored by Andrew J.F. KentLate on November 4, 2003, the Standing Senate Committee on Banking, Trade and Commerce released a report calling for substantial reform of the federal insolvency statutes. Because of concerns...

Introduction of New Land Law.
January 6, 2004... Summary The much-awaited new Land Law was passed by the National Assembly on 6 November 2003.  It is a single comprehensive piece of legislation that attempts to deal with current land issues of concern to all land users. ...

Cashing-in with Money Ads.
January 6, 2004... This article was co-authored by Bill HearnYou are considering a major direct mail advertising campaign for a hospital lottery. You would like to use the picture of a woman surrounded by piles of $50 and $100 bills with a description of the...

New Guidelines on Labour Contracts.
January 6, 2004... Written by Dao Nguyen (Partner) and John Hickin (Solicitor) Summary On 22 September 2003, the Ministry of Labour, Invalid and Social Affairs ("MOLISA") issued Circular 21/2003/TT-BLDTBXH guiding The Implementation Of Decree...

Federal Banking Agencies Issue Policy on Financial Institutions Providing Financial Support to Advised Investment Funds.
January 7, 2004... The OCC, FRB, FDIC and OTS (the "Agencies") jointly issued a policy statement (the "Policy Statement") alerting financial institutions ("FIs") to safety and soundness issues related to providing financial support to bank-advised investment...

Technology Commentaries: California First State To Require Online Privacy Policies.
January 7, 2004... In 2003, California enacted groundbreaking consumer rights legislation in the areas of database security, sharing of personal financial information, spam, and the use of personal information in direct marketing.1 Maintaining its pioneer status,...

The Pitfalls Of Public Disclosure: Protecting the Fruits of Your Research.
January 7, 2004... By Brian P. O'Shaughnessy and Christopher L. North The patent system provides a means for inventors to protect the fruits of their labors, and thereby attract more funding, talented research assistants, and notoriety. Occassionally,...

Registration Of A Yacht In Gibraltar.
January 7, 2004... The following is the procedure that needs to be followed when an owner wishes to own his yacht through a Gibraltar tax exempt company and the yacht be registered on the British Register of Shipping. A notice of name proposed form is...

Take Three: Why Cyberspace Still Matters In The Post Dot Com World.
January 8, 2004... By Julia Anne Matheson and Dinah Nissen Originally published in Trademark World, September 2003 The past few years have spurred incredible changes and evolution in the law of trademark infringement, identification, and enforcement. But...

To Hold Or Not To Hold.
January 8, 2004... Reprinted with permission from IP Law and Business, August 2003 Published by Aspen Law & Business Patents aren't eggs, but putting them all in one basket still might not be a good idea. Manufacturers that are considering transferring...

Confidential Pharmaceutical Data: Restricting Disclosure in Court Proceedings.
January 8, 2004... Article by Richard Best, Ashurst* Pharmaceutical companies produce a wealth of valuable and commercially sensitive information, much of which needs to be kept beyond competitors' reach. Nevertheless, a measure of disclosure is commonplace...

Piper Rudnick and Steinhart & Falconer Announce Merger.
January 8, 2004... San Francisco, December 29, 2003 - Piper Rudnick LLP, a leading national law firm, and Steinhart & Falconer LLP, one of the Bay Area's top regional law firms, announced today that they have agreed to join forces. The merger, which takes effect...

Commercial Litigation NetLetter-08 January 2004.
January 9, 2004... HIGHLIGHTS In resolving a dispute between parties to a share exchange transaction, a court will not inquire into the sufficiency of the consideration, at least in the absence of evidence that the transaction was a sham. American...

Arguing Before The Board Of Patent Appeals And Interferences: Strategies For Success.
January 9, 2004... Reprinted with permission from IP Litigator, September/October 2003 Published by Aspen Law & Business I. Introduction Some practitioners regard oral argument before the Board of Patent Appeals and Interferences as little more than a...

New Test Adopted For European Union Merger Review.
January 9, 2004... By Stan Gorinson, Emmanuelle Rouchelle and Connie Robinson Introduction As part of a comprehensive reform package of its merger policy, the European Union Council of Ministers recently agreed to a new substantive test for mergers with...

European Union Adopts Merger Control Guidelines.
January 9, 2004... By Stan Gorinson, Connie Robinson and Emmanuelle Rouchelle Introduction The European Commission recently announced the adoption of guidelines setting out, for the first time, the Commission's analytical approach in the assessment of...

FTC Administrative Law Judge Rules UNOCAL'S Patent-Related Activities Before State And Private Standard-Setting Bodies Immune From Antitrust Attack.
January 9, 2004... By Stan Gorinson, Emmanuelle Rouchelle and Connie Robinson Introduction The attached article will be of interest to companies that compete in industries in which intellectual property rights have the potential to affect competition in...

Cause & Causality.
January 11, 2004... Key Points The recent reforms in the Civil Liability Act 2002 (NSW) specify a new test for causation in negligence actions for personal injury. The first significant comment on the operation of this test is found in the judgment of...

The Use Of Financial Modelling In Expert Evidence.
January 11, 2004... Article by Sid Wang and Jacqueline Deane Key Points: Caution needs to be exercised when experts employ "modelling" techniques in reports which are prepared for the purpose of establishing quantum of economic loss. The validity of...

Insolvent Trading: Who's Liable?
January 11, 2004... Australian directors have long lived in the shadow of insolvent trading. However, although directors' liability for insolvent trading is well-known, it's not so widely known that that liability can extend to people and organisations who have...

Stopping The Overseas Scammers.(Australian Competition and Consumer Commission v Chen [2003] FCA 897 (27 August 2003))
January 11, 2004... Domestic law's limitations in dealing with Internet scams are well-known. When scams involve the use of domain names similar to registered trade marks, the mark's owner may have recourse through ICANN, but in the meantime consumers could still...

Legal Advice Privilege And Communications With Third Parties.
January 12, 2004... Article by Mr Damien McAloon and Mr Paul James 1. Introduction 1.1 Confidential communications between a solicitor and client are, if made for the dominant purpose of giving legal advice or for use in existing or anticipated...

Swedish Limited Liability Companies As Holding Companies In International Corporate Structures.
January 12, 2004... Introduction Over the past several years Sweden has prepared new and from an international perspective very competitive rules, which make Swedish limited liability companies (Sw. Aktiebolag) very attractive as holding companies in...

Pinsents Advises Equity Investor On [pounds sterling]39 Million MBO.(Celsius First Ltd.)(Brief Article)
January 12, 2004... Equity investors, Oregon Capital Partners, have been advised by lawyers from Pinsents on the [pounds sterling]39 million management buyout of Celsius First Ltd, the UK's market leader in cold storage warehousing and distribution. Oregon...

Pinsents Advises Perrigo On Latest UK Acquisition.(Brief Article)
January 12, 2004... The UK's largest manufacturer of own-label over-the-counter pharmaceutical and nutritional products, Perrigo Company, has been advised by lawyers from Pinsents on a strategic $13 million ([pounds sterling]7.1 million) acquisition. US-owned...

Reform Of French Bankruptcy Proceedings -- The Amicable Reorganizations Draft Project, A Flawed Attempt.
January 12, 2004... The draft legislation relating to the protection of distressed companies, published on October 13, 2003, by the French Department of Justice, has come as quite a surprise to most commentators. The text, which was submitted for comment to law...

Real Assets - Real Value.(Klaeren Case)
January 12, 2004... A Landmark Change in Illinois Zoning Law: The Klaeren Case In October 2002, the Illinois Supreme Court sent shock waves through the development community and municipal governments in overturning long-standing Illinois land use law...

SEC Issues MD&A Guidance for 2004.(Securities and Exchange Commission, Management's Discussion and Analysis of Financial Condition and Results of Operations )
January 13, 2004... On December 19, 2003, the Securities and Exchange Commission ("SEC") staff published interpretive guidance (the "Release") on how public companies can improve their Management's Discussion and Analysis of Financial Condition and Results of...

The Orloff Case: California Supreme Court Holds that Public Enforcement Agencies Can Bring Action Against CPUC-Regulated Entities.
January 13, 2004... Morrison & Foerster has been monitoring developments in a case recently decided by the California Supreme Court which may have important consequences for companies seeking judicial relief against public utilities regulated by the California...

<I>Amici Curiae</I> to Federal Circuit: Revise the Law on Advice of Counsel and Patent Willfulness.
January 13, 2004... The Federal Circuit's recent call for amicus curiae briefing on the subject of how patent willfulness is proven drew an astonishing twenty-four responses, all of them urging the court to revise its precedent. In particular, amici unanimously...

Studio Legale Sutti Establishes Tax Department.
January 13, 2004... A few months after the beginning of its 50th year of activity Studio Legale Sutti (http://www.sutti.com), one of the largest independent firms in Italy, has announced the reorganisation of its tax practice into a fourth separate Corporate Tax...

California Supreme Court Provides New "Defense" for Sexual Harassment Claims.
January 13, 2004... In late November, the California Supreme Court delivered a near unanimous decision (written by Justice Kennard with Justice Moreno in concurrence) in the case of State Department of Health Services v. Superior Court, 31 Cal. 4th 1026 (2003),...

Good News For Employers - Misconduct Amendment to FCRA.(Fair Credit Reporting Act)
January 13, 2004... Employers investigating allegations of sexual harassment, discrimination, theft, or other misconduct or policy violations can breathe a sigh of relief. They will no longer have to notify suspected employees and obtain authorization prior to...

European Union VAT-paid yachts: Yachts Registered in Malta Prior to March 31, 2004 Will Pay VAT on Import at 5% and Will be EU VAT-paid Vessels Following Accession of Malta to the E.U. on May 1, 2004.
January 13, 2004... The Maltese Government has just published Regulation 384 of 2003 under the Value Added Tax Act whereby, prior to Malta's accession to the European Union in 2004, it will temporarily allow the registration of yachts under the Maltese flag with...

SEC Issues Final Disclosure Rules Regarding Nominating Committee Process and Shareholder Communications with Board Members.(Securities and Exchange Commission)
January 13, 2004... Disclosure Regarding Nomination Process The final rules add new Item 7(d)(2) to Schedule 14A. A company's proxy statement must disclose whether the company has a standing nominating committee or another committee that performs similar...

Treatment Without Consent: Breach of the Human Rights Act?
January 13, 2004... Originally published in December 2003 The Human Rights Act prohibits inhuman or degrading treatment. It has been argued that treatment without consent constitutes such treatment. This issue has recently been addressed by the Court1. ...

Nearest Relatives and Next of Kin.
January 13, 2004... Originally published in December 2003 One of the greatest misconceptions in the health sector is to ascribe to the next of kin a legal status. They have no such legal status: The phrase "next of kin" is not one recognised by the law. Next...

Landlords on the Roof - An Update.
January 13, 2004... By Charles Farrer, Reena Patel and Michael Thorniley-Walker Originally published December 2003 Earlier this year we published an article on the Telecommunications Act 1984 (which has now been superseded by the Communications Act 2003)...

Documents Sent by Recorded Delivery are Deemed Served on the Day of Posting.
January 13, 2004... Originally published December 2003 Recent case law suggests that documents sent by recorded delivery post are likely to be deemed served even if it can be shown that they are unlikely to have been received by the addressee. Pursuant to...

A Cure for Licensing Dyslexia.
January 14, 2004... Originally published in April, 2003 As an active participant in the 'licensing industry', I've seen a lot of change over the last few years. Celebrities have become licensors, retailers have become licensees, and virtually every market has...

OCC Provides Guidance on Preemption Issues.(issued two final rules declaring that national banks and their operating subsidiaries may operate nearly free from state law restrictions)
January 14, 2004... The OCC issued two final rules strongly declaring that national banks and their operating subsidiaries may operate nearly free from state law restrictions. The two rules amplify and strengthen existing OCC interpretations regarding the extent...

How Much for the Brand License?
January 14, 2004... Originally published November, 2003 Hundreds of new trademark license agreements are developed each year. Corporate or brand extension licensing is visible in more categories than ever before. Given the value of many brands being licensed,...

Supreme Court Docket Report, October Term, 2003 - Number 6.
January 14, 2004... By Richard B. Katskee (Washington) On December 15, 2003, the Supreme Court granted certiorari in two cases of potential interest to the business community, including one case in which Mayer, Brown, Rowe & Maw LLP represents one of the...

Six Piper Rudnick Lawyers Make L.A. Super Lawyers 2004 List.(Jane H. Barrett, Linda Bozung, Brian C. Lysaght, Jon D. Meer, Perrie M. Weiner, and Pamela L. Westhoff)(Brief Article)
January 14, 2004... Los Angeles Magazine Cites Barrett, Bozung, Lysaght, Meer, Weiner, and Westhoff LOS ANGELES, January 12 - Six partners from the Los Angeles office of Piper Rudnick LLP have been named Los Angeles Super Lawyers 2004 by Los Angeles magazine....

Hong Kong Launches Second Level .HK Domain Names.
January 15, 2004... By Gabriela Kennedy and Joanne Harland Hong Kong Launches Second Level .HK Domain Names The Hong Kong Domain Name Registry ("HKDNR") has announced that it will be launching second level domain names under the top-level country-code...

Dealing With Intellectual Property In Business Combinations.
January 15, 2004... By Michael Turgion and Timothy J. Bechen Last year, the SEC's Division of Corporate Finance released a review of 2002 filings by Fortune 500 companies. Of particular note was the conclusion that intellectual property and other intangible...

Pinsents Advises On Recommended Bid For Giardino Group.(by Town Centre Restaurants Ltd.)(Brief Article)
January 15, 2004... Town Centre Restaurants Limited, the private company mounting a [pounds sterling]16.3 million recommended bid for quoted restaurant chain, Giardino Group PLC, is being advised by UK law firm, Pinsents. The bid, made by BDO Stoy Hayward...

E-Commerce Update.
January 15, 2004... Article by Lesley Sutton, Partner and Nicole Wellington, Solicitor This article includes: Domestic: Anti-spam Bill passes through Federal Parliament Australia endorses WSIS action plan International: EU publishes...

The New Jersey Tax Court Limits State Taxation Of Royalty Payments.(Lanco Inc. v. Director, Division of Taxation)
January 16, 2004... In an October 23, 2003, decision, Lanco, Inc. v. Director, Division of Taxation (No. 005329-970), the New Jersey Tax Court comprehensively reviews the history of state taxation of interstate royalty payments and the constitutional issues...

Auto finance companies in China.
January 16, 2004... Contents News briefs Auto finance companies in China Sino-foreign HR joint ventures Protecting shareholders' rights Sino-foreign joint film production CEPA: repercussions for telecom service Providers Legislation ...

Shape Trade Marks - Recognition At Last?
January 16, 2004... Nestle Waters France v Office for Harmonisation in the Internal Market (Trade Marks & Design) (Case t-305/02) - Court of First Instance -Judges Tilli (President), Mengozzi and Vilaras - 3 December 2003 Background The registration of...

Washington Bad Faith Law.
January 16, 2004... As Published in October 2003 King County Bar Bulletin Insurance has become a necessary item for all Washington residents and businesses. Despite the State requiring insurance for many activities, insurance is a good way to...

Document Retention Policies Have Long-Term Benefits.
January 16, 2004... Goal Is to Ensure Important Information Is Kept as Long as Necessary and No Longer The maximum fine is warranted to send the message to the auditing community that the destruction of documents will not be tolerated. So said U.S....

US Treasury Department Announces a New Proposal to Add Additional Civil Penalties to the Requirement for Disclosure of U.S. Person's Financial Accounts Overseas.
January 16, 2004... Introduction The United States has stepped up its efforts to seek out bank accounts held by US residents, citizens or persons (which includes green card holders and other long term residents) citing these accounts as a means to violate or...

Foreign Charitable Foundations or Entities and the U.S. Qualified Intermediary Rules.
January 16, 2004... Foreign charitable foundations and other charitable entities with non-United States (U.S.) held financial accounts can receive a preferential withholding tax rate under the U.S. qualified intermediary (QI) program, in respect of U.S....

Pinsents Advises On [pounds sterling]61 Million Secondary Buyout Of Dennis Eagle.(law firm advises on buyout of truck manufacturer Dennis Eagle, United Kingdom)(Brief Article)
January 16, 2004... Teams from UK law firm Pinsents have advised on the [pounds sterling]61.5 million secondary buyout of Dennis Eagle, the UK manufacturer of refuse collection vehicles. The deal was backed by ABN Amro Capital, the private equity arm of the...

The Swedish Insurance Market.
January 16, 2004... The Swedish insurance industry has a long history and the Swedish insurance market has previously distinguished itself as a closed market dominated by small number of domestic companies. However, during the past decade Sweden has gradually...

Assets Destined To A Specific Business.(Italian corporate law)
January 16, 2004... The recent so-called Reform of the Italian Corporate Law (i.e., Legislative Decree no. 6 of January 17, 2003), introduced a new way to provide a corporation with the benefit of a further limited liability in addition to the general one derived...

St. Kitts Introduces Foundations Legislation.(Brief Article)
January 16, 2004... A new piece of legislation entitled the Foundations Act, 2003 was passed on the 18th day of September 2003 by Parliament in St. Kitts. The enactment provides for the establishment of Foundations in St. Kitts. Foundations, which are usually...

St. Kitts Revamps its Financial Services Sector.
January 16, 2004... The Financial Services sector in St. Kitts is currently being re-assessed and evaluated, not by the FATF or OECD but by the service providers operating on the island. This exercise is being facilitated by the Marketing and Development...

New Rules For Class One Proceedings In The Land And Environment Court.
January 16, 2004... By John Taberner and Cristy Clark Introduction The Chief Judge of the Land and Environment Court, Justice Peter McClellan, has announced a number of changes to court procedure in relation to Class One matters. The measures are all...

The Need For Data Storage Solutions In The Financial Services Sector.
January 16, 2004... Martin Avison, Sales & Marketing Director for Electronic Data Management Specialist Instant Archive, Examines the Need for a Reliable Archiving Solution Recent FSA regulations have imposed more stringent regulations on financial services...

Valuing Patents as Market Monopolies.
January 19, 2004... What A Patent Is (And What It Is Not) In order to value a patent, it is essential to first grasp the nature of the rights it affords. A patent is the statutory right to exclude others from making, using, selling, offering for sale, or...

SEC Adopts New Disclosure Requirements Regarding Nominating Committee Functions and Communications Between Security Holders and Boards of Directors.
January 19, 2004... Originally published December 31, 2003 Contributing authors: Edward S. Best, Michael T. Blair, James B. Carlson, Robert E. Curley, Scott J. Davis, Jeffrey I. Gordon, Robert A. Helman, Michael L. Hermsen, James J. Junewicz, Kenneth E....

The SEC's Interpretive Release on MD&A.(Management's Discussion and Analysis of Financial Condition and Results of Operations)
January 19, 2004... Originally published January 11, 2004 Contributing authors: Edward S. Best, Michael T. Blair, James B. Carlson, Robert E. Curley, Scott J. Davis, Jeffrey I. Gordon, Robert A. Helman, Michael L. Hermsen, James J. Junewicz, Kenneth E. Kohler,...

Terrorists, Crimes & Tax: Anti-Money Laundering and Terrorist Financing Regulation as the U.S. Announces a Budget Increase to FinCEN.(Financial Crimes Enforcement Network)
January 19, 2004... The U.S. Treasury Department has announced that the Bush Administration will seek a 12.7% increase in the budget for the Financial Crimes Enforcement Network (FinCEN) as part of the 2005 budget, (U.S. Treasury Department, Press Release JS-1100,...

The New Spanish Arbitration Act.
January 19, 2004... A new Spanish Arbitration Act was approved on December 23, 2003 and will come into force in March, 2004. The new Arbitration Act replaces the one previously in force, dating from 1988. Although arbitration is increasingly seen in Spain as a...

Subcontractor charges: The latest from Queensland.(Subcontractors' Charges Act 1974, Australia)(case between Abigroup Contractors Property Ltd., Multiplex Constructions Property Ltd.)
January 19, 2004... By David Opperman and Geoff Hansen The effect of the amendments to the Subcontractors' Charges Act 1974 (Qld) (Act) were recently considered by the Court of Appeal of the Supreme Court of Queensland in the case of Abigroup Contractors Pty...

Tax Credits for Filmmakers in Illinois.
January 19, 2004... Originally published Friday, August 29, 2003 Something rather remarkable happened last summer in Springfield. In a time of budget deficits and spending cuts, the Illinois legislature passed and the Governor signed a tax credit for certain...

Massachusetts Medicaid Alert.
January 19, 2004... Originally Published Friday, September 12, 2003 LEGISLATIVE UPDATE December 12, 2003: The Massachusetts Congressional delegation has requested that the federal government not approve the Massachusetts Federal Waiver Request; the...

Making Sure Your Break Fee Is Not Broken.(Australia)
January 19, 2004... Article by Rodd Levy and Baden Furphy Introduction The Takeovers Panel's recent decision in the National Can Industries Limited case provides a number of important pointers to bear in mind in negotiating break fees. Some of these...

Damages For Defective Works.
January 19, 2004... By David Opperman and Geoff Hansen Overview A court will usually award damages for defective building works based on the cost of rectifying the defects complained of. However, the question of damages for building defects can be more...

EU - Amended Parent/Subsidiary Directive Promulgated.
January 20, 2004... The amended Parent/Subsidiary Directive enters into force on February 2, 2004. Member states have until December 31, 2004 to transpose the changes into national law. The amendment of December 22, 2003 to the EU Parent/Subsidiary Directive...