Mondaq Business Briefing articles from November 2005

Mondaq Business Briefing archives from November 2005

Getting The Balance Right - Delivering Fit For Purpose Internal Audit.
November 1, 2005... Unprecedented levels of regulation and market expectation are driving Audit Committees to place increasing reliance on internal audit functions to deliver high quality assurance over current and emerging risks across financial, operational, IT,...

Experts in Arbitration and Adjudication.(expert witnesses )
November 1, 2005... By Dr. Robert Gaitskell Q.C., Keating Chambers1 Originally presented to the Arbrix Construction Group, Saturday 15th October 2005 1. INTRODUCTION 1.1 Expert witnesses assist the courts and various other tribunals in a variety of...

Sixth Circuit Holds Acquisition of Non-Controlling Partial Ownership Interest in Competitor May Violate Antitrust Laws.
November 1, 2005... An important - and largely unresolved - question in the antitrust law has been whether the acquisition of a partial, non-controlling, ownership interest in a competitor raises serious issues under the Clayton Act. On October 25, 2005, the...

Canadian Tax @ Gowlings.
November 1, 2005... Edited by Mr Vince F. Imerti Landmark Decisions in Canadian Tax Law In 1988 the Canadian Minister of Finance announced a proposal to introduce into Canadian tax law a legislated anti-avoidance rule of general application. This rule has...

The Times, They Are A-Changing:The Evolving Workplace Dating Policy.
November 1, 2005... In the not too distant past, most employers adopted policies forbidding workplace relationships on the premise that such relationships were - intrinsically - inappropriate and against the employer's interest. The evolving workplace, however,...

IRS and FTB Clear Way for Vacation Pay Donations for Victims of Hurricane Katrina.(Internal Revenue Service)(Franchise Tax Board)
November 1, 2005... Both the Internal Revenue Service (IRS) and the California Franchise Tax Board (FTB) have announced programs to encourage additional contributions to support victims of last month's Hurricane Katrina. Under the IRS program (see Notice...

Intellectual Property: How can it add Value to Your Business?
November 1, 2005... Business Week magazine recently published that the Coca-Cola trademark has been valued in $70,450 million dollars. This amount that represents the biggest percentage of its capital; however, said intangible asset wouldn't be worth anything...

Is a Living Annuity an Annuity?(Brief Article)
November 1, 2005... A far-reaching judgment was recently given by the Cape Tax Court dealing with the fiscal consequences of a taxpayer acquiring a so-called living annuity. In particular, the taxpayer invested an amount of approximately R6million into a life...

A Month in Money Laundering - September 2005.
November 1, 2005... Welcome to the September 2005 edition of A Month in Money Laundering This edition includes news on the Royal Institute of Chartered Surveyors (RICS) in the United Kingdom lobbying the UK Government to allow RICS to regulate estate agents...

Private Company Stock Option Pricing In The 409A Era.
November 2, 2005... Article by Dan Meehan, Buff Miller, Bill Morrow, Susan Philpot, Thomas Reicher, David Walsh & Thomas Welk Originally published 10 Oct 2005 We expect recently-issued proposed regulations under Section 409A of the Internal Revenue Code,...

New Rules for Qualified Plans Automatic Rollovers of Involuntary Cash-Outs.
November 2, 2005... The Economic Growth and Tax Relief Reconciliation Act of 2001 added a new rollover requirement for tax-qualified retirement plans that make involuntary cash-outs of small benefits. The Internal Revenue Service recently issued guidance on how...

Experimental Use Exception To Patent Infringement In Canada.
November 2, 2005... Article by Sheldon Burshtein, [c]2005 Blake, Cassels & Graydon LLP This article was originally published in Blakes Bulletin on Intellectual Property, October 2005. Significant research and development is conducted in Canada,...

TIME Awarded Exemplary Damages In India.(Time Incorporated V. Lokesh Srivastava & Anr 2005)
November 2, 2005... The case of Time Incorporated V. Lokesh Srivastava & Anr 2005 (30) PTC 3 (del) is of significance from the perspective of the extent and nature of relief awarded by the Court in infringement proceedings. It facilitates the philosophy of...

FDIC Amends Rule Authorizing FDIC - Insured Banks without Trust Powers to Offer Additional Tax-Advantaged Accounts.(Federal Deposit Insurance Corporation )
November 2, 2005... Contents Developments of Note 1. Goodwin Procter and RMA to Conduct Webinar on Basel IA 2. FDIC Amends Rule Authorizing FDIC - Insured Banks without Trust Powers to Offer Additional Tax-Advantaged Accounts 3. SEC Issues...

Executives Confront New Extradition Threat.
November 2, 2005... This article originally appeared in the September 2005 issue of International Financial Law Review. Alistair Graham and Larry Byrne, who act for a UK executive facing extradition to the US over price-fixing claims, argue that the new...

Effective Management of U.S. Patent Litigation.
November 2, 2005... Introduction Patent litigation in the U.S. has always been a very difficult type of litigation. Not only are the underlying facts generally more complex compared to other types of litigation, but the application of those facts to U.S....

Effective Management of U.S. Patent Litigation - Continued.
November 2, 2005... Willful Infringement Under the U.S. Patent Laws "Willful infringement" of a U.S. patent, while not precisely defined by the courts, embodies the notion that the courts will punish those who have intentionally or deliberately disregarded the...

Are you leaking value? - Third Party Assurance.
November 2, 2005... It's your business. Don't give it away In today's business world, organisations are experiencing considerable leakage of value by not having critical business relationships aligned and working well. Are your activities fitting snugly with...

Canadian Trust Controversies: Implications For Foreign Investors Or Acquirers.
November 2, 2005... Reprinted from Tax Notes Int'l, October 24, 2005, p. 375 Volume 40, Number 4 October 24, 2005 (C) Tax Analysts 2005. All rights reserved. Tax Analysts does not claim copyright in any public domain or third party content. The author...

Horizons - International News for Employers and International Secondees.
November 2, 2005... Netherlands: New decree on the 30% tax ruling Assignees to the Netherlands who meet the qualifying conditions can apply to have 30% of their remuneration exempted from Dutch income tax. Previously the 30% ruling could be applied for by...

Trends In Post A-Day Executive Pensions.
November 2, 2005... Article by Bill Cohen, Orlando Harvey Wood, Feargus Mitchell & Neil Campbell Introduction With just six months to go before the start of the new simplified tax regime for UK pensions on 6 April 2006 (A-Day) many employers are...

No Free Lunches.
November 2, 2005... The South African law on corruption has its roots in a Dutch plakaat of July 1651 which provided that- "certain -. dangerous and mischievous persons do to the -. contempt of the Supreme Government - so much embolden themselves, that,...

Employer Alert: Identity Theft Issues Enter the Workplace.
November 2, 2005... New requirements effective January 1, 2006 Acting Governor Richard J. Codey signed into law the New Jersey Identity Theft Prevention Act ("Act") on September 22, 2005. The Act, which takes effect on January 1, 2006, amends and supplements...

Participation Exemption Rules Eased.
November 2, 2005... South Africa has comprehensive controlled foreign company ("CFC") rules in its law. An important exemption is the business establishment exemption, whereby provided there is a real and substantial qualifying business establishment, suitably...

FERC Issues NOPR On Energy Market Manipulation.
November 2, 2005... Originally published November 1 2005 On October 20, 2005, the Federal Energy Regulatory Commission ("FERC") issued a Notice of Proposed Rulemaking ("NOPR") seeking comment on proposed rules to prohibit the employment of manipulative or...

Top 10 Things to Know About IP Portfolios.
November 2, 2005... When framing the Constitution, America's founding fathers recognized the significance and value of intellectual property and included its protection as a fundamental tenet of the nation's legal system: "The Congress shall have Power...To...

Pensions Regulator's approach to scheme funding.
November 2, 2005... The Pensions Regulator has just published a consultation paper explaining how it plans to regulate the new scheme funding requirements due to come into force by the end of December 2005. The Regulator says that it will focus on those...

Judgment By The Constitutional Court In Respect Of The Medicine Pricing Regulations: A Recipe (Perhaps)?
November 2, 2005... There has been much comment in the media following the judgment by the Constitutional Court on medicine pricing. The judgment was decided on 30 September 2005 and during October 2005 newspapers, magazines and the Internet have been inundated...

Out Goes Development, In Come the Risks.
November 2, 2005... Outsourcing development - particularly software programming and information-technology (IT) design, and particularly to countries like India and China - has become institutionalized. Once-loud voices decrying "Benedict Arnold CEOs" have grown...

Transfer Pricing Documentation Requirements Clarified.
November 2, 2005... The enabling legislation to bring the transfer pricing and thin capitalisation rules into the South African Income Tax Act was passed in 1995. In 1999 the South African Revenue Service (SARS) issued a comprehensive practice note setting out...

Employee privacy and powers of the employer.
November 2, 2005... On May 17, 2005 the Supreme Court delivered a particularly innovative judgment, which extends employers' powers to monitor personal files saved by employees to their computer's hard drive at work. In the famous Nikon decision, the...

Bahamas Funds and The EUSD.(EU Savings Directive)
November 2, 2005... The EU Savings Directive ("EUSD") which subjects savings income in the form of interest payments made in one Member State to beneficial owners who are individuals resident for tax purposes in another Member State to effective taxation in...

German Competition Authority Imposes Cartel Fines In Insurance Sector.
November 2, 2005... The German competition authority (Bundeskartellamt) has found that seven insurance companies participated in a price-fixing cartel and imposed fines totaling more than 20 million against the companies and their directors1. The findings relate...

Federal Court Dismisses Identity Theft Class Action Suit Following Theft Of Computers From Government Contractor.
November 2, 2005... Article by Alan Charles Raul*, Edward R. McNicholas, Julie M. Dwyer In a victory for a company facing potential identity theft liability, a federal district court has dismissed a class action that alleged harm stemming from the presence of...

European Commission Inquiry Into Business Insurance Sector.
November 2, 2005... Regulatory scrutiny of the business insurance industry has spread across the Atlantic to the European Union. In addition to the investigation opened in the United States by the National Association of Insurance Commissioners (see our Client...

Climate Change Litigation - Recent Developments.
November 2, 2005... In the absence of mandatory federal limits on greenhouse gas emissions, states and advocacy groups have turned their attention to the courts to achieve their goals. Three recent decisions provide an indication of what is to come. These cases...

Pro Swing Drives Foreign Judgments Forward.
November 2, 2005... Article by Pauline Wong, [c]2005 Blake, Cassels & Graydon LLP This article was originally published in Blakes Bulletin on Intellectual Property, October 2005 Canadian courts have long held that injunctions granted in foreign courts...

Quadricycle Versions Of ATVS Now Available From BRP.
November 2, 2005... Jets Marivent, UK and Eire sole distributor of Bombardier Recreational Products (BRP), is pleased to announce the introduction of Quadricycle versions of its 2006 range of BOMBARDIER* All Terrain Vehicles (ATVs). The Quadricycle package enables...

Robertson Capital Projects Celebrates Preferred Bidder Status in Joint Venture Partnership with Sir Robert McAlpine in [pounds sterling]85 million Dundee Schools Contract.
November 2, 2005... Robertson Capital Projects today celebrated the announcement that it has been chosen as 'preferred bidder' by Dundee City Council under a joint venture partnership with Sir Robert McAlpine Ltd, to embark on a [pounds sterling]85 million schools...

TUC Launches Rights Guide For Apprentices.
November 2, 2005... The TUC today (Thursday) launches a guide to help young people involved in apprenticeship programmes get a better deal at work. 'Your rights as an apprentice' outlines the different types of programmes available and what exactly is offered in...

Mobile Operators Pushing Ahead With IMS (IP Multimedia Subsystem).
November 2, 2005... IMS (IP Multimedia Subsystem) deployments are underway and set to gather momentum, but the roll-out risks being delayed by a lack of cohesion on standards. This was the opinion of some of the telecoms industry's foremost experts gathered at...

Rok Backs Stop That Noise Week.
November 2, 2005... Glasgow builder, Rok, is backing the drive to reduce excessive noise levels in the workplace which was the focus of last week's European Safety Campaign Stop That Noise. Approximately one third of workers in Europe are exposed to potentially...

Hepworth Offer Free Chain Cutter.(Brief Article)
November 2, 2005... Recent research has shown that many installers are not using the right tools to cut their clay pipes, so Hepworth are running a promotion which allows new customers to pick up a free 100mm pipe cutter to encourage best practice. The move is...

Marine Archaeology To Be Better Protected By New Protocol.(developed by English Heritage and the British Marine Aggregate Producers' Association)
November 2, 2005... England's dredging industry has just signed up to a ground-breaking national reporting system developed in partnership by English Heritage and the British Marine Aggregate Producers' Association (BMAPA), which aims to protect archaeological...

Atkins Unveil Report Set To Prepare London's Transport Systems For Climate Change.
November 2, 2005... A new report on the effects of climate change on London's transport systems conducted by Atkins, Europe's largest transportation consultancy, has been launched by The Deputy Mayor of London Nicky Gavron and the Chair of the London Climate...

May Gurney Contributes To Better Water Management.(Brief Article)
November 2, 2005... May Gurney Utility Services has recently been awarded two new long term water network framework contracts in the south east of England. Work recently started on delivery for Folkestone & Dover Water, part of the Veolia Water group, which helps...

Chinese Architects Tour The Best Of Manchester's 'Eco' Regeneration Projects.
November 2, 2005... A team of leading Chinese architects arrived in Manchester on a fact-finding tour today (THURSDAY, October 27) to learn about the best in sustainable redevelopment in the city. The 15-strong delegation are visiting the national regeneration...

Accsys Technologies Placing and Admission to AIM.
November 2, 2005... Accsys Technologies PLC ("Accsys" or "the Company") was today admitted to trading on AIM following a Placing of 27 million new Ordinary Shares at a price of [euro]1.00 per Share to raise [euro]27m before expenses. Collins Stewart Limited is...

Pinsent Masons Advises Kent County Council On [pounds sterling]100 Million Schools PFI.
November 2, 2005... PFI specialists at law firm Pinsent Masons have advised Kent County Council on the successful completion of a schools PFI project. The capital value of the project is approximately [pounds sterling]100 million and stretches across six school...

[pounds sterling]65 Million "Key To The Capital" Scheme For Hunters.(Brief Article)
November 2, 2005... Hunter & Partners has been appointed as architect and project managers responsible for the delivery of one of the largest key worker and affordable/shared equity housing schemes in the UK - worth in excess of [pounds sterling]65 million. The St...

New RIBA Approved CPD From Twyford Bushboard!(Brief Article)
November 2, 2005... Twyford Bushboards have a brand new RIBA Approved CPD presentation which aims to inform architects how the Building Regulations, Part M, the DDA and BS8300 affect washroom design. The well-illustrated 40 minute presentation draws together the...

Norwest Holst Awarded [pounds sterling]6.9 Million Contract by Network Rail.(Brief Article)
November 2, 2005... The Civil Engineering division of Norwest Holst Construction Limited has been awarded a [pounds sterling]6.9 million contract by Network Rail, the first bridge widening contract to be let as part of the Trent Valley Four Tracking of the West...

Business Goes Through The Roof For Fordingbridge.(doubling its production capacity)(Brief Article)
November 2, 2005... Curved roof specialist Fordingbridge has nearly doubled its manufacturing capacity this year in response to rising demand. Additional staffing, investment in new machinery and expansion of the manufacturing area have all increased capability at...

6.5 Million British Workers Are Still Not Contributing To A Pension.
November 2, 2005... In spite of ever increasing publicity on the state of pension provision in the UK, over one in three full-time workers are still not contributing to a pension. Independent research conducted for B&CE Benefit Schemes, the UK's leading...

Artisan (UK) plc Residential Land Purchase.(Brief Article)
November 2, 2005... Rippon, the residential housing subsidiary of Artisan (UK) plc, announces it has completed arrangements for the purchase of a major site in Mansfield. Work on Phase I will be commencing immediately. The purchase contract provides for the...

Over One Million Square Metres Of B&Q Floors Laid With Remmers.(Brief Article)
November 2, 2005... Recently Remmers have recently completed the supply of more than one million square metres of flooring for B&Q Stores which has been installed over the last ten years. The 'super fast' curing Remmers epoxy floor systems have been applied by...

Impressive Performance Leads To Repeat JCB Sales.(JCB Excavators Ltd.)
November 2, 2005... A South Wales Groundworks contractor has purchased a new JCB JS220 tracked excavator following the excellent track record of its smaller 13-tonne stable mate, which arrived earlier this year. Wentloog based, Philip Lacey Groundworks purchased...

Amicus Demands Reinstatement Of Second 'Whistleblower'.
November 2, 2005... 24 October 2005 - Amicus is demanding the reinstatement of one of its members suspended by Leeds Mental Health Trust. The union says it believes that two leading members of staff, who are both members of Amicus, are being victimised because...

Birmingham PFI: Trouble Looms For Bidders.
November 2, 2005... Amicus trade union is balloting its members for strike action in Birmingham City Council over plans to privatise its highways services. 17 October 2005 - Amicus is opposing plans by the council to outsource the city's highways, street lighting,...

Consensus On People Development.(Consensus Recruitment's services for construction workers)
November 2, 2005... Consensus Recruitment's groundbreaking people development programme has received unprecedented praise from the industry body. The specialist construction recruiter's scheme has been described by the Recruitment and Employment Confederation's...

Builder Big On Safety.
November 2, 2005... FIRST Minister for Wales, Rt Hon Rhodri Morgan, plays it safe in 'Ty Redrow' as part of a visit to a dynamic safety education centre for children. The First Minister officially opened DangerPoint - an interactive educational resource designed...

Safe And Sound - Enhancing Your IT Audit Capabilities.
November 3, 2005... Business performance relies upon the controlled operation of information technology, spanning from a legacy mainframe through to "bleeding edge" bespoke web applications. At the same time an organisation is constantly challenged with an...

Employers May Not Refuse to Reinstate Sarbanes-Oxley Whistleblowers While Pursuing an Appeal.(Competitive Technologies, Inc Vs Scott Bechtel and Willie Jacques )
November 3, 2005... A Connecticut federal court recently held, in Bechtel v. Competitive Techs., Inc., that a Connecticut technology company must reinstate two whistleblowers while it appealed a decision of the Secretary of Labor under the Sarbanes-Oxley Act. ...

FMLA Leave "To Care For A 'Parent'" Has New Meaning.(Family and Medical Leave Act)
November 3, 2005... By F. Denise Russell (San Antonio) Originally published October 2005 The Family and Medical Leave Act (FMLA) allows an eligible employee to take up to 12 weeks of leave in order to care for a parent with a serious health condition. A...

Are Major Changes in Store for the U.S. Patent System?(Patent Reform Act of 2005)
November 3, 2005... By Roland H. Schwillinski and Benjamin Hershkowit In April, the House Subcommittee on Courts, the Internet, and Intellectual Property released draft patent reform legislation known as the "Patent Reform Act of 2005, HR2795." This...

New IRS Guidance Requires Prompt Action on Non-Qualified Deferred Compensation Arrangements.
November 3, 2005... By Marian A. Tse, Matthew T. Giuliani, Daniel P. Condon, Scott A. Webster and Kristina Hansen Wardwell Originally published October 28, 2005 Contents Specific Action Items for 2005 and 2006 Brief Overview of Section 409A...

Does Canada Deserve to be on the USTR's Intellectual Property Watch List?(United States Trade Representative)
November 3, 2005... Published in The Metropolitan Corporate Counsel, June 2005. Each year, the Office of the United States Trade Representative (USTR) issues a report identifying foreign countries that, in its view, deny adequate and effective protection of...

New Canadian Consumer Advertising Guidelines for Marketed Health Products.(Reprint)
November 3, 2005... This article first appeared in the July/August 2005 issue of Update. Reprinted with the permission of the Food and Drug Law Institute (c) 2005. Health Canada, in collaboration with Advertising Standards Canada, has developed draft...

Amendments in the Regulations Concerning Insiders.
November 3, 2005... Amendments effective as of 1 July 2005 have been introduced in the Finnish Securities Markets Act, Act on Financial Supervision, and certain other acts (HE 137/2004). A transition period is set for certain regulations. The amendments in...

Lithuania prepares for the transposition of the E-commerce directive.
November 3, 2005... The Lithuanian e-commerce framework is not based on the adoption of specific laws, but rather finds its origins in the general norms of private law, consumer protection law, data protection law, etc. However, keeping in mind the EU's...

COSO Issues Draft Guidance for Smaller Businesses - Relief from High SOXA Costs.(Committee of Sponsoring Organizations of the Treadway Commission )
November 3, 2005... The Committee of Sponsoring Organizations of the Treadway Commission ("COSO") has released an important new exposure draft of "Guidance for Smaller Public Companies Reporting on Internal Control over Financial Reporting." This draft guidance...

A New World of Public Company Exposure.
November 3, 2005... Changes to Securities Law will generate new exposures and challenges for public companies, their officers, directors, advisors and insurers. By the time this article has gone to print, one of the most significant changes in Canadian...

A New Parental Insurance Programme for Quebec.
November 3, 2005... This article originally appeared in the November 4, 2005 issue of The Lawyers Weekly. Effective January 1, 2006, a new parental insurance programme exclusive to Quebec will be accessible to parents of newborn or adopted children in that...

The Preservation Of Lien Rights In Insolvency Proceedings.
November 3, 2005... This article originally appeared in the September 16th issue of The Lawyers Weekly Most insolvency practitioners will likely agree that in the context of receivership or bankruptcy proceedings, the issue of priorities of the interests of...

Gowlings Program to Facilitate Sustainable Development in Canadian Cities.
November 3, 2005... Sustainable Urban Solutions designed to create livable communities by connecting municipalities and project partners October 13, 2005 - Ottawa, ON - Gowling Lafleur Henderson LLP (Gowlings) today launched Sustainable Urban Solutions, a...

National Law Firm Recruits CRA Experts to Help Canadian Multinationals Navigate Complex Cross-Border Tax Regulations.(Canada Revenue Agency)
November 3, 2005... Avoiding Double Taxation and Non- Compliance Penalties Among Key Benefits to Gowlings Clients Ottawa (May 31, 2005) - In a bold move to further broaden the definition of "full service", Gowling Lafleur Henderson LLP (Gowlings), Canada's...

Proposed Cost Sharing Regulations: New Requirement for Perpetual, Exclusive Territorial Rights.
November 3, 2005... Originally published October 2005 On August 22, 2005, the U.S. Treasury issued proposed regulations with sweeping changes to the rules for cost sharing arrangements under Treas. Reg. sec. 1.482-7. Primarily focused on the perceived...

Transfer Pricing and Deemed Dividends - Have These Anti-Avoidance Measures Gone too far.
November 3, 2005... Few international and multinational companies in South Africa have escaped a section 31 transfer pricing examination by the South African Revenue Service ("SARS"). A South African company which falls foul of that section faces not only a tax...

EPA Publishes Final Rule on All Appropriate Inquiries.
November 3, 2005... On November 1, 2005, the Environmental Protection Agency published its long-awaited final rule setting federal standards for the conduct of all appropriate inquiries. 70 Fed. Reg. 66070 (Nov. 1, 2005). "All appropriate inquiries" is the process...

The Impact Of The USA PATRIOT Act In Canada.
November 3, 2005... The USA PATRIOT Act--short for the "Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001"--is intended to facilitate the fight against terrorism. As originally passed, sixteen...

The Line Is Far From Bright.
November 3, 2005... The Supreme Court of Canada (SCC) yesterday released its decisions in Canada Trustco Mortgage Co. v. Canada ("Canada Trustco") and Mathew v. Canada ("Mathew"), the first two cases it has heard regarding the general anti-avoidance rule (GAAR)...

Merger Settlements In Canada: Recent Developments.
November 3, 2005... Introduction The Canadian Competition Act (the "Act") authorizes the Commissioner of Competition (the "Commissioner"), who heads the Competition Bureau (the "Bureau"), to challenge merger transactions that are likely to "prevent or lessen...

University-Industry Collaboration and Technology Transfer.
November 4, 2005... By Mr Ben Rapinoja and Ms Aura Soininen Abstract Universities lie in the core of successful, leading economies in the world. They have traditionally been thought of as the places for higher education and basic research, but serve...

Treasury Department Releases Final Rules Applying U.S. Patriot Act to Certain Insurance Companies.
November 4, 2005... By Mr Kevin G. Fitzgerald, Mr Thomas R. Hrdlick and Mr Kenyatta Bolden Overview The application of the USA PATRIOT ACT of 2001 (the "Patriot Act") to the insurance industry became clear on October 28, 2005, when the Treasury...