Overview

Herbert Smith's general counsel update covers a variety of topics including the UK Supreme Court's ruling on arbitration, substantial changes to the UK takeover regime, collective redundancy and boardroom diversity. In addition, the latest sector-specific and international developments are covered.

CONTENTS 

Developments of general interest

Arbitration: UK Supreme Court ruling on arbitration - agreements not within the scope of UK anti-discrimination legislation

Corporate: Substantial changes to the UK takeover regime

Employment: TUPE level of post-transfer pay

Employment: Collective redundancy - employees cannot bring representative claims for protective awards

Employment: Boardroom diversity

Litigation: European Commission releases proposed European Account Preservation Order Regulation

Tax: Proposed statutory residence test (SRT)

Tax: Taxation of non-domiciled individuals

Tax: Controlled Foreign Companies (CFC)

Sector specific developments

Competition, regulation and trade: Parental liability presumption under EU competition rules can be rebutted but significant evidence needs to be provided

Construction: Concurrent delay - Adyard v SD Marine Services (TCC 11 April 2011)

Construction: Changes to the Construction Act and Scheme

Debt capital markets: European Commission publishes CRD IV legislative proposals

Finance: Publication of the Alternative Investment Fund Managers Directive and consultation paper on its implementing measures

Finance: Registration of company charges

FSA: ICB's final recommendations

FSA: Recovery and Resolution Plans (RRPs)

Pensions: Finance Act 2011 enacted

Real Estate: Court of Appeal permits GAGAs but rejects direct guarantees

International developments

China: China's M&A security reviews

Hong Kong: Hong Kong proposes insurance regulatory reforms to align itself with local and international regulatory practices

Hong Kong: 100% foreign ownership in call centre outsourcing is permitted under China's strict telecoms regulatory regime

Indonesia: Indonesia introduces new Currency Law

Indonesian: tax incentives - implementing regulation now in effect

Japan: Data security breaches: what is your liability?

Singapore: Major review of the Singapore Companies Act