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A & K Metaxopoulos & Partners Law Firm | 20 Sep 2021

Establishment and operation of CMOs in Greece

According to Law 4481/2017 on the collective management of copyright and related rights, "collective management organisations" (CMOs) are organisations that are authorised by law or by way of assignment, licence or any other contractual arrangement to manage copyright or related rights on behalf of more than one rights holder, for the collective benefit of those rights holders. This article......
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CMS Albiñana & Suárez de Lezo | Spain | 20 Sep 2021

Remuneration of managing directors: indirect conflict of interests at shareholders' meetings and retroactivity

The Supreme Court has clarified that a company's annual general meeting is not restricted to approving the remuneration of directors prior to the beginning of a given financial year and can make such approvals throughout the corresponding year. Moreover, the Court stated that such approvals do not imply the granting of a right and, therefore, the controlling shareholder who is also the......
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Clasis Law | India | 9 Aug 2021

Introduction to related party transactions under the Companies Act

Several amendments have been made to the Companies Act 2013 in the eight years since its implementation, but there is still a need for the Ministry of Corporate Affairs to specifically amend the related party transaction provisions and produce guidelines or rules that include proper explanations and methods of determining the "arm's length transaction" price.
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Solsidus Law | Cyprus | 9 Aug 2021

New Consumer Protection Law

The Consumer Protection Law (CPL) 2021, which recently came into force, has increased consumers' rights considerably and as such constitutes a significant reform of the previous legal regime in the field of consumer protection. There is no doubt that the implementation of the CPL will benefit not only consumers, who will enjoy an enhanced protection of their rights, but also businesses, since......
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Clasis Law | India | 19 Jul 2021

Board meeting rules eased amid covid-19 resurgence

The Ministry of Corporate Affairs recently issued a circular which, in view of the difficulties arising due to the resurgence of covid-19, allows companies to extend the period between board meetings by 60 days for the first two quarters of the 2021-2022 financial year. As a result of the amended rules, boards are now allowed to use videoconferencing or other audiovisual means to transact,......
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CMS Albiñana & Suárez de Lezo | Spain | 14 Jun 2021

General shareholders' meeting has sole authority to appoint auditor of voluntary consolidated accounts

In a recent decision, the General Directorate of Legal Affairs reiterated that the power to appoint an auditor of voluntary consolidated accounts lies with a company's general shareholders' meeting. This decision settles a company's appeal of a Jaen registrar's refusal to register its decision to appoint the auditor of its voluntary consolidated accounts because such decision had been issued......
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ARBLIT Radicati di Brozolo Sabatini Benedettelli Torsello | Italy | 8 Jun 2021

Case law on guarantees for defective goods in contracts of sale

The contract of sale has long been the most relevant legal instrument for the exchange of goods. Therefore, this basic transaction is subject to a series of special remedies aimed at ensuring its integrity. In 2019 the Joint Chambers of the Supreme Court of Cassation adopted two solutions. While both solutions seem desirable and reasonable, the judgments show some inconsistencies which will......
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Clasis Law | India | 7 Jun 2021

MCA21 Version 3.0

Finance Minister Nirmala Sitharaman announced in the Union Budget 2021 that the government would soon introduce a newer version of the MCA21 (MCA21 V3) in order to promote its ease of doing business initiative. Further, there have been news reports that the government is planning to launch a mobile app for corporate filings in order to reduce the compliance burden on companies in India. MCA21......
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Fieldfisher | United Kingdom | 7 Jun 2021

Parties which deliberately and wilfully breach contracts can rely on broad exclusion or limitation of liability clauses

A recent High Court case has provided reassurance that the courts will continue to respect and enforce clearly drafted exclusion and limitation of liability clauses, even broad ones, unless to do so would have the effect of excluding all liability for all breach or would reduce one party's obligations to a mere declaration of intent. This case highlights and reaffirms the importance of......
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Gorodissky & Partners | Russia | 4 Jun 2021

Range of benefits for companies domiciled in SARs significantly expanded

Numerous amendments to Federal Law 290-FZ on International Companies and International Funds recently entered into force, expanding the opportunities for international companies to redomicile to Russia and for international holding companies to enjoy tax benefits. This article examines the requirements around redomiciliation and the main amendments to the law.
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