Korea Implements New Act on Special Measures for Strengthening and Protecting Competitiveness of National High-Tech Strategic Industries
Korea’s Act on Special Measures for Strengthening and Protecting Competitiveness of National High-Tech Strategic Industries (the Special Act) has been implemented with its accompanying Enforcement Decrees and Enforcement Rules. The Special Act aims to: (1) maintain national and economic security; (2) protect and foster strategic technologies; and (3) enhance the competitiveness of Korea’s high-tech industry.
Explained: Is it legal to claim unclaimed account funds from international banks?
In the United Arab Emirates, there are rules which regulate the handling of dormant accounts and unclaimed balances. These regulations are called the Central Bank Circular No. 1 of 2020 (Bank Regulations), issued by the Central Bank of the UAE. The Bank Regulations have been issued in accordance with the Federal Decree Law No. 14 …
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What you need to know about smuggling of products in the UAE?
In common language, smuggling is understood as the illegal import or export of products into or out of a country. In the UAE, the law governing smuggling is the Federal Decree No. 15 of 2022 On the Ratification of the Common Customs Law of the Cooperation Council for the Arab States of the Gulf and …
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LEARN MORE: PROCEDURES IN FILING A CASE FOR MONEY LAUNDERING IN THE UAE COURTS
Money laundering and related illegal activities are considered a threat not only to the economic stability of a nation, but also have the potential to weaken financial institutions and lead to an increase in crime and corruption, amongst others.
Law on Family Matters for Expatriates living in the UAE: Part V
In this final Part V of the series on family law matters for expats in the UAE, we continue to understand the key changes brought by the new law in the Emirates of Abu Dhabi, which has significant implications on non-Muslim locals and expats in Abu Dhabi.
What are the Punishments for Beggars and Unlicensed Charities in the UAE?
The United Arab Emirates has strict laws against begging and fundraising through unlicensed charities, which have been introduced and amended to preserve the image of the UAE, fight begging and organized begging, prevent funds from risks of being exploited in financing terrorism, and protect the interest of the donors of funds.
The Elephant in the Room: India’s Place in the International Investment Regime
A recent Delhi High Court judgement, issued on August 29, 2022 (the “August verdict”),[1] set aside an arbitral award rendered in 2015 by the International Chamber of Commerce (“ICC”)[2] in respect of the protracted Antrix-Devas dispute. While the August verdict is being hailed as a significant win for the Indian government, it also presents an …
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New Overseas Investments Regime in India
On August 22, 2022, the Government of India issued the much-awaited revised rules, regulations and directions applicable to overseas investments by Indian entities and individuals. These include: (i) the Foreign Exchange Management (Overseas Investment) Rules, 2022 (the “Overseas Investments Rules”) issued by the Ministry of Finance, Government of India; (ii) the Foreign Exchange Management (Overseas …
Bank Guarantees and Employee’s Protection Insurance Schemes
On 20th September 2021, the Federal Decree Law No. 33 of 2021 (the “Federal Labor Law”) was issued, which superseded the abrogated Federal Law No. 8 of 1980 on Labor Relations. The Federal Labor Law came into force on 2nd February 2022 and currently, governs the labor/ employment relations in the UAE.
PRE-LITIGATION MEDITATION- A CATALYST OF CHANGE FOR LEGAL REFORMS
“… Pre-litigation mediation is the need of the hour to avoid delaying justice and for early disposal of pending cases, which are mounting. I think the time is ripe to devise a comprehensive legislation, which contains compulsory pre- litigation mediation…” Mr. S A. Bobde, Former Chief Justice of India