Developers’ Right to Terminate off Plan Sales to Defaulting Buyers. No Court Order Needed
Property developers in the UAE can bypass the courts and terminate contracts. In such an event, the developer shall notify the Dubai Land Department (DLD) of the buyer’s default. Our Associate, Dr. Laura Voda talks about the procedures with timelines that are to be complied with by a developer prior to termination. In 2017, His …
Malta Individual Investor Programme (MIIP) Has Reached Its Cap
As most people are aware, when enacted back in 2014 the Malta Individual Investor Programme (hereinafter ‘MIIP’) which grants Citizenship by Investment in Malta, stated that the number of successful main applicants, shall not exceed one thousand and eight hundred (1,800) for the whole duration of the Programme. This week the Malta Individual Investor Programme …
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MHA Order of May 17, 2020 – Impact on wage payment obligation
May 20, 2020 In wake of lockdown 4.0, the Ministry of Home Affairs (MHA) vide its Order dated May 17, 2020 (Order) provided for all orders issued by the National Executive Committee (NEC) under Section 10(2)(l) of the Disaster Management Act, 2005 (DMA) to cease to have effect from May 18, 2020, save as otherwise …
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Force Majeure in government contracts and Public Private Partnerships May 18 2020
Ministry of Finance issues office memorandum for force majeure The Government of India, through the Procurement Policy Division, Department of Expenditure at the Ministry of Finance (MoF), has recently issued an office memorandum on May 13, 2020 (O.M. No. F. 18/4/2020-PDD) pertaining to force majeure (MoF Memorandum). The MoF Memorandum seeks to provide relief to …
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10 key takeaways from INR 20 lakh crore economic relief package | May 14, 2020
In a speech that echoed and amplified PM Modi’s ‘Atmanirbhar Bharat’ (Resilient India) approach, India’s Union Finance Minister (FM) on Wednesday announced a slew of measures to help businesses recover from impact of Covid-19 outbreak. These measures, when included with the earlier steps announced by finance minister and Reserve Bank of India, will be worth …
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Deployment of blockchain technology to minimize investment risks in India’s power sector – Ground Zero
Authored by: Nived Veerapaneni
FIAU Proposes Amendments to the Implementing Procedures
The Financial Intelligence Analysis Unit (FIAU) has proposed a series of amendments to Part I of the Implementing Procedures issued under the Prevention of Money Laundering and Funding of Terrorism Regulations (Subsidiary Legislation 373.01). These proposed amendments seek to make certain obligations more practicable particularly for the funds industry.
Company Liquidation: terminating an LLC in Ukraine
The company liquidation is a complex and often long-term process requiring the legislation knowledge and development of a clear and step-by-step plan for winding-up. The company liquidation period in Ukraine depends on just how each step is prepared and complies with the applicable legislation. When liquidating a legal entity, it should be noted that it …
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Land Market Opening in Ukraine
On 31 March 2020, the Parliament of Ukraine adopted the Law On Amendments to Some Legislative Acts of Ukraine on the Agricultural Land Circulation. This Law shall introduce the land market in Ukraine from 1 July 2021. Since the date of the Law coming into effect, agricultural land owners shall be entitled to sell their …
IMPACT OF COVID-19 ON TAX RESIDENCY OF AN INDIVIDUAL
Financial Year 2019-2020 came to an end on March 31, 2020 with several nations of the world suspending air travel and closing borders to prevent spread of COVID-19 which caused mayhem in the last quarter. India was no exception, as the Government of India imposed lockdown with effect from March 25, 2020 leaving number of …
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