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Why the Siemens – Alstom rail merger was prohibited by law
A European Commission decision of 6 February 2019 caused a big political stir. The European Commission based its prohibition of Siemens’ proposed takeover of Alstom’s rolling stock sector on the E...
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- Why the Siemens – Alstom rail merger was prohibited by law
Compliance systems regarding public procurement law
IntroductionThe announced 2018 Federal Procurement Act will bring about numerous significant changes relevant to both contracting authorities and bidders. The revision of the existing law will focus o...
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- Compliance systems regarding public procurement law
Viennese Building Code
New Building Regulations have been in force in Vienna since this year. They are aimed at making housing more ‘affordable’. As a consequence, the market for affordable living quarters will grow. S...
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- Viennese Building Code
Get ready for the expanded AML rules
As one of the responses to the Panama Papers revelations, the European Commission has prioritized the fight against money laundering and terrorism financing. The 5th Anti-Money Laundering Directive (...
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- Get ready for the expanded AML rules
The Austrian Location Development Act (StEntG) – faster proceedings and some uncertainties
As from 1 March 2019, contracting entities have to meet the following new reporting and publication obligations introduced under the 2018 Federal Procurement Act (Bundesvergabegesetz 2018 (“BVergG ...
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- The Austrian Location Development Act (StEntG) – faster proceedings and some uncertainties
The Austrian Location Development Act (StEntG)
1 January 2019 saw the entry into force of the Austrian Federal Act on the Development and Further Development of the Position of Austria as a Business Location (the so-called Location Development Act...
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- The Austrian Location Development Act (StEntG)
Capital Maintenance Rules in Austria – Investors Beware
Whereas in other European countries such as Germany less strict rules apply, Austrian capital maintenance law is characterized by very strict capital retention rules. The severity of these rules carri...
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- Capital Maintenance Rules in Austria – Investors Beware
The Second Protection of Adults Act: A revision of the representation system for adults
With the Second Protection of Adults Act (2. Erwachsenenschutz-Gesetz – 2. Erw- SchG) entering into force on 1 July 2018, the representation system for adults will have been re-vised based on a so-c...
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- The Second Protection of Adults Act: A revision of the representation system for adults
The Austrian Federal Procurement Act of 2018 is coming (soon)
On 21 March 2018 – almost four years after the publication of the EU Procurement Directives package relating to new Union procurement law and nearly two years after the expiry of the relevant transp...
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- The Austrian Federal Procurement Act of 2018 is coming (soon)
BTVG: Trustees not liable for interest, says Austrian Supreme Court
The Austrian Commercial Developer Act (Bauträgervertragsgesetz, BTVG) provides for draconian (penalty) interest: Interest in the amount of 8% above the base rate is to be paid if payments to real est...
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- BTVG: Trustees not liable for interest, says Austrian Supreme Court
Geoblocking
Online shopping and the use of streaming services are getting more and more popular all over the world. In spite of the virtual, no-limits character of the Internet, e-commerce and online streaming ar...
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- Geoblocking
Constitutional Court confirms constitutionality of FMA imposing high fines
Capital market participants had high hopes that two petitions for judicial review filed by the Austrian Federal Administrative Court (Bundesverwaltungsgericht, BVwG) with the Austrian Constitutional C...
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- Constitutional Court confirms constitutionality of FMA imposing high fines
Procurement law compliance – take two: Increased “self-cleansing” requirements
Contracting authorities are faced with new procurement law compliance requirements under the recently adopted 2018 Federal Procurement Act (Bundesvergabegesetz 2018, BVergG 2018). For instance, the au...
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- Procurement law compliance – take two: Increased “self-cleansing” requirements
On the necessity of compliance systems regarding public procurement law pursuant to the Federal Procurement Act of 2018 (Bundesvergabegesetz 2018 or ‘BVergG 2018’)
The announced 2018 Federal Procurement Act will bring about numerous significant changes relevant to both contracting authorities and bidders. The revision of the existing law will focus on dealing wi...
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- On the necessity of compliance systems regarding public procurement law pursuant to the Federal Procurement Act of 2018 (Bundesvergabegesetz 2018 o...
Social insurance: No double burden on intra-group managing directors of limited liability companies
Hiring out personnel of a group company (the leasing company) to other group companies (hirer companies) is usual practice in groups of companies. In the past, this practice also included managing dir...
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- Social insurance: No double burden on intra-group managing directors of limited liability companies
Guidance for transaction value thresholds concerning the filing requirement for proposed mergers
The 2017 Act Amending Antitrust and Competition Law (Kartell- und Wettbewerbsrechtsänderungsgesetz 2017) introduced new regulations concerning the threshold values applying in the field of merger con...
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- Guidance for transaction value thresholds concerning the filing requirement for proposed mergers
ATM fees to be borne by the clients
When Euronet entered the Austrian market as an operator of ATMs and charged fees for cash withdrawals, consumer protection associations tried, by suing Austrian banks, to pass the payment of such fees...
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- ATM fees to be borne by the clients
Landmark Supreme Court judgment complicates neighbourhood surcharge
By setting out new rules for the neighbourhood surcharge, the Supreme Court (Oberster Gerichtshof, OGH) changes, especially for Vienna, one of the key princi-ples for the calculation of rent payable f...
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- Landmark Supreme Court judgment complicates neighbourhood surcharge
Key changes brought about by the Securities Supervision Act 2018
On the national level, the new EU Financial Markets Directive (MiFID II, [Directive 2014/65/EU]) has been implemented in the Securities Supervisions Act 2018 (Wertpapieraufsichtsgesetz, WAG 2018), amo...
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- Key changes brought about by the Securities Supervision Act 2018
Austrian Supreme Court confirms admissibility of crowdfunding based on qualified subordinated loans
Austrian Supreme Court confirms admissibility of crowdfunding based on qualified subordinated loansIn its recent decision on crowdfunding¹, the Austrian Supreme Court classified qualified subordinate...
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- Austrian Supreme Court confirms admissibility of crowdfunding based on qualified subordinated loans