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Urban development contracts in Vienna
Introduced into the Vienna Building Code by its 2014 Amendment (Bauordnungsnovelle 2014), the instrument referred to as urban development contract (städtebaulicher Vertrag) provides for the right of ...
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- Urban development contracts in Vienna
General Data Protection Regulation (‘GDPR’) – new rights and obligations for all actors
As from 25 May 2018, the GDPR will apply directly and replace current data protection legislation, viz. Directive 95/46/EC and the Austrian Data Protection Act of 2000 (Datenschutzgesetz 2000, DSG 20...
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- General Data Protection Regulation (‘GDPR’) – new rights and obligations for all actors
New rules for anti-trust proceedings
The dispute between the European Commission and Intel regarding the EUR 1.06 billion fine – at the time a record-breaking amount imposed on any single company – has been going on since 2009 and is...
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- New rules for anti-trust proceedings
Brexit puts an end to “Austrian” limited companies
The United Kingdom’s exit from the EU is scheduled to take effect as of 29 March 2019. While the political negotiations on ending the old and shaping the new relationships are under way, the outcome...
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- Brexit puts an end to “Austrian” limited companies
Commercial agents law: Indemnity upon disposal of a company
Concept of commercial agentThe Austrian Commercial Agents Act (Handelsvertretergesetz, HVertrG) regulates the contractual relations between principals and self-employed commercial agents.Commercial ag...
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- Commercial agents law: Indemnity upon disposal of a company
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
Brexit – new legal challenges for Austrian entrepreneurs
On 23 June 2016, the British people voted in favour of Great Britain leaving the European Union. This decision, which came as a surprise to many in spite of opinion poll results, is going to entail fa...
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- Brexit – new legal challenges for Austrian entrepreneurs
2017 Trade Regulation Act Amendment: Some ad-vantages for tradespeople.
On 29 June 2017, the Austrian National Council enacted an amendment to the Trade Regulation Act (Gewerbeordnung, GewO). The new features adopted fall into three categories; they will enter into force ...
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- 2017 Trade Regulation Act Amendment: Some ad-vantages for tradespeople.
The PRIIP REGULATION
Standardised key information documents for packaged retail and insurance-based investment productsAs early as in 2014, the Council and the European Parliament agreed on the Regulation on key informati...
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- The PRIIP REGULATION
Market abuse rules are being expanded and tightened significantly
3 July 2016 sees the entry into force of the most radical legal changes the Austrian (and European) capital markets have been subjected to in years. The Market Abuse Regulation now provides for a unif...
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- Market abuse rules are being expanded and tightened significantly
Impact of the corona virus: civil law
Dealing with the spread of the virus and the (global) government measures have a far-reaching impact also on the Austrian economy. From a legal perspective, companies are confronted with issues includ...
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- Impact of the corona virus: civil law
The new Financial Market Money Laundering Act
The statutory due diligence obligations of credit and financial institutions concerning the combating of money laundering and terrorism financing are stipulated in Sec 40 seq of the Austrian Federal B...
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- The new Financial Market Money Laundering Act
Identity verification standards for credit institutions under the Consumer Payment Accounts Act
Implications of the Fourth Anti-Money Laundering Directive1. Access to payment accounts with basic features18 September 2016 saw the entry into force of the Austrian Consumer Payment Accounts ...
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- Identity verification standards for credit institutions under the Consumer Payment Accounts Act
Target companies are no longer just passengers in merger control proceedings
Upon an application filed by fwp, the Austrian Supreme Court, in its capacity as higher anti-trust court, acknowledged that the target company shall have party status in merger control proceedings bro...
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- Target companies are no longer just passengers in merger control proceedings
The importance of getting MAC clauses right
A current US case concerning a Material Adverse Change (MAC) clause illustrates how important it is for M&A transactions to provide just the right contractual regulations for the period between ...
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- The importance of getting MAC clauses right
Are bitcoins electronic money as defined in the E Money Act?
We do live in the virtual age now: there is no way around the Internet. Almost all legal transactions we enter into in our everyday lives can be concluded in the digital world.A logical consequence of...
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- Are bitcoins electronic money as defined in the E Money Act?
Limited party status of neighbours in the notification procedure under trade regulation law
In its ruling of 12 September 2016, Ro 2015/04/0018, the Austrian Administrative Court (VwGH) held that – in deviation from its prior rulings – neighbours shall have limited party status in a noti...
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- Limited party status of neighbours in the notification procedure under trade regulation law
“Hard” or “soft” accounts warranty and its consequences for the liability of the seller of a company
When agreements for the purchase and sale of a company – so-called “share purchase agreements” (SPAs) – are being negotiated, the assurances as to specific qualities of the sold company given ...
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- “Hard” or “soft” accounts warranty and its consequences for the liability of the seller of a company
Subordinated loans as a vehicle of public participation and crowdfunding – the end is near?
The development of the Austrian capital markets over the last few years has shown that, besides established stock exchange-listed companies, more and more “small” issuers (start-ups, SMEs) have di...
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- Subordinated loans as a vehicle of public participation and crowdfunding – the end is near?