Foreign Representative Offices in Romania

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Foreign Representative Offices in Romania"

Transcription

1 Foreign Representative Offices in Romania GUIDE FOR THE ORGANISATION AND FUNCTIONING OF FOREIGN REPRESENTATIVE OFFICES IN ROMANIA Although the legal status of representative offices of foreign commercial companies in Romania and business organisations was regulated in the domestic legislation immediately after the December 1989 Revolution (under Decree Law no. 122/1990 concerning the authorisation and functioning in Romania of representative offices of foreign commercial companies and business organisations), the Romanian legislation has not yet concretely defined the concept of representative office. This role has been entrusted to judiciary practice and doctrine, which defined the institution of representation as a technical legislation procedure whereby a person concludes juridical acts with third parties in the name and on behalf of another person, called the representative, with the result that the effects of the juridical acts concluded are directly borne by the representative. In practice, representations or representative offices have been likened to branches, starting from the premise that, since they are not legal entities distinct from the companies they represent, they act in the name and on behalf of the latter, they lack equity capital (distinct from the equity capital of the parent company) and they only possess assets required for carrying out the representation business in the country. And yet, the status of a representative office has many particular features that differentiate this corporate structure from a branch. Thus, the representative office (unlike the branch) may not be a goods-producing entity, a service provider or an entity carrying out works for customers or business partners. A representative office carries out the specialised function of an intermediary between the primary commercial company, which set up the representative office, and the company s commercial partners, which carries out the tasks of an authorised agent. As an authorised agent, the representative office concludes juridical acts with third parties in the country where it resides, in the name, to the accounts and under the responsibility of the foreign company it represents. In all instances, the representative offices in Romania of foreign commercial companies do not acquire their own legal personality, as they are a prolongation in fact and by right of the parent company whose economic interests it serves on this territory; moreover, it is unanimously accepted that their activities are limited exclusively to concluding juridical acts as an intermediary between the parent company and the company s commercial partners in Romania. The legal rules in force do not specifically state the activities that may be carried out by the representative offices, but, implicitly reasserting the principle of free trade, Decree Law no. 122/1990 specifies that the representative offices carry out activities assigned to them by the parent companies they represent. The activities of representative offices include intermediation of quite different types of actions that are aimed at developing international trade, such as issuing and receiving offers or orders, negotiating and signing commercial contracts on behalf of the parent company, spreading commercial and advertising information, providing technical assistance and services, and, generally, any kinds of economic activities designed to promote commercial relations between the parent company and Romania. 30, A.S. Puskin St., Sector 1, Bucharest, Romania tel: (+4) / 27 /28 fax: (+4)

2 Nonetheless, it should be emphasised that representative offices may not carry out operations that the parent company is not authorised to conduct in the country where it is registered or which are not included in the business object established under the authorisation. When the activity of foreign representative offices in Romania oversteps the framework of activities designed to establish commercial contacts and relations and enters the sphere of commercial acts, the Ministry of Economy and Trade shall refuse to issue an authorisation to function or shall order the cancellation of such authorisation, as appropriate, but these aspects will be detailed towards the end of this presentation (below). Representative offices carry out their activities under an authorisation to function issued by the Directorate General for Commercial Policies of the Ministry of Economy and Trade. The following is an enumeration of the documents currently required for issuing an authorisation to function to a representative office of a foreign commercial company: - an application for issuing an authorisation. This should include information on the representative offices and the foreign commercial company represented, such as: the registered office of the representative office, the business object concordant with that of the parent company, the duration of the functioning, the number and functions of the persons intended to be employed by the representative office, etc. It is essential that the nature of the activities to be carried out be clearly specified, and this must be related to the business object of the foreign commercial company. - a certificate, in the original, issued by the Chamber of Commerce and Industry or another competent body of the country where the parent company has the registered office that attests to the legal existence, the business object and the share capital of the foreign commercial company concerned; - solvency certificate, in the original, issued by a commercial bank through which the foreign company concerned carries out its financial operations; - the statutes or other statutory documents attesting to the legal format and the functioning of the foreign commercial company concerned; - a proxy, in the original, issued by the foreign commercial company on the name of the chief of the representative office, notarised in the respective. To these documents, proof of payment of a functioning fee of the representative office of USD 1,200/year serviceable in lei at the exchange rate posted by the National Bank of Romania in the payment day, shall be attached. The amount of USD 1,200 is due for the authorisation of each calendar year of the functioning of the representative office of the foreign commercial company, and, when the authorisation is issued after the beginning of the year, only the amount corresponding to the period of time in which the representative office carries out business that specific year will be paid out. All the documents mentioned above, together with their translations notarised by a Romanian notary office and a copy of the tenancy agreement for the space where the representative office is to function, will be filed with the Directorate General for Commercial Policies of the Ministry of Economy and Trade, which will analyse the documents and, within 30 days, at the longest, of the submittal date, will either issue an authorisation to function or reject the application of the authorisation and justify its rejection, as appropriate. However, if within the 30-day time limit the parent company withdraws its application or if the Ministry of Economy and Trade rejects the application, the foreign commercial company will be reimbursed 80% of the application fee. The fee is not reimbursable when the foreign company renounces the authorisation after the authorisation is issued, or when the Ministry of Economy and Trade orders, for justified reasons, the cancellation of the authorisation. 2

3 After the authorisation procedure is followed out before the Ministry of Economy and Trade, the foreign representative office will have to register with the tax bodies and with Romania s Chamber of Commerce and Industry. As far as taxation is concerned, representative offices are subject to the taxation regime provided for by the Romanian legislation in force. Thus, the Romanian Tax Code requires that foreign commercial companies register with the tax administration under whose jurisdiction its registered office is located, in order to be awarded a tax code. This shall be done within 15 days, at the longest, of the date the authorisation to function has been issued to its representative office in Romania. Currently, all foreign legal persons with a representative office authorised to function in Romania are obliged to pay annual taxes standing at the lei equivalent of 4,000 at the exchange rate of the foreign exchange market communicated by National Bank of Romania on the day preceding the payment. Correspondingly, in the case of foreign legal persons establishing and discarding representative offices in Romania during a tax year, the rates and taxes due will be calculated proportional to the number of months in the life of the representative offices in the year in question. The rates and taxes due by the representative offices are payable in two equal instalments (by June 20 and December 20), and the representative offices shall file for taxes by the end of the month of February of the taxation year. As far as the Value Added Tax is concerned, it should be mentioning that, because representative offices do not carry out sale business and are not a party to some sale agreement, they do not qualify as VAT tax payers, but, on the other hand, since they function in Romania, they are not entitled to refunds of the VAT paid for the goods and services they acquire. As regards the employment relations, Decree Law 122/1990 specifies that representative offices and their staff shall conduct their business by observing the Romanian legislation; in practice, a problem that may arise relates to the paying of the wages in a foreign currency. The Regulation of the National Bank of Romania concerning the carrying out of foreign exchange operations mentions that representative offices ( ) of foreign legal persons as well as of any other foreign entities registered and/or authorised to function in Romania shall be included in the category of residents, and, according to the relevant legislation, payments between residents shall be performed in the local currency, the leu (RON), only. Consequently, representative offices shall pay the staff wages in RON, save when the employment contracts are conclude by the parent company directly. Another discussion that emerges from the capacity of the representative office as an employer concerns the fulfilment of all obligations connected to the servicing of contributions to social security, the healthcare fund, the employment fund, the risk and accident fund, etc. Additionally, the representative offices of foreign commercial companies that function in Romania must keep the accounting books as required by the Romanian legislation in force, namely all the records must be in RON. By taking into account the fact of their capacity as representatives of foreign companies, the representative offices may not earn its own revenue and the only funds at their disposal are those received from the parent company in a foreign currency. 3

4 It should be also mentioned that foreign commercial companies or business organisations represented in Romania are obliged to notify to the Ministry of Economy and Trade (the General Directorate for Commercial Policies) all modifications in their legal status, particularly those changes in their business object, registered capital or registered office, when applicable, and request their authorisation to function be modified accordingly, within 30 days, at the longest. The functioning of representative offices may cease either as a result of a decision to this end taken by the parent company, or as a result of a decision to this end by the Ministry of Economy and Trade. Thus, the functioning of representative offices ends by right when the foreign commercial companies or the business organisations they represent cease to exist or when the foreign commercial companies or the business organisations order the representative offices to end business, in which case the order shall be notified to the Ministry of Economy and Trade and the closing up of the representative offices shall be commenced within 90 days after the notification, at the latest. Yet, as we mentioned above, the authorisation to function may be cancelled before its expiration by the Ministry of Commerce and Trade. The cancellation decision of the Ministry may occur only in certain cases specifically mentioned by the law to sanction: a) the representative staff violating the legal provisions in force in Romania regarding public order; b) overstepping the business object established under the authorisation; c) failure to meet the tax obligations. In all these instances, the Ministry of Economy and Trade will inform the foreign commercial company or the foreign business organisations, as appropriate, and their representative offices in Romania, about the cancellation of the permit, and will allow them 90 days to liquidate their business in Romania. Alexandra Ciocodeica Senior Associate Sova & Partners 4

5 Sova & Partners is a Romanian multidisciplinary business group that comprises our law firm, a bankruptcy and liquidation firm, and an EU funding consultancy group. We cover a broad range of business and legal practices, such as banking and finance, corporate restructuring and bankruptcy, commercial contracts, privatisations, mergers and acquisitions, project finance and energy, real estate, tax, and industrial property. Our partnership was founded in 1997 in Bucharest, Romania with an unparalleled commitment to excellence and a priority in providing the highest quality service to our clients. Our firm has experienced consistent and dynamic growth by keeping in line with the latest business trends and developments in the law. It has built an integrated multidisciplinary, business-oriented culture, aimed at achieving our clients objectives through strategic planning and innovative methods of execution. Our determination to delivering results and expanding opportunities serves as our guiding principle, setting apart our law firm from the rest. Sova & Partners is a leader in the market, ranked among the top five law firms in Romania, both domestic and foreign. We have a strong, experienced, talented and highly educated team of professionals that include several partners, senior associates, associates, and trainees. In addition, we have a legal support team comprised of translators, paralegals, and legal staff that works closely with our attorneys to provide the most comprehensive resources to our clients. We represent domestic and multinational companies and corporations operating in the fields of industry, commerce and services, telecommunications, oil, media, as well as government agencies and public authorities. In order to deliver our clients' requests expeditiously, Sova & Partners cooperates with a host of specialised national and international law offices. Banking and Finance Competition Corporate and Commercial Dispute Resolution Employment Law IT & Telecom Intellectual Property Judicial Restructuring and Bankruptcy Project Finance and Energy Public Procurement Real Estate Tax The starting point at Sova & Partners for legal counsel and all other activities is solid analysis based on careful examination of all legal and economic issues. Our firm s aim is to provide excellence of services by developing imaginative solutions to complex problems in order to meet our clients' requirements. We provide such solutions through our team of experienced lawyers and tax advisors who have excelled in their academic and professional careers. We have built an integrated, business-oriented culture, aimed at achieving our clients objectives through strategic planning and innovative methods of execution. Our determination to delivering results and expanding opportunities serves as our guiding principle, setting apart our law firm from the rest. 5

ACT ON PAYMENT SERVICES

ACT ON PAYMENT SERVICES 492 ACT ON PAYMENT SERVICES The full text of Act No 492/2009 Coll. on payment services and on amendments to certain laws, as amended by Act No 130/2011 Coll., Act No 394/2011 Coll., Act No 520/2011 Coll.,

More information

ACT on Payment Services 1 ) 2 ) of 19 August 2011. Part 1 General Provisions

ACT on Payment Services 1 ) 2 ) of 19 August 2011. Part 1 General Provisions ACT on Payment Services 1 ) 2 ) of 19 August 2011 Part 1 General Provisions Article 1. This Act sets out rules for the provision of payment services, including: 1) the conditions for provision of payment

More information

Supplementary materials

Supplementary materials Supplementary materials XX Merger, transformation and dissolution of business entities The dissolution of business entities is described within the Companies Law. Examples of dissolution provided by the

More information

Act on Investment Firms 26.7.1996/579

Act on Investment Firms 26.7.1996/579 Please note: This is an unofficial translation. Amendments up to 135/2007 included, May 2007. Act on Investment Firms 26.7.1996/579 CHAPTER 1 General provisions Section 1 Scope of application This Act

More information

LAW ON PLEDGE OF MOVABLE ASSETS REGISTERED IN THE PLEDGE REGISTRY I. GENERAL PROVISIONS

LAW ON PLEDGE OF MOVABLE ASSETS REGISTERED IN THE PLEDGE REGISTRY I. GENERAL PROVISIONS LAW ON PLEDGE OF MOVABLE ASSETS REGISTERED IN THE PLEDGE REGISTRY (Published in the Official Gazette of the Republic of Serbia No. 57/03, 61/05, 64/06) I. GENERAL PROVISIONS Subject Matter of the Law Art.

More information

TAX DEVELOPMENTS IN POLAND UPDATE 2009

TAX DEVELOPMENTS IN POLAND UPDATE 2009 TAX DEVELOPMENTS IN POLAND UPDATE 2009 WARDYŃSKI & PARTNERS TAX PRACTICE APRIL 2010 1/8 INTRODUCTION The purpose of this report is to present key tax developments in Poland in 2009 which may be relevant

More information

The National Council of the Slovak Republic has adopted the following Act: Article I. 1 Scope of the act

The National Council of the Slovak Republic has adopted the following Act: Article I. 1 Scope of the act Slovak Investment and Trade Development Agency Address: Trnavská cesta 100, 821 01 Bratislava, Slovak Republic Tel.: +421 2 58 260 100, Fax: +421 2 58 260 109, E-mail: invest@sario.sk, www.sario.sk Act

More information

PAYMENT SERVICES AND SYSTEMS ACT (ZPlaSS) CHAPTER 1 GENERAL PROVISIONS SUBCHAPTER 1 CONTENT OF THE ACT. Article 1. (scope)

PAYMENT SERVICES AND SYSTEMS ACT (ZPlaSS) CHAPTER 1 GENERAL PROVISIONS SUBCHAPTER 1 CONTENT OF THE ACT. Article 1. (scope) Legal notice All effort has been made to ensure the accuracy of this translation, which is based on the original Slovenian text. All translations of this kind may, nevertheless, be subject to a certain

More information

Practical Guide to Marshall Islands Company Formation

Practical Guide to Marshall Islands Company Formation ANDREAS M.SOFOCLEOUS & CO. LLC ADVOCATES - LEGAL CONSULTANTS Practical Guide to Marshall Islands Company Formation 2014 Practical Guide series PRACTICAL GUIDE TO MARSHALL ISLANDS COMPANY FORMATION Country

More information

Legal Guide to Forming a Corporation in Luxembourg

Legal Guide to Forming a Corporation in Luxembourg Legal Guide to Forming a Corporation in Luxembourg March 2008 Business in the Grand-Duchy of Luxembourg (the GDL ) may be carried out by individual trader(s) or by way of forming a corporate entity, whereby

More information

Act on Insurance Mediation and Reinsurance Mediation

Act on Insurance Mediation and Reinsurance Mediation Act on Insurance Mediation and Reinsurance Mediation The full wording of Act No. 340/2005 Coll. dated 23 June 2005 on insurance mediation and resinsurance mediation and on amendments to certain laws, as

More information

NATIONAL BANK OF ROMANIA. REGULATION No.17/2012 regarding certain conditions on granting loans

NATIONAL BANK OF ROMANIA. REGULATION No.17/2012 regarding certain conditions on granting loans NATIONAL BANK OF ROMANIA REGULATION No.17/2012 regarding certain conditions on granting loans Having regard to the provisions of art.4 Para. (1), art.45 Para. (1), art.61, art.173 4, let. b) and art.235

More information

Starting business in Russia. Legal and tax framework. Moscow 2015

Starting business in Russia. Legal and tax framework. Moscow 2015 Starting business in Russia. Legal and tax framework Moscow 2015 2 Index LLC v Representation 3 Request for tax assistance for a prospect client (questions on taxation)7 Direct tax regime 7 Indirect tax

More information

Part 1. Scope and definitions of this Act

Part 1. Scope and definitions of this Act Consolidated Insurance Mediation Act 1 Act no. 401 of 25 April 2007 Consolidated Act no. 401 of 25 April 2007 This is an Act to consolidate the Insurance Meditation Act, cf. Consolidated Act no. 817 of

More information

The Authority s Board of Directors Decision No. (1) of Concerning the Regulation for Investment Management

The Authority s Board of Directors Decision No. (1) of Concerning the Regulation for Investment Management The Authority s Board of Directors Decision No. (1) of 2014 Concerning the Regulation for Investment Management The Chairman of the Board of Directors of the Securities and Commodities Authority, Having

More information

Swedbank, AB payment services provision conditions

Swedbank, AB payment services provision conditions Swedbank, AB payment services provision conditions 1. TERMS 1.1. Terms used in these Swedbank, AB Payment Services Provision Regulations have the following meanings: 1.1.1. Personal Data means any information

More information

Saudi Arabia: Agency and Distribution

Saudi Arabia: Agency and Distribution Saudi Arabia: Agency and Distribution Law Office of Howard L. Stovall In general, Saudi Arabian law does not prevent a multinational company from making off-shore export sales directly to customers in

More information

A R T I C L E S O F A S S O C I A T I O N X I N G AG XING AG

A R T I C L E S O F A S S O C I A T I O N X I N G AG XING AG A R T I C L E S O F A S S O C I A T I O N OF X I N G AG 1. Name and place of incorporation of the Company 1.1. The name of the Company is: XING AG 1.2. The place of incorporation of the Company is Hamburg.

More information

Financial Services and Markets - Regulation No 397/2000 on electronic registration of securities in a central securities depository.

Financial Services and Markets - Regulation No 397/2000 on electronic registration of securities in a central securities depository. This is an English translation. The original Icelandic text, as published in the Law Gazette (Stjórnartíðindi), is the authoritative text. Should there be discrepancy between this translation and the authoritative

More information

Statute of the Slovak Research and Development Agency

Statute of the Slovak Research and Development Agency Statute of the Slovak Research and Development Agency Article 1 Opening clause 1. The Agency has been established on base of the Act of the National Council of the Slovak Republic No. 172/2005 of Code

More information

Contractor s Obligations and Liability when Work is Contracted Out

Contractor s Obligations and Liability when Work is Contracted Out Contractor s Obligations and Liability when Work is Contracted Out Introduction There are many ways of combating the negative effects caused to enterprises by the grey or undeclared economy and unhealthy

More information

the disposal of the account holder or authorised user, excluding, however, transactions related to the crediting of deposit interest.

the disposal of the account holder or authorised user, excluding, however, transactions related to the crediting of deposit interest. General terms and conditions for corporate accounts These General terms and conditions for corporate accounts were adopted on 15 November 2012. These terms and conditions will be applied to companies account

More information

Law on Bankruptcy and Liquidation of Banks and Insurance Companies (Official Gazette of the Republic of Serbia, No. 14/2015)

Law on Bankruptcy and Liquidation of Banks and Insurance Companies (Official Gazette of the Republic of Serbia, No. 14/2015) Law on Bankruptcy and Liquidation of Banks and Insurance Companies (Official Gazette of the Republic of Serbia, No. 14/2015) (Unofficial Translation) I. BASIC PROVISIONS Article 1 This Law governs the

More information

Cross Border Debt Collection Procedures

Cross Border Debt Collection Procedures Cross Border Debt Collection Procedures Bulgaria Hungary Serbia Slovakia Romania Time Limit Time Limit Time Limit Time Limit Time Limit Time limits are connected with prescription.standard prescription

More information

Ordinance No 3. of 16 July 2009 on the Terms and Procedure for the Execution of Payment Transactions and Use of Payment Instruments

Ordinance No 3. of 16 July 2009 on the Terms and Procedure for the Execution of Payment Transactions and Use of Payment Instruments Ordinance No 3 1 Ordinance No 3 of 16 July 2009 on the Terms and Procedure for the Execution of Payment Transactions and Use of Payment Instruments (Issued by the Bulgarian National Bank; published in

More information

OUR TAX SPECIALISTS PROVIDE PROFESSIONAL ADVICE ON THE FOLLOWING ISSUES: OUR TAX PRACTICE COVERS THE FOLLOWING AREAS OF BUSINESS ACTIVITY:

OUR TAX SPECIALISTS PROVIDE PROFESSIONAL ADVICE ON THE FOLLOWING ISSUES: OUR TAX PRACTICE COVERS THE FOLLOWING AREAS OF BUSINESS ACTIVITY: TAX TAX LAW Our very experienced and highly reputed tax attorneys not only have expertise in the tax aspects of projects of all types, but can also offer the expert support of experienced professionals

More information

TERMS AND CONDITIONS OF REGISTRATION Applicable for the top-level domain.nu

TERMS AND CONDITIONS OF REGISTRATION Applicable for the top-level domain.nu TERMS AND CONDITIONS OF REGISTRATION Applicable for the top-level domain.nu (The Swedish version of the terms and conditions shall prevail) 1 INTRODUCTION 1.1 Stiftelsen för Internetinfrastruktur / The

More information

CIRCULAR 55. UCITS authorized in another Member State intending to market units/shares in Greece

CIRCULAR 55. UCITS authorized in another Member State intending to market units/shares in Greece CIRCULAR 55 UCITS authorized in another Member State intending to market units/shares in Greece 0 Athens, June 2016 1 Kolokotroni & Stadiou Str., 105 62 Athens, Greece Tel.: (+30) 210 33 77 100 Fax: (+30)

More information

Client Agreement. CITADEL OF TRADING Page 1

Client Agreement. CITADEL OF TRADING Page 1 Client Agreement 1. Parties to and Subject of Agreement 1.1. This Agreement is concluded between the brokerage company Fort Financial Services Ltd. (hereafter the Company ) and an individual or a legal

More information

Industrial Co-operation Contract [FRAMEWORK]

Industrial Co-operation Contract [FRAMEWORK] Case DRAFT Industrial Cooperation Contract [FRAMEWORK] Article 1: Parties to the contract 1.1. The Danish Business Authority (DBA), Company Registration no.: 10150817 Dahlerups Pakhus Langelinie Allé 17

More information

NB: Unofficial translation, legally binding only in Finnish and Swedish. Auditing Act. (459/2007; tilintarkastuslaki) Chapter 1. General Provisions

NB: Unofficial translation, legally binding only in Finnish and Swedish. Auditing Act. (459/2007; tilintarkastuslaki) Chapter 1. General Provisions NB: Unofficial translation, legally binding only in Finnish and Swedish. Ministry of Trade and Industry, Finland Auditing Act (459/2007; tilintarkastuslaki) Chapter 1 General Provisions Section 1 Scope

More information

Taxation in the Canton of Zurich

Taxation in the Canton of Zurich Kantonales Steueramt Head Corporate Tax Taxation in the Canton of Zurich The Taxation of equity investment, holding, domicile and mixed companies Contact: regarding taxation Cantonal Tax Office Zurich

More information

Dutch limited liability company ( BV )

Dutch limited liability company ( BV ) Dutch limited liability company ( BV ) General Besloten vennootschap met beperkte aansprakelijkheid (usually abbreviated BV in the Netherlands) is the Dutch version of a private limited liability company.

More information

AMF Instruction Authorisation procedure for investment management companies, disclosure obligations and passporting DOC-2008-03

AMF Instruction Authorisation procedure for investment management companies, disclosure obligations and passporting DOC-2008-03 AMF Instruction Authorisation procedure for investment management companies, disclosure obligations and passporting DOC-2008-03 References: Articles 311-1 to 311-3, 311-7, 311-7-1, 313-53-1, 316-3 to 316-5,

More information

A GUIDE OF THE ROMANIAN EMPLOYMENT LAW

A GUIDE OF THE ROMANIAN EMPLOYMENT LAW Law Firm A GUIDE OF THE ROMANIAN EMPLOYMENT LAW 1. OVERVIEW 1.1. Legal system In Romania, the employment relations are governed by Labour Code the Law 53 / 2003 as amended, a law that represents the common

More information

Terms of Business For the Introduction and Supply of Temporary Workers

Terms of Business For the Introduction and Supply of Temporary Workers Terms of Business For the Introduction and Supply of Temporary Workers CONTRACT These Terms constitute the contract between A1 Recruitment & Temporary Employment SRL and the Client and are deemed to be

More information

THE INVESTMENT FUNDS AND MANAGEMENT COMPANIES ACT - 1. Ljubljana, 2003

THE INVESTMENT FUNDS AND MANAGEMENT COMPANIES ACT - 1. Ljubljana, 2003 THE INVESTMENT FUNDS AND MANAGEMENT COMPANIES ACT - 1 (published in the Official Gazette of the Republic of Slovenia - no. 110 on December 2002) Ljubljana, 2003 The original text of this act is written

More information

In practice, foreigners usually establish LLCs. Partnerships and joint stock companies are only established in exceptional cases.

In practice, foreigners usually establish LLCs. Partnerships and joint stock companies are only established in exceptional cases. Company Laws The Companies Law is the principal body of legislation governing companies. Saudi company law recognizes eight forms of companies. The most common forms are limited liability companies (LLC),

More information

Law on the Deposit Insurance Agency (Official Gazette of the Republic of Serbia, No. 14/2015) (Unofficial Translation)

Law on the Deposit Insurance Agency (Official Gazette of the Republic of Serbia, No. 14/2015) (Unofficial Translation) Law on the Deposit Insurance Agency (Official Gazette of the Republic of Serbia, No. 14/2015) (Unofficial Translation) I. GENERAL PROVISIONS Article 1 This Law governs the status, organization, powers

More information

ARBITRATOR S GUIDELINES

ARBITRATOR S GUIDELINES ARBITRATOR S GUIDELINES 2 August 2014 Address: P.O. Box 16050 103 21 Stockholm, Sweden Phone: + 46 8 555 100 00 Fax: + 46 8 566 316 00 arbitration@chamber.se www.sccinstitute.com 2 INTRODUCTION The purpose

More information

SAMPLE. Professional Indemnity Insurance (PII) Policy 2015/16. lawcover.com.au Page 1

SAMPLE. Professional Indemnity Insurance (PII) Policy 2015/16. lawcover.com.au Page 1 Professional Indemnity Insurance (PII) Policy 2015/16 Lawcover Insurance Pty Limited ABN 15 095 082 509 Level 13, 383 Kent Street Sydney NSW 2000 DX 13013 Sydney Market Street Telephone: 1800 650 748 (02)

More information

The NASDAQ OMX Helsinki - IPO Overview

The NASDAQ OMX Helsinki - IPO Overview The NASDAQ OMX Helsinki - IPO Overview 1. Regulatory Background 1.1 Overview of Regulatory Background EC Regulations 809/2004 (on prospectuses) and 2273/2003 (on buy-back programmes) are directly applicable,

More information

SCOPE OF APPLICATION AND DEFINITIONS

SCOPE OF APPLICATION AND DEFINITIONS Unofficial translation No. 398/1995 Act on Foreign Insurance Companies Issued in Helsinki on 17 March 1995 PART I SCOPE OF APPLICATION AND DEFINITIONS Chapter 1. General Provisions Section 1. Scope of

More information

Establishing a New Branch in Berlin

Establishing a New Branch in Berlin This document can be accessed at www.ihk-berlin.de under Doc. No. 113372 Establishing a New Branch in Berlin Contents: Establishing a New Branch in Berlin... 1 1. Establishing a Subsidiary... 2 2. Establishing

More information

CHAPTER I I. Formation of a limited liability company CHAPTER I. GENERAL PROVISIONS

CHAPTER I I. Formation of a limited liability company CHAPTER I. GENERAL PROVISIONS Law of the Republic of Kazakhstan dated April 22, 1998 220-I On limited liability companies and additional liability companies (with alterations and amendments as of 29.12.2014) CHAPTER I. General provisions

More information

424/1991 Official Gazette. THE LAW on association within political parties and political movements of October 2 nd 1991

424/1991 Official Gazette. THE LAW on association within political parties and political movements of October 2 nd 1991 Copyrighted translation. Please cite: www.partylaw.leidenuniv.nl Source: http://www.nssoud.cz/zakony/424_1991.pdf (Accessed: August 2012) ASPI System status on 22.01.2012 up to chapter 8/2012 of the Official

More information

Act of Law 424/1991 Coll., on association in political parties and political movements

Act of Law 424/1991 Coll., on association in political parties and political movements Source: http://www.psp.cz/docs/laws/1991/en/424.html (accessed: April 2009) Act of Law 424/1991 Coll., on association in political parties and political movements Act of Law No. 424/1991 Coll., of October

More information

ODIN Eiendom. ( the Fund )

ODIN Eiendom. ( the Fund ) If you are in any doubt about the contents of this Supplementary Prospectus you should consult a person authorised for the purposes of the Financial Services and Markets Act 2000 who specialises in advising

More information

DESIRING to intensify economic cooperation between both States;

DESIRING to intensify economic cooperation between both States; AGREEMENT BETWEEN THE GOVERNMENT OF THE REPUBLIC OF TRINIDAD AND TOBAGO AND THE GOVERNMENT OF THE REPUBLIC OF CUBA ON THE RECIPROCAL PROMOTION AND PROTECTION OF INVESTMENTS The Government of the Republic

More information

the paris office Elizabeth Naud and Luc Poux, architects

the paris office Elizabeth Naud and Luc Poux, architects the paris office Elizabeth Naud and Luc Poux, architects dllp Our commitment is to be the definitive source of practical advisory services and our clients most powerful advocates. DECHERT LLP In-depth

More information

Act on the Supervision of Financial Institutions etc. (Financial Supervision Act)

Act on the Supervision of Financial Institutions etc. (Financial Supervision Act) FINANSTILSYNET Norway Translation update January 2013 This translation is for information purposes only. Legal authenticity remains with the official Norwegian version as published in Norsk Lovtidend.

More information

STATUTORY INSTRUMENTS. S.I. No. 343 of 2015 EUROPEAN UNION (ALTERNATIVE DISPUTE RESOLUTION FOR CONSUMER DISPUTES) REGULATIONS 2015

STATUTORY INSTRUMENTS. S.I. No. 343 of 2015 EUROPEAN UNION (ALTERNATIVE DISPUTE RESOLUTION FOR CONSUMER DISPUTES) REGULATIONS 2015 STATUTORY INSTRUMENTS. S.I. No. 343 of 2015 EUROPEAN UNION (ALTERNATIVE DISPUTE RESOLUTION FOR CONSUMER DISPUTES) REGULATIONS 2015 2 [343] S.I. No. 343 of 2015 EUROPEAN UNION (ALTERNATIVE DISPUTE RESOLUTION

More information

TERMS AND CONDITIONS OF REGISTRATION Applicable for the top-level domain.se from May 27, 2015

TERMS AND CONDITIONS OF REGISTRATION Applicable for the top-level domain.se from May 27, 2015 TERMS AND CONDITIONS OF REGISTRATION Applicable for the top-level domain.se from May 27, 2015 (The Swedish version of these terms and conditions shall prevail) 1 INTRODUCTION 1.1 Stiftelsen för Internetinfrastruktur

More information

*Golden Visa* Spain residence permit for Non-EU citizens

*Golden Visa* Spain residence permit for Non-EU citizens *Golden Visa* Spain residence permit for Non-EU citizens After approval by both Houses of the Spanish Parliament and publication in the Bank of Spain s Official Gazette, the new law allows non-eu investors

More information

FLORIDA GENERAL DURABLE POWER OF ATTORNEY THE POWERS YOU GRANT BELOW ARE EFFECTIVE EVEN IF YOU BECOME DISABLED OR INCOMPETENT

FLORIDA GENERAL DURABLE POWER OF ATTORNEY THE POWERS YOU GRANT BELOW ARE EFFECTIVE EVEN IF YOU BECOME DISABLED OR INCOMPETENT FLORIDA GENERAL DURABLE POWER OF ATTORNEY THE POWERS YOU GRANT BELOW ARE EFFECTIVE EVEN IF YOU BECOME DISABLED OR INCOMPETENT NOTICE: THE POWERS GRANTED BY THIS DOCUMENT ARE BROAD AND SWEEPING. THEY ARE

More information

General Terms and Conditions for Providing Advertising Space on Websites Operated by BURDA Praha spol. s r.o.

General Terms and Conditions for Providing Advertising Space on Websites Operated by BURDA Praha spol. s r.o. General Terms and Conditions for Providing Advertising Space on Websites Operated by BURDA Praha spol. s r.o. Preamble These General Terms and Conditions for Providing Advertising Space on Websites Operated

More information

Benefits of Becoming an Enrolled Agent: What is an Enrolled Agent (EA)?

Benefits of Becoming an Enrolled Agent: What is an Enrolled Agent (EA)? Benefits of Becoming an Enrolled Agent: What is an Enrolled Agent (EA)? An enrolled agent is a person who has earned the privilege of practicing, that is, representing taxpayers before any office of the

More information

186 ACT. of 24 April 2009

186 ACT. of 24 April 2009 186 ACT of 24 April 2009 on Financial Intermediation and Financial Counselling and on amendments and supplements to certain laws The National Council of the Slovak Republic has adopted the following Act:

More information

PHONOGRAPHIC PERFORMANCE LIMITED DISTRIBUTION RULES

PHONOGRAPHIC PERFORMANCE LIMITED DISTRIBUTION RULES PHONOGRAPHIC PERFORMANCE LIMITED DISTRIBUTION RULES This document sets out the rules applicable to the distribution of monies collected by PPL in respect of the licensing of the rights controlled by PPL

More information

AS SEB Elu- ja Pensionikindlustus General terms and conditions

AS SEB Elu- ja Pensionikindlustus General terms and conditions General terms and conditions Valid from 01.01.2017 Terms and conditions give you an overview about the principles of life insurance and definitions used in insurance. Please take the time to read through

More information

Asset Management Company in Liechtenstein

Asset Management Company in Liechtenstein Asset Management Company in Liechtenstein I. Services of the asset management company II. Rules of conduct for the asset management company III. Client classification of the asset management company IV.

More information

Aegis LAW FIRM JOURNAL DOING BUSINESS IN NIGERIA- A GUIDE PART TWO

Aegis LAW FIRM JOURNAL DOING BUSINESS IN NIGERIA- A GUIDE PART TWO Aegis LAW FIRM JOURNAL DOING BUSINESS IN NIGERIA- A GUIDE PART TWO Introduction In the first part of the guide to doing business in Nigeria, we examined the relevant laws that businesses needs to be familiar

More information

ACT ON BUSINESS ACTIVITIES ON THE CAPITAL MARKET (ALSO KNOWN AS THE CAPITAL MARKET UNDERTAKINGS ACT)

ACT ON BUSINESS ACTIVITIES ON THE CAPITAL MARKET (ALSO KNOWN AS THE CAPITAL MARKET UNDERTAKINGS ACT) ACT ON BUSINESS ACTIVITIES ON THE CAPITAL MARKET (ALSO KNOWN AS THE CAPITAL MARKET UNDERTAKINGS ACT) NOTE: THIS TRANSLATION IS INFORMATIVE, I.E. NOT LEGALLY BINDING! (TABLE OF CONTENTS ADDED) - 2 - TABLE

More information

The Banking Act of 29 August 1997 (Journal of Laws of 2015, item 128) (consolidated version) CHAPTER 1 GENERAL PROVISIONS

The Banking Act of 29 August 1997 (Journal of Laws of 2015, item 128) (consolidated version) CHAPTER 1 GENERAL PROVISIONS The Banking Act of 29 August 1997 (Journal of Laws of 2015, item 128) (consolidated version) CHAPTER 1 GENERAL PROVISIONS Article 1 The present Act lays down the principles of carrying out banking activity,

More information

GENERAL TERMS AND CONDITIONS FOR EURO-DENOMINATED PAYMENTS WITHIN SEPA

GENERAL TERMS AND CONDITIONS FOR EURO-DENOMINATED PAYMENTS WITHIN SEPA 1 (5) GENERAL TERMS AND CONDITIONS FOR EURO-DENOMINATED PAYMENTS WITHIN SEPA These general terms and conditions are valid from 1.6.2010. If there is any inconsistency between the different language versions,

More information

Statutory Instruments EUROPEAN COMMUNITIES (TAXATION OF SAVINGS INCOME IN THE FORM OF INTEREST PAYMENTS) REGULATIONS 2003

Statutory Instruments EUROPEAN COMMUNITIES (TAXATION OF SAVINGS INCOME IN THE FORM OF INTEREST PAYMENTS) REGULATIONS 2003 Statutory Instruments S.I. No. 717 of 2003 EUROPEAN COMMUNITIES (TAXATION OF SAVINGS INCOME IN THE FORM OF INTEREST PAYMENTS) REGULATIONS 2003 PUBLISHED BY THE STATIONERY OFFICE DUBLIN To be purchased

More information

Contractor s Obligations and Liability when Work is Contracted Out

Contractor s Obligations and Liability when Work is Contracted Out Contractor s Obligations and Liability when Work is Contracted Out Introduction There are many ways of combating the negative effects caused to enterprises by the grey or undeclared economy and unhealthy

More information

MODEL OF JOINT VENTURE AGREEMENT FOR INDIA JOINT VENTURE AGREEMENT (INDIA)

MODEL OF JOINT VENTURE AGREEMENT FOR INDIA JOINT VENTURE AGREEMENT (INDIA) MODEL OF JOINT VENTURE AGREEMENT FOR INDIA Model of Joint Venture Agreement for India used to regulate relations between Indian companies and foreign companies which set up a company in India to jointly

More information

General Terms and Conditions of the Austrian National Tourist Office

General Terms and Conditions of the Austrian National Tourist Office THIS DOCUMENT CONTAINS AN ENGLISH TRANSLATION OF THE GERMAN VERSION OF THE GENERAL TERMS AND CONDITIONS. ONLY THE GERMAN VERSION IS BINDING. THE ENGLISH TRANSLATION IS NOT BINDING! General Terms and Conditions

More information

To receive a hard copy of the full study or for further information, please contact:

To receive a hard copy of the full study or for further information, please contact: Romania This document summarises information provided by national experts as to the tax treatment by the relevant EU Member State of public-benefit foundations and their donors both domestically and in

More information

1.1 In these Terms the following expressions have the following meanings:

1.1 In these Terms the following expressions have the following meanings: General Terms and Conditions applying to all Booking Confirmations 1. Definitions and Interpretation 1.1 In these Terms the following expressions have the following meanings: Advertising Copy means any

More information

Comparative Table. Business Registration Act (Cap. 32, 2004 Ed.) Business Names Registration Bill 2014

Comparative Table. Business Registration Act (Cap. 32, 2004 Ed.) Business Names Registration Bill 2014 APPENDIX TO ANNEX B Comparative Table Business Registration Act (Cap. 32, 2004 Ed.) Business Names Registration Bill 2014 PART I PRELIMINARY Short title 1. This Act may be cited as the Business Registration

More information

The regulation applies to direct insurance only.

The regulation applies to direct insurance only. KREDITTILSYNET Norway Translation revised June 2006 This translation is for information purposes only. Legal authenticity remains with the original Norwegian version as published in Norsk Lovtidend. 22

More information

Dated 29 February 2016. Flood Re Limited. Payments Dispute Process. Version 1.0

Dated 29 February 2016. Flood Re Limited. Payments Dispute Process. Version 1.0 Dated 29 February 2016 Flood Re Limited Payments Dispute Process Version 1.0 1. General 1.1 The following provisions will apply to all disputes referred to and conducted under this Payments Dispute Resolution

More information

LAW ON THE PREVENTION OF MONEY LAUNDERING AND TERRORIST FINANCING. I Basic provisions. Subject Matter of the Law. Article 1

LAW ON THE PREVENTION OF MONEY LAUNDERING AND TERRORIST FINANCING. I Basic provisions. Subject Matter of the Law. Article 1 LAW ON THE PREVENTION OF MONEY LAUNDERING AND TERRORIST FINANCING I Basic provisions Subject Matter of the Law Article 1 This Law shall regulate measures and actions undertaken for the purpose of detecting

More information

Bill of Legislation on adjustment of inflation-indexed housing mortgages. Art. 1 Objective

Bill of Legislation on adjustment of inflation-indexed housing mortgages. Art. 1 Objective Parliamentary document 837 Item 485 Bill of Legislation on adjustment of inflation-indexed housing mortgages (Submitted to the 143 rd legislative session of the Althingi, 2013-2014) Art. 1 Objective The

More information

According to section 53 of the Insurance Act the insurance intermediary is only empowered with respect to the transaction in which it takes part to:

According to section 53 of the Insurance Act the insurance intermediary is only empowered with respect to the transaction in which it takes part to: Argentina MANZANO, LÓPEZ SAAVEDRA & RAMIREZ CALVO Martin Manzano and Ignacio Shaw mmanzano@mlsrc.com.ar; ishaw@mlsrc.com.ar 1. Insurance intermediation activities 1.1 Is the distribution of insurance products

More information

GENERAL SUBSCRIPTION CONDITIONS

GENERAL SUBSCRIPTION CONDITIONS GENERAL SUBSCRIPTION CONDITIONS Article 1 Purpose 1. These general conditions govern the supply of the telephony service to Customer (henceforth the Service ) in the respect of the principle of non-discrimination

More information

General Terms and Conditions of Delivery and Assembly of Electrical Engineering Companies

General Terms and Conditions of Delivery and Assembly of Electrical Engineering Companies General Terms and Conditions of Delivery and Assembly of Electrical Engineering Companies I GENERAL PROVISIONS Scope of application 1. These General Terms and Conditions apply to all obligations arising

More information

Rehabilitation Procedure under New Kazakh Bankruptcy Law: Another Way to Avoid the Claims of Creditors?

Rehabilitation Procedure under New Kazakh Bankruptcy Law: Another Way to Avoid the Claims of Creditors? Rehabilitation Procedure under New Kazakh Bankruptcy Law: Another Way to Avoid the Claims of Creditors? www.gratanet.com Rehabilitation Procedure under New Kazakh Bankruptcy Law: Another Way to Avoid the

More information

Preparation and filing of consolidated accounts and consolidated annual reports

Preparation and filing of consolidated accounts and consolidated annual reports Microeconomic Information Department Central Balance Sheet Office boulevard de Berlaimont 14 - BE-1000 Brussels tel. 02 221 30 01 - fax 02 221 32 66 e-mail: centraledesbilans@nbb.be - Website: www.bnb.be

More information

GENERAL TERMS OF ORDERS AND DEFINITIONS FOR A PROFESSIONAL INVESTOR. April 2007

GENERAL TERMS OF ORDERS AND DEFINITIONS FOR A PROFESSIONAL INVESTOR. April 2007 1 I. SCOPE OF APPLICATION OF THE GENERAL TERMS OF ORDERS AND DEFINITIONS 1 Purpose and scope of application of the Terms of Orders These Terms of Orders shall be applied to the Order Relationship on the

More information

GENERAL TERMS ANC CONDITIONS OF BROKERAGE SERVICES PROVIDED BY BZ WBK BROKERAGE S.A. (UNIFORM TEXT)

GENERAL TERMS ANC CONDITIONS OF BROKERAGE SERVICES PROVIDED BY BZ WBK BROKERAGE S.A. (UNIFORM TEXT) Appendix to the Resolution No. 17/2011 of the Management Board of BZ WBK Brokerage S.A. dated 25 February 2011 concerning adoption of the amended General Terms and Conditions of Brokerage Services Provided

More information

Code of Ethics. Direct Selling Europe

Code of Ethics. Direct Selling Europe Code of Ethics Direct Selling Europe Table of contents Chapter I Introduction 4 1. Scope.................................................. 6 2. Aims................................................... 6

More information

Act on Insurance. The National Council of the Slovak Republic has adopted the following Act: SECTION I PART ONE GENERAL PROVISIONS

Act on Insurance. The National Council of the Slovak Republic has adopted the following Act: SECTION I PART ONE GENERAL PROVISIONS Act on Insurance Full wording of Act No 8/2008 Coll. of 28 November 2007 on Insurance and on amendments and supplements to certain laws, as amended by Act No 270/2008 Coll., Act No 552/2008 Coll., Act

More information

Buzescu Ca>Romanian Business Law>Romanian Public Procurement Laws

Buzescu Ca>Romanian Business Law>Romanian Public Procurement Laws Buzescu Ca>Romanian Business Law>Romanian Public Procurement Laws 9. ROMANIAN PUBLIC PROCUREMENT LAWS Updated October 2016 The relevant Romanian public procurement laws and regulations are: Law no. 98

More information

COUNCIL OF MINISTERS DECREE LAW 17/09 OF 26 JUNE

COUNCIL OF MINISTERS DECREE LAW 17/09 OF 26 JUNE COUNCIL OF MINISTERS DECREE LAW 17/09 OF 26 JUNE Whereas the training of Angolan staff is one of the tasks within the set of priorities of the Government and in view of the need to provide the Republic

More information

LITHUANIA LAW ON COMPANIES

LITHUANIA LAW ON COMPANIES LITHUANIA LAW ON COMPANIES Important Disclaimer This translation has been generously provided by the Lithuanian Securities Commission. This does not constitute an official translation and the translator

More information

Client Broker Agreement (Wholesale Broker) Nepean Brokers & Associates Pty. Ltd.

Client Broker Agreement (Wholesale Broker) Nepean Brokers & Associates Pty. Ltd. Client Broker Agreement (Wholesale Broker) Nepean Brokers & Associates Pty. Ltd. and Table of contents Parties... 1 Background... 1 Operative provisions... 1 1 Licence and registration... 1 2 Relationship...

More information

REPORT OF THE BOARD OF DIRECTORS TO THE EXTRAORDINARY GENERAL MEETING OF APRIL 23, 2013:

REPORT OF THE BOARD OF DIRECTORS TO THE EXTRAORDINARY GENERAL MEETING OF APRIL 23, 2013: REPORT OF THE BOARD OF DIRECTORS TO THE EXTRAORDINARY GENERAL MEETING OF APRIL 23, 2013: Amendments to articles 9, 10, 11 and 12 (General Meetings), 17 and 23 (Board of Directors), and 27 (Board of Statutory

More information

QUESTIONS AND ANSWERS ON THE CLIENT IDENTIFICATION AND VERIFICATION REQUIREMENTS

QUESTIONS AND ANSWERS ON THE CLIENT IDENTIFICATION AND VERIFICATION REQUIREMENTS APPENDIX 8 QUESTIONS AND ANSWERS ON THE CLIENT IDENTIFICATION AND VERIFICATION REQUIREMENTS The following Q & As have been prepared to assist paralegals to interpret and better understand the new requirements:

More information

PAYMENT TRANSACTIONS ACT (PTA)

PAYMENT TRANSACTIONS ACT (PTA) PAYMENT TRANSACTIONS ACT (PTA) Published in the Official Gazette of the Republic of Slovenia No. 30 on 5 April 2002 All effort has been made to ensure the accuracy of this translation, which is based on

More information

ct A Insolvency Act Insolvency ISBN 978-80-7357-681-3

ct A Insolvency Act Insolvency ISBN 978-80-7357-681-3 Insolvency Act Insolvency Act Insolvency Act Example of quotation: Insolvency Act. Prague : Wolters Kluwer ČR, a. s., 2011, p. 216. Legal state of the publication as of 31 th August 2011. Updated version

More information

State of Michigan Deferred Compensation Plan I / 457 State of Michigan Deferred Compensation Plan II / 401(k)

State of Michigan Deferred Compensation Plan I / 457 State of Michigan Deferred Compensation Plan II / 401(k) State of Michigan QDRO Administration State of Michigan Deferred Compensation Plan I / 457 State of Michigan Deferred Compensation Plan II / 401(k) Model Language and Procedures TABLE OF CONTENTS 1. DEFINITION

More information

ODIN Europa ODIN Europa SMB ODIN Finland ODIN Global ODIN Global SMB ODIN Maritim ODIN Norden ODIN Norge ODIN Offshore ODIN Sverige

ODIN Europa ODIN Europa SMB ODIN Finland ODIN Global ODIN Global SMB ODIN Maritim ODIN Norden ODIN Norge ODIN Offshore ODIN Sverige If you are in any doubt about the contents of this Supplementary Prospectus you should consult a person authorised for the purposes of the Financial Services and Markets Act 2000 who specialises in advising

More information

Terms and Conditions. Mex-n Limited Partnership.

Terms and Conditions. Mex-n Limited Partnership. Terms and Conditions Mex-n Limited Partnership E-mail: mexngroup@gmail.com 1 Table of Contents Page INTRODUCTION... 3 ACKNOWLEDGEMENT... 3 SCOPE OF THE TERMS AND CONDITIONS OF BUSINESS... 3 INTERPRETATION

More information

ESTONIA MONEY LAUNDERING AND TERRORISM FINANCING PREVENTION ACT

ESTONIA MONEY LAUNDERING AND TERRORISM FINANCING PREVENTION ACT ESTONIA MONEY LAUNDERING AND TERRORISM FINANCING PREVENTION ACT Important Disclaimer This translation has been generously provided by the Estonian Financial Supervision Authority. This does not constitute

More information

Management liability - Employment practices liability Policy wording

Management liability - Employment practices liability Policy wording Special definitions for this section Benefits Claim Defence costs The General terms and conditions and the following terms and conditions all apply to this section. Any compensation awarded to an employee

More information

TERMS AND CONDITIONS OF THE CONVERTIBLE BOND ISSUE BY AS PRO KAPITAL GRUPP

TERMS AND CONDITIONS OF THE CONVERTIBLE BOND ISSUE BY AS PRO KAPITAL GRUPP TERMS AND CONDITIONS OF THE CONVERTIBLE BOND ISSUE BY AS PRO KAPITAL GRUPP 1. Offers of the convertible bonds 1.1. AS Pro Kapital Grupp (hereinafter the Company ) shall issue up to 10 000 000 (ten million)

More information

Dutch Association of Sport Product Manufacturers and Wholesalers

Dutch Association of Sport Product Manufacturers and Wholesalers General terms and conditions of Sale and Delivery Of the Vereniging van Fabrikanten en Groothandelaren in Sportbenodigdheden (F.G.H.S.) [Dutch Association of Sport Product Manufacturers and Wholesalers]

More information