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Global rules on foreign direct investment (FDI)
Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
Global | Publication | November 2018
Since 1st April 2018, a commercial or domestic property that does not achieve an Energy Efficiency Certificate (EPC) rating of E or higher is a “substandard property”. A sub-standard property must not be let until the landlord carries out “relevant” energy efficiency improvements to bring it to the required standard.
There are some exemptions (see our July Focus), one being that improvements to domestic property are only required if they are at “no cost” to the landlord, for example because local authority grants are available.
The government has decided that this exemption has resulted in the regime having “insufficient bite”. It announced on 5th November 2018 that the current regulations (The Energy Efficiency (Private Rented Property) (England and Wales) Regulations 2015) will be amended to:
Once in force, the amended regulations will apply on the grant of a new tenancy to both new and existing tenants. From 2020, they will apply to all privately rented domestic property.
Enforcement is in the hands of the local authority and its powers include the issue of fines (capped at £5,000) and the right to “name and shame”.
The changes are expected to come into force during 2019 “subject to parliamentary time” and, it is estimated, will affect about 200,000 landlords.
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Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
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On February 2, 2024, the Belgian Presidency of the Council of the European Union confirmed that the Committee of Permanent Representatives had signed the Artificial Intelligence (AI) Regulation, referred to as the AI Act. Approval by the EU Parliament followed on 13 March 2024, and the AI Act is likely to appear in the EU’s Official Journal around May 2024. The AI Act aims to establish a stringent legal framework governing the development, marketing, and utilisation of artificial intelligence within the region, thereby marking a significant advancement in the regulation of this burgeoning domain.
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In the recent decision of Euronav Shipping NV (Euronav) v Black Swan Petroleum DMCC (BSP) [2024] EWHC 986 (Comm) (the Judgment), the English Commercial Court has underscored the role of comity in international disputes.
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