One Of The Burning Questions In Construction Project – Are You Entitled To Reduction Of Liquidated Damages Upon Sectional Completion?

Introduction Liquidated damages is not uncommon in a contract of a construction project where the assessment of financial loss of a delay is intractable and costly. By including a liquidated damages clause in the contract instead of resorting to the general damages remedy, contracting parties can better manage the risk of delay and anticipate the […]

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Streamlined Requirements For Eligible ETFs Adopting A Master-feeder Structure

Introduction On 16 December 2019, the Securities and Futures Commission (“SFC”) first introduced in its circular a streamlined approach with regard to the authorization of index tracking feeder exchange traded funds (“ETF”) adopting a master-feeder structure (the “2019 Circular”). Since then, an SFC-authorized feeder ETF may invest its assets in an overseas-listed master ETF without […]

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Rule Amendments On Bookbuilding And Placing Activities In Equity Capital Market Transactions And Sponsor Coupling

Introduction In our newsletter published November 2021, we discussed the Securities and Futures Commission’s (the “SFC”) conclusion on its consultation on conduct requirements for bookbuilding and placing activities, under which the SFC announced the new requirements to be introduced as paragraphs 17.1A and 21 to the Code of Conduct for Persons Licensed by or Registered with […]

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Disciplinary action by SFC for AML breaches

Introduction On 16 March 2022, the Securities and Futures Commission (the “SFC”) reprimanded and fined Emperor Securities Limited and Emperor Futures Limited (collectively, “Emperor”) for failures in complying with anti-money laundering and counter-terrorist financing (“ML/TF”) regulatory requirements pursuant to section 194 of the Securities and Futures Ordinance (“SFO”). The regulatory requirements The relevant regulatory requirements are […]

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Cross-Border Dispute Resolution with the Greater Bay Area

Hong Kong’s Role Hong Kong plays a key role in the development of the Greater Bay Area (“GBA”) and was identified in the GBA’s Outline Development Plan (“Outline Plan”) released in 2019 as establishing itself as a centre for international dispute resolution centre for the Asia-Pacific region as well as commercial disputes relating to Belt and Road […]

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Hong Kong’s COVID-19 Vaccination Programme: Employer Considerations

The Hong Kong government has commenced implementation of a COVID-19 vaccination programme intended to cover all Hong Kong residents across the territory. Vaccinations are offered free of charge with the stated aim of safeguarding public health and helping to allow further easing of restrictions and a gradual return to normal life and activities. At this […]

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Stop, Start, Change of Heart – Pulling out of an Employment Contract Between Acceptance and Commencement

The path between accepting a new job and commencing the new role should be simple. And in most cases it is. But there are significant implications if either party (individual or employer) changes its mind and decides not to proceed with the employment at some point between acceptance of the offer and the legal commencement […]

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Rights and Wrongs in Wrongful Dismissal

Wrongful Dismissal in Hong Kong Termination of employment in Hong Kong is a sensitive issue, which has a direct impact on the welfare and emotions of those affected. Employees who face termination often feel ‘wronged’ by their employers, and their immediate response is to seek recourse for what they consider to be a ‘wrongful’ termination. […]

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Julia Charlton attends reception today at 10 Downing Street to mark the 2022 Commonwealth Heads Government Meeting

Delighted to attend a reception today at 10 Downing Street to mark the 2022 Commonwealth Heads Government Meeting & celebrate the UK’s business, trade and investment relationships across the Commonwealth. Good to hear Boris Johnson emphasising the importance and growth potential of Commonwealth trade and business. Thanks and congratulations to Commonwealth Enterprise and Investment Council for all their great […]

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Rights and Wrongs in Wrongful Dismissal

Table of Contents Wrongful Dismissal in Hong Kong General Right to Terminate Valid Reason for Termination Statutory Protections and Unlawful Dismissal Wrongful Dismissal Misconceptions and Complications The Right Approach Wrongful Dismissal in Hong Kong Termination of employment in Hong Kong is a sensitive issue, which has a direct impact on the welfare and emotions of […]

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Important Changes To Trust Legislation

You may not be aware of some new legislation which has been announced that forces nearly all trusts to register with HMRC before 1 September 2022, whether or not they have a liability. The new rules impose penalties for non-compliance which will include many arrangements that have not previously needed to be reported. If you […]

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