NOTE—to see whether notification thresholds in Bangladesh and throughout the world are met, see Where to Notify. 1. Have there been any recent developments regarding the Bangladeshi merger control regime and are any updates/developments expected in the coming year? Are there any other ‘hot’ merger control issues in Bangladesh? The most recent and notable development in the laws related to merger control is the incorporation of the Eight Schedule, Part 1 Business Restructuring of the recently enacted Income Tax Act 2023 (Income Tax Act). As per the Income Tax Act, no tax shall be charged for any capital gain arising from any transfer of capital asset under a scheme of reconstruction (merger and demerger) subject to fulfilling certain conditions. However, any consideration received by the shareholders of the amalgamating companies, in any manner other than shares of the amalgamated company, shall be treated as taxable income. Furthermore, the law now enables the amalgamated company to adjust and carry forward the accumulated losses or unexpired depreciation allowances of the amalgamating

Questions What is the primary legislation which governs corporate insolvency? And, are there any other laws in force dealing with corporate insolvency? There are two laws that deal with bankruptcy and insolvency. They are (1) the Bankruptcy Act 1997 (Bankruptcy Act) and (2) the Companies Act 1994 (Companies Act). The Bankruptcy Act is the primary legislation that governs the bankruptcy laws in Bangladesh. While the Bankruptcy Act deals with bankruptcy in general, sections 234–321 of the Companies Act deals with the insolvency of companies. Is there any conflict of provisions in the corporate insolvency laws? No, there are no conflicting provisions between both laws. Who can initiate a corporate rehabilitation proceeding under the insolvency laws? Pursuant to the Bankruptcy Act, both the creditor and a debtor can file a petition under bankruptcy law in Bangladesh. Eligible creditors can file a petition on the ground of default of BDT 500,000 and the debtors can file a petition under the Bankruptcy Act if the debtor is unable to pay the debt amount of BDT 200,000. Whereas,

Archived:This timeline has been archived. For developments from January 2024 onwards, see EU Bank Recovery and Resolution Directive—timeline if they relate to the EU BRRD, or UK bank recovery and resolution regime—timeline if they relate to the UK bank recovery and resolution regime, For further guidance on the EU BRRD, see Practice Note: Bank Recovery and Resolution Directive (BRRD)—essentials. For further guidance on the UK bank recovery and resolution regime, see Practice Note: The UK bank recovery and resolution regime. Date Source Document Description 20 December 2023 European Banking Authority The EBA publishes amendments to disclosures and reporting on MREL and TLAC The European Banking Authority (EBA) has published its final draft implementing technical standards (ITS) on amendments to disclosure and reporting of the minimum requirement for own funds and eligible liabilities (MREL) and the total loss absorbency requirement (TLAC). The amendments reflect the new requirement to deduct investments in eligible liabilities instruments of entities belonging to the same resolution group, the so called ‘daisy chain’ framework, and other changes

This Deed is made on [insert day and month] 20[insert year] Parties 1 [insert name of Chargor], a company incorporated in England and Wales with registered number [insert company number] whose registered office is at [insert address] (the Chargor); and 2 [insert name of Lender] of [insert address] (the Lender). Recitals: (A) The Lender has agreed to make available a loan facility to the Chargor on the terms and conditions set out in the Facility Agreement (as defined below). (B) It is a condition precedent to the availability of the loan facility that the Chargor enter into this Deed for the purpose of providing security in favour of the Lender in respect of the Secured Obligations (as defined below). It is Agreed as follows: 1 Definitions and interpretation 1.1 Definitions In this Deed, unless otherwise provided: Blocked Bank Account • means the bank account designated the ‘Blocked Bank Account’ with account number [insert account number] and sort code [insert sort code] and maintained by the Chargor with the Lender (and any replacement account or subdivision or subaccount of that

This Deed is made on [insert day and month] 20[insert year] Parties 1 [insert name of Chargor], a company incorporated in England and Wales with registered number [insert company number] whose registered office is at [insert address] (the Chargor); and 2 [insert name of Lender] of [insert address] (the Lender). Recitals: (A) The Lender has agreed to make available a loan facility to the Chargor on the terms and conditions set out in the Facility Agreement (as defined below). (B) It is a condition precedent to the availability of the loan facility that the Chargor enter into this Deed for the purpose of providing security in favour of the Lender in respect of the Secured Obligations (as defined below). It is Agreed as follows: 1 Definitions and interpretation 1.1 Definitions In this Deed, unless otherwise provided: Account Bank • means [insert name of third party bank]; Blocked Bank Account • means the bank account designated the ‘Blocked Bank Account’ with account number [insert account number] and sort code [insert sort

The work and foundations of BIS The Bank for International Settlements (BIS) assists central banks in relation to monetary and financial stability. Its head office is in Basel, Switzerland, with two representative offices in Hong Kong and Mexico City. Established on 17 May 1930, BIS is the world's oldest international financial organisation and considers itself to be the principal centre for international central bank cooperation. It has its roots in settlement and administration of repatriation payments following the First World War, however, this role faded quickly. It has played a crucial role in periods of financial stability such as the oil and international debt crises. It is now well-known for its role in regulation of internationally active banks and laying down global measures for regulatory capital, known as the Basel Capital Accord. The work of BIS is set out in Article 3 of its Statutes: • to promote the co-operation of central banks • to provide additional facilities for international financial operations, and • to act as trustee or agent in regard to international financial

Bank holidays in England and Wales are New Year's Day, Easter Monday, the first and last Mondays in May, the last Monday in August, and the December 27 in a year in which 25 or 26 December is a Sunday.

A bank holiday is a holiday under the Banking and Financial Dealings Act 1971.

FORTHCOMING CHANGE relating to updating definitions for the bank levy legislation: On 16 July 2026, HMRC published draft regulations that would update various definitions used in the bank levy legislation at Schedule 19 to the Finance Act 2011 and The Bank Levy (Loss Absorbing Instruments) Regulations 2020 (SI 2020/1188). The current legislation defines certain terms by reference to regulatory laws and rules. The proposed amendments update some definitions to align them with regulatory changes and delete some definitions that are no longer required. A policy paper was also published. The amendments would have effect for accounting periods beginning on or after 1 January 2027. This Practice Note explains how the bank levy currently applies and the re-scoping of the bank levy in 2021. This Practice Note has been produced in partnership with Charlotte Sallabank and Larry Wong of Katten Muchin Rosenman. The bank levy is a tax that: • applies in respect of periods of account (defined in the legislation as chargeable periods) ending on or after 1 January 2011, and • is charged on certain types

Banking & Finance analysis: This case involved an application for an interim injunction by a contractor to restrain a bank from paying an employer under a performance bond, which secured the contractor’s payment obligations in relation to a construction contract. The employer terminated the contract based on the contractor’s alleged breaches and, although the contractor disputed this allegation, it notified the employer of its view that the termination was repudiatory and accepted as such. The High Court refused the contractor’s application, reaffirming the position that an injunction against a paying bank will only be granted on clear evidence of fraud, which was not alleged here. The court did not accept the contractor’s contention that employer’s repudiatory breach of the underlying contract discharged the bond, ruling that the bond’s standard savings clause was wide enough to include repudiatory termination. Applying the American Cyanamid test, the court ruled that damages were an adequate remedy and that the balance of convenience firmly favoured refusal of the injunction, including the avoidance of wider reputational harm to the performance bond market. Written by Robert Aulsebrook, Senior Counsel at Akin Gump LLP.

The Bank of England, established in 1694, has the exclusive right of note issue in England and Wales. As an institution it is under the control of HM Treasury and is expected to regain the power to regulate the banking industry.