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GLOSSARY
A sale is the transfer of ownership by mutual asset of a thing from one person (the seller) to another (the buyer) for a money price.
GLOSSARY
An individual nominated to resolve disputes. Disputes are referred to an adjudicator who will then resolve them within a short timescale circa 28 days.
GLOSSARY
An employer's right to make deductions from an employee's pay.
GLOSSARY
'Utmost good faith'
GLOSSARY
The face value requirement essentially provides that an instrument is not a deed unless it is clear on its face that it was intended to be a deed by the parties to it.
GLOSSARY
Established under the Local Government and Public Involvement in Health Act 2007 Part 14 to replace Patients' Forums.
PRACTICE NOTES
The Getting the Deal Through guide to Arbitration in Brazil is presented in a Q&A format, updated annually. Current issue May 2019. 1. Is your jurisdiction a contracting state to the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards? Since when has the Convention been in force? Were any declarations or notifications made under articles I, X and XI of the Convention? What other multilateral conventions relating to international commercial and investment arbitration is your country a party to? Brazil is a contracting state to the New York Convention, having acceded to it through the issuance of Federal Decree No. 4,311/2002, on 23 July 2002. No declarations or notifications under articles I, X and XI of the Convention were made by the Brazilian government. Brazil has also agreed to the following multilateral conventions regarding international commercial arbitration: • Geneva Protocol on Arbitration Clauses (1923); • Panama Inter-American Convention on International Commercial Arbitration (1975); • Montevideo Inter-American Convention on the Extraterritorial Enforcement of Foreign Court Decisions and Arbitral Awards (1979); • Las Leñas
GLOSSARY
The employee's initial period of employment during which the employer assesses the employees' suitability for the role.
PRACTICE NOTES
This Practice Note contains a jurisdiction-specific Q&A guide to insurance and reinsurance in Indonesia published as part of the Lexology Getting the Deal Through series by Law Business Research (published: April 2022). Authors: Hadiputranto, Hadinoto & Partners (member firm of Baker McKenzie)—Mita Djajadiredja; Christofer Chandra 1. Identify the regulatory agencies responsible for regulating insurance and reinsurance companies. The Financial Services Authority (OJK) is responsible for regulating insurance and reinsurance companies. 2. What are the requirements for formation and licensing of new insurance and reinsurance companies? Law No. 40 of 2014 on insurance provides three legal forms under which an insurance business can be carried out: limited liability companies, cooperatives and mutual funds. In the private sector, limited liability companies are the most commonly used arrangement for conducting an insurance business. Prior to operating in the insurance sector, a company must obtain an insurance business licence from the OJK. New business licence applicants must satisfy the licensing requirements regulated under various OJK regulations, primarily the following: • the applicant's operational readiness (eg, qualified directors and
GLOSSARY
Company formation under the Companies Act 2006 (CA 2006) is when a company is formed by one or more persons (1) subscribing their names to a memorandum of association; and (2) complying with the requirements of CA 2006 as to registration.
PRACTICE NOTES
This Practice Note contains a jurisdiction-specific Q&A guide to insurance and reinsurance in Luxembourg published as part of the Lexology Getting the Deal Through series by Law Business Research (published: April 2022). Authors: Bonn & Schmitt—Chantal Keereman; Jean-Baptiste Meyrier 1. Identify the regulatory agencies responsible for regulating insurance and reinsurance companies. The Insurance Commission (CAA) is the official and exclusive regulatory authority in charge of the supervision of the insurance sector in Luxembourg. The CAA supervises Luxembourg-incorporated insurance, reinsurance undertakings and professionals of the insurance sector, as well as activities carried out in Luxembourg by foreign entities under the principle of freedom to provide services or to operate through branches located in Luxembourg. This supervision is performed on an ongoing basis, as the regulatory authority must ensure that the insurance and reinsurance undertakings subject to the Luxembourg legislation continue to comply with the conditions under which they are authorised to carry out their activities. 2. What are the requirements for formation and licensing of new insurance and reinsurance companies? Luxembourg insurance and reinsurance
GLOSSARY
Generally, a public auction.