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Klaus Henrik Wiese-Hansen Christoffer N Sortland Implementation of the Alternative Investment Fund Managers Directive (AIFMD) in Norway is gradually nearing. On February 18 2014, the Ministry of Finance sent a draft for new regulations on public hearing, with a deadline for comments of May 18 2014. This article provides a short summary of the draft regulations, which partly concerns the EU Commission Delegated Regulations under the AIFMD. Norwegian authorities failed to implement the AIFMD within the transposition deadline of July 22 2013. The Ministry of Finance is drafting an AIFM Act, which is expected to be proposed before Easter 2014. Implementation of the AIFMD in Norway will probably take place on or around July 1 2014.

Beatriz Causapé Guayente Gállego Spanish Royal Decree-Law 4/2014, passed on March 7 2014, has considerably changed the rules for the court-sanctioning of so-called Spanish schemes of arrangement. Among those changes, the reform has lowered the majorities required to achieve a Spanish scheme. Currently, a majority of at least 51% of the financial liabilities held by all creditors at the time of the refinancing agreement (acuerdo de refinanciación) approval, will suffice to request the insolvency judge to sanction the agreement, so it is considered ring-fenced and protected from any challenge for rescission.

Selva Quintero In the 1990s, the National Government decided to carry out a comprehensive reform of the electricity sector.? To this end, it enacted the Law of January 26 1996 (Law 26), which created the then-called Regulator of Public Services, an entity in charge, as its name implies, of regulating the telecommunications, potable water, and electricity sectors.

Vijaya Sampath As of April 1 2014, 283 sections of the Companies Act 2013 (of the total 470 sections) and the related rules dealing with these sections have been notified by the Ministry of Corporate Affairs. Many new concepts have been introduced, the scope of others has been widened and many sections in the previous Act of 1956 have been dropped. Some of the new concepts range from new classes of one person and small companies to shareholder empowerment through class action suits. Certain profit-making companies have to spend 2% of their average net profits in the three preceding financial years on specified social schemes, or explain their reasons for not doing so.

Noyan Turunç of TURUNÇ discusses collective labour relations under Turkish law

Kemal Aksel and Begum Incecam at Kolcuoglu Demirkan Kocakli give an overview of squeeze-out mechanisms in Turkey, as regulated by the new Communiqué on Squeeze-out and Sell-out Rights

Zeynel Tunc and Cem Tahir of Paksoy describe Turkey’s ambitious PPP programme for a growing population looking for improved healthcare facilities

Memet Yazici, managing partner at TRPE Capital, explains why he thinks SMEs are the next big thing in Turkey

Following the Renewable Energy Act 2011 (RE Act) which came into force in December 2011, the implementation of the feed-in tariff (FIT) mechanism under the RE Act has been an overwhelming success. After the FIT mechanism was implemented in Peninsular Malaysia over a period of two years, Malaysia had a cumulative total of 119MW of renewable energy connected to the grid as opposed to only 61.2MW of renewable energy capacity connected to the grid from the implementation of the earlier, small renewable energy power programme, which spanned a period of 10 years.

Teruyoshi Takahashi On April 1 2014, Tokyo Stock Exchange enforced an Amendment to the Securities Listing Regulations. Events that will trigger timely disclosure for listed real estate investment trust (REIT) securities (disclosure events) are substantially expanded. This Amendment was brought about in connection with the Amendment to the Financial Instruments and Exchange Act as of April 1 2014, which made insider trading rules applicable to the trading of listed investment units issued by J-REITs which invest in real estate properties. Under the new Securities Listing Regulations, the following items (in summary and not limited to the following) are newly provided as disclosure events (for some items, exemptions are provided in the Enforcement Rules for Securities Listing Regulations):