Publication
What M&A trends will transform the 2024 insurance landscape?
It is widely accepted that 2023 was one of the worst years in recent memory for M&A activity.
Global | Publication | February 2016
However, the Resolution allows for a transition period in relation to permits that were granted by the environmental authorities prior to 1 January 2016, namely:
a) In respect of generators that had a valid dumping licence on the date that the Resolution came into force, and which were complying with the terms, conditions and obligations imposed under the licence, they must comply with the new rules within 2 years of the date of the Resolution, i.e. before April 2017.
b) In respect of any generators that had a valid dumping licence on the date that the Resolution came into force, and which were complying with the terms, conditions and obligations imposed under the licence, and which further opted to implement a “Conversion to Clean Technology in Waste Management Plan”, the deadline will be extended for a further 3 years, i.e. the new rules must be applied before April 2020.
c) In respect of any generators that had a valid dumping licence on the date that the Resolution came into force, but which were not complying with the terms, conditions and obligations imposed under the licence, they must comply with the new dumping regulations within 18 months of the date that the Resolution came into force, i.e. before October 2016.
d) In respect of any waste generator that was not complying with the terms, conditions and obligations imposed under its licence but which has opted to implement a “Conversion to Clean Technology in Waste Management Plan”, the deadline is extended for 2 years i.e. the new rules must be applied before October 2018.
e) Any Implementation Plans which were approved before the Resolution came into force must be amended and new approvals sought within 6 months from the date that the Resolution was published. This means that any such plans had to be amended and approved by October 2015.
Having complied with the relevant steps, all generators of any waste that is disposed of in surface water or in public sewer systems must invoke the new regulations within the relevant timeframes. If they fail to do so, they could be liable for environmental sanctions.
Please note that there is an inconsistency in the drafting of the regulations in relation to the system for the calculation of the various deadlines, as the Article refers to both the publication (April 2015) and the coming into force (January 2016) of the Resolution, which in the case of the Resolution are different. For this reason, the dates mentioned above are subject to confirmation. We have raised a query with MADS and as soon as we receive a definitive response we will update this alert.
Publication
It is widely accepted that 2023 was one of the worst years in recent memory for M&A activity.
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The ongoing conflicts and further geopolitical tensions in Eastern Europe and the Middle East, coupled with upcoming elections in a number of key countries including the US and the UK, make 2024 challenging to predict what impact this will have on the insurance sector.
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On 6 September 2022, the European Commission (EC) prohibited Illumina’s acquisition of Grail, bringing to an end the administrative stage of a legal saga that has attracted interest beyond competition law specialists.
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