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Canadian employment and labour quarterly
This newsletter will keep employers up to date on Canadian employment and labour developments and best practices.
Global | Publication | October 2019
After almost a year since the draft revised Regulations on the Administration of Foreign Invested Bank1 (the Regulations) were published for public comment, the formal Regulations were promulgated on October 15, 2019.
The formal version of the Regulations does not differ very much from the previous draft, but compared to the 2014 version, there are quite a number of notable changes that liberalize restrictions on foreign investment in the retail banking sector in China.
The new Regulations no longer require the sole/principal Chinese shareholder of a joint venture bank to be a financial institution, although the sole/principal foreign shareholder must still be a commercial bank. This change provides foreign investors with a wider choice of Chinese joint venture partners.
The previous requirement for a foreign investor to have total assets of not less than:
no longer applies.
The removal of this requirement is good news for smaller sized foreign banks looking to enter the Chinese market.
The new Regulations have removed the single presence restriction and now allow a foreign bank to set up:
In addition, it is no longer a requirement for the branch’s business to be limited to wholesale banking.
These recent developments are very encouraging and will hopefully result in more foreign banks (in particular banks that are smaller and innovative) entering into or expanding their business in the China retail banking market. However, it remains to be seen how these new Regulations are implemented in practice and it is expected that implementation rules in respect of the new Regulations will be issued in order to provide more clarity and practical guidance on these key reforms.
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This newsletter will keep employers up to date on Canadian employment and labour developments and best practices.
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In this edition we provide a reminder of the main provisions and implications of the Terrorism (Protection of Premises) Act 2025 since its Royal Assent, and discuss the potential for a long-awaited strategic shift for infrastructure projects following the formation of the National Infrastructure and Service Transformation Authority. We also discuss the outcome and significance of an interesting court of appeal case considering boundary agreements and provide an update on recent tax events affecting the real estate sector.
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Te Board of Directors of Pemex approved the Guidelines for Mixed Development Schemes of the Public State Company, Petróleos Mexicanos (Agreement CA-025/2025, the “Guidelines”), published in the Federal Official Gazette (DOF) on April 29, 2025.
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