Carbon capture and storage (CCS) is a quickly evolving next generation technology which mitigates climate change by capturing and storing carbon dioxide (CO2) before it is released into the atmosphere. CCS technology reduces carbon emissions so plays an essential role in meeting global and regional temperature targets. This Special Report explores the most recent regulatory, political and economic trends and themes arising from CCS technologies and projects. This Special Report will give readers a firm grasp of the political and regulatory landscape for CCS technologies and projects from both a legal and business perspective. Key sections of the report include: *Overview on CCS technologies, technical advances and challenges *Economics of CCS technologies and projects *Public funding frameworks and programs *CCS strategies and model projects *International and national regulatory frameworks. Pilot CCS projects are successfully proliferating and this Special Report provides the regulatory and political insights to succeed in the rapidly changing CCS market. It will be an invaluable resource for in-house counsel, senior managers, engineers, consultants, researchers and policy makers with an interest in the energy sector and CCS technologies and projects.

The survey underpinning this invaluable work was inspired by an increasing appreciation within the EU of the need to achieve some degree of direct tax harmony. The essential starting point for such an undertaking is a set of standardized rules for the computation of EU-wide income. Company law developments point to the International Accounting Standards (IAS) / International Financial Reporting Standards (IFRS) financial statements as a basis from which to work. IFRS are now required for published group accounts and are allowed for single-company financial statements. However, as explained in the text, there are serious drawbacks to basing any form of national taxation on IFRS as they stand. IFRS are not designed with tax policy objectives in mind and change too frequently to satisfy any claim to tax legal certainty. Public debate is hampered by a general lack of knowledge of tax accounting customs in other countries, especially as reliable works are often only available in the local language. This comprehensive survey conducted by the universities of Goettingen, Mannheim, and Erlangen-Nuremberg with the support of PricewaterhouseCoopers fills that gap. For the first time, details of the tax computations for corporations from all twenty-five member states of the EU have been collated in a common format and are compared with the IFRS treatment. The book is an invaluable reference work providing the practitioner with a broad range of information on the tax accounting rules in all EU countries. The reader seeking a general impression of the scope of the problem will quickly see the amount of adjustment needed if IFRS is taken as a starting point for designing a set of common tax accounting rules. The reader seeking a basis for taking an active part in the public debate will find a wealth of detail in the Appendices showing exactly how each country computes taxable income and grants tax incentives. The work, unrivalled in the literature, addresses a major knowledge deficit; its tabular form presentation allows exact comparison between all EU countries as well as between the present rules of any one country and the IFRS requirements.

This book analyses different strategies and their results in implementing financial regulation in terms of rule-making, public enforcement and private enforcement. The analysis is based on a comparative study of conduct of business regulation on mis-selling of financial instruments in the UK and South Korea. It extends into liquidity regulation in the banking sector and credit rating agency regulation. The book concludes that in rule-making, purposive rules are more effective for achieving regulatory goals with minimal undesirable results, but a rule-making system with purposive rules can only work on a foundation of trust among rule-makers, enforcers and the regulates, that with respect to public enforcement, the enforcement strategies should combine the compliance-oriented and deterrence-oriented approaches and be continuously adjusted based on close monitoring of the regulatory outcomes and that in private enforcement, regulation should be instituted as the minimum requirement in private law.

This book analyses EU food law from a regulatory, economic and managerial perspective. It presents an economic assessment of strategies of food safety regulation, and discusses the different regulatory regimes in EU food law. It examines the challenges of food safety in the internal market as well as the regulatory tools that are available. The book's generic theorising and measurement of regulatory effects is supplemented by detailed analysis of key topics in food markets, such as health claims, enforcement strategies, and induced risk management at the level of the organizations producing food. The regulatory effects discussed in the book range from classical regulatory analysis covering e.g. effects of ex-ante versus ex-post regulation and content-related versus information-related regulation to new regulatory options such as behavioral regulation. The book takes as its premise the idea that economic considerations are basic to the design and functioning of the European food supply arena, and that economic effects consolidate or induce modification of the present legal structures and principles. The assessments, analyses and examination of the various issues presented in the book serve to answer the question of how economic theory and practice can explain and enhance the shaping and modification of the regulatory framework that fosters safe and sustainable food supply chains.

The corporate-tax policy of the European Commission has proved one of the major failures in the history of the European Community. Despite efforts by the Commission throughout the 30 years of its existence, and pressure from the business community, little progress has been made in harmonizing corporate taxation in the EU; the Commission's proposals have almost always been turned down at the Council level. Yet harmonization is a crucial step in establishing a common market in Europe. This examination of the efforts of the European Commission to achieve harmonization bases its analysis on the study of theoretical economic models of corporate-tax systems which meet the requirements of a common market and avoid economic inefficiencies, and on an examination of the US federal tax system. Through the examination of theoretical models as well as practical examples, the author studies why repeated attempts at harmonization have failed and concludes that they must take into account not only economic aspects, but also political and legal factors. Harmonization of corporate taxation is not only a legislative exercise; other institutions, such as the EC Court, have an important role to play in the harmonization process, as the US federal experience suggests. The book concludes with a model for corporate-tax harmonization which takes into account both economic theory and the realities of the political and legal process.

The American cigarette industry is again facing enormous pressure from various groups whose goal is a smoke free society. What differentiates this present wave from the previous two waves of regulation faced by the cigarette industry is the severity with which these measures are applied by the state and local government who are enacting anti-smoking laws and regulations and increased excise taxes. Cigarette taxes are a lucrative revenue for the states, which they must ultimately trade-off with their stated goals of deterring smoking. Frequently, in spite of the needs of public health, states find themselves competing with one another for these excise tax revenues and cigarette sales, making them the primary point of challenge for the cigarette industry.

The book offers a comprehensive perspective on the highly topical issue of protecting and promoting labour standards in international economic law and the globalized economy. For the purpose of an in-depth analysis of both the specific and the fundamental aspects in this regard, it combines views from specialized academics of the legal and political sciences as well as experienced practitioners. The contributions to this book do not only reveal recurring obstacles but also point at best practices and potential for synergies, providing important guidance for future research and practice in international economic and labour law and policy.

This international collection studies how the financial crisis of 2007 and the ensuing economic and political crises in Europe and North America have triggered a process of change in the field of economics, law and politics. Contributors to this book argue that both elites and citizens have had to rethink the nature of the market, the role of the state as a market regulator and as a provider of welfare, the role of political parties in representing society's main political and social cleavages, the role of civil society in voicing the concerns of citizens, and the role of the citizen as the ultimate source of power in a democracy but also as a fundamentally powerless subject in a global economy. The book studies the actors, the areas and the processes that have carried forward the change and proposes the notion of 'incomplete paradigm shift' to analyse this change. Its authors explore the multiple dimensions of paradigm shifts and their differentiated evolution, arguing that today we witness an incomplete paradigm shift of financial regulations, economic models and welfare systems, but a stillbirth of a new political and economic paradigm.

Professional services are a key component of the EU internal market economy yet also significantly challenge the legal framework governing this internal market. Indeed, specific professional regulatory structures, which are often the result of a blend of government and self-regulation, hold clear potential for conflict with EU free movement and competition law rules. Hence this book looks at the manner in which both free movement and competition laws might apply to such self- and co-regulatory set-ups, and at the leeway given to quality considerations (apparently) conflicting with free movement or competition objectives. In addition, since court action will seldom suffice to genuinely integrate a market, the book also explores those instruments of EU secondary legislation that are likely to impact the most on the provision of professional services. However, the book goes beyond a mere inventory to ask how EU Internal Market policy could contribute to the optimal legal environment for professional services. A law and economics analysis is employed to investigate the need for specific professional rules, the preferred type of regulator (self-, co- or government regulation), and the level - national and/or European - at which regulation should be adopted. As becomes clear, the story of the market for professional services is one of market and government failure; the author is thus left to compare imperfect situations where market failures compete with rent-seeking efforts, the tendency towards over-centralisation and national protectionism. This book offers both an in-depth legal analysis of the EU framework as it applies to professional services as well as a more normative evaluation of this framework based on insights from law and economics scholarship. It will therefore be a valuable resource for all practitioners, policy-makers and academics dealing with professional services, as well as, more generally, with questions of quality and self-regulation.

The aim of this book is to provide a shareholder investing in a foreign company with practical information on the various means of protection and the ways in which such protection can be judicially enforced in the respective foreign country. It contains 15 reports on almost all of the major European jurisdictions as well as on the USA. The reports answer such questions as: what are the requirements for shareholders' resolutions?; what rights of information does a minority shareholder have?; how can he influence the decision-making process?; and does a minority shareholder have the right to demand a dividend and to participate in capital increases?

Increasingly, in both common law and civil law jurisdictions, lawyers are seeking to formulate a law of restitution that can provide a reliable remedy in unjust enrichment actions. This pursuit has generated renewed interest in how the law of obligations should be divided. The movement can be seen as both a product of the recent calls for, and recognition of, an English law of restitution and a consequence, in civil law jurisdictions (where traditionally taxonomy has been taken far more seriously), of the modern quest for a general remedy which will overcome the widely-felt disadvantages of existing alternatives. This collection of essays is concerned with these modern developments. It identifies what constitutes unjust enrichment at the plaintiff's expense, and its available remedies, in a number of jurisdictions. Authors explore the boundaries between the law of restitution, the law of torts, and the law of contract. Their analyses reveal how the principle of restitution has permeated, hesitatingly at first and then with greater force, on a case-by-case basis, not only private law but also administrative law, criminal law, and other branches of the law. In the final analysis, unjust enrichment proves to be anything but a Trojan horse smuggled into the well-built structure of the law of obligations; it is a fully-fledged cause of action deserving an appropriate and satisfactory remedy. Scholars and jurists from thirteen countries met in Amsterdam on 18-20 October 2000, for a conference commemorating the late Professor Marcel Henri Bregstein (1900-1957). This book, which presents revised versions of the papers read during this conference, greatly clarifies the status and primary trendsin this important area of legal theory and practice, and is sure to be of value to legal scholars and practitioners everywhere.

This book gathers selected peer-reviewed papers from the 14th World Congress on Engineering Asset Management (WCEAM), which was held in Singapore on 28-31 July 2019, as well as papers presented during the 1st WCEAMOnline event which focused on the ramifications of Covid-19 on infrastructure systems. This book covers a wide range of topics in engineering asset management, including: asset management services provisioning; servitization; decision-making; asset management systems; industrial Internet of things; and vulnerability and resilience of infrastructure systems. The breadth and depth of these state-of-the-art, comprehensive proceedings make them an excellent resource for asset management practitioners, researchers and academics, as well as undergraduate and postgraduate students.

This open access book provides answers to key open questions concerning competition policy in emerging economies, with a focus on South Eastern Europe. The contributions address two major issues. One is the design of competition policy and the national competition authorities that enforce it, including the topics of competition advocacy and state aid control; the other is the use of economic methods in competition law enforcement, especially in the cases of relevant market definition and merger control. Many lessons learned in the countries of South Eastern Europe can be applied to the emerging markets of other regions. As such, the findings presented here will be highly relevant for officials and staff at national competition authorities, advisers to legislators shaping national competition policy, competition law professionals, and university students alike.

'History has a way of repeating itself in financial matters because of a kind of sophisticated stupidity,' John Kenneth Galbraith once wrote. In this superb new book, Ross Buckley suggests that the stupidity identified by Galbraith can be traced to the persistence of an inadequate legal system for the regulation of international finance − a system rooted in the failure of economists and investors to take the legal demands of real-world finance seriously. Everywhere, trade is glorified while finance tends to be taken for granted. Yet financial flows far exceed trade flows, by a factor of over sixty to one; international financial transactions represent a far greater proportion of the practice of most major law firms than do trade transactions; and international finance, when it goes wrong, brings appalling suffering to the poorest citizens of poor countries. In a powerful demonstration of how we can learn from history, Professor Buckley provides deep analyses of some of the devastating financial crises of the last quarter-century. He shows how such factors as the origins and destinations of loans, bank behaviour, bad timing, ignorance of history, trade regimes, capital flight, and corruption coalesce under certain circumstances to trigger a financial crash. He then offers well-thought out legal measures to regulate these factors in a way that can prevent the worst from happening and more adequately protect the interests of vulnerable parties and victims. In the course of the discussion he covers such topics as the following:A* the roles of the Bretton Woods institutions in the globalisation process;A* global capital flows;A* debtor nation policies;A* the effects of the Brady restructurings of the 80s and 90s;A* fixed versus floating exchange rates;A* the social costs of IMF policies;A* debt-for-development exchanges; andA* the national balance sheet problem.Professor Buckley's far-reaching recommendations include details of tax, regulatory, banking, and bankruptcy regimes to be instituted at a global level.As a general introduction to the international financial system and its regulation; as a powerful critique of the current system's imperfections; and most of all as a viable overarching scheme for an international finance law framework soundly based on what history has taught us, International Financial System: Policy and Regulation shows the way to amending a system that repeatedly sacrifices the lives of thousands and compromises the future of millions.

Written from the perspective of a practising company lawyer, this work is principally concerned with two broad duties owed by directors of British and Australian companies: to act honestly, in good faith and for proper purposes; and to exercise care and diligence. Public attitudes towards directors have altered since the mid-1980s, and the business community has raised its expectations of directors. In response to this shift in public feeling, parliament and the judiciary are adopting a new approach to directors' duties, widening the scope of duties imposed on directors and encouraging a more rigorous approach to corporate governance. This text analyzes this new approach, with reference to English and Australian case-law, and explores the courts' attempts to deal with the myriad of competing interests found within the morass of legal rules, equitable principles and statutory enactment which comprise modern company law. In examining modern case-law and legislation, the author addresses some of the more contentious and controversial issues which directors in the 21st century will need to confront in order to properly discharge the legal, equitable and statutory requirements of their office. The subject of directors' duties is of theoretical and practical importance, from economic, political as well as social perspectives. This text should be of use to all lawyers, policymakers, academics and researchers working in this complex and rapidly changing field of the law.

Within an environment made difficult by the continuing economic crisis, the Italian model for crisis management and resolution has helped to avoid many difficulties faced by intermediaries across the globe. However, the Italian model for crisis management will be forced to adapt to the new EU Bank Recovery and Resolution Directive, which introduces a unified regime for such events in all EU countries. This book explores the various methods for crisis management employed in Italian finance. The authors discuss procedures used in the banking and insurance sectors, such as deposit guarantee schemes and alternative dispute resolution systems. They also explore the evolution of the administrative sanctioning systems, and the roles of tax rules and credit rating agencies in Italian finance. This book analyses the evolution of the various crisis management processes, and discusses potential goals and improvements within the context of recent measures suggested by the European Commission.

China's boldest advocate for press and speech freedom provides a collection of his 1981-1999 arguments for greater freedom of press and speech, as presented to China's government, Party officials, and its intellectual community. Sun is the former Director of the Institute of the Institute of Jouranlism and Communication and the original Director of the Committee to Draft China's Press Law. His published articles-and four new ones for this book-chronicle a continuum of painstaking, relentless, and, ultimately, influential logic. He elucidates the media's disastrous role in the Cultural Revolution, the characteristics of socialist press freedom, the counter-productivity of centralized media governance, the need for law and for media diversity, and the freedoms necessary to empower the proletariat. Sun's intention is not opposition. He evokes the country's founding premises, the principal power of the proletariat, and the pattern of early, market economy successes to chisel away at entrenched centralism and lingering feudalism. This collection offers rare entry into the mind of an exceedingly brave and principled man who-for 20 years-has declared those principles through unmitigating difficulty and dullness. An important think-piece for all scholars and researchers involved with press freedoms and contemporary China.

This is the second volume to appear in the "AIJA Law Library" series. It has been prepared by members of the AIJA Standing Commission on International Arbitration under the editorship of Peter Eijsvoogel. It is intended to be a reference work for practitioners in the field of international arbitration, both counsellors and arbitrators. The book features 20 national reports from major jurisdictions. These outline the general character of the legal system in respect of ADR procedures, sources of procedural rules for arbitration, law and practice on documentary evidence and submissions, testimonial evidence and the involvement of experts. In addition, the text contains a detailed analysis of the legal rules pertaining to the taking of evidence in both civil and common law systems, and highly practical contributions relating to deposition skills.

This volume focuses on the responsibilities of online service providers (OSPs) in contemporary societies. It examines the complexity and global dimensions of the rapidly evolving and serious challenges posed by the exponential development of Internet services and resources. It looks at the major actors - such as Facebook, Google, Twitter, and Yahoo! - and their significant influence on the informational environment and users' interactions within it, as well as the responsibilities and liabilities such influence entails. It discusses the position of OSPs as information gatekeepers and how they have gone from offering connecting and information-sharing services to paying members to providing open, free infrastructure and applications that facilitate digital expression and the communication of information. The book seeks consensus on the principles that should shape OSPs' responsibilities and practices, taking into account business ethics and policies. Finally, it discusses the rights of users and international regulations that are in place or currently lacking.

In this accessible yet rigorous textbook, Patrick McNutt presents a clear and refreshing approach to a wide range of topics in law, economics and antitrust. The issues covered include duty and obligation, contracting, liability, property rights, efficient entry, compensation, oligopoly pricing, issues in strategic antitrust and merger analysis. Using a selection of case studies where appropriate, and examples based in game theory, the book examines these issues from both a law and economics and a microeconomics perspective. Emphasis is placed on a thorough assessment of the economic and legal arguments, blending the rigours of microeconomic analysis with common law standards. The analysis contained in the book will not only review, and indeed adapt neoclassical economic analysis but will also apply some of the methodology from the relatively new paradigm known as 'law and economics' to many of the issues. The book also addresses the increasing overlap between emerging approaches in public choice and in law and economics. Practitioners in competition law and regulation of utilities will draw great value from this original and pertinent volume, as will scholars in the areas of regulation, competition law, competition policy and law and economics.

A comparative lega, economic and political analysis of the impact of constitutional law and of international economic law on the foreign trade laws and policies of the major trading countries. The countries covered include the United States, Japan, EC and EFTA countries, plus regional trade organizations such as the EEC and EFTA. Developments such as the Cadana-US Free Trade Agreement are also covered. As the benefits of constitutionalism and liberal trade do not depend on the nationalities of traders, producers and consumers, the contributions criticize the frequent "double standards" of "fair trade laws" and suggest "constitutionalism reforms" of international and domestic foreign trade laws and policies.

'This fine collection of essays demonstrates in a very articulate way why EU State aid law has taken the centre stage of EU law. In eighteen chapters the reader is provided with a fascinating snapshot of the main issues and developments of the law. The key elements of the EU policy are analysed in a critical way often leading to new insights. In addition the book contains a wealth of material greatly facilitating further research.' - Piet Jan Slot, University of Leiden, the Netherlands 'European state aid law needs more self-questioning and more intellectual debate. In my view, this Research Handbook is a very valuable contribution to this necessary process. It correctly identifies the most intellectually problematic issues within state aid law and asks the right questions. This may be due to the balance in the excellent selection of contributors, coming both from the academia and from practice. This guarantees, on the one hand, that the questions are relevant in practice and not purely theoretical but also provides, on the other hand, for a rigorous analytical approach when confronting the issues. The result is a fresh and interesting new look to many of the basic issues of state aid law.' - Jose Luis Buendia Sierra, Garrigues, Brussels, Belgium, and King's College London, UK This timely new Handbook reflects on current issues that confront State aid law and policy in the EU. State aid was a neglected area of competition law until attempts to modernize it became central to the Lisbon process 2000 where the aim was to encourage 'intelligent' State aid by reducing aid to specific sectors and by making better use of aid for horizontal projects central to EU integration concerns. This policy framework has underpinned the new approach to State aid policy in the EU in recent years and informs many of the chapters in this book. Contributions from leading academics, regulators and practising lawyers, discuss topics devoted to modernization, problems faced by recent enlargements of the EU, the role of State aid in the fiscal crisis and recession, the role of the private market investor test, regional aid, environmental aid and the review of the Altmark ruling. Perspectives on State aid law and policy from the disciplines of economics and political science are also explored in detail. Research Handbook on European State Aid Law will appeal to academics, regulators, national and EU government officials, practitioners and postgraduate students who are involved in State aid law. Contributors: C. Ahlborn, A. Bartosch, A. Biondi, A. Birnstiel, M. Blauberger, L. Coppi, M.-A. Dittel, M. Everson, M. Farley, L. Hancher, H. Heinrich, H.C.H. Hofmann, K.-O. Junginger-Dittel, J. Kavanagh, T. Kleiner, M. Krajewski, R. Kramer, A. Lykotrafiti, C. Micheau, A. Morini, P. Nebbia, G. Niels, D. Piccinin, S. Pilsbury, F. Salerno, M. Schutte, E. Szyszczak