Federal Corporate Income Tax and Governing law: Difference between pages
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'' | ''Law - international law - contract''. | ||
Governing law means the system of law to be applied to determine a dispute under a contract with non-domestic elements, usually specified by a ''governing law clause'' in the contract. | |||
The | |||
In the absence of a governing law clause, the applicable system of law is determined by convention, regulation or general law. | |||
:<span style="color:#4B0082">'''''LIBOR transition - USD markets - next steps - check the governing law'''''</span> | |||
:"Check the Governing Law of your contracts – for example fallbacks may differ depending on the governing law of your contract (e.g. English or New York) as legislative solutions differ by jurisdiction. | |||
:Do not assume that all USD contracts work in the same way." | |||
:''ACT blog - Sarah Boyce - Associate Director, Policy & Technical - June 2022.'' | |||
:<span style="color:#4B0082">'''''Cross-border pooling - importance of differing legal systems'''''</span> | |||
:"The governing law for the intra-group cash pooling agreements is often English law for cross-border pooling. | |||
:Alternatively the jurisdiction of the parent entity will be stipulated as applicable. | |||
:For a Zero Balancing Agreement or a Notional Pooling Agreement, the bank will in many cases provide for a standardised agreement, with the bank’s domicile providing the legal jurisdiction. | |||
:Treasurers should make themselves aware of the implications of using differing jurisdictions." | |||
:''Legal implications of cash pooling structures - the Treasurer's Wiki.'' | |||
Contracts and other relationships without foreign elements will generally be governed by domestic law. | |||
== See also == | == See also == | ||
* [[ | * [[Capacity]] | ||
* [[Contract]] | |||
* [[Court]] | |||
* [[Extraterritorial jurisdiction]] | |||
* [[Fallback]] | |||
* [[International law]] | |||
* [[Jurisdiction]] | |||
* [[Law]] | |||
* [[Legal implications of cash pooling structures]] | |||
* [[Notional pooling]] | |||
* [[Private international law]] | |||
* [[Proper law]] | |||
* [[Regime]] | |||
* [[Repatriated]] | |||
* [[Resident]] | * [[Resident]] | ||
* [[State]] | |||
* [[State immunity]] | |||
* [[Zero balancing]] | |||
==Other resource== | |||
*[https://www.treasurers.org/hub/blog/LIBOR-update-June-2022 LIBOR transition - governing law - ACT blog - June 2022] | |||
[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
[[Category:The_business_context]] | |||
[[Category:Identify_and_assess_risks]] | |||
[[Category:Manage_risks]] | |||
[[Category:Risk_frameworks]] | |||
[[Category:Risk_reporting]] | |||
[[Category:Cash_management]] | |||
[[Category:Financial_products_and_markets]] | |||
[[Category:Liquidity_management]] |
Revision as of 11:04, 18 June 2022
Law - international law - contract.
Governing law means the system of law to be applied to determine a dispute under a contract with non-domestic elements, usually specified by a governing law clause in the contract.
In the absence of a governing law clause, the applicable system of law is determined by convention, regulation or general law.
- LIBOR transition - USD markets - next steps - check the governing law
- "Check the Governing Law of your contracts – for example fallbacks may differ depending on the governing law of your contract (e.g. English or New York) as legislative solutions differ by jurisdiction.
- Do not assume that all USD contracts work in the same way."
- ACT blog - Sarah Boyce - Associate Director, Policy & Technical - June 2022.
- Cross-border pooling - importance of differing legal systems
- "The governing law for the intra-group cash pooling agreements is often English law for cross-border pooling.
- Alternatively the jurisdiction of the parent entity will be stipulated as applicable.
- For a Zero Balancing Agreement or a Notional Pooling Agreement, the bank will in many cases provide for a standardised agreement, with the bank’s domicile providing the legal jurisdiction.
- Treasurers should make themselves aware of the implications of using differing jurisdictions."
- Legal implications of cash pooling structures - the Treasurer's Wiki.
Contracts and other relationships without foreign elements will generally be governed by domestic law.
See also
- Capacity
- Contract
- Court
- Extraterritorial jurisdiction
- Fallback
- International law
- Jurisdiction
- Law
- Legal implications of cash pooling structures
- Notional pooling
- Private international law
- Proper law
- Regime
- Repatriated
- Resident
- State
- State immunity
- Zero balancing