http://blogs.law.harvard.edu/tech/rsshttp://www.bmj.bund.deBMJ-NewsRSS feed of the Federal Ministry of JusticeWed, 30 Sep 2009 12:52:04 +0200http://www.bmj.bund.de/enid/5aa2e1f8309fdfa51fa6811b37c9714c,ced10f6d6f6465092d09093a09636f6e5f6964092d0936323534/Press/Press_Releases_zg.htmlThe law proposed by Federal Minister of Justice Brigitte Zypries to strengthen investors' rights, particularly to improve the enforcement of investors' claims in the case of mis-selling of securities and to revise the German legislation on bonds, can now come into force following promulgation. The Act to Reform Legal Relationships for Bonds Constituting Part of a Uniform Issue and to Improve the Enforceability of Investors' Claims Based on Misselling contains inter alia the following main provisions regarding bonds: Revised version of the German Bond Act (Schuldverschreibungsgesetz) The law contains a revision of the German Act on Joined Rights of Holders of Notes (Bond Act) of 1899. The old Bond Act limits bondholders' rights too strongly from today's perspective and its procedure is out of date. Since the bond markets have become international, the German Bond Act is to be adapted as far as possible to internationally usual requirements. The new version makes it clear that the terms and conditions of bonds [...]Wed, 30 Sep 2009 12:52:04 +02001eb6b11b5f9fe4ac4e8a48be368a4ecdhttp://www.bmj.bund.de/enid/5aa2e1f8309fdfa51fa6811b37c9714c,b599766d6f6465092d09093a09636f6e5f6964092d0936323335/Press/Press_Releases_zg.htmlThe German Bundestag today adopted the Gesetz zur Angemessenheit der Vorstandsvergütung (VorstAG, Act on the Appropriateness of Management Board Remuneration). By virtue of a number of different rules, the new Act ensures inter alia that, when executive renumeration is determined by the supervisory board, there will be a greater focus on incentives concerning the company's long-term development. A further objective of the Act is to make it easier for these salaries to be cut in the event of the company's situation worsening. "One of the factors that contributed to the financial market crisis was the fact that the incentives in remuneration systems promoted the wrong kind of conduct. This became clear in autumn last year. The discussion about management board salaries that had already begun under different auspices consequently took a turn in a different direction. In the past, the approach in many companies was too focused on the attainment of short-term parameters, such as turnover figures or stock market [...]Wed, 16 Sep 2009 11:23:25 +0200b61d5726b102a0a8b2611b66302ab632http://www.bmj.bund.de/enid/5aa2e1f8309fdfa51fa6811b37c9714c,cb68916d6f6465092d09093a09636f6e5f6964092d0936323230/Press/Press_Releases_zg.htmlUpon the initiative of German Minister of Justice Brigitte Zypries, the German government's amicus curiae brief in the legal dispute over book searches on Google has been filed with the responsible New York court. The deadline for submission of objections to and reservations against the so-called Google Book Settlement, agreed between U.S. associations of authors and publishers and Google, is 4 September 2009. The German government will be represented at the fairness hearing on 7 October, after which the Court will decide whether the proposed settlement may be approved as fair, appropriate and reasonable and may thus take effect. Said Minister Zypries in Berlin, "We hope that the New York court rejects the proposed settlement as a whole, or that it at least removes our German authors and publishers from the class so that they are not affected by the settlement. German rights holders may then make their own decisions as to which rights, if any, they assign to Google. The German government's primary aim is to [...]Thu, 03 Sep 2009 06:45:59 +02003b7457c3e74aab501e5f5be2ebcfc39ahttp://www.bmj.bund.de/enid/5aa2e1f8309fdfa51fa6811b37c9714c,eeb81a6d6f6465092d09093a09636f6e5f6964092d0936303133/Press/Press_Releases_zg.htmlGerman Bundestag passes the Act Implementing the Shareholders' Rights Directive: Good news for online shareholders, bad news for vexatious litigants The German Bundestag today passed the Act Implementing the Shareholders' Rights Directive (ARUG). Better shareholder information will be one result, and it will be easier for shareholders to exercise their voting rights. As well as including provisions that make it easier for banks to exercise proxy voting rights, the Act aims to increase shareholder presence at general meetings. The new legislation makes life more difficult for what have become known as "predatory shareholders" and also contains new regulations governing the regime of time-limits prior to general meetings, an important practical aspect. "Predatory shareholders harm stock corporations in Germany. When they file litigation to block the implementation of important resolutions they are not acting in the interests of the big, collective picture, but only to their own personal financial advantage. [...]Wed, 10 Jun 2009 15:04:41 +02000f585532b2b87bc9ff1a40bbb7705d53http://www.bmj.bund.de/enid/5aa2e1f8309fdfa51fa6811b37c9714c,0508396d6f6465092d09093a09636f6e5f6964092d0935393939/Press/Press_Releases_zg.htmlIn Brussels today the Competitiveness Council of the European Union dealt with the issue of "Google Books". Federal Minister of Justice Brigitte Zypries had put this subject on the agenda so as to heighten other Member States' awareness of the effects of Google Books and of the U.S. "Google Book Settlement" on the rights of European authors and publishers. The outcome of the Council debate was a Member States' request to the Commission to turn its attention to this issue. Federal Minister of Justice Brigitte Zypries said that "The approach taken by Google in the digitisation of books is not acceptable. It is not compatible with the principles of European copyright law. In Europe we obtain the author's consent before a work is digitised and made available in the Internet. I consider it to be a matter of urgent necessity for the Council to send out a clear political signal so as to prevent Google from making the works digitised in the USA publicly available in Europe without the consent of rightholders." [...]Thu, 04 Jun 2009 13:14:11 +020040dba65241ff18e79b099805ce52be78http://www.bmj.bund.de/enid/5aa2e1f8309fdfa51fa6811b37c9714c,2035c56d6f6465092d09093a09636f6e5f6964092d0935383339/Press/Press_Releases_zg.htmlToday the Federal Parliament passed the Act to Modernise Accounting Law (in German: "Bilanzrechtsmodernisierungsgesetz - BilMoG"). This legislation substantially eases financial strains in the economy and strengthens Commercial Code accounting law for competition with international accounting standards. Provisions that are central to the proven, inexpensive and straightforward accounting law of the Commercial Code will be retained. The annual financial statement drawn up under commercial law remains the basis for distributing profits and for calculating profits for tax purposes. In Berlin Federal Minister of Justice Brigitte Zypries said "Through BilMoG we are easing the strain on enterprises in Germany, especially small and medium-sized enterprises (SMEs), and by taking the necessary steps we are setting free forces of innovation and investment. One focal point of the reform consists in deregulation and cost reduction, particularly for SMEs. Financial relief running to the billion dimension will ensue from, [...]Tue, 28 Apr 2009 14:35:04 +0200721fbd98ed50fb87fd1cf32d44ff1295http://www.bmj.bund.de/enid/5aa2e1f8309fdfa51fa6811b37c9714c,97e83b6d6f6465092d09093a09636f6e5f6964092d0935363638/Press/Press_Releases_zg.htmlFederal Minister of Justice Brigitte Zypries today formed an "Alliance for German Law" with representatives of the legal professions. In a joint declaration, the Federal Chamber of Notaries (Bundesnotarkammer), Federal Chamber of Lawyers (Bundesrechtsanwaltskammer), German Association of Lawyers (Deutscher Anwaltverein), German Women Lawyers Association (Deutscher Juristinnenbund), German Notaries' Association (Deutscher Notarverein), German Association of Judges (Deutscher Richterbund) and the Federal Ministry of Justice agreed on improved and co-ordinated international legal co-operation. All players in this field are called on to participate in the alliance. "Law is the basis for a peaceful resolution of conflicts. It is a guarantor of freedom and democracy. In economic life, law also creates the security necessary for a prosperity that benefits everyone. Globalisation has also led to competition in international legal co-operation. Succeeding in this competition and spreading models of regulation that [...]Thu, 05 Feb 2009 16:34:54 +0100a0cc9ff25d36fcc32d1b70e8d01950dahttp://www.bmj.bund.de/enid/5aa2e1f8309fdfa51fa6811b37c9714c,b759b26d6f6465092d09093a09636f6e5f6964092d0935363133/Press/Press_Releases_zg.htmlOn Saturday, 1 November 2008, the Act to Modernise the Law Governing Private Limited Companies and to Combat Abuses entered into force (Gesetz zur Modernisierung des GmbH-Rechts und zur Bekämpfung von Missbräuchen - MoMiG). This concludes the most comprehensive reform of the law governing private limited companies since the Private Limited Companies Act (GmbH-Gesetz) first came into being. "The conclusion of this long-anticipated reform brings the law governing private limited companies into the 21st Century, and enhances the competitiveness of this company form - especially when measured against international standards. The private limited company is a modern, uncomplicated legal structure suited to small and medium-sized enterprises. In future, people starting up new businesses will also be able to take the newcomer's option of the limited liability entrepreneurial company, which is a possible alternative to the private limited company. However, not only has it become easier, faster and more affordable to [...]Tue, 16 Dec 2008 15:17:37 +01001fce11f579366ac807cf22c28fa91575http://www.bmj.bund.de/enid/5aa2e1f8309fdfa51fa6811b37c9714c,82ec096d6f6465092d09093a09636f6e5f6964092d0935333634/Press/Press_Releases_zg.htmlToday the Federal Cabinet adopted the Bill for an Act to Modernise Accounting Law ("Bilanzrechtsmodernisierungsgesetz - BilMoG"). This legislation ensures that the proven, inexpensive and straightforward accounting law of the Commercial Code will be retained in future and strengthened for competition with international accounting standards. The annual financial statement drawn up under commercial law remains the basis for distributing profits and for calculating profits for tax purposes. Federal Minister of Justice Brigitte Zypries said "Enterprises in Germany need modern and efficient accounting rules, as provided by the BilMoG. We are enhancing the qualitative validity of annual financial statements drawn up under commercial law and, by taking this step, we are also taking away the pressure to use international accounting standards, which particularly affects medium-sized enterprises in Germany. In the end result, the accounting law of the Commercial Code will continue to offer a fully adequate alternative [...]Mon, 29 Sep 2008 14:20:49 +02002a0b32d3d6413d3f0cc6b664cac9be6fhttp://www.bmj.bund.de/enid/5aa2e1f8309fdfa51fa6811b37c9714c,ceb20f6d6f6465092d09093a09636f6e5f6964092d0935323130/Press/Press_Releases_zg.html The federal cabinet today resolved the draft of a bill to amend the VW law. "There is good news for all employees: Decisions regarding the establishment or transfer of VW production facilities will continue to be made in Germany - and will continue to need the approval of the employee representatives on the supervisory board. This is a positive signal, both for Lower Saxony and for all of Germany as a place to do business.” We wish to maintain to the extent possible the VW law, which has proven effective, and will thus rescind only those provisions which were held in Luxembourg to contravene European law,” explained Brigitte Zypries, Federal Minister of Justice. In fall of last year, the European Court of Justice (ECJ) had determined that certain provisions of the VW law in effect violated European law. This decision must now be implemented into national law. The rules that were not part of the subject matter of the proceedings before the ECJ will not be changed. This [...]Fri, 06 Jun 2008 16:05:52 +0200d009cc180fec4b6e1f5ec955506b77eehttp://www.bmj.bund.de/enid/5aa2e1f8309fdfa51fa6811b37c9714c,0eeedf6d6f6465092d09093a09636f6e5f6964092d0935313136/Press/Press_Releases_zg.html Federal Minister of Justice Brigitte Zypries and her Chinese counterpart, the Head of the Legislative Affairs Office of the State Council of the People’s Republic of China, Minister Cao Kangtai, have agreed to continue the German-Chinese Rule of Law Dialogue. The two Ministers met for discussions at the eighth German-Chinese Rule of Law Symposium in Munich. The deliberations of roughly 70 high-ranking experts from both countries revolve around the possibilities of giving intellectual property effective protection. On the occasion of this Symposium the two Ministers signed an agreement setting out the details of bilateral co-operation for the next two years. "In future, too, we are setting our sights on the tried and tested Dialogue between our countries. The German-Chinese Rule of Law Dialogue has become an established dimension of the co-operation between our two states. It is now the fourth time since 2001, 2003 and 2005 that we have agreed on specific projects in [...]Wed, 23 Apr 2008 11:09:37 +0200854b6bd62f023edd412140d589d641f5http://www.bmj.bund.de/enid/5aa2e1f8309fdfa51fa6811b37c9714c,e3f24c6d6f6465092d09093a09636f6e5f6964092d0935303933/Press/Press_Releases_zg.html On 16 January 2008, Federal Minister of Justice Brigitte Zypries presented the key points of a reform of the VW law. "There is good news for all employees: Decisions regarding the establishment or transfer of VW production facilities will continue to be made in Germany, and will continue to need the approval of the employee representatives on the supervisory board. This is a positive signal, both for Lower Saxony and for all of Germany as a place to do business,” said Minister Zypries. Continued Minister Zypries, "We wish to maintain to the extent possible the VW law, which has proven effective, and will thus rescind only those provisions which were held in Luxembourg to contravene European law. We will now confer with our coalition partner regarding key aspects of the reform, and then make these the basis of a legislative initiative.” In fall of last year, the European Court of Justice (ECJ) had determined that certain provisions of the VW law in effect violated [...]Fri, 11 Apr 2008 09:40:25 +020074b59bfc3a010a6a652c5e2c6b05daeahttp://www.bmj.bund.de/enid/5aa2e1f8309fdfa51fa6811b37c9714c,47f1c06d6f6465092d09093a09636f6e5f6964092d0934363738/Press/Press_Releases_zg.html The Federal Cabinet today adopted the Government Bill for an Act to Modernise the Law Governing Private Limited Companies and to Combat Abuses (MoMiG). "The new PrLC law gives starters and investors the necessary legal framework for swift and uncomplicated practical implementation of their entrepreneurial ideas: the formation of PrLCs can be undertaken a lot more easily and quickly than previously. At the same time, this well-tried form of company, with its business success, will become fit for international competition: existing disadvantages will be ironed out, and the advantages will remain. There will be better protection of creditors in cases of crisis and of insolvency. The PrLC will become a modern legal structure trimmed to suit small and medium-sized businesses”, said Federal Minister of Justice Brigitte Zypries. If, as planned, the MoMiG comes into force during the first six months of 2008, it will be the most comprehensive reform since the PrLCA first came [...]Wed, 05 Sep 2007 17:23:25 +02000554dafa677c0e34e6b95eaf63b617a2http://www.bmj.bund.de/enid/5aa2e1f8309fdfa51fa6811b37c9714c,66da176d6f6465092d09093a09636f6e5f6964092d0934353735/Press/Press_Releases_zg.html The German Bundestag today adopted the reform of the law on insurance contracts. Said Federal Minister of Justice Brigitte Zypries, "The customers are the winners of this reform process. Insured parties with life insurance policies will receive an appropriate share of the surplus earned with their premiums. For the first time, insured parties will also receive a claim to participation in the hidden reserves. We have made substantial improvements regarding advice and information to be provided to customers when they enter into an insurance policy. In the future, they must be provided with the important documents and information in a timely manner before conclusion of the contract. And we are doing away with the "all or nothing” principle. This means that in the future, insured parties will receive partial insurance protection even if, for example, they cause the insured event due to gross negligence. These are true advantages for consumers.” The existing Insurance [...]Wed, 18 Jul 2007 13:46:25 +020063e84aa426b2bcff13759e8da7c4160ehttp://www.bmj.bund.de/enid/5aa2e1f8309fdfa51fa6811b37c9714c,32fd0d6d6f6465092d09093a09636f6e5f6964092d0934353635/Press/Press_Releases_zg.html The German Bundestag today passed the Second Act Governing Copyright in the Information Society. The Act constitutes the so-called "Second Basket” of copyright law reform. The draft bill must still be approved by the German Bundesrat. Building upon the first reform enacted in 2003, the Second Basket will further adapt German copyright law to the "digital age” and new technological developments. The Act establishes an appropriate balance between copyright holders’ interests in the safeguarding and exploitation of their intellectual property and the interests of the equipment industry, consumers and science in using the works of right holders. "The basic parameters of copyright law must be analysed regularly and adapted to technological changes. The balance between the rights of copyright holders and the public interest must be constantly fine-tuned. This Act is something we can be proud of. It provides an important contribution that will help Germany stay up to date in the [...]Thu, 12 Jul 2007 09:30:48 +02000a95e1db7922d71a946aa615d2bc9b66http://www.bmj.bund.de/enid/5aa2e1f8309fdfa51fa6811b37c9714c,6f0d406d6f6465092d09093a09636f6e5f6964092d0934353330/Press/Press_Releases_zg.html Germany’s Federal Minister of Justice Brigitte Zypries today appealed for a reform of the patent system to make it more practical and user-oriented at the start of a symposium on "The Future of European Patent Jurisdiction in Europe”, organised by the Federal Patent Court. Around 300 experts concerned with patent law in the judicial system, public authorities, industry, the academic world and government from Europe, Asia and the USA are attending this two-day international conference in Munich, the home of the Federal Patent Court. "What we are seeking is a European patent justice system that helps patent owners and their competitors obtain justice quickly, inexpensively and across borders,” said Zypries in her speech to open the symposium. The current litigation system is expensive and cumbersome if actions are launched in more than one country and can result in contradictory judgments concerning the existence or infringement of a patent, the Minister added. She also [...]Tue, 26 Jun 2007 09:06:59 +0200b5f59cfc86524478f6f06498719067c6http://www.bmj.bund.de/enid/5aa2e1f8309fdfa51fa6811b37c9714c,01369f6d6f6465092d09093a09636f6e5f6964092d0934353133/Press/Press_Releases_zg.html Overview A. Strengthening citizens’ rights Framework Decision on combating racism and xenophobia EU Agency for Fundamental Rights B. Increasing legal certainty for citizens and the business sector Rome II Regulation Maintenance Regulation Rome III Regulation Rome I Regulation Consumer Credit Directive Directive on shareholder voting rights C. Strengthening the justice system and practical cooperation Violent videos and games Framework Decision on the transfer of sentenced persons Work on e-justice A. Strengthening citizens’ rights 1. Framework Decision on combating racism and xenophobia The negotiations that had been underway at European level since 2001 were successfully concluded with a political agreement on this Framework Decision on 19 April 2007. In order to forcefully defend common European values, there will in future be binding minimum harmonisation throughout Europe of the provisions on criminal [...]Thu, 14 Jun 2007 14:12:07 +020031ba213c04bbeab5c7c4b8c42848b5adhttp://www.bmj.bund.de/enid/5aa2e1f8309fdfa51fa6811b37c9714c,bc03a26d6f6465092d09093a09636f6e5f6964092d0934353130/Press/Press_Releases_zg.html In future, there is going to be EU-wide networking of the criminal records of EU Member States. Today agreement was reached by EU Ministers of Justice at their meeting in Luxembourg on a Framework Decision to regulate the exchange of information extracted from criminal records. As Council President, Federal Minister of Justice Brigitte Zypries said that "For the first time, we now have EU-wide uniform rules on so-called exchange of information extracted from criminal records. Provision in criminal proceedings as well as in other proceedings before public authorities of information taken from national criminal records for other states is being improved and expedited through new rules assuming a specific form". The aim of this Framework Decision is to improve the exchange of information between national criminal records. There will be no new centralised European criminal records register set up for this purpose in future, the national criminal records will serve as the [...]Wed, 13 Jun 2007 14:48:33 +02008d83f80b82e1fefec55e33a1d6b6e8e1http://www.bmj.bund.de/enid/5aa2e1f8309fdfa51fa6811b37c9714c,42621b6d6f6465092d09093a09636f6e5f6964092d0934353038/Press/Press_Releases_zg.html In the future, conditions of probation imposed upon criminal offenders are to be subject to supervision throughout the EU. Under the leadership of German Federal Justice Minister Brigitte Zypries, the EU Justice Ministers today reached agreement on the major cornerstones of a Framework Decision in that regard. The goal of the initiative, put forward jointly by Germany and France, is to improve cooperation in the cross-border supervision of sentences of probation and alternative sanctions (for example, community service work, providing reparations for damage caused, or participation in social training courses). This will strive to foster the re-socialisation of convicted persons, prevent recidivism, and thereby attain better protection of victims. EU JHA Council President and German Justice Minister Brigitte Zypries said, "The German-French initiative serves to protect the victim and the public, but above all it serves to facilitate the offender’s social re-integration. [...]Wed, 13 Jun 2007 14:48:18 +0200ed2ec7febcc9b2a063bbc294c4c62b29http://www.bmj.bund.de/enid/5aa2e1f8309fdfa51fa6811b37c9714c,737af56d6f6465092d09093a09636f6e5f6964092d0934353039/Press/Press_Releases_zg.html In future, it will be easier to enforce cross-border claims up to EUR 2,000. Today the European Council of Ministers of Justice adopted the proposal for a Regulation creating a European Small Claims Procedure (the so-called Small Claims Regulation). "Legal redress in the European Union must not be allowed to stop at Member States’ borders because of bureaucratic hurdles or disproportionate costs. For this reason, court enforcement of cross-border claims must be further improved. No matter whether we are concerned with slight damage to the bodywork of a motor vehicle, sustained in an accident in the EU, or with rescinding a flawed transaction entered into during a shopper’s holiday - throughout Europe people should be able, just like businesses, to enforce their rights under the law. The Small Claims Regulation makes a simplified procedure available in cases of cross-border disputes for bringing civil claims up to the value of EUR 2,000 in an easy, inexpensive and effective [...]Wed, 13 Jun 2007 10:57:32 +02005db69b4365583a48fd3d3e2debd20322