The Gazette 1974

INTERNATIONAL BAR ASSOCIATION SECTION ON BUSINESS LAW, LONDON CONFERENCE, NOVEMBER 7 AND 8, 1973 In 1970 the International Bar Association formed its first Section to cater for those of its members concerned with international business problems. It now has over 1,400 members from all over the world, publishes its own Journal and a Directory of its members. The first meeting of the Section took p ace in Monte Carlo in 1972 and its second Conference in London on Novem- ber 7 and 8. Over 200 Section members attended to- gether with approximately 100 guests all of whom were free to participate in the following Committee dis- cussions : Admiralty and Maritime Law (Chairman : Lennart

the second Creditors' Rights and Insolvency Laws. Members also reported on, amongst other matters, changes in Creditors' Rights in their own countries. Public Utilities (Chairman : Philip Turner, England) which gave preliminary consideration to the relationship between governments and public utilities, fixing and regulating consumer rates, the influence of private capital on public utilities not publicly financed, the law;, rules and regulations dealing with the use of fossil fuel and nuclear energy in generating electric current and whether, and to what extent, petroleum resources should be brought into the public utilities field and publicly owned. Mr. Yukinobu Ozaki also presented a paper on Governmental Regulation over 1 electricity and city gas supplies in Japan. Patent, Trademark and Copyright (Chairman : Gor- don Henderson, Canada) whose agenda included the proposed Trademark Registration Treaty and the effect of the Vienna amendments to the proposed Treaty, the Patent Co-operation Treaty and Erosion of In- dustrial Property Rights. Sales of Goods (Chairman : Antonio Maria Pereira, Portugal) which considered a draft document setting out basic principles relating to General Terms and Conditions applicable to International Sales Contracts. Taxes (Chairman : Jean-Claude Goldsmith, France) which considered national reports on "Tax Treatment of investments in developing countries". Mr. R. Lend ' reviewed the progress made since 1965 with regard to the negotiation of multinational conventions with developing countries and the question of "Branch against Subsidiary" was also discussed. Petroleum and Mineral Resources (Chairman : Laszlo Gombos, England). This Committee invited to address them Roy Thomas Pleasance, F.C.A., Manager, Tax Administration of British Petroleum Co. Ltd. and Chairman of the U.K. Oil Taxation Committee on ' "The Taxation of Oil and Gas Production on the U.K. Continental Shelf and the Mainland (including Terri- torial Waters); F. L. Faust, Manager, Tax Administra- tion, Gulf Oil, London on "Taxation of Oil and Gas Production in the U.S.A. with special reference to the Depletion Allowance and Foreign Tax Credits" and Eli Lauterpacht, Q.C., Fellow of Trinity College, and Lecturer in Law at the University of Cambridge on "Co-operation between oil producing and oil con- suming countries". Issue and Trading in Securities (Chairman : John Gauntlett, England). This Committee has established five sub-committees on Accounting Practices, Acquisi- tions and Mergers, Extraterritorial Application of Securities Laws, Rights of Minority Shareholders and Stock Exchanges and all met during the Conference. In the afternoon, Mr. Peter Lee, Secretary of the Panel on Takeovers and Mergers in London, spoke on "The City Code on Takeovers and Mergers". International Construction Contracts (Chairman Jean B. Vadon, France) which discussed its work pro- gramme and agreed to study the following topics : (1) Damages, Limitation of liability and penalties. (2) Force Majeure and acts of events beyond control. (3) Performance guarantees. (4) Monetary Clauses and price revision. (5) Applicable Law and settlement of Disputes. 38

Hagbe.rg, Sweden) where the principal matters con- sidered were the results of two questionnaires sent out to Committee members dealing with Arrest of Vessels and Enforced Sales of Vessels, co-operation with the Comité Maritime International and the United Nations bodies concerned with shipping law. Aeronautical Law (Chairman : Dean Booth, U.S.A.) which sponsored a two-day seminar on Multinational Joint Ventures in New Aircraft Development from the viewpoints of the airlines, manufacturers, lenders and insurers. Over 100 lawyers were present at the seminar. Antitrust Law and Monopolies (Chairman : Arved Deringer, Germany) which discussed reports on recent developments in the E.E.C. countries and the extra- territorial application of antitrust laws. Procedures for Settling Disputes (Chairman : Jean Robert, France) which enquired into the enforcement of foreign judgments, the serving of writs abroad and ways of improving arbitration procedure. Commercial Banking (Chairman: Bela Szathmary, U.S.A.) which considered problems related to Inter- national Loan Agreements. Four international lawyers, Dr. Klaus Bólhoff, Dr. Pedro de Elizalde, James B. Hurlock and Adrian Smart presented papers on this subject and answered questions from the members. It was decided that the Committee should now consider the subjects of Bank affiliates abroad—restrictions from at home and from the host Governments; liberalizing the road towards an integrated international money market and new types of "negotiable" instruments on the international money market. Environmental Law (Chairman : Keith Imlah, Eng- land) which discussed the relations of this Committee with other bodies, particularly the United Nations, concerned with the protection of the environment. The future work programme and structure of the Com- mittee was also considered and it was agreed that the subjects of oil pollution by ships and by-production from the seabed should be given priority. Business Organisations (Chairman : John T. Subak, U.S.A.) which discussed the role of a Director, Multi- National Corporations and the European Company. Insurance (Chairman: F. Baron van der Feltz, Netherlands). This Committee discussed a paper pre- pared by Mr. F. Salomonson, Netherlands, on impor- tant developments in Common Market Insurance Law. Creditors' Rights, Insolvencies and Reorganisations (Chairman : Joachim Kilger, Germany). This Com- mittee arranged a two day meeting. On the first day it considered the draft European Bankruptcy Convention under the Chairmanship of Muir Hunter, Q.C., and on