Corporate Social Responsibility: EU BUSINESS REGULATIONS IN UK

Corporate Social Responsibility: EU BUSINESS REGULATIONS IN UK: EU BUSINESS REGULATIONS IN UK It is certainly not business as usual since British electorates opted to leave EU, now known as Brexit....

EU BUSINESS REGULATIONS IN UK

EU BUSINESS REGULATIONS IN UK

It is certainly not business as usual since British electorates opted to leave EU, now known as Brexit.  Coming together in the first place was a product of a huge legal labyrinths.  Disentangling the structure means another elaborate legal  challenges especially to the international business community, as well as the common understanding of the legal environment by citizens.

Members of EU have uniform commercial code which are like templates for international business transactions across member nations.  Of course with Brexit the equation has been altered.  Some business deals that were concluded before the commencement of Brexit are clearly out of the purview of this discourse, except to watch out how UK laws would affect the status quo.  However, for many of such negotiations that were not concluded before Brexit they remain ‘unfinished business’.

A bill in the making at the UK parliament shall, when passed into law, repeal  such laws that subjugated UK extant business laws to the EU uniform commercial code. It would provide also the power to retain such laws that are beneficial to UK business environment and overall interest.  To this end, any enforcement process against UK companies and businesses regarding compliance of EU laws would fail unless it coincides with UK laws.

Although UK has not completed the processes of exit and so not clear as to the contents of the package, it is feared  that Britons living in EU nations stand to lose their rights accruing to other EU citizens.  Also feared not to be available to UK citizens is the right of appeal from UK to EU Court of Justice that has been the vanguard of EU citizens human rights.

There is no doubt that EU has demonstrated global leadership in the protection of fundamental human right, insisting also that it should be the world’s parameter. Through its surveillance it warns nations derailing from the parameter to refrain from excesses. Recently such reprimand went to Polish government whose proposed judicial reforms would allow parliament and justice minister to appoint judges.  Although Poland finds a strong ally in Hungary which has shown solidarity towards the reforms against possible EU criticisms and sanctions, similar situation is about to occur in Zimbabwe without a hoot from Africa Union.

Meanwhile UK business negotiations should be undertaken with the hindsight of Brexit.  Except pending transactions aka ‘unfinished businesses’ sanctions and remedies are now based on UK laws.  The intricacies and details shall engage the attention of subsequent comments. 

Iyke Ozemena

Attorney

IKECHUKWU O. ODOEMELAM & CO                                                                                                         Corporate Attorneys/Consultants

amazon.com/iyke ozemena books

http://www.amazon.com/dp/B0075RXXLE    COMPANY SECRETARIES HANDBOOK

http://www.amazon.com/dp/B005783S6S      DIRECTORS
http://www.amazon.com/dp/B005MKCESY    MEETINGS: Dynamics and Legality

Corporate Social Responsibility: EUROPE'S OPTIMISTIC UNION

Corporate Social Responsibility: EUROPE'S OPTIMISTIC UNION: EUROPE'S OPTIMISTIC UNION Inspite of all challenges Europe seem optimistic about the unity of its community. Of course it has been...

EUROPE'S OPTIMISTIC UNION

Inspite of all challenges Europe seem optimistic about the unity of its community. Of course it has been looking optimistic because of numerous economic and human right advantages that led to its formation until recently when British electorates voted in a referendum to exit from the union.

Brexit has since then generated a lot of heat within and without the community, not only about the re-appraisal of its existence but also the process of exit and detailed implications of member exit. Meanwhile the outcome of French elections, the result of crucial and far-reaching referendum in Turkey as well as the imminent G20 summit in Hamburg, Germany have collectively posed some challenges to the stability of the union.

Prime Minister Theresa May called an early election in order to consolidate and garner more support for Brexit endeavors. However, June 8, 2017 election produced a lean harvest. Even in the face of a hung parliament courage and patriotism became the stabilizing factor in Britain on the verge of exit from EU.

French presidential election produced a young President that holds the union to his chest, giving a plus to the union during his tenure. To consolidate this position the parliamentary election produced more female candidates than expected. This unexpected feat apparently favors pro-Euro politicians.

After the attempted coup in Turkey in 2016 President Erdogan proposed a number of constitution amendments which significance was to enhance his powers to deal with the various malaise. He won 51.4% support of the electorates. This electoral victory is not popular in Europe because of excessive executive powers without mechanisms to check those powers. This means that transparency and accountability to EU’s standard may be missing; phenomena which the union frowns at.

If you consider the fact that most G20 countries come from Europe and a fortiori on the same page with EU policies, the protests against its policies by human right activists, labor and religious groups, one reckons the summit may not be a plus for EU. The summit is expected to condemn protectionism which is inimical to global interests, because of its effect on innovation and competition.

On a rather sad end Helmut Kohl ex-German Chancellor that passed on recently was known for his efforts towards unification of Germany and Europe; and so nicknamed a “great European” “essence of Europe” etc. even at death. The tributes at his funeral provided doses of optimism at a time the community needs it.

Iyke Ozemena

Attorney

IKECHUKWU O. ODOEMELAM & CO

Corporate Attorneys/Consultants

amazon.com/iyke ozemena books
http://www.amazon.com/dp/B0075RXXLE    COMPANY SECRETARIES HANDBOOK
http://www.amazon.com/dp/B005783S6S      DIRECTORS
http://www.amazon.com/dp/B005MKCESY    MEETINGS: Dynamics and Legality