Global updates – a quick glance
Australia: Payroll tax threshold increased from AUD 900,000 to AUD 1 million for New South Wales with effect from July 01, 2020.
China: China has issued new Personal Information (PI) Security Specification to protect personal data which will apply with effect from October 1, 2020.
India: India offers a one-time amnesty for non-compliance under the Companies Act.
Italy: Paid Paternity leave increased from 5 days to 7 days with effect from January 1, 2020.
|India||COVID India UpdateThe deadline has been extended for certain Board meeting matters to be handled through video conferencing or other audio-visual means until September 30, 2020In India, it is compulsory to hold four board meetings a year, with at least one meeting every quarter. Some of the items that need Board approval that normally needs to be passed in a physical meeting include:The approval of the annual financial statements;The approval of the Board’s report;The approval of the prospectus;the Audit Committee meetings for consideration of financial statement including consolidated financial statement, if any, to be approved by the Board under Section 134(3); Approval of any matter relating to amalgamation, merger, demerger, acquisition and takeover.Given the COVID situation and restrictions on physical movements in India, the government has issued a notification dated June 23, 2020. The notification extends the deadline for permitting the above Board meeting/ Audit Committee meetings from June 30, 2020 to September 30, 2020 and allows it to be done through video conferencing or other audio-visual means.|
|Netherlands||The Dutch Data Protection Authority has penalized a company with a fine of EUR 725,000 for violations of Article 9 (1) of the EU General Data Protection Regulation (“GDPR”) for processing biometric data of its employees without their explicit consent.|
|Spain||The Spanish Data Protection Authority fined Activos Balagares, a fine of EUR 15,000 for violation of Article 5(1)(f) of the General Data Protection Regulation.|
|Sweden||The Swedish data protection authority (“Datainspektionen”) has fined Google LLC for EUR 7 million for violation of GDPR regulations with respect to “right to request delisting”|
|The Swedish data protection authority (“Datainspektionen”) has fined the National Government Service Centre for SEK 200,000 (Approx. EUR 18,700) for failure to notify about a personal data breach to the Data Protection Authority as well as affected parties in due time.|
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