Archive: September 29, 2014

ANUULING THE SANCTIONS BY COURTS, LEGAL AND ECONOMIC IMPACTS

September 29, 2014

Gist of the news
Presstv.ir reported on September 19, 2014 that:
A top European court has struck down restrictions imposed by the European Union against the Central Bank of Iran (CBI) on an alleged charge of circumventing US-led sanctions against the Islamic Republic.
In a judgment on Thursday, the Luxembourg-based EU‟s Court of Justice said it “annuls…the EU March 23, 2012 [ruling] concerning restrictive measures against Iran in so far as it listed Central Bank of Iran.”
“The reasons relied on are so vague and lacking in detail that the only possible response was in the form of a general denial,” the court ruled on Thursday, adding that “those reasons therefore do not comply with the requirements of the case-law.”
It said the charge leveled against the CBI is “insufficient in the sense that it does not enable either the applicant or the Court to understand the circumstances which led the [European] Council…to adopt the contested act.”
The Financial Times reported one day earlier that:

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Iran Joining the Berne Convention

September 22, 2014

Gist of the news
Tehrantimes.com reported more than two years ago on April 3, 2012 that:
A bill to join the Universal Copyright Convention has recently been completed by Iranian Ministry of Culture and Islamic Guidance, an official of the ministry said on Tuesday. The bill has been submitted for discussion in the cabinet, the ministry’s Legal Department Director Ahmad-Ali Mohsenzadeh told the Persian service of the Iranian Students News Agency.
Almost two years later on April 15, 2014, the website of yjc.ir reported that according to Hasan Noushabadi, the Deputy Minister of Culture in Legal and Parliamentary Affairs:
“…Iran is preparing a bill to join the Bern convention as well as the Rome Convention for the Protection of Performers, Producers of Phonograms and Broadcasting Organizations.”

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Legal Ramification of Article 968 of the Civil Code of Iran

September 7, 2014

Executive summary
The interpretations of article 968 of the Civil Code of Iran (CCI) can be subdivided into two groups. Under the first one that is supported by few lawyers, article 968 is a mandatory provision of the CCI. This means that all obligations arising out of contracts are subject to lex loci contractus, wherever they are concluded. The only exception to this rule is where both of the parties are foreign citizens who have explicitly or implicitly declared that their contract shall be subject to a law other than lex loci contractus. The second interpretation is a more liberal and more popular one. Under this interpretation, article 968 is a facultative provision of the CCI authorizing the Iranian as well as the foreign citizens to subject their contracts to any law that they deem appropriate.

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