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New PDF release: ACCA - F4 Corporate and Business Law (GLO): Study Text

By BPP Learning Media

ISBN-10: 0751763667

ISBN-13: 9780751763669

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Extra resources for ACCA - F4 Corporate and Business Law (GLO): Study Text

Example text

For example, when the WTO was set up and GATT was extended to intellectual property, services, dispute settlement and other areas. The WTO Agreements contain the principles of liberalisation of free trade. They include commitments by each country to lower customs tariffs and other trade barriers, and to open and keep open services markets. They also set procedures for settling disputes. The current set of agreements is the outcome of the 1986-94 Uruguay Round GATT negotiations which set up a non-discriminatory trading system that spells out each country's rights and obligations.

X UN Convention on International Bills of Exchange and International Promissory Notes. This Convention provides a comprehensive code of legal rules governing international instruments for use in international commercial transactions. We shall see this in Chapter 6 of this Text. x UNCITRAL Model Law on International Commercial Arbitration. These provisions are designed to assist States in reforming and modernising their laws on arbitral procedure so as to take into account the particular features and needs of international commercial arbitration.

It also provides technical assistance for developing countries, to analyse world trade, to explain WTO affairs to the public and media and provide some form of legal assistance in the dispute settlement process. (b) The Ministerial Conference is the WTO's top level decision-making body, meeting at least once every two years. (c) The General Council meets several times a year in Geneva, sometimes as the Trade Policy Review Body and the Dispute Settlement Body. 2: International trade and regulation ~ Part A Essential elements of legal systems (d) Special councils such as the Goods Council, Services Council and Intellectual Property (TRIPS) Council report to the General Council.

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ACCA - F4 Corporate and Business Law (GLO): Study Text by BPP Learning Media

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