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Why are investment companies are regulated so differently from every other kind of company? The multitude of other companies across our diverse spectrum of business endeavors—from software design to clothing retail to food service, and so forth—are regulated by a generic body of securities regulations. What exactly makes an investment company so different from every other kind of company that it alone deserves special securities regulation? The chapter concludes that, whatever the historical rationales for investment company regulation, the most compelling rationale for investment company regulation today is an investment company’s unique organizational structure. An investment fund almost always has a separate legal existence and a separate set of owners from the managers who control it. A fund investor thus relates to her managers in a radically different way from an investor in every other kind of company.
Marcelo G. Kohen and Mamadou Hébié
This chapter introduces the international law framework applicable to territorial disputes and provides an overview of the entire content of the book. Starting with a definition of the terms that delimit the field of the present inquiry, Marcelo G. Kohen and Mamadou Hébié explore important cornerstones of the law applicable to territorial disputes. Thus, the authors proposes a method for analysing territorial disputes, before addressing the impact of the fundamental principles of international law on the settlement of territorial disputes. Among these principles, the authors assess the relevance of the principle of territorial integrity, of the right of peoples to self-determination and of the prohibition of the use of force. Finally, the authors explore the legal significance of technical rules of international law, such as the intertemporal law principle, the critical date and the rules governing evidence, in the assessment of territorial claims.
John A.P. Chandler
John A.P. Chandler
S Jayakumar, Tommy Koh, Robert Beckman, Tara Davenport and Hao Duy Phan
On 22 January 2013, the Philippines initiated compulsory arbitration against China under Annex VII of the 1982 United Nations Convention on the Law of the Sea (UNCLOS) with regard to their disputes in the South China Sea. The Award on Jurisdiction and Admissibility issued on 29 October 2015 and the Final Award issued on 12 July 2016 have been the most anticipated decisions from an international tribunal in the law of the sea, since the entry into force of UNCLOS in 1994. This introductory chapter provides an overview of UNCLOS dispute settlement mechanisms, the background to the South China Sea disputes and the key legal issues in the South China Sea Arbitration necessary to understand the legal implications of the Awards.