Analysis Of The High Court Decision In The Case Of Ham Enterprises Ltd & Anor V. Diamond Trust Bank (k) Ltd & Anor: Conflict Of Laws And The Ralli Principle Of Foreign Illegality
Kabazzi Maurice Lwanga
This comment explores the missed opportunity by the High Court decision in the case of Ham Enterprises & Anor V. Diamond Trust Bank (K) Ltd & Anor to raise the issue of conflict of laws. Particularly, focus is placed on the opportunity to determine the proper law governing the loan contract between a Ugandan company and a foreign bank, which contract had a ‘foreign element.’ The author also discusses the Ralli principle of foreign illegality, with a view of undoing the legacy of rigidly applying national (local) law to transactions with ‘a foreign element.’ This comment is a response to the High Court decision in Ham Enterprises case to start the discourse on Ugandan courts’ application of private international law.
The Justiciability Of The Argument For The Recognition Of Freedom To Transact At The Emergence Of Blockchain Technologies In Uganda And World Wide
George Okitoi
The paper discusses the need for recognition for freedom to transact due to the emergence of block chain technologies. It looks at the existing legal framework on block chain and the fact that it has the potential to revolutionize a wide range of industries by enabling secure, transparent and efficient record-keeping and communication. As a result, many countries have recognized the importance of blockchain and have begun to legislate and regulate various aspects of its use. He asserts that freedom to transact is justiciable to the extent that individuals can seek legal remedies if their freedom to transact is violated or infringed upon. The author argues for a need to develop specific legislation on block chain technologies as well as the adoption of guidelines to ensure that these technologies are used in a way that respects the freedom to transact and promotes human rights.
Cryptocurrency As A Security Asset: Analyzing The Roles Of Various Stakeholders In The Adoption Of Virtual Assets Under The Capital Markets Authority (amendment) Bill, 2023
Aggrey Bazirake
The Fourth Industrial Revolution has ushered in blockchain and virtual assets develop and significantly impact social, economic, and political spheres, including Uganda’s financial ecosystem. However, Uganda Securities Exchange has yet to adopt these technologies. Hon. Nathan Igeme’s Capital Markets Authority (Amendment) Bill 2022 seeks to amend the Capital Markets Authority Act to regulate virtual assets like cryptocurrencies and licensed operators, rather than just products and activities. This article explores the potential consequences of this regulatory development and the measures that need to be taken to seamlessly integrate it into Uganda’s securities framework and stock exchange. It examines the roles of various stakeholders and identifies vulnerabilities that could compromise the system’s efficacy.
Cryptocurrency As A Security Asset: Analyzing The Roles Of Various Stakeholders In The Adoption Of Virtual Assets Under The Capital Markets Authority (amendment) Bill, 2023
Aggrey Bazirake
The Fourth Industrial Revolution has ushered in blockchain and virtual assets develop and significantly impact social, economic, and political spheres, including Uganda’s financial ecosystem. However, Uganda Securities Exchange has yet to adopt these technologies. Hon. Nathan Igeme’s Capital Markets Authority (Amendment) Bill 2022 seeks to amend the Capital Markets Authority Act to regulate virtual assets like cryptocurrencies and licensed operators, rather than just products and activities. This article explores the potential consequences of this regulatory development and the measures that need to be taken to seamlessly integrate it into Uganda’s securities framework and stock exchange. It examines the roles of various stakeholders and identifies vulnerabilities that could compromise the system’s efficacy.