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i

CRYPTOCURRENCIES IN PUBLIC AND PRIVATE LAW

ii

iii

CRYPTOCURRENCIES IN PUBLIC AND PRIVATE LAW Edited by David Fox

Sarah Green Contributors Daniel Carr Andrew Dickinson Anne Fairpo Benjamin Geva Dorit Geva Christopher Hare Kelvin FK Low Charles Proctor Wu Ying-​C hieh Corinne Zellweger-​G utknecht

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iv

1 Great Clarendon Street, Oxford, OX2 6DP, United Kingdom Oxford University Press is a department of the University of Oxford.

It furthers the University’s objective of excellence in research, scholarship, and education by publishing worldwide. Oxford is a registered trade mark of Oxford University Press in the UK and in certain other countries © The Contributors 2019 The moral rights of the authors have been asserted First Edition published in 2019 Impression: 1 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, without the prior permission in writing of Oxford University Press, or as expressly permitted by law, by licence or under terms agreed with the appropriate reprographics rights organization. Enquiries concerning reproduction outside the scope of the above should be sent to the Rights Department, Oxford University Press, at the address above You must not circulate this work in any other form and you must impose this same condition on any acquirer Crown copyright material is reproduced under Class Licence Number C01P0000148 with the permission of OPSI and the Queen’s Printer for Scotland Published in the United States of America by Oxford University Press 198 Madison Avenue, New York, NY 10016, United States of America British Library Cataloguing in Publication Data Data available Library of Congress Control Number: 2018957217 ISBN 978–​0–​19–​882638–​5 Printed and bound by CPI Group (UK) Ltd, Croydon, CR0 4YY Links to third party websites are provided by Oxford in good faith and for information only. Oxford disclaims any responsibility for the materials contained in any third party website referenced in this work.

v

FOREWORD

Money has been with us for a long time.1 However it was only in 1938 that the first full-​scale English law analysis of ‘money’ was published with FA Mann’s magisterial work The Legal Aspects of Money.2 Cryptocurrencies burst onto the public consciousness as late as 2009 when the programmer(s)3 Satoshi Nakamoto launched the technology that enabled the public to trade in ‘Bitcoins’, which remains the best known of the many thousands of alternative cryptocurrencies that are traded today. Happily we have not had to wait nearly so long to have a detailed guide to the legal aspects of cryptocurrencies with the publication of the present volume.

What are cryptocurrencies? My working description is that they are digital or virtual assets that use high-​level cryptography through a decentralized system for trading purposes and to keep those assets secure. Cryptocurrencies are not organized by any nation State and they are largely outside state control for the present.

They represent a revolutionary new way to create and guard an ‘asset’ and to make payments for other assets. The advocates of cryptocurrencies argue that they have emerged as a result of a growing distrust or cynicism in so-​called ‘trusted third party’ financial institutions, following the apparent inability of banks and even States worldwide to master the financial crisis of 2008. Financial institutions, thought to be sound and trustworthy, failed, or were only saved at a huge cost to tax payers. Many individuals lost personal assets during or after the crisis.

Since then ‘centralized’ and so-​called ‘trusted’ third parties, whether banks, credit agencies, or social media networks or companies, have had millions of peoples’ personal data stolen from them by internet hackers. The use of cryptocurrencies, cutting out ‘the middleman’ and using high-​standard cryptography for security, is a reaction to all these events. They enable people to transfer assets directly between two people without any need for a ‘trusted’ third party like a bank. It is even argued that cryptocurrency technology enables those who have no access to banks of similar institutions to have financial freedom, so that cryptocurrencies enable everyone to ‘take back control’ of their money or assets.

1 ‘A feast is made for laughter and wine maketh merry: but money answereth all things.’: Ecclesiastes, 10:19.

2 7th edition published in 2012. It is now edited by Dr Charles Proctor, one of the contributors to the present volume.

3 It is not known whether the ‘programmer’ was one person or a group of people.

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Foreword It is estimated that the total value of all cryptocurrencies in the world today is in the region of US$350 billion, although this figure fluctuates rapidly. The daily sale and purchase of cryptocurrencies is about US$17 billion. They seem likely to be an increasingly important part of the worldwide financial scene, despite attempts by several States, including China, to ban or restrict their use.

The huge growth in the use of cryptocurrencies requires lawyers to tackle the issues of how they fit into legal frameworks. Although there have been a large number of articles and reports about different legal issues thrown up by cryptocurrencies, this is the first volume that makes a national, international, and comparative law study of the many difficult legal challenges that cyrptocurrencies present. The most basic question for any system of law which encounters a cryptocurrency, whether it be municipal or international, or private or public law, is how a cryptocurrency to be characterized. Is it to be treated, for legal analysis, as being equivalent to ‘money’, or is it an ‘asset’, or what English law calls a ‘chose (or thing) in action’ or some other form of property? Depending on the answer to that question, issues about the nature of ownership, possession, and other possible legal (or equitable) rights in cryptocurrencies can then be analysed. Given that cryptocurrencies are virtual and that anyone anywhere in the world who has access to the necessary cryptographic keys and a computer can trade in them, it is obvious that cross-​border legal issues such as how to decide which courts have jurisdiction in any dispute and which is the applicable law will be of fundamental importance. Although the originators of cryptocurrencies and many of its users would like to imagine that they are outside national and international regulatory control and the criminal law, that cannot be so. So the way the regulatory and criminal law deals with them also needs attention. So do issues of whether or how cryptocurrencies and trading in them or with them might be taxed. On a more philosophical and sociological level it is also pertinent to enquire into whether, if cryptocurrencies are not state-​ backed currencies or assets, they fulfil some kind of ‘community currency’ role and if so, what are the legal consequences of that?

The meteoric rise in the use of cryptocurrencies necessitates that all these difficult legal and sociological questions be urgently examined. This book does so. It is not confined to English law, nor even European legal systems, but considers the problems from the viewpoint of Asian law systems as well. The distinguished authors, all specialists in the topics they address in each of the ten substantive chapters, explain the problems and suggest solutions in a clear and concise way. For any lawyer, like me, who is having to grapple with the legal aspects of cryptocurrencies for the first time, this book is a godsend. And for those who are not tyros, the deep and careful analyses that are given in each chapter will provide answers to problems or leads to further study.

This book is very timely and I warmly welcome it.

Richard Aikens vi

vi

ACKNOWLEDGEMENTS

The editors would like to express their thanks to Travers Smith Braithwaite for funding, and to St Hilda’s College, Oxford, for facilitating the workshop in July 2017, at which most of the papers published as chapters in this volume were presented and discussed. Thanks are also due to the University of Oxford Law Faculty and to Christopher Hare for their assistance with administering these funds. In addition, Serena Crawshay-​Williams provided sterling help with editing the manuscript before it was sent to the publisher. Finally, David and Sarah are both immensely grateful to Sir Richard Aikens for taking the time to write the foreword to this volume.

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ix

CONTENTS

Table of Cases Table of Legislation Notes on Contributors

xvii xxv xxxiii

1. Cryptocurrencies: The Underlying Technology I. Introduction

1.01

II. Decentralization and Distributed Consensus

1.02

III. The Chapter Contributions to this Book

1.11

2. It’s Virtually Money I. Introduction

A. What are virtual currencies and why do they present such challenges to existing categories?

B. Universal medium of exchange C. Unit of account D. Store of value E. A peculiarly private law concept of ‘money’ F. Consequences of a failure to recognize virtual currency as money 1. Barter rather than sale 2. Applicability of the bona fide purchaser for value defence

II. Conclusion

2.01 2.03 2.15 2.19 2.20 2.22 2.26 2.26 2.44 2.48

3. Cryptocurrencies in International and Public Law Conceptions of Money I. Introduction

3.01

II. Theories of Money

3.05

III. Nature of Cryptocurrencies

3.09

IV. International Law

3.16

V. Public Law

3.24

VI. Criminal Law

3.27 3.28 3.32 3.34

A. Theft and fraud B. Cryptocurrencies and money laundering C. Financial markets legislation

ix

x

Contents VII. The Central Bank

3.44 3.46 3.55

VIII. Conclusions

3.58

A. Financial stability B. Monetary policy

4. Developing the Right Regulatory Regime for Cryptocurrencies and other Value Data I. Introduction

4.01 4.01 4.04 4.05

A. Scope B. Thesis C. Structure

II. Asset and Manifestation: Substance and Form of Monetary Value over the Course of Time A. Banknotes 1. Redeemable banknotes 2. Irredeemable banknotes B. Central bank reserve balances 1. Initially: claims to payment of legal tender 2. Later: legal tender in the form of non-​convertible sight deposits (fiat money) C. Interim conclusion

III. Modes of Creation of Money and Their Effects on the Substance of an Asset

A. Temporary money: created on a temporary basis B. Outright money: created with no connected reversal event C. Helicopter money

IV. Types of Manifestation and Their Effects on Legal Title, Transfer, and Protection of Commercial Dealings

A. Manifestation by possession B. Manifestation by oral or written but uncertificated consent C. Manifestation by certificated security D. Manifestation by money E. Manifestation by intermediated security F. Manifestation by entry in a register kept by a trusted party

V. Conclusion: Manifestation of Value Data by Entry in a Register Kept by a Trusted Technology A. Value data: the rivalrous and excludable B. Book entries secured by elliptic cryptography C. Legal consequences and recent legislative developments 1. Static dimension: legal title 2. Dynamic dimension: mode of transfer D. Closing remark

x

4.06 4.06 4.06 4.12 4.20 4.22 4.27 4.35 4.47 4.48 4.51 4.56 4.60 4.63 4.64 4.65 4.66 4.71 4.76 4.80 4.80 4.83 4.87 4.87 4.94 4.100

xi

Contents 5. Cryptocurrencies and the Conflict of Laws I. Introduction

A. Virtual currencies and cryptocurrencies in outline B. The conflict of laws in outline C. Regulatory challenges for the conflict of laws

II. The Law Applicable to the Relationships between Participants within a Cryptocurrency System A. Introduction B. Key features of the Bitcoin and Ripple cryptocurrency systems 1. Bitcoin 2. Ripple C. Conflict of laws characterization of the relationships between participants in cryptocurrency systems D. The law applicable to relationships between participants in cryptocurrency systems 1. Choice of the applicable law (Article 3) a) The Rome I Regulation: choice of national law b) Possible future alternatives to choice of national law 2. Law applicable in the absence of choice (Article 4) a) Temporal application of the Rome I Regulation b) Particular categories of contract (Article 4(1)) and characteristic performance (Article 4(2)) c) The closest connection test (Article 4(4)) d) Does a tenuous connection to the country of closest connection suffice?

3. Other issues E. Reflection

5.01 5.01 5.04 5.07 5.15 5.15 5.18 5.18 5.23 5.27 5.35 5.36 5.36 5.39 5.44 5.45 5.49 5.62 5.65 5.68 5.72

III. Cryptocurrencies as ‘Money’ in the Conflict of Laws

5.73 5.73 5.81 5.89

IV. Cryptocurrencies as ‘Property’ in the Conflict of Laws

5.93 5.93 5.96

A. Cryptocurrencies and the ‘lex monetae’ B. Illegality of transactions involving cryptocurrencies C. Judgments in a cryptocurrency

A. Introduction B. The proprietary character of cryptocurrencies C. The law applicable to assignments of claims under the Rome I Regulation D. Beyond legal rights: the law applicable outside the Rome I Regulation

V. Conclusions

5.103 5.106 5.121

6. Cryptocurrencies in the Common Law of Property I. Introduction

6.01 6.08

A. Approach and terminology

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Contents II. A Crypto-​Coin as an Object of Property

6.11 6.12 6.20 6.20 6.21 6.25 6.26 6.28 6.28 6.32 6.38

III. Rules of Title and Transfer

6.45 6.45 6.48 6.48 6.49 6.50 6.53 6.57

IV. Mixture, Following, and Tracing

6.67 6.67 6.69 6.74 6.75 6.76 6.78 6.79

A. Data strings recording transactions B. Fungibility, specificity, scarcity, and exclusion 1. Fungibility as an aim of cryptocurrency design 2. Fungibility and specificity in property law 3. Cryptocurrencies as either fungible or specific in law 4. Scarcity and exclusivity C. Crypto-​coins in the law of personal property 1. Choses in possession and choses in action 2. Intangible personal property other than choses in action 3. The current authorities A. General B. Derivative transfers of title 1. General 2. Legal title and the blockchain record 3. The blockchain record as presumptive evidence of title 4. Derivative transfers of title and tracing 5. Purchase for value in good faith A. Mixtures of cryptocurrencies 1. Mixing in practice B. Tracing and cryptocurrencies 1. Cryptocurrencies are traced not followed 2. The blockchain and traceability 3. Pseudonymity and tracing C. Attribution in cryptocurrency transactions 1. Attribution by the blockchain record or by an external transaction D. Tracing through mixtures 1. Balances and transactional outputs E. Cryptographic and legal rules for tracing through mixtures 1. The poison approach: a punitive causation rule 2. The haircut approach: proportionate division 3. The first-​in-​first-​out approach: Clayton’s Case 4. Variations from Clayton’s Case F. Notice in cryptocurrency payments

6.79 6.81 6.81 6.83 6.84 6.86 6.88 6.93 6.97

V. Remedies

6.101 6.102 6.105

VI. Conclusion

6.107

A. Common law remedies B. Equitable remedies

7. Cryptocurrencies as Property in Civilian and Mixed Legal Systems I. Introduction

7.01

xii

xi

Contents II. Cryptocurrencies as Res

7.05 7.06 7.09 7.15 7.16 7.18 7.21

III. Implications of Recognizing Cryptocurrencies as Res

7.23 7.24 7.26 7.26 7.29 7.31 7.32 7.34

IV. Conclusion

7.36

A. What is a unit of cryptocurrency?

B. Fixed lists or numerus clausus C. Possession?

D. Specificity E. Publicity F. Analogical addendum A. ‘Ownership’?

B. Vindication and possessory actions 1. Vindication 2. Possessory actions C. Acquisitive prescription and original acquisition 1. Mixtures, specification, and occupation 2. Acquisitive prescription

8. The Characterization of Cryptocurrencies in East Asia I. Introduction

8.01

II. Cryptocurrencies: Reinventing Money?

8.02

III. The Roman-​Germanic Terrain of East Asian Civil Law

8.06

IV. The Unbearable Strictness of Owning?

8.10 8.10 8.12 8.16

V. Real Rights without Tangible Objects: Quasi-​Real Rights?

8.22 8.28 8.31 8.33

VI. Conclusion

8.34

VII. Postscript

8.35

A. A fundamental distinction: ownership and its objects B. The objects of ownership in East Asia C. Cryptocurrencies as objects of ownership?

A. Rei vindicatio B. Damages under tort law C. Electing between remedies

9. Cryptocurrencies and Banking Law: Are there Lessons to Learn?

I. Introduction

9.01

II. The Cryptocurrency as a Store of Value

9.04 9.13 9.16 9.18 9.20

III. The Cryptocurrency as Payment

9.21

A. The duty to act within mandate B. The duty of secrecy C. The duty to act with reasonable skill and care D. Fiduciary duties

xiii

xvi

Contents IV. The Cryptocurrency as a Basis for Lending

9.26

V. Conclusion

9.27

10. Taxation of Cryptocurrencies I. Background

10.01 10.13 10.16

II. International Approaches

10.18 10.18 10.18 10.38 10.49 10.51 10.54 10.57 10.59 10.62

A. Direct taxes B. Value-​added taxes A. Cryptocurrencies as property 1. United States 2. Australia: income tax and capital gains tax 3. Other countries a) Singapore b) France c) Israel d) The UK B. Cryptocurrencies as currency 1. Australia: goods and services tax—​supplies of cryptocurrencies 2. European VAT 3. UK VAT 4. UK corporation tax 5. UK business tax 6. Switzerland C. Other approaches

10.63 10.68 10.74 10.82 10.85 10.86 10.90

III. Consideration of the Tax Treatment of Cryptocurrencies

10.98 10.100 10.112

IV. Conclusions

10.121

A. Equality B. Efficiency, convenience, and certainty

11. Non-​State Community Virtual Currencies I. Introduction: What Is Digital Community Currency?

11.01

II. Legal Tender and Money

11.08

III. Exchange, Community, and Money: Chicken and Egg?

11.17

IV. How Far Ought Acceptance Be Free? Lessons from History

11.26

V. Does Digitization Change the Meaning of a ‘Monetary’ Community?

11.33

VI. Privately Issued Money: Does Law Converge with Economic Sociology?

11.41

xiv

xv

Contents VII. Is the Banknote Unique? The Reach of Its Legal History

11.46

VIII. Do Cryptocurrencies Constitute ‘Money’?

11.54

IX. Does Community Money Bring Net Benefits?

A Brief Overview

11.61

X. Conclusion and Final Observations

11.66

Index

307

xv

xvi

xvi

TABLE OF CASES

UNITED KINGDOM A/​S Awilco of Oslo v Fulvia SpA di Navigazione of Cagliari, The Chikuma [1981] 1 WLR 314 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.25 Able UK Ltd v HMRC [2007] EWCA Civ 1207 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.21 Actavis UK v Eli Lilly & Co [2015] EWCA Civ 555, [2016] 4 All ER 666 . . . . . . . . . . . . . . . 5.92 Akbar Khan v Attar Singh [1936] 2 All ER 545 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.09 Alldridge v Johnson (1857) 7 E & B 885, 119 ER 1476 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.16 Amin Rasheed Shipping Corporation v Kuwait Insurance Co [1984] AC 50 . . . . . . . . . . . . . . 5.41 Armstrong DLW GmbH v Winnington Networks Ltd [2012] EWHC 10 (Ch), [2013] Ch 156 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.29, 6.38, 6.39, 6.41, 6.103, 9.04, 9.09 Arnold v Britton [2015] UKSC 36, [2019] AC 1619 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.78 Ashton Investments Ltd v OJSC Russian Aluminium (Rusal) [2006] EWHC 2545 (Comm) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.08 Attorney-​General v Observer Ltd [1990] 1 AC 109 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.16, 9.17 Attorney-​General for Hong Kong v Nai-​Keung [1987] 1 WLR 1339 . . . . . . 3.29, 3.30, 6.41, 9.09 Azam v Iqbal [2007] EWHC 2025 (Admin) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.09 BBMB Finance Ltd v Eda Holdings Ltd [1990] 1 WLR 409 . . . . . . . . . . . . . . . . . . . . . . . . . 6.104 BCCI (Overseas) Ltd v Akindele [2001] Ch 437 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.105 Banco de Portugal v Waterlow & Sons Ltd [1932] AC 452 (HL) . . . . . . . . . . . . . . . . . . . . . . . 4.15 Banks v Whetson (1596) Cro Eliz 457 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.51 Barclays Bank v Quincecare [1992] 4 All ER 363 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.19 Barclays Bank v Taylor [1989] 1 WLR 1066 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.16, 9.17 Barclays Bank plc v O’Brien [1994] 1 AC 180 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.98 Barlow Clowes International Ltd (in liq) v Vaughan [1992] 4 All ER 22 . . . . . . . . 6.87, 6.89, 6.94 Black v Freeman & Co (1910) 12 CLR 105 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.49 Breyer Group Plc and Others v Department of Energy and Climate Change [2014] EWHC 2257 (QB) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.29 British Red Cross Balkan Fund, Re [1914] 2 Ch 419 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.94 Burnett’s Trs v Grainger 2004 SC (HL) 19 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.09 Campanari v Woodburn (1854) 15 CB 400 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.15 Campbell v Mirror Group Newspapers Ltd [2004] 2 AC 457 . . . . . . . . . . . . . . . . . . . . . . . . . 9.16 Celtic Extraction Ltd, Re [2001] Ch 475 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.41, 9.09 Charge Card Services Ltd, Re [1989] Ch 497 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.38, 9.25, 11.46 Clarke v Shee (1774) 1 Cowp 197 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.49, 6.59 Clayton’s Case, Devaynes v Noble (1816) 1 Mer 529 . . . . . . . . . . . . . . . . . . . . . . . 6.89, 6.91, 6.94 Coats Ltd v Inland Revenue Commissioners [1897] 1 QB 778, [1897] 2 QB 423 . . . . . . . . . . 2.35 Coco v AN Clark (Engineers) Ltd [1968] FSR 415 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.16 Coinstar Ltd v The Commissioners for Her Majesty’s Revenue and Customs [2016] UKFTT 0610 (TC), aff’d [2017] UKUT 256 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.04 Colonial Bank v Whinney (1885) LR 30 Ch 261, adopted (1886) LR 11 App Cas 426 (HL) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.28, 6.32, 6.33, 6.38 Commerzbank AG v IMB Morgan [2004] EWHC 2771 (Ch); [2005] 2 All ER (Comm) 564 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.89

xvii

xvi

Table of Cases Commissioners of Taxation v English, Scottish and Australian Bank [1920] AC 683 . . . . . . . . 9.08 Coutts & Co v Stock [2000] 1 WLR 906 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.11 Cowan de Groot Properties v Eagle Trust [1992] 4 All ER 700 . . . . . . . . . . . . . . . . . . . . . . . 6.100 Cox v Ergo Versicherung [2014] UKSC 22, [2014] AC 1379 . . . . . . . . . . . . . . . . . . . . . . . . . 5.92 Cretanor Maritime Co Ltd v Irish Marine Management Ltd [1978] 1 WLR 966 . . . . . . . . . . . 9.15 Customs & Excise Commissioners v Barclays Bank plc [2007] 1 AC 181 . . . . . . . . . . . . . . . . 9.15 Davies v Customs and Excise Commissioners [1975] 1 WLR 204 . . . . . . . . . . . . . . . . . . . . . . 2.37 Delbrueck & Co v Manufacturers Hanover Trust, 609 F 2d 1047 (2nd Cir, 1979) 1051 . . . . . 9.22 Despina R [1979] AC 685 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.90 Devaynes v Noble, Clayton’s Case (1816) 1 Mer 529 . . . . . . . . . . . . . . . . . . . . . . . 6.89, 6.91, 6.94 Diamantides v J P Morgan Chase Bank [2005] EWCA Civ 1612 . . . . . . . . . . . . . . . . . . . . . . 9.20 Diplock, Re [1948] Ch 465 �����������������������������������������������������������������������������������������������������6.78 Douglas v Hello! Ltd (No 3) [2008] 1 AC 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.16 Drew v Nunn (1879) 4 QBD 661 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.15 Earl of Haig’s Trustees v IR 1939 SC 676 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.21 Egon Oldendorff v Libera Corp [1995] 2 Lloyd’s Rep 64 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.71 El Ajou v Dollar Land Holdings plc [1993] 3 All ER 717 . . . . . . . . . . . . . . . . . . 6.49, 6.56, 6.106 Emperor of Austria v Day and Lossuth (1861) 3 De G F & J 217, 45 ER 861 . . . . . . . 3.18, 11.12 Environment Agency v Churngold Recycling [2014] EWCA Civ 909, [2015] Env LR 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.29 Foley v Hill (1848) HLC 28 . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.15, 6.30, 7.13, 9.09, 9.10, 11.47 Footman Bower & Co Ltd, Re [1961] 1 Ch 443 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.90 Foskett v McKeown [2001] 1 AC 102 . . . . . . . . . . . . . . . 4.68, 6.75, 6.79, 6.85, 6.87, 6.105, 9.09 Foster v Driscoll [1920] 1 KB 470 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.82 Fourie v Le Roux [2007] 1 All ER 1087 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.15 Government of India v Taylor [1955] AC 491 (HL) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.18 Governor & Company of the Bank of Scotland v A Ltd [2001] 1 WLR 751 . . . . . . . . . 9.09, 9.20 Governor and Company of the Bank of Scotland v Alfred Truman [2005] EWHC 583 (QB) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.22 Hallett’s Estate, Re (1880) 13 ChD 696 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.78, 6.95, 6.105 Halpern v Halpern [2007] EWCA Civ 291, [2008] QB 195 . . . . . . . . . . . . . . . . . . . . . . . . . . 5.37 Hill & Al v Lewis (1693), 1 Salk 132, 91 ER 124 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.44 Hollicourt (Contracts) Ltd v Bank of Ireland [2001] 2 WLR 290 . . . . . . . . . . . . . . . . . 9.11, 9.15 Hopkins v Geary (1702), Hill Ann BR Guildhall . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.44 Hunter v Moss [1993] 1 WLR 934, [1994] 1 WLR 452(CA) . . . . . . . . . . . . . . . . . . . . . . . . . 6.47 IBL Ltd v Coussens [1991] 2 All ER 133 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.104 IRC v Muller & Co’s Margarine Ltd [1901] AC 217 . . . . . . . . . . . . . . . . . . . . . . . . . 5.108, 5.110 Indian Oil Corporation Ltd v Greenstone Shipping SA (Panama) [1987] QB 345 . . . . . . . . . . 6.87 Industrial and Commercial Bank Ltd v Banco Ambrosiano Veneto SpA [2003] 1 SLR 221 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.24 Ireland v Livingstone (1872) LR 5 HL 395 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.13 Isaack v Clark (1615) Bulstrode 307; 1 Rolle 126 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.51 J & P Coats Ltd v Inland Revenue Commissioners [1897] 1 QB 778, [1897] 2 QB 423 . . . . . 2.35 J P Morgan Chase Bank v Springwell Navigation Corporation [2008] EWHC 1186 (Comm), aff’d [2010] EWCA Civ 1221 . . . . . . . . . . . . . . . . . . . . . . . . 9.11, 9.19, 9.20 Jervis v Harris [1996] Ch 195 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.43 Joachimson v Swiss Bank Corporation [1921] 3 KB 110 . . . . . . . . . . . 6.15, 6.87, 6.90, 9.10, 9.12 John Foster & Sons Ltd v Inland Revenue Commissioners [1894] 1 QB 516 . . . . . . . . . . . . . . 2.35

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Table of Cases K v National Westminster Bank plc [2006] 2 All ER (Comm) 655 . . . . . . . . . . . . . . . . . . . . . 9.23 Karak Rubber Co Ltd v Burden [1972] 1 WLR 602 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.18 Kotonou v National Westminster Bank plc [2010] EWHC 1659 (Ch) . . . . . . . . . . . . . . . . . . 9.20 Kuwait Airways Corporation v Iraqi Airways Co (Nos 4 and 5) [2002] 2 AC 883 . . . . . . . . . . 6.29 Laconia [1977] AC 850 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.25 Ladbroke & Co v Todd (1914) 30 TLR 433 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.10 Lancare Services Ltd v Barclays Bank plc [2009] EWCA Civ 752 . . . . . . . . . . . . . . . . . . . . . . . 9.22 Lawlor v Sandvik Mining and Construction Mobile Crushers and Screens Ltd [2013] EWCA Civ 365, [2013] 1 Lloyd’s Rep 98 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.63 Leask v Commonwealth [1996] HCA 29, (1996) 187 CLR 579 . . . . . . . . . . . . . . . . . . . . . . 10.41 Lehman Brothers International (Europe) [2012] UKSC 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.09 Leigh and Sillavan Ltd v Aliakmon Shipping Co Ltd [1986] AC 785 . . . . . . . . . . . . . . . . . . . . 9.08 Libyan Arab Foreign Bank v Bankers Trust Co [1989] QB 728 . . . . . . . . . . . . . . . . . . . . . . . . 5.83 Lipkin Gorman v Karpnale (a firm) [1991] 2 AC 548 . . . . . . . . . . . . 6.30, 6.59, 6.103, 9.16, 9.19 Littlewoods Mail Order Stores v Inland Revenue Commissioners [1963] AC 135 . . . . . . . . . . 2.35 Lloyds Bank Ltd v Bundy [1975] QB 326 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.20 London and Mediterranean Bank, Re (1870) LR 5 Ch App 567 . . . . . . . . . . . . . . . . . . . . . . . 9.15 London Joint Stock Bank v Macmillan [1918] AC 777 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.13 London Joint Stock Bank v Simmon [1892] AC 201 (HL) . . . . . . . . . . . . . . . . . . . . . . . . . . 11.16 Lupofresh Ltd v Sapporo Breweries Ltd [2013] EWCA Civ 948, [2013] 2 Lloyd’s Rep 444 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.71 Macmillan Inv v Bishopsgate Investment Trust plc (No 3) [1995] 1 WLR 978 . . . . . . . . . . . . 6.98 Mansouri v Singh [1986] 1 WLR 1391 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.88 Mardorf Peach & Co Ltd. v Attica Sea Carriers Corporation of Liberia, The Laconia [1977] AC 850 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.25 Mercedes-​Benz v Leiduck [1996] AC 284 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.15 Midland Bank v Seymour [1955] 2 Lloyd’s Rep 147 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.13 Miliangos v George Frank (Textiles) Ltd [1976] AC 443 . . . . . . . . . . . . . . . . . . . 5.90, 5.92, 11.10 Miller v Race (1758) 1 Burr. 452; 97 ER 398 (KB) . . . . . . . . . . . . . . 4.37, 6.51, 6.59, 6.61, 6.62, 7.33, 11.08, 11.12 Montagu’s ST, Re [1987] Ch 264 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.105 Moss v Hancock [1899] 2 QB 111 . . . . . . . . . 2.13, 6.64–​6.65, 11.13, 11.23, 11.41, 11.51, 11.53 Murphy v HSBC Bank plc [2004] EWHC 467 (Ch) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.20 N Joachimson v Swiss Bank Corporation [1921] 3 KB 110 . . . . . . . . . 6.15, 6.87, 6.90, 9.10, 9.12 NSB Ltd v Worldplay Ltd [2012] EWHC 927 (Comm) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.22 National Commercial Bank (Jamaica) Ltd v Hew [2003] UKPC 51 . . . . . . . . . . . . . . . . . . . . 9.19 National Provincial Bank Ltd v Hastings Car Mart Ltd [1965] AC 1175 . . . . . . . . . . . . . . . . . 9.09 National Westminster Bank Ltd v Halesowen Presswork Assemblies Ltd [1972] AC 785 . . . . . 9.15 Navee Ltd v The Commissioners for Her Majesty’s Revenue and Customs [2017] UKFTT 0602 (TC) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.04 OBG Ltd v Allan [2007] UKHL 21, [2008] 1 AC 1 . . . . 2.04, 6.29, 6.42, 6.46, 6.102, 7.30, 9.08 Office of Fair Trading v Lloyds TSB Bank plc [2008] 1 Lloyd’s Rep 30 . . . . . . . . . . . . . . . . . . 9.22 One Step (Support) Ltd v Morris-​Garner [2018] 2 WLR 1353 . . . . . . . . . . . . . . . . . . . . . . . . 7.21 Owners of MV Despina R, The Despina R [1979] AC 685 . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.90 PJS v News Group Newspapers [2016] UKSC 26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.16 PML v Person(s) Unknown (responsible for demanding money on 27 February 2018) [2018] EWHC 838 (QB) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.01 Papadimitriou v Crédit Agricole Corpn and Investment Bank [2015] UKPC 13, [2015] 1 WLR 4265 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.98

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Table of Cases Patel v Mirza [2016] UKSC 42, [2017] AC 467 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.82 Perrin v Morgan [1943] AC 399 (HL) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.15 Pettit v Novakovic [2007] BPIR 1643 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.15 Pharaon v Bank of Credit and Commerce International SA [1998] 4 All ER 455 . . . . . . . . . . 9.17 Phillips v News Group Newspapers Ltd [2013] 1 AC 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.10 Phipps v Boardman [1967] 2 AC 46 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.09 Popek v National Westminster Bank plc [2002] EWCA Civ 42 . . . . . . . . . . . . . . . . . . . . . . . . 9.20 Price Waterhouse v BCCI Holdings (Luxembourg) SA [1992] BCLC 583 . . . . . . . . . . . . . . . . 9.17 Quistclose Investments Ltd v Rolls Razor Ltd [1970] AC 567 . . . . . . . . . . . . . . . . . . . . . . . . . 2.46 R J Reuter Co Ltd v Mulhens (No 2) [1954] Ch 50 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.108 R (United Kingdom Association of Fish Producer Organisations) v Secretary of State for Environment Food and Rural Affairs [2013] EWHC 1959 (Admin) . . . . . . . . . . . . . . . . 3.29 R v Preddy [1996] AC 815 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.19, 6.54, 9.04 R v Velumyl [1989] Crim LR 299 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.28, 6.24 Raiffaisen Zentralbank Österreich AG v Five Star Trading LLC [2001] EWCA Civ 68, [2001] QB 827 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.32, 5.104 Ralli Bros v Compania Naviera Sota y Aznar [1920] 1 KB 614 . . . . . . . . . . . . . . . . . . . . . . . . 5.82 Regazzoni v KC Sethia Ltd [1956] 2 QB 490 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.82 Robshaw Brothers Ltd v Mayer [1957] Ch 125 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.35 Ross v Lord Advocate 1986 SC (HL) 70 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.13 Royal Brunei Airlines Sdn Bhd v Tan [1995] AC 378 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.100 Russell-​Cooke Trust Co. v Prentis [2002] EWHC 2227 (Ch), [2003] All ER 478 . . . . . 6.87, 6.94 Schioler v Westminster Bank Ltd [1970] 2 QB 719 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.18, 9.19 Scott v Surman (1742) Willes 400 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.51 Secure Capital SA v Credit Suisse AG [2015] EWHC 388 (Comm), aff’d [2017] EWCA Civ 1486 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.09 Selangor United Rubber Estates Ltd v Craddock (No 3) [1968] 1 WLR 1555 . . . . . . . . . . . . . 9.18 Services Europe Atlantique Sud v Stockholm’s Rederiaktebolag SVEA (The Foleas) [1979] AC 685 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.90 Shah v HSBC Private Bank (UK) Ltd [2010] EWCA Civ 31 . . . . . . . . . . . . . . . . . . . . . 9.19, 9.23 Shalson v Russo [2003] EWHC 1637 (Ch), [2005] Ch 281 . . . . . . . . . . . 6.49, 6.55, 6.56, 6.106 Sharp v Thompson 1995 SC 455 (IH) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.24 Sierra Telecommunications Co Ltd v Barclays Bank plc [1998] 2 All ER 821 . . . . . . . . . . . . . . 9.14 Simpson v Connolly [1953] 1 WLR 911 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.34, 2.35 Sinclair Investments (UK) Ltd v Versailles Trade Finance Ltd (In Administration) [2011] EWCA Civ 347, [2012] Ch 453 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.98 Société Eram Shipping Co Ltd v Compagnie Internationale de Navigation [2004] 1 AC 260 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.14 Sollaway v McLoughlin [1938] AC 247 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.104 South African Breweries International (Finance) BV v Laugh it Off Promotions CC [2005] FSR 30 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.12 Space Investments Ltd v Canadian Imperial Bank Trust Co (Bahamas) Ltd [1986] WLR 1072 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.31 Squirrel Ltd v National Westminster Bank plc [2005] 2 All ER 784 . . . . . . . . . . . . . . . . . . . . . 9.23 St Albans District Council v International Computers Ltd [1996] 4 All ER 481 . . . . . . . . . . . 9.11 Stafford v Conti Commodity Services [1981] 1 All ER 691 . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.19 Standard Bank London Ltd v The Bank of Tokyo Ltd [1995] 2 Lloyds Rep 169 . . . . . . . . . . . 9.24 Sunderland v Barclays Bank Ltd (1938) 5 LDAB 163 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.17 Swift v Dairywise Farms Ltd [2000] 1 WLR 177 . . . . . . . . . . . . . . . . . . . . . 3.29, 3.33, 6.41, 9.09 TSB Bank of Scotland v Welwyn Hatfield District Council [1993] Bank LR 267 . . . . . . . . . . 9.25 Tai Hing Cotton Mill Ltd v Liu Chong Hing Bank [1986] AC 80 . . . . . . . . . . . . . . . . . . . . . . 9.24

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Table of Cases Tamimi v Khodari [2009] EWCA Civ 1042 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.20 Tassell and Lee v Lewis (1695), 1 Ld. Raym. 743, 91 ER 1397 . . . . . . . . . . . . . . . . . 11.43, 11.44 Taurus Petroleum v State Oil Marketing Co of the Ministry of Oil, Iraq [2017] UKSC 64 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.14 Tayeb v HSBC Bank plc [2004] 4 All ER 1024 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.22, 9.23 Tidal Energy Ltd v Royal Bank of Scotland plc [2015] 2 All ER 15 . . . . . . . . . . . . . . . . . . . . . 9.24 Tournier v National Provincial and Union Bank of England [1924] 1 KB 461 . . . . . . . . 9.16, 9.17 Turner v Royal Bank of Scotland [1999] 2 All ER (Comm) 664 . . . . . . . . . . . . . . . . . . . . . . . 9.17 United City Merchants v Royal Bank of Canada [1983] 1 AC 168 . . . . . . . . . . . . . . . . 5.86, 5.88 United Dominions Trust Ltd v Kirkwood [1966] 2 QB 431 . . . . . . . . . . . . . . . . . . . . . . . . . . 9.08 United Railways of the Havana and Regla Warehouses [1961] AC 1007 . . . . . . . . . . . 5.90, 11.10 Valse Holdings SA v Merrill Lynch International Bank Ltd [2004] EWHC 2471 (Comm) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.19 Verjee v CIBC Bank and Trust Company (Channel Islands) Ltd [2001] Lloyd’s Rep Bank 279 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.19 Vestergaard Frandsen A/​S v Bestnet Europe Ltd [2013] 1 WLR 1556 . . . . . . . . . . . . . . . . . . . 9.16 Ward v Evans (1702), 2 Ld Raym 928, 92 ER 120 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.44 Welex AG v Rosa Maritime Ltd [2003] EWCA Civ 938, [2003] 2 Lloyd’s Rep 509 . . . . . . . . . 5.71 Westdeutsche Landesbank v Islington LBC [1996] AC 669 . . . . . . . . . . . . . . . . . . . . . 6.49, 6.106 Westminster Bank v Hilton (1926) 136 LT 315 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.11, 9.13 Westminster Property Group, Re [1984] 1 WLR 1117, aff’d [1985] 1 WLR 676 . . . . . . . . . . . 2.35 White & Carter (Councils) Ltd v McGregor [1962] AC 413 . . . . . . . . . . . . . . . . . . . . . . . . . . 2.43 Whitecomb v Jacob (1710) 1 Salk 160 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.51 Williams & Glyn’s Bank Ltd v Barnes [1981] Com LR 205 . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.19 Wilson, Smithett & Cope Ltd v Terruzzi [1976] QB 683 . . . . . . . . . . . . . . . . . . . . . . . . 5.85, 5.86 Wilton Park Ltd v Commissioners for Her Majesty’s Revenue and Customs [2015] UKUT 343 (TCC) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.04 (The) Winkfield [1902] P 42 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.50 Woods v Martins Bank Ltd [1959] 1 QB 55 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.10 Wooley v Poole (1820) 4 B & Ald 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.33 Wright v HSBC plc [2006] EWHC 930 (QB) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.09 Young v Toynbee [1910] 1 KB 215 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.15 Your Response Ltd v Datateam Media Ltd [2014] EWCA Civ 281, [2015] QB 41 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.04, 6.29, 6.38, 6.42, 9.11 EUROPEAN UNION Regina v Thompson (1978) ECR 02247 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.39 Case 34/​82, Martin Peters Bauunternehmung GmbH v Zuid Nederlandse Aannemers Verenigung [1983] ECR 987 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.28, 5.29, 5.32 Case C-​256/​00, Besix SA v Wasserreinigungsbau Alfred Kretzschmer GmbH & Co KG [2002] ECR I-​1699 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.32 Case C-​464/​01, Gruber v Bay Wa [2005] ECR I-​439 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.70 Case C-​27/​02, Engler v Janus Versand GmbH [2005] ECR I-​481 . . . . . . . . . . . . . . . . . . . . . . 5.29 Case C-​180/​06, Ilsinger v Dreschers [2009] ECR I-​3961 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.29 Case C-​533/​07, Falco Privatstiftung v Weller-​Lindhors [2009] ECR I-​3327 . . . . . . . . . 5.10, 5.52 Case C-​381/​08, Car Trim GmbH v Key Safety Systems Srl [2010] ECLI:EU:C:2010:90 . . . . . 5.10 Case C-​585/​08, Pammer v Reederei Karl Schlüter GmbH [2010] ECR I-​12527 . . . . . . . . . . . 5.70 Case C-​509/​09, eDate Advertising GmbH v X [2011] ECR I-​10269 . . . . . . . . . . . . . . . . . . . . 5.11 Case C-​523/​10, Wintersteiger AG v Products 4U Sondermaschinenbau GmbH [2012] ECLI:EU:C:2012:220 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.11, 5.12, 5.60

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Table of Cases Case C-​64/​12, Schlecker v Boedeker [2013] ECLI:EU:C:2013:551 . . . . . . . . . . . . . . . . . . . . . 5.63 Case C-​218/​12, Emrek v Sabranovic [2013] ECLI:EU:C:2013: 666 . . . . . . . . . . . . . . . . . . . . 5.70 Case C-​548/​12, Brogsitter v Fabrication de Montres Normandes EURL [2014] ECLI:EU:C:2014:148 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.30 Case C-​305/​13, Haeger & Schmidt GmbH v Mutuelles du Mans Assurances IARD [2014] ECLI:EU:C:2014:2320 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.62, 5.63 Case C-​352/​13, Cartel Damage Claims Hydrogen Peroxide SA v Evonik Degussa GmbH [2015] ECLI:EU:C:2015:335 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.11 Case C-​366/​13, Profit Investment Sim SpA [2016] ECLI:EU:C:2016:282 . . . . . . . . . . . . . . . 5.31 Case C-​373/​13 Kolassa v Barclays Bank plc [2015] ECLI:EU:C:2015:37 . . . . . . . . . . . . . . . . 5.28 Case C-​441, Hejduk v Energie.Agentur.NRW GmbH [2015] ECLI:EU:C:2015:28 . . . . . . . . 5.12 Case C-​264/​14 Skatteverket v Hedquist [2015] ECLI:EU:C:2015:208 . . . . 3.11, 3.15, 3.36, 5.10, 5.51, 5.52, 9.05, 10.66, 10.68, 10.74, 10.79, 10.97 Case C-​359/​14, Ergo Insurance SE v If P & C Insurance AS [2016] ECLI:EU:C:2016:4 . . . . . . 5.28 Case C-​12/​15, Universal Music International Holding BV v Schilling [2016] ECLI:EU:C:2016:449 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.11 Case C-​135/​15, Republik Griechenland v Nikiforidis [2016] ECLI:EU:C:774 . . . 5.47, 5.75, 5.82 Case C-​196/​15, Granarola SpA v Ambrosi Emmi France SA [2016] ECLI:EU:C:2016:559 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.10 Case C-​618/​15, Concurrence SARL v Samsung Electronics France SAS [2016] ECLI:EU:C:2016:976 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.12 Case C-​194/​16, Bolagsupplysningen OÜ v Svensk Handel AB [2107] ECLI:EU:C:2017 ECLI:EU:C:2017 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.11 Case C-​249/​16, Kareda v Benko [2016] ECLI:EU:C:2017:472 . . . . . . . . . . . . . . . . . . . 5.53, 5.57 Case C-​274/​16, Flightright GmbH v Air Nostrum [2018] ECLI:EU:C:2018:160 . . . . . . . . . . 5.30 Case C-​64/​17, Saey Home & Garden NV/​SA v Lusavouga-​Máquinas e Acessórios Industriais SA [2017] ECLI:EU:C:2018:173 . . . . . . . . . . . . . . . . . . . . . . . . . 5.10, 5.53, 5.56 INTERNATIONAL Corfu Channel case (UK v Albania) (Merits) [1949] ICJ Rep 4 . . . . . . . . . . . . . . . . . . . . . . . . 3.19 Decision of the European Central Bank of 5 June 2014 on the remuneration of deposits, balances, and holdings of excess reserves ECB/​2014/​23 . . . . . . . . . . . . . . . . . . . . . . . . . . 4.24 Dolneanu v Moldova, App No 17211/​03 (ECtHR, 13 November 2007) . . . . . . . . . . . . . . . . . 3.21 Lesina v Ukraine, App No 9510/​03 (ECtHR, 19 June 2008) . . . . . . . . . . . . . . . . . . . . . . . . . . 3.21 Opinion of the European Central Bank of 12 October 2016 on a proposal for a directive of the European Parliament and of the Council amending Directive (EU) 2015/​849 . . . . . . 5.01 Parillo v Italy (2015) 62 EHRR 300 (Grand Chamber) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.14 Rudzinska v Poland, App No 45223/​99 (ECtHR, 7 September 1999) . . . . . . . . . . . . . . . . . . . 3.22 INTERNATIONAL TRIBUNALS Serbian Loans case (France v Kingdom of the Serbs, Croats and Slovenes [1929] PCIJ Rep Series A No 20 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.16, 3.17 OTHER JURISDICTIONS Australia Australian Securities and Investments Commission v Citigroup Global Markets Australia Pty Ltd (No 4) (2007) 241 ALR 705 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.20 Commissioners of the State Savings Bank of Victoria v Permewan, Wright & Co Ltd (1914) 19 CLR 457 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.10 Daewoo Australia Pty Ltd v Suncorp-​Metway Ltd (2000) 33 ACSR 48 . . . . . . . . . . . . . . . . . . 2.28 French Caledonia Travel, Re (2004) 22 ACLC 498 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.87, 6.90

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Table of Cases Gammasonics Institute for Medical Research Pty Ltd v Comrad Medical Systems Pty Ltd [2010] NSWSC 267 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.11 Hills Industries Ltd v Australian Financial Services and Leasing Pty Ltd [NSWCA] 380 . . . . . 2.45 Matthews v The Queen [2014] VSCA 291 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.01 Matter Technology Ltd v Mrakas [2018] NSWSC 507 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.02 O’Dea v Merchants Trade-​Expansion Group Ltd (1938) 37 AR (NSW) 410 . . . . . . . . . 2.36, 2.37 Watson v Lee [1979] HCA 53 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.18 White v Shortall (2006) 206 Federal Law Reports 254 (SCNSW) . . . . . . . . . . . . . . . . . . . . . . 6.47 Canada Bank of Canada v Bank of Montreal [1978] 1 SCR 1148 . . . . . . . . . . . . . . . . . . . . . . . . 4.10, 4.15 Dearborn v Saskatchewan (Financial and Consumer Affairs Authority) [2017] SKCA 63 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.01 Ontario Securities Commission and Greymac Credit Corp (1985) 55 OR (2d) 673 . . . . . . . . 6.94 Reference Re Alberta Statutes (1938) [1938] SCR 100 . . . . . . . . 11.13, 11.23, 11.41, 11.51, 11.53 China Shenzhen Court of International Arbitration Decision, Bitcoin Arbitration, 25 October 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.35 India CUB Pty Ltd v UOI (71 taxmann.com 315) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.120 Ireland Attorney-​General v Davis [2018] IESC 27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.01 Japan Japan Supreme Court Judgment, 18 Sep. 1940 Minshu 19-​1611 . . . . . . . . . . . . . . . . . . . . . . . 8.25 Japan Supreme Court Judgment, April 13, Saibansho Jihou 1505-​12 . . . . . . . . . . . . . . . . . . . . 8.31 Tokyo District Court Judgment, Heisei 26 (wa) no 33320, Heisei 27.8.5 . . . . . . . . . . . . . . . . 8.19 Netherlands Case No C/​13/​642655/​FTRK 18196, Rechtbank Amsterdam (20 March 2018) . . . . . . . . . . . 3.43 Case No C/​08/​140456/​HAZA 13.255, Rechtbank Overijssel (14 May 2014) . . . . . . . . . . . . . 3.43 New Zealand Dixon v The Queen [2015] NZSC 147 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.04 Fortex Group v Macintosh [1998] 3 NZLR 171 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.07 Singapore B2C2 Ltd v Quoine Pte Ltd [2018] SGHC 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.16 South Korea Korean Supreme Court Judgment, 19 Jan. 2017 No 2013 DA 17292 . . . . . . . . . . . . . . . . . . . 8.25 Korean Supreme Court Judgment, 30 May 2018 No 2018 DO 3619 . . . . . . . . . . . . . . . . . . . 8.16 Suwon District Court Judgment, 30 Jan. 2017 No 2017 NO 7120 . . . . . . . . . . . . . . . . . . . . . 8.16 Suwon District Court Judgment, 7 Sep. 2018 No 2017 GODAN 2884 . . . . . . . . . . . . 8.16, 8.29

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Table of Cases Switzerland Decision of 1917 of the Swiss Federal Court 47 II 267 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.14 Swiss Federal Tribunal decision 4C.149/​2005 of 3 July 2006 . . . . . . . . . . . . . . . . . . . . . . . . . . 4.68 Swiss Federal Tribunal decision 6B.994/​2010 of 7 July 2011 . . . . . . . . . . . . . . . . . . . . . . . . . . 4.67 Tax Council Decision SKM 2018.104-​SR . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.91 United States Coffey v Ripple Labs Inc, US Dist Lexis 135585 (2018) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.01 Coinflip Inc, Re, Commodity and Futures Trading Commission, CFTC Docket No 15-​29 of 2015 (17 September 2015) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.01 Commodity Futures Trading Commission v McDonnell, 287 F.Supp 3d 213 (EDNY; 2018) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.01 Greene v Mizuh Bank Ltd, US Dist Lexis 95536 (DC Ill, 2018) . . . . . . . . . . . . . . . . . . . . . . . 9.06 Hashfast Technologies LLC v Lowe, In re, Case No 15-​03011 (ND CAL 2016) . . . . . . . . . . . 3.43 Johnson v State, 52 So 652, 167, Ala 82 (Ala, 1 January 1910) . . . . . . . . . . . . . . . . . 11.16, 11.42 Leidel v Sallah, US App Lexis 10464 (2018) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.06 Microsoft Corporation v United States, 855 F.3d 53 (2017), 62 . . . . . . . . . . . . . . . . . . . . . . . . 9.15 Rensel v Centra Tech Inc, US Dist Lexis 106642 (DC Fla., 2018) . . . . . . . . . . . . . . . . . . . . . . 9.04 Rhodes v Lindly, 3 Ohio 51 (1827) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.16, 11.52 Securities and Exchange Commission v Shavers and Bitcoin Savings and Trust, Case No 4:13-​CV-​00416 (ED TEX 2014) (6 August 2013) . . . . . . . . . . . . . . . . . . 3.43, 9.04 State v Finnegan, Peter 103 NW 155, 127 Iowa 286 (Iowa, 1905) . . . . 11.09, 11.16, 11.42, 11.52 State of Florida v Espinoza, Case No Fl 14-​2923 (FLA CIR 2016) . . . . . . . . . . . . . . . . 3.43, 11.54 United States v Arjona (1887) 120 US 479 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.18 United States v Brown, 857 F.3d 334 (6th Cir, 2017) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.01 United States v Coinbase Inc, US Dist 196306 (ND Ca, 2017) . . . . . . . . . . . . . . . . . . . . . . . . 9.17 United States v Robert M Faiella (Case 1:14-​cr-​000243-​JSR, SDNY, 8 August 2014), 39 F Supp 3d 544 (2014) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.04, 11.54 United States v Grosh 342 F2d 141 (1965) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.18 United States v Murgio, 15-​CR-​769 (AJN) (SDNY, 12 January 2017) . . . . . . . . . . . . . . . . . . 3.43 United States v Ulbricht (Case 1:14-​cr-​00068-​KBF, SDNY, 9 July 2014), aff’d 858 F 3d 71 (2nd Cir, 2018) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.04, 9.05, 9.06, 9.07 Vick v Howard (1923) 136 Va 101 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.09 Wisconsin Central Ltd et al v United States, Docket No 17-​530, 138 S C 2067 (2018) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.04, 10.28

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TABLE OF LEGISLATION

UNITED KINGDOM STATUTES Administration of Estates Act 1925 ss 25, 52 . . . . . . . . . . . . . . . . . . . . . . . . 9.15 Bank of England Act 1998 s 2A . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.52 s 9B . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.52 s 9C . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.52 s 9H . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.52 s 9I . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.52 s 9L . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.52 s 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.57 Banking Act 2009 . . . . . . . . . . . . . . . . . . 3.52 Pt 6 . . . . . . . . . . . . . . . . . . . . . . . . . . 11.46 Bankruptcy Act 1883 . . . . . . . . . . . . . . . . 6.33 Bills of Exchange Act 1882 . . . . . . . . . . . . 4.15, 4.18, 11.08 s 29 . . . . . . . . . . . . . . . . . . . . . . 6.59, 11.08 s 30 . . . . . . . . . . . . . . . . . . . . . . . . . . 11.08 s 38 . . . . . . . . . . . . . . . . . . . . . . . . . . 11.08 s 75(1) . . . . . . . . . . . . . . . . . . . . . . . . . 9.22 s 75(2) . . . . . . . . . . . . . . . . . . . . . . . . . 9.15 s 83 . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.16 Coinage Act 1971 s 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.09 s 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.04 ss 9–​10 . . . . . . . . . . . . . . . . . . . . . . . . . 9.04 Consumer Credit Act 1974 s 75(1) . . . . . . . . . . . . . . . . . . . . . . . . . 9.22 Consumer Rights Act 2015 s 2(9) . . . . . . . . . . . . . . . . . . . . . . . . . . 9.08 s 33(1) . . . . . . . . . . . . . . . . . . . . . . . . . 9.08 s 34(1) . . . . . . . . . . . . . . . . . . . . . . . . . 9.08 s 35(1) . . . . . . . . . . . . . . . . . . . . . . . . . 9.08 ss 9–​11 . . . . . . . . . . . . . . . . . . . . . . . . . 9.16 s 33 . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.11 s 49(1) . . . . . . . . . . . . . . . . . . . . . . . . . 9.18 Copyright, Designs and Patents Act 1988 s 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.21 s 91 . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.21 Corporation Tax Act 2009 s 306A . . . . . . . . . . . . . . . . . . . . . . . . 10.84 Currency Act 1983 . . . . . . . . . . . . . . . . . 11.09 Currency and Bank Notes Act 1954 . . . . . 4.42 s 1 . . . . . . . . . . . . . . . . . . . . . . . 9.04, 11.09 Finance Act 2006 . . . . . . . . . . . . . . . . . . . 3.33

Financial Services and Markets Act 2000 . . . 3.42 Pt 15 . . . . . . . . . . . . . . . . . . . . . . . . . . 9.03 Pt 16 . . . . . . . . . . . . . . . . . . . . . . . . . . 9.03 s 2A . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.52 Fraud Act 2006 ss 1–​4 . . . . . . . . . . . . . . . . . . . . . . . . . . 3.30 s 2(2)(b) . . . . . . . . . . . . . . . . . . . . . . . . 3.30 s 3(b) . . . . . . . . . . . . . . . . . . . . . . . . . . 3.30 s 4(1)(b) . . . . . . . . . . . . . . . . . . . . . . . . 3.30 s 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.28 s 5(2) . . . . . . . . . . . . . . . . . . . . . . . . . . 3.30 Human Rights Act 1998 . . . . . . . . . 3.21, 3.54 Income Tax Act 2007 s 771 . . . . . . . . . . . . . . . . . . . . . . . . . . 9.17 Insolvency Act 1986 s 234(2) . . . . . . . . . . . . . . . . . . . . . . . . 9.15 s 236 . . . . . . . . . . . . . . . . . . . . . . . . . . 9.17 s 283(1) . . . . . . . . . . . . . . . . . . . . . . . . 6.07 s 365 . . . . . . . . . . . . . . . . . . . . . . . . . . 9.15 s 436 . . . . . . . . . . . . . . . . . . . . . . . . . . 9.15 Larceny Act 1861 s 100 . . . . . . . . . . . . . . . . . . . . . . . . . . 6.65 Mental Capacity Act 2005 s 2(1) . . . . . . . . . . . . . . . . . . . . . . . . . . 9.15 s 16(2) . . . . . . . . . . . . . . . . . . . . . . . . . 9.15 s 18(1) . . . . . . . . . . . . . . . . . . . . . . . . . 9.15 Police and Criminal Evidence Act 1984 s 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.17 Proceeds of Crime Act 2002 . . . . . . . 3.33, 9.15 Pt 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.33 s 326(1) . . . . . . . . . . . . . . . . . . . . . . . . 3.33 s 326(4) . . . . . . . . . . . . . . . . . . . . . . . . 3.33 s 326(9) . . . . . . . . . . . . . . . . . . . . . . . . 3.33 s 327 . . . . . . . . . . . . . . . . . . . . . . . . . . 3.32 s 327(1) . . . . . . . . . . . . . . . . . . . . . . . . 9.14 s 328 . . . . . . . . . . . . . . . . . . . . . . . . . . 3.32 s 328(1) . . . . . . . . . . . . . . . . . . . . . . . . 9.14 s 329 . . . . . . . . . . . . . . . . . . . . . . . . . . 3.32 s 329(1) . . . . . . . . . . . . . . . . . . . . . . . . 9.14 s 329(2)(a) . . . . . . . . . . . . . . . . . . . . . . 9.14 s 330 . . . . . . . . . . . . . . . . . . . . . . . . . . 9.14 s 330(5) . . . . . . . . . . . . . . . . . . . . . . . . 9.14 s 337 . . . . . . . . . . . . . . . . . . . . . . . . . . 9.17 ss 338–​339 . . . . . . . . . . . . . . . . . . . . . . 9.23 s 338(2)–​(3) . . . . . . . . . . . . . . . . . . . . . 9.14

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Table of Legislation s 340(3) . . . . . . . . . . . . . . . . . . . . . . . . 9.14 s 340(9) . . . . . . . . . . . . . . . . . . . . . . . . 9.14 Sch 9, para 1(1)(a) . . . . . . . . . . . . . . . . 9.14 Sale of Goods Act 1979 . . . . . . . . . 1.13, 2.27, 2.42, 9.08, 11.08 s 2(1) . . . . . . . . . . . . . . . . . . . . . . 2.27, 2.39 ss 12–​15 . . . . . . . . . . . . . . . . . . . . . . . 11.08 ss 13–​15 . . . . . . . . . . . . . . . . . . . . . . . . 9.16 s 20A . . . . . . . . . . . . . . . . . . . . . . . . . . 7.16 s 27 . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.39 s 55(1) . . . . . . . . . . . . . . . . . . . . . . . . . 2.39 s 61(1) . . . . . . . . . . . . . . . . . . . . . . . . . 2.33 Supply of Goods and Services Act 1982 s 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.18 Taxation of Capital Gains Act 1992 s 275A . . . . . . . . . . . . . . . . . . . . . . . 10.119 Taxes Management Act 1970 s 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.17 s 17 . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.17 s 24 . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.17 Terrorism Act 2000 . . . . . . . . . . . . . . . . . 9.23 s 21B . . . . . . . . . . . . . . . . . . . . . . . . . . 9.17 Theft Act 1968 . . . . . . . . . . . . . . . . . 3.29, 3.33 s 4 . . . . . . . . . . . . . . . . . . . . . . . . 3.28, 6.28 s 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.19 UNITED KINGDOM STATUTORY INSTRUMENTS Bank of England (Macro-​prudential Measures) Order 2015 (SI 2015/​909) . . . . . . . . . . . . . . . . . 3.52 Bank of England Act 1998 (Macro-​ prudential Measures) Order 2015 (SI 2015/​905) . . . . . . . . . . . . . . . . . 3.52 Bank of England Act 1998 (Macro-​ prudential Measures) Order 2016 (SI 2016/​1240) . . . . . . . . . . . . . . . . 3.52 Civil Procedure Rules Pt 24 . . . . . . . . . . . . . . . . . . . . . . . . . . 2.43 PD 25A . . . . . . . . . . . . . . . . . . . . . . . . 9.15 PD 72 . . . . . . . . . . . . . . . . . . . . . . . . . 9.14 Electronic Money Regulations 2011 (SI 2011/​99) reg 2(1) . . . . . . . . . . . . . . . . . . . . . . . . 9.04 Financial Collateral Arrangements (No 2) Regulations (SI 2003/​3226) reg 3(1) . . . . . . . . . . . . . . . . . . . . . . . . 9.26 Payment Services Regulations 2017 (SI 2017/​752) reg 67(3) . . . . . . . . . . . . . . . . . . . . . . . 9.22 reg 72(3) . . . . . . . . . . . . . . . . . . . . . . . 9.24 reg 77(3) . . . . . . . . . . . . . . . . . . . . . . . 9.24

EU LEGISLATION Treaties EC Treaty Art 30 seq . . . . . . . . . . . . . . . . . . . . . . . 4.39 Art 36 . . . . . . . . . . . . . . . . . . . . . . . . . 4.39 Treaty on the Functioning of the European Union (TFEU) Art 128(1) . . . . . . . . . . . . . . . . . . . . . . 4.24 Directives Directive 98/​26/​EC on Settlement Finality in Payment and Securities Settlement Systems . . . . . . . . . . . . . . 5.51 Art 2 (a) . . . . . . . . . . . . . . . . . . . . . . . . 9.06 Directive 2004/​39/​EC (Markets in Financial Instruments Directive/​MiFiD) Art 4(1) . . . . . . . . . . . . . . . . . . . . 5.50, 5.51 Annex I, Section C . . . . . . . . . . . . . . . . 5.51 Directive 2006/​112 (VAT Directive) . . . . 3.11, 3.15, 10.72 Art 24 . . . . . . . . . . . . . . . . . . . . . . . . 10.70 Art 135 . . . . . . . . . . . . 10.75, 10.76, 10.78 Art 135(1)(e) . . . . . . . . . . . . . . 10.71, 10.76 Directive 2009/​110/​EC of the European Parliament and of the Council of 16 September 2009 . . . . . . . . . . . . . . . . 3.35 Art 2(2) . . . . . . . . . . . . . . . . . . . . . . . . 4.24 Directive 2014/​65/​EU (Markets in Financial Instruments Directive/​ MiFID II) Art 4(1) . . . . . . . . . . . . . . . . . . . . 5.50, 5.51 Annex I, Section C . . . . . . . . . . . . . . . . 5.51 Directive 2015/​2366/​EU of the European Parliament and the Council on payment services in the internal market . . . . . . . . . . . . . . . . . . . . . . . 3.38 Acts Budget 1982 Act No 81-​1160 of 30 December 1981 (OJ 31 December 1981) Art 94 . . . . . . . . . . . . . . . . . . . . . . . . . 4.72 Regulations Regulation (EC) 974/​1998 . . . . . . . . . . . . 4.24 Regulation (EC) 44/​2001 Art 5(1)(b) . . . . . . . . . . . . . . . . . . . . . . 5.10 Regulation (EC) No 864/​2007 (Rome II Regulation) . . . . . . . 5.06, 5.09, 5.33, 5.75, 5.77, 5.89, 5.92

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Table of Legislation Art 1(3) . . . . . . . . . . . . . . . . . . . . . . . . 5.92 Art 4(1) . . . . . . . . . . . . . . . . . . . . . . . . 5.11 Art 8(1) . . . . . . . . . . . . . . . . . . . . . . . . 5.12 Art 15(c)–​(d) . . . . . . . . . . . . . . . . 5.77, 5.89 Regulation (EC) No 593/​2008 (Rome I Regulation) . . . . . . . . 5.06, 5.09, 5.17, 5.42, 5.43, 5.46, 5.47, 5.48, 5.65, 5.68, 5.72, 5.75, 5.77, 5.89, 5.92, 5.102, 5.104, 5.119 Recital . . . . . . . . . . . . . . . . . . . . 5.37, 5.62, 5.66, 5.70, 5.103, 5.109, 5.119 Art 1 . . . . . . . . . . . . . . . . . . . . . . . . . . 5.28 Art 1(3) . . . . . . . . . . . . . . . . . . . . . . . . 5.92 Art 3 . . . . 5.10, 5.35, 5.36, 5.37, 5.38, 5.39 Art 3(1) . . . . . . . . . . . . . . . . . . . . 5.36, 5.40 Art 4 . . . . . . . . . . . . . . . . . . . . . 5.10, 5.35, 5.38, 5.44, 5.45, 5.57, 5.63, 5.64, 5.66, 5.67 Art 4(1) . . . . . . 5.49, 5.50, 5.54, 5.62, 5.66 Art 4(1)(a) . . . . . . . . . . . . . . . . . . . . . . 5.10 Art 4(1)(b) . . . . 5.52, 5.57, 5.58, 5.60, 5.61 Art 4(1)(h) . . . . . . . . . . . . . . . . . . 5.50, 5.51 Art 4(2) . . . . . . . . . . . 5.54, 5.60, 5.62, 5.66 Art 4(4) . . . . . . . . . . . . . . . . . . . . 5.62, 5.66 Art 6 . . . . . . . . . . . . . 5.10, 5.35, 5.69, 5.70 Art 6(1) . . . . . . . . . . . . . . . . . . . . 5.69, 5.70 Art 6(2) . . . . . . . . . . . . . . . . . . . . . . . . 5.69 Art 6(4) . . . . . . . . . . . . . . . . . . . . . . . . 5.70 Art 6(4)(e) . . . . . . . . . . . . . . . . . . . . . . 5.70 Art 6(4)(d) . . . . . . . . . . . . . . . . . . 5.51, 5.70 Art 6(4)(e) . . . . . . . . . . . . . . . . . . . . . . 5.51 Art 9 . . . . . . . . . . . . . . . . . . . . . . . . . . 5.41 Art 9(1)–​(2) . . . . . . . . . . . . . . . . . . . . . 5.81 Art 9(3) . . . . . . . . . . . . . . . 5.75, 5.77, 5.82 Art 10 . . . . . . . . . . . . . . . . . . . . . . . . . 5.31 Art 10(1) . . . . . . . . . . . . . . 5.35, 5.64, 5.71 Art 10(2) . . . . . . . . . . . . . . . . . . . 5.64, 5.71 Art 12 . . . . . . . . . . . . . . . . . . . . . . . . . 5.31 Art 12(1)(a)–​(b) . . . . . . . . . . . . . . . . . . 5.77 Art 12(1)(c) . . . . . . . . . . . . . . . . . . . . . 5.89 Art 12(2) . . . . . . . . . . . . . . . . . . . 5.75, 5.77 Art 14 . . . . . . . . . . . . . . . . . . . . . . . . 5.101 Art 14(1) . . . . . . . . . . . 5.103, 5.109, 5.119 Art 14(2) . . . . . . . . . . . . . . . . . . . . . . 5.103 Art 14(3) . . . . . . . . . . . . . . . . . . . . . . 5.101 Art 15 . . . . . . . . . . . . . . . . . . . . . . . . 5.101 Art 19(1) . . . . . . . . . . . . . . . . . . . . . . . 5.59 Art 19(2) . . . . . . . . . . . . . . . . . . . . . . . 5.59 Art 19(3) . . . . . . . . . . . . . . . . . . . . . . . 5.59 Art 21 . . . . . . . . . . . . . . . . . . . . . . . . . 5.82 Art 27(2) . . . . . . . . . . . . . . . . . . . . . . 5.104 Art 28 . . . . . . . . . . . . . . . . . . . . . . . . . 5.46 Electronic Money Regulations 2011 . . . . . . . . . . . . . . . . . . . . 3.35, 3.37

Art 5 . . . . . . . . . . . . . . . . . . . . . . . . . . 3.36 Regulation (EU) 1215/​2012 (Brussels I Regulation) . . . . . . 5.06, 5.09, 5.28, 5.29, 5.53 Art 4 . . . . . . . . . . . . . . . . . . . . . . . . . . 5.10 Art 7(1) . . . . . . . . . . . . . . . 5.10, 5.31, 5.32 Art 7(1)(a) . . . . . . . . . . . . . . . . . . . . . . 5.10 Art 7(1)(b) . . . . . . . . . . . . . . . . . . . . . . 5.10 Art 7(2) . . . . . . . . . . . . . . . . . . . . . . . . 5.11 Arts 17–​19 . . . . . . . . . . . . . . . . . . . . . . 5.10 Regulation (EU) 848/​2015 on insolvency proceedings Art 2(9) . . . . . . . . . . . . . . . . . . . . . . . 5.110 Art 3(1) . . . . . . . . . . . . . . . . . . . . . . . 5.105 Art 3(2) . . . . . . . . . . . . . . . . . . . . . . . 5.110 Art 7 . . . . . . . . . . . . . . . . . . . . . . . . . 5.105 Art 8(2) . . . . . . . . . . . . . . . . . . . . . . . 5.110 Regulation (EU) 679/​2016 of the European Parliament and of the Council of 27 April 2016 . . . . . . . . . 9.16 Payment Services Regulations 2017 . . . . . 3.38 Art 2 . . . . . . . . . . . . . . . . . . . . . . 3.40, 3.41 Art 138 . . . . . . . . . . . . . . . . . . . . . . . . 3.39 Sch . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.39 Proposals European Commission’s Proposal for a Regulation of the European Parliament and of the Council on the law applicable to the third-​party effects of assignments of claims (COM (2018) 96 final) . . . . . . . . . 5.104, 5.105, 5.119 Art 2 . . . . . . . . . . . . . . . . . . . . 5.101, 5.110 INTERNATIONAL INSTRUMENTS Articles of Agreement of the International Monetary Fund (IMF) . . . . . . . . . . . 3.19 Art IV(1)(iii) . . . . . . . . . . . . . . . . . . . . 3.17 Bretton Woods Agreement establishing the International Monetary Fund (IMF) Art VIII(2)(b) . . . . . . . . . . . . . . . 5.84, 5.85, 5.86, 5.87, 5.88 European Central Bank (ECB) Guidelines Art 5.3 . . . . . . . . . . . . . . . . . . . . . . . . . 4.24 European Convention on Human Rights (EHCR) . . . . . . . . . . . . . . . . . . . . . . 3.59 Protocol 1, Article 1 . . . . . . . . . . 1.15, 3.21, 3.22, 3.54 Geneva Securities Convention (adopted 9 October 2009) . . . . . . . . . . . . . . . . . 4.72

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Table of Legislation Hague Principles on choice of law . . . . . . . . . . . . . . . . . . . . 5.42, 5.43 Art 3 . . . . . . . . . . . . . . . . . . . . . . . . . . 5.39 Art 4 . . . . . . . . . . . . . . . . . . . . . . . . . . 5.40 Art 11 . . . . . . . . . . . . . . . . . . . . . . . . . 5.41 Hague Securities Convention (adopted 17 January 2002) . . . . . . . . 4.72 International Convention for the Suppression of Counterfeiting Currency (adopted 1929, entered into force 22 February 1931) 112 LNTS 371 . . . . . . . . . . . . . . . . . . . . 3.18 Rome Convention [1980] on the law applicable to contractual obligations . . . . . . . . . . . . . . . . 5.46, 5.48 Art 3(1) . . . . . . . . . . . . . . . . . . . . . . . . 5.36 Art 4 . . . . . . . . . . . . . . . . . 5.44, 5.45, 5.57 Art 4(2) . . . . . . . . . . . . . . . . . . . . 5.54, 5.58 Art 4(5) . . . . . . . . . . . . . . . . . . . . . . . . 5.62 Art 5 . . . . . . . . . . . . . . . . . . . . . . 5.35, 5.69 Art 8(1) . . . . . . . . . . . . . . . . . . . . . . . . 5.35 Art 8(2) . . . . . . . . . . . . . . . . . . . . . . . . 5.71 Statute of the European Central Bank (ECB) Art 14(4) . . . . . . . . . . . . . . . . . . . . . . . 4.24 Art 17 . . . . . . . . . . . . . . . . . . . . . . . . . 4.24 Art 19 . . . . . . . . . . . . . . . . . . . . . . . . . 4.24 Art 21(1) . . . . . . . . . . . . . . . . . . . . . . . 4.24 Art 22 . . . . . . . . . . . . . . . . . . . . . . . . . 4.24 Art 23 . . . . . . . . . . . . . . . . . . . . . . . . . 4.24 Art 24 . . . . . . . . . . . . . . . . . . . . . . . . . 4.24 Uniform Law for Bills of Exchange and Promissory Notes (League of Nations, Convention of 7 June 1930) Art 75 . . . . . . . . . . . . . . . . . . . . . . . . . 4.07 United Nations Convention on the Assignment of Receivables in International Trade Art 22 . . . . . . . . . . . . . . . . . . . . . . . . 5.105 UNMIK Regulation No 1999/​4 on the currency permitted to be used in Kosovo (UNMIK/​REG/​4 of 2 September 1999) s 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.17 OTHER JURISDICTIONS Argentina Criminal Code s 156 . . . . . . . . . . . . . . . . . . . . . . . . . . 9.16 Australia A New Tax System (Goods and Services Tax) Act 1999 . . . . . . . . . . . . . . . . 10.66

Goods and Services Tax Ruling GSTR 2014/​3 . . . . . . . . . . . . . . . . . . . . . . 10.64 Sale of Goods Act (ACT) s 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.39 Sale of Goods Act (NSW) s 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.39 Sale of Goods Act (NT) s 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.39 Sale of Goods Act (Qld) s 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.39 Sale of Goods Act (SA) s 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.39 Sale of Goods Act (Tas) s 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.39 Sale of Goods Act (Vic) s 6(1) . . . . . . . . . . . . . . . . . . . . . . . . . . 2.39 Sale of Goods Act (WA) s 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.39 Taxation Determination TD 2014/​25 . . 10.39 para 32 . . . . . . . . . . . . . . . . . . . . . . . . 10.41 para 34 . . . . . . . . . . . . . . . . . . . . . . . . 10.42 Appendix 1 . . . . . . . . . . . . . . . . . . . . . 10.40 Taxation Determination TD 2014/​26 . . 10.43 para 10 . . . . . . . . . . . . . . . . . . . . . . . . 10.43 paras 15–​16 . . . . . . . . . . . . . . . . . . . . 10.44 paras 18–​21 . . . . . . . . . . . . . . . . . . . . 10.46 para 22 . . . . . . . . . . . . . . . . . . . . . . . . 10.45 Treasury Laws Amendment (2017 Measures No 6) Act 2107 . . . . . . . . 10.66 Austria Civil Code s 323 . . . . . . . . . . . . . . . . . . . . . . . . . . 4.63 s 326 . . . . . . . . . . . . . . . . . . . . . . . . . . 4.63 s 372 . . . . . . . . . . . . . . . . . . . . . . . . . . 4.63 s 1053 . . . . . . . . . . . . . . . . . . . . . . . . . 4.63 s 1460 . . . . . . . . . . . . . . . . . . . . . . . . . 4.63 s 1463 . . . . . . . . . . . . . . . . . . . . . . . . . 4.63 Canada Act to amend the Bank of Canada Act (1966–​67) s 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.15 Bank of Canada Act (1934) s 25(1) . . . . . . . . . . . . . . . . . . . . . . . . . 4.10 s 25(2) . . . . . . . . . . . . . . . . . . . . . . . . . 4.10 s 25(6) . . . . . . . . . . . . . . . . . . . . . . . . . 4.16 Bank of Canada Act (1985) s 18(b) . . . . . . . . . . . . . . . . . . . . . . . . . 4.23 s 18(l) . . . . . . . . . . . . . . . . . . . . . . . . . . 4.23 s 25 . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.23 Canadian Payments Act (1985) Art 4 . . . . . . . . . . . . . . . . . . . . . . . . . . 4.23

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Table of Legislation Art 5 . . . . . . . . . . . . . . . . . . . . . . . . . . 4.23 Currency Act (1985) s 3(1) . . . . . . . . . . . . . . . . . . . . . . . . . 11.11 s 8(1) . . . . . . . . . . . . . . . . . . . . . 4.23, 11.09 s 8(2) . . . . . . . . . . . . . . . . . . . . . . . . . . 4.23 s 13 . . . . . . . . . . . . . . . . . . . . . . . . . . 11.11 Personal Property Security Act (Ontario) s 1(1) . . . . . . . . . . . . . . . . . . . . . . . . . 11.11 Securities Transfer Act (2006) (Ontario) s 97 . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.72 Prosperity Certificates Act (1936) s 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.30 s 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.30 s 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.30 s 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.30 s 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.30 s 10 . . . . . . . . . . . . . . . . . . . . . . . . . . 11.30 s 10a . . . . . . . . . . . . . . . . . . . . . . . . . . 11.30 Prosperity Certificates Amendment Act (1937) Ch 83 . . . . . . . . . . . . . . . . . . . . . . . . . 11.30 Royal Canadian Mint Act (1985) s 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.23 China Bankruptcy Act Art 38 . . . . . . . . . . . . . . . . . . . . . . . . . 8.28 Art 49 . . . . . . . . . . . . . . . . . . . . . . . . . 8.28 General Provisions of the Civil Law of China Art 114 . . . . . . . . . . . . . . . . . . . . . . . . 8.15 Art 115 . . . . . . . . . . . . . . . . . . . . . . . . 8.15 Art 127 . . . . . . . . . . . 8.17, 8.25, 8.27, 8.35 Law of Real Rights . . . . . . . . . . . . . . 8.07, 8.08 Art 5 . . . . . . . . . . . . . . . . . . . . . . . . . . 8.25 Art 34 . . . . . . . . . . . . . . . . . . . . . . . . . 8.28 Art 35 . . . . . . . . . . . . . . . . . . . . . . . . . 8.28 Art 39 . . . . . . . . . . . . . . . . . . . . . . . . . 8.12 Art 223 . . . . . . . . . . . . . . . . . . . . . . . . 8.24 Law of the People’s Bank of China Art 15 . . . . . . . . . . . . . . . . . . . . . . . . . 8.02 Art 17 . . . . . . . . . . . . . . . . . . . . . . . . . 8.02 Tort Law Art 2 . . . . . . . . . . . . . . . . . . . . . . . . . . 8.32 Art 6 . . . . . . . . . . . . . . . . . . . . . . . . . . 8.32 Art 15(2) . . . . . . . . . . . . . . . . . . . . . . . 8.32 France Act of 24 Germinal Year XI (14 April 1803) . . . . . . . . . . . . . . . . . . . . . . . . 4.06 Act of 12 August 1870 . . . . . . . . . . . . . . . 4.12 Act of 5 August 1914 Art 3 . . . . . . . . . . . . . . . . . . . . . . . . . . 4.12

Act of 25 June 1928 Art 2 . . . . . . . . . . . . . . . . . . . . . . . . . . 4.12 Civil Code . . . . . . . . . . . . . . . . . . . . . . . . 8.07 Art 1196 . . . . . . . . . . . . . . . . . . . . . . . 4.63 Art 1198 . . . . . . . . . . . . . . . . . . . . . . . 4.63 Art 1322 . . . . . . . . . . . . . . . . . . . . . . . 4.64 Art 1583 . . . . . . . . . . . . . . . . . . . . . . . 4.63 Art 2258 . . . . . . . . . . . . . . . . . . . . . . . 4.63 Art 2276 . . . . . . . . . . . . . . . . . . . 4.63, 7.27 Art 2279 . . . . . . . . . . . . . . . . . . . . . . . 4.63 Monetary Act of 1 October 1936 . . . . . . . 4.12 Germany Act on Copyright and Related Rates (UrhG) Arts 15–​22 . . . . . . . . . . . . . . . . . . . . . . 7.21 Art 31ff . . . . . . . . . . . . . . . . . . . . . . . . 7.21 Act on the Protection of Trademarks and Other Symbols (MarkenG) Art 27ff . . . . . . . . . . . . . . . . . . . . . . . . 7.21 Fiscal Code (EStG) Art 23(1) . . . . . . . . . . . . . . . . . . . . . . 10.95 Civil Code (BGB) . . . . . . . . . 7.12, 8.07, 8.08 Arts 12–​14 . . . . . . . . . . . . . . . . . . . . . . 7.21 Art 90 . . . . . . . . . . . . . . . . . . . . . . . . . 8.13 Art 413 . . . . . . . . . . . . . . . . . . . . . . . . 7.21 Art 929 . . . . . . . . . . . . . . . . . . . . . . . . 4.63 Art 937 . . . . . . . . . . . . . . . . . . . . . . . . 4.63 Art 1005 . . . . . . . . . . . . . . . . . . . . . . . 4.63 Art 1006 . . . . . . . . . . . . . . . . . . . . . . . 7.27 Patent Act (PatentG) Art 15 . . . . . . . . . . . . . . . . . . . . . . . . . 7.21 Italy Civil Code Art 1161 . . . . . . . . . . . . . . . . . . . . . . . 4.63 Art 1163 . . . . . . . . . . . . . . . . . . . . . . . 4.63 Japan Bank of Japan Act Art 46 . . . . . . . . . . . . . . . . . . . . . . . . . 8.02 Bankruptcy Act Art 62 . . . . . . . . . . . . . . . . . . . . . . . . . 8.18 Art 98 . . . . . . . . . . . . . . . . . . . . . . . . . 8.28 Civil Code . . . . . . . . . . . . . . . 8.07, 8.08, 8.22 Art 85 . . . . . . . . . . . . . . . . 8.13, 8.18, 8.19 Art 175 . . . . . . . . . . . . . . . . . . . . . . . . 8.25 Art 206 . . . . . . . . . . . . . . . . . . . . 8.12, 8.18 Art 243 . . . . . . . . . . . . . . . . . . . . . . . . 8.18 Art 244 . . . . . . . . . . . . . . . . . . . . 8.18, 8.29 Art 245 . . . . . . . . . . . . . . . . . . . . 8.18, 8.29 Art 362 . . . . . . . . . . . . . . . . . . . . 8.19, 8.24 Art 417 . . . . . . . . . . . . . . . . . . . . . . . . 8.32 Art 709 . . . . . . . . . . . . . . . . . . . . 8.31, 8.32

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