All the companies that fall under the purview of UK Companies Act 2006 which is again implementing EU Electronic Commerce Directive (E-commerce Rules) Directive are required to fulfill the obligations of Internet laws contained therein and non-compliance is seriously viewed. For instance JP Morgan is a vast bank having branches all over the world. JP Morgan is also operating in UK and for the purpose of compliance with E-commerce Rules, JP Morgan Chase has clearly indicated which branch to be contacted for which purpose.
Viz. , JP Morgan Asset Management Ltd. , UK is to be contacted for institutional business, J. P Morgan International Bank Ltd. , has to be contacted for private banking, J. P Morgan Europe Ltd. , has to be contacted for Treasury and Security Services, JP Morgan Chase Bank, London for Corporate Trustee and Depository Services and finally JP Morgan Chase Bank, London for all Corporate dealings. (J. P Morgan, Notice regarding EU e-commerce information and UK Companies Act 2006 requirements, services provided in UK).
The notice is circulated to all the respective branches with the above information along with registered no. of company, registered address and VAT number. This is an evidence that the web site transactions of JP Morgan are electronically made and are legally authorized as the due notice to the effect of e-commerce laws has been adhered by the bank.
The statutory instrument of e-commerce regulations provided by EU Directive clearly detail about information to be provided on the web site, the methods of commercial communications, explanation about unsolicited commercial communication, information to be provided when contracts are performed by electronic means, information about requirements of placing of an order, the meaning of term ‘order’, the probable liabilities of service provider, compliance with regulations, protection of rights, caching, hosting and defence in criminal proceedings and also about notice for the extending actual knowledge.
(Statutory Instrument 2002 No. 2013, The Electronic Commerce (EC Directive) Regulations 2002) Therefore, with the above discussion, it has been made very clear, that the advent of Internet technology, IT Management has contributed largely to the success of businesses, the e-commerce law especially in EU has stiffened the transparency of valid electronic transactions.
EU holds many top lists of multinational companies and many of these businesses have come to online businesses and certainly, the consumer market would be more which is why EU Directive has effectively launched e-commerce law and for many years in future, the Regulations would stand at the threshold of businesses both for upcoming and existing online businesses. Conclusion E-commerce law certainly increases the success rate of online businesses with the fact that the intangible world of Internet, works and accepts only valid system check and identifies the bugs or the data hackers and warns its users.
Therefore, e-commerce law has great future in the years to come as the technology is changing at a fast pace. TWC: 1660
Books Amanda C. Brock, Rafi Azim-Khan, E-Business Reviewed 10 March 2009 http://books. google. co. in/books? id=TZhUCNrwzh8C&dq=e-business+law+in+UK&printsec=frontcover&source=in&hl=en&ei=Y4e2Sfy8C5yA6gPPzbSkCQ&sa=X&oi=book_result&resnum=12&ct=result Quinten Kroes, E-Business Law of the European Union Reviewed 10 March 2009 http://books. google. co. in/books? id=HmTAbzEtyhgC&dq=e-business+law+in+UK&printsec=frontcover&source=in&hl=en&ei=Y4e2Sfy8C5yA6gPPzbSkCQ&sa=X&oi=book_result&resnum=11&ct=result