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A term used in (a) the EC Regulation on insolvency/the recast regulation and (b) UNCITRAL Model Law regarding secondary proceedings.
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Determining applicable law and jurisdiction, and the territorial scope of statutory employment rights—checklist This Checklist provides an overview of the questions to be asked when determining: • which system of law is applicable to a contract of employment or employment relationship (applicable law) • whose courts and/or tribunals should decide an employment case (jurisdiction), and • how the courts and employment tribunals decide what statutory rights, if any, an employee who works abroad and/or has a foreign employer (territorial application or scope of statutory employment rights) Brexit impact From exit day (31 January 2020) the UK ceased to be an EU Member State but, in accordance with the transitional arrangements provided in the Withdrawal Agreement, the UK was in an implementation period (IP) until 11pm on 31 December 2020, known as ‘IP completion day’. During this period, the UK continued to be treated by the EU as a Member State for many purposes. While it could not participate in the political institutions and governance structures of the EU, the UK...
Establishing a share incentive plan (SIP) and granting SIP awards—all-encompassing resource pack For more general information on share incentive plans (SIPs), see Practice Note: What is a share incentive plan? Step Details of step Lexis®PSL resources required to implement step Timing of step 1 Determine whether the company qualifies to operate a SIP. The SIP regime is prescriptive and sets out numerous requirements that must be met at the time the awards are granted, including in relation to the company granting the awards. It is essential to establish whether the company whose shares are being granted under award qualifies to operate a SIP first. The proposed award holder(s) must also meet certain requirements in order to be granted SIP awards. For further detailed information on the SIP eligibility requirements relating to the company, see Practice Note: SIPs—qualifying companies and type of shares. For further detailed information on the SIP eligibility requirements relating to the employee, see Practice Note: SIPs—who can be granted an award? For a checklist...
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From IP completion day onwards, this document is archived and no longer maintained.Brexit impactAs of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an implementation period, during which it continues to be subject to EU law. References to exit day in many Brexit SIs are to be read as reference to IP completion day (Implementation Period completion day, defined in clause 39 as 31 December 2020 at 11.00 pm) (unless that provision is expressly disapplied by the SI in question). For further details, see News Analysis: Brexit—impact of the Withdrawal Agreement and European Union (Withdrawal Agreement) Act 2020 for R&I lawyers and Brexit Bulletin—key updates, research tips and resources. For further details on the impact on the Recast Regulation on insolvency, see Practice Note: Brexit—impact on Recast Regulation on Insolvency.For details of the impact on credit institutions, see Practice Note: Brexit—impact on insolvent credit institutions. For details of the impact on insurers, see...
Development of EU climate change policy Context Humans are increasingly influencing the climate and the earth's temperature by burning fossil fuels, cutting down rainforests and farming livestock. All of this adds enormous amounts of greenhouse gases to those naturally occurring in the atmosphere, increasing the greenhouse effect and global warming. Some gases in the earth's atmosphere act a bit like the glass in a greenhouse, trapping the sun's heat and stopping it from leaking back into space. Many of these gases occur naturally but human activity is increasing the concentrations of some of them in the atmosphere, in particular: • carbon dioxide (CO2) • methane • nitrous oxide • fluorinated gases CO2 is the greenhouse gas most commonly produced by human activities and it is responsible for the majority of man-made global warming. Other greenhouse gases, such as methane and nitrous oxide, are emitted in smaller quantities, but they trap heat far more effectively than CO2. Rising emissions are caused by: • burning fossil fuels (ie coal, oil...
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Board minutes—approving the adoption of an unapproved option plan and the grant of unapproved options [insert name of company adopting the unapproved option plan] (Company)—[insert Company number] Minutes of a meeting of the[ remuneration committee of the] board of directors of the Company held at [insert place of meeting] on [insert date of meeting] at [insert time of meeting]. Present [insert name of director to be Chair] (the Chair) [insert names of directors present] In attendance [insert names of those in attendance] Apologies [insert names of directors who are unable to attend meeting] 1 Notice and quorum [insert name of Chair] was appointed Chair of the meeting. It was reported that proper notice of the meeting had been given in accordance with the Company's articles of association (Articles) and that a quorum was present. Accordingly, the Chair declared the meeting open. 2 Purpose of meeting The Chair reported that the purpose of the meeting was to consider and, if thought fit, approve: 2.1 the adoption...
United Kingdom Taxation General The summary set out below describes certain taxation matters of the United Kingdom based on the Issuer’s understanding of current law and HM Revenue & Customs (HMRC) published practice as at the date of this document, both of which are subject to change, possibly with retrospective effect. The summary is intended as a general guide only and is not intended to be, nor should it be construed to be, tax or legal advice. The summary applies only to persons who are the absolute beneficial owners of Bonds, who hold their Bonds as investments and who are resident and, in the case of individual shareholders, domiciled in the UK for taxation purposes at all relevant times. In particular Bondholders holding their Bonds through a depositary receipt system or clearance service should note that they may...
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Where can I find information relating to FCA perimeter issues? The FCA's Perimeter Guidance manual (PERG) provides guidance about the circumstances in which authorisation is required, or exempt person status is available, including guidance on the activities which are regulated under the Financial Services and Markets Act 2000 (the Act) and the exclusions which are available. Application of the Perimeter Guidance manual (PERG) PERG applies to: • a person who is considering carrying on activities in the United Kingdom which may fall within the scope of the Act and is seeking guidance on whether he/she needs to be an authorised person • a person who seeks to become an authorised person under the Act and who is, or is considering, applying for Part 4A permission to carry on regulated activities in the United Kingdom • a person who is seeking guidance on whether any communication he/she may be seeking to make or cause to be made will be a financial promotion and be subject to the restriction...
What filings are required in relation to the closing down of a UK establishment of an overseas company? It is assumed that the overseas company and its UK establishment are solvent. If an overseas company closes a UK establishment that is registered at Companies House, it must file a form OS DS01. Once Companies House has registered that document, the company no longer needs to file any documents for the UK establishment. See details in: Companies House guidance—overseas companies in the UK. Whilst there are no other company law filings required at Companies House regarding the closure of the establishment, other filings or notifications might be required depending upon its business and activities. For example, if the establishment has its own business and dealings with UK-based customers, any contracts with those customers should be reviewed regarding possible termination, variation or notice clauses. The closure of a non-UK resident company's UK branch and the cessation of its trade will have several tax effects that may require interaction with HMRC, who should...
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Law360, London: The new 'failure to prevent' fraud offence that comes into force in September 2025 will indirectly boost the Financial Conduct Authority's (FCA’s) opportunities for enforcement against corporate senior managers, countering its recent retreat from plans to 'name and shame' companies it is investigating, lawyers say.
This week's edition of EU Law weekly highlights includes analyses on the interplay between the EU AI Act and the EU General Data Protection Regulation, what legal teams need to know about AI standards, navigating the EU AI Act in 2025, and the impact of imminent European design reforms on companies’ future IP strategies. Further this week, the European Commission published its 2025–2030 Ecodesign Working Plan, launched a call for evidence on its proposed Industrial Decarbonisation Accelerator Act, adopted three Delegated Regulations under the European Green Bond Regulation, fined Apple €500m and Meta €200m for breaching EU Digital Markets Act obligations and closed its EU Digital Markets Act investigation into Apple's user choice obligations. Finally, this week’s highlights cover the publication of new guidelines on sharing cybersecurity information in the electricity sector and MedTech Europe’s warnings on the risks associated with medical import tariffs.
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